A nearly daily round-up of news for your consideration:
- Global demand for natural gas is expected to increase by about 2.2 percent per year through 2019, the International Energy Agency says. The slower than expected increase is driven by competition from both coal and renewable energies and high gas prices.
- The energy sector is heating up along with summer temperatures and is positioned to stay strong in the years ahead, USA Today reports. From the article:
“Gasoline inventories were down last week which will likely put demand in control of the U.S. gasoline market, and oil remains strong even though U.S. oil inventories are increasing. The big news in the oil patch, of course, is the increase in U.S. oil production due to exploitation of shale reserves and new technologies like fracking. This has pushed U.S. crude oil production to the highest level in 20 years.”
- China, which consumes nearly as much coal as the rest of the world combined, is accelerating a switch to cleaner fuels and considering a cap on carbon emissions, Bloomberg reports, but the demand for coal exports globally is expected to increase amid intense opposition.
- Some 62 percent of Americans say they would pay more for energy to curb climate change, but less than half say they trust warnings from scientists about the problem, according to a Bloomberg poll.
- Warren Buffett’s Berkshire Hathaway Inc. is prepared to double its investment in the renewable power generation industries, International Business Times reports.