• 5 minutes Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 11 minutes Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 15 minutes WTI @ 67.50, charts show $62.50 next
  • 2 hours Mike Shellman's musings on "Cartoon of the Week"
  • 13 hours Starvation, horror in Venezuela
  • 21 hours The EU Loses The Principles On Which It Was Built
  • 14 hours Again Google: Brazil May Probe Google Over Its Cell Phone System
  • 14 hours Tesla Faces 3 Lawsuits Over “Funding Secured” Tweet
  • 41 mins Batteries Could Be a Small Dotcom-Style Bubble
  • 17 hours Why hydrogen economics does not work
  • 7 hours Saudi Fund Wants to Take Tesla Private?
  • 1 day WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 9 hours California Solar Mandate Based on False Facts
  • 1 day Crude Price going to $62.50
  • 9 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 1 day Saudi Arabia Cuts Diplomatic Ties with Canada
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




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




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