Reuters: Oil rose to hit a six-month high above $63 a barrel on Wednesday after OPEC kingpin Saudi Arabia said the global economy had strengthened enough to cope with oil at $75-$80 a barrel.
Speaking ahead of the organisation of the Petroleum Exporting Countries’ meeting in Vienna on Thursday, Saudi Oil Minister Ali al-Naimi said oil prices would continue to rise, recovering from lows near $32 at the turn of the year.
“The price rise is a function of optimism better things are coming in the future,” Naimi told reporters in Vienna.
“We see offshoots of recovery,” he added. “Demand is picking up, especially in Asia.”
McKinsey says a new oil shock is inevitable, it’s just a matter of time. [Paul Kedrosky]
Up and down polysilicon prices are toying with solar stocks. [FT Lex]
China thinks global warming is more important than the credit crisis. [Bloomberg]
World Bank says there will be a glut of carbon credits in the world due to the recession. [Bloomberg]
Exxon subsidiary starts $7.1 billion oil sands project started in Canada. [Green Inc.]
Catch up on China’s effort to get more solar powered energy. [Guardian]
Survey of ‘top-level employees at 1,052 large companies around the globe’ finds companies paying $21 to 27 million per year in electricity use, which is spurring an increase in Green IT. [GreenBiz]
How First Solar will sort through the OptiSolar acquisition, part III of the interview with its President. [PV Tech]
The Cato Institute has been bankrolling a consulting company owned by notorious climate denier Patrick Michaels to the tune of $242,900 since April 2006. [DeSmogBlog]
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