• 4 minutes US-backed coup in Venezuela not so smooth
  • 7 minutes Why Trump will win the wall fight
  • 11 minutes Oil imports by countries
  • 13 minutes Maduro Asks OPEC For Help Against U.S. Sanctions
  • 48 mins Climate Change: A Summer of Storms and Smog Is Coming
  • 15 mins Itt looks like natural gas may be at its lowest price ever.
  • 1 hour Venezuela: Nicolas Maduro closes border with Brazil
  • 4 hours Teens For Climate: Swedish Student Leader Wins EU Pledge To Spend Billions On Climate
  • 5 mins Tension On The Edge: Pakistan Urges U.N. To Intervene Over Kashmir Tension With India
  • 2 hours Amazon’s Exit Could Scare Off Tech Companies From New York
  • 17 hours students walk out of school in protest of climate change
  • 22 hours North Korea's Kim To Travel To Vietnam By Train, Summit At Government Guesthouse
  • 2 days Washington Eyes Crackdown On OPEC
  • 1 day Europe Adds Saudi Arabia to Dirty-Money Blacklist
  • 1 day Some Good News on Climate Change Maybe
  • 1 day America’s Shale Boom Keeps Rolling Even as Wildcatters Save Cash
Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

Major Step for the Geothermal Sector

U.S. Geothermal announced this week a strategic partnership with Enbridge, one of North America's largest operators of oil and liquids pipelines.

Under the deal, Enbridge will invest $23.8 million toward the development of Geothermal's Neal Hot Springs project in Oregon. The buy-in will net Enbridge a 20% direct ownership in the operation.

This is another major step for the junior geothermal sector (they seem to be coming faster and faster these days).

Endorsement from a company the size of Enbridge is striking in and of its self. Even more intriguing is the fact Enbridge is stepping well outside of its usual line of business to make this acquisition.

Expect this trend to continue. Companies in perceived "dirty" businesses (like oil shipping) are under pressure to green themselves. Buying into clean energy like geothermal fits the bill. To boot, the economics on geothermal projects are attractive. And the sector hasn't taken off the way wind and solar have, meaning project stakes are still available at reasonable prices.

The Enbridge example is going to get coal producers, chemical makers and perhaps even mining companies interested. There's more attention to come for America's hot water reservoirs.

By. Dave Forest of Notela Resources




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News