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Filling The Gap: Tomorrow’s Most Popular Oil Trade

Filling The Gap: Tomorrow’s Most Popular Oil Trade

Following the delisting of DWTI…

OPEC November Production Hits Record Highs

OPEC November Production Hits Record Highs

OPEC has increased oil production…

UK Carbon Emissions Down by 7%, Renewable Energy up 35%

The UK has announced that its greenhouse gas emissions fell by seven percent in comparison to 2010. This was due to a higher average temperature, reducing demand of energy to heat houses, and an increase in the amount of electricity produced from renewable sources.

Emissions of the six greenhouse gases laid out by the Kyoto Protocol were down to 549 million tonnes from 590 million tonnes in 2010. Carbon dioxide, which makes up nearly 84 percent of UK emissions, was down by eight percent.

Renewable energy now accounts for 9.5 percent of the UK’s total energy capacity, compared to 7.5 percent the year before. Renewable sources produced 34.8 terrawatt hours of electricity, up 35 percent on the previous year, whilst the capacity rose to 12.2 gigawatts.

Wind energy produced an extra 54.5 percent, with offshore wind capacity increasing by 68 percent. Hydro powered electricity increased by 58 percent compared to 2010.

The UK’s climate change secretary, Ed Davey, said that this all provides “more evidence of how the UK is leading the way in the fight against climate change. Carbon emissions are down, homes are more energy efficient and low carbon power is up. Thanks to the Green Deal and the government's reforms to the electricity market I hope to see this trend continue and gather pace.”

Scotland managed to exceed its own targets of supplying 31 percent of its electricity from alternative sources; they actually managed 35 percent.

Scottish energy minister, Fergus Ewing, said that, “We are seeing great progress towards our goal of generating the equivalent of 100 per cent of Scotland's electricity needs from renewables by 2020.”

By. James Burgess of Oilprice.com



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