- The world might be heading for an oil supply shortage following a steep drop in investments and a lack of fresh conventional discoveries, Saudi Aramco’s chief executive Amin Nasser told a conference in Istanbul. He said we should not assume that shale oil and alternative energy can be developed quickly enough to replace oil and gas. [CNBC]
- “Everything you need to know about Tesla’s battery in South Australia” • Billionaire Elon Musk has put his money where his mouth is and has promised to solve South Australia’s energy issues by building the world’s largest lithium-ion battery. His promise: If he fails to deliver on the battery within 100 days, it will be free. [NEWS.com.au]
- Royal Dutch Shell Plc plans to spend up to $1 billion a year on its New Energies division as the transition toward renewable power and electric cars accelerates. Shell sees opportunities in hydrogen fuel-cells; liquefied natural gas; and next-generation biofuels for air travel, shipping and heavy freight, for which batteries are not adequate. [Bloomberg]
- France is to close up to 17 nuclear power stations to reach the government’s target of 50% nuclear power by 2015, the Ecology Minister said on Monday. He presented a “climate plan,” though it was short on details on reaching the commitment to reduce the amount of electricity produced in nuclear reactors from the current 75% to 50%. [RFI]
- Last year nearly 40% of US wind contracts were signed by corporate power users, along with university and military customers. That’s up from just 5% in 2013, according to the American Wind Energy Association. These users also accounted for 10% of the market for large scale solar projects in 2016, up from 0% two years earlier. [Yahoo7 News]
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