Is it possible that the newest form of renewable energy could come from volcanoes? If Iceland becomes more than just an example, but a leader in the energy industry, this new form of geothermal energy will no longer just be conversation. Currently, Iceland’s volcanic geography is contributing geothermal resources that account for nearly a quarter of the country’s electricity. While the world is currently dominated by hydrocarbon economies, taking a lesson from Iceland and tapping into volcanic geothermal sources could open access to a powerful renewable resource for the world.
globalEDGE Blog - By Tag: global-energy-series
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In part 3 of our global energy blog series, we discussed which countries could capitalize on the falling oil prices. For the fourth installment of the series, we turn our eyes to some of the environmental issues surrounding the energy industry, specifically the issue of carbon emissions. As climate change fears increase and become more urgent on a global scale, world leaders have been looking for solutions to reduce harmful emissions while avoiding the economic pitfalls that can be associated with taxes or regulation. One solution gaining popularity is carbon markets, which create carbon emission allowances that are given to businesses. These credits can be used or sold depending on the amount of emissions the business produces, giving companies an incentive to reduce their emissions.
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In yesterday’s blog post, we spoke of the how falling oil prices could lead to increased mergers and acquisitions in the private sector. This blog will focus on the public sector and which countries benefit the most from these low energy prices. Commodity pricing is as much an art as it is a science; the fundamentals of supply and demand clarify most of these fluctuations, however they do not properly explain the exaggerated influence prices. The saturated, oversupplied market is now creating volatility for producers, but opportunities exist for speculative nations looking to stabilize or expand their global economic footprint.
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The extremely low oil prices that have characterized the energy industry for the past few months are making waves all around the world. In some countries, low prices have been seen as a benefit; in others, not so much. A major consequence has arisen that will affect all nations regardless of economic status: oil corporation mergers and takeovers. Historically, it has generally been the case that when there are low prices in the energy industry, mergers and acquisitions occur between bigger and smaller firms. Several plants and companies that originally profited immensely off of high oil prices, will now either have to severely change business strategies or be forced to relinquish control to more powerful firms in the industry.
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In this month’s blog series, globalEDGE features the global energy industry. This series will discuss the industry outlook for 2015, the potential for mergers and takeovers, countries that benefit from falling oil prices, global carbon markets, and volcanoes as an energy source. Many analysts hold the belief that oil prices will continue to fall in the first half of 2015, before increasing in the second half of the year. The shale revolution in the United States, Saudi Arabia’s insistence on maintaining its market share, and a weak global economy have all contributed to the lowest oil price per barrel in five and a half years.