BP Oil Spill: Progress In The Gulf
All eyes will be on the Gulf this week, closely following BP’s latest attempt to squash the massive spill. The British oil company announced over the weekend that it would be installing a tighter cap over its busted well, which if successful, could finally capture all of the oil spewing out of the well. The crude would then be funneled to containment ships at the surface. “The hope is that we can slowly turn off the valves, close the capping completely and then test pressure to see how the well is performing,” said National Incident Commander Admiral Thad Allen on CBS’s “The Early Show,” reports the AP.
Exxon Mobil To Talk Biofuel
One year after announcing a $600 million investment in algae-based biofuel maker Synthetic Genomics, oil and gas giant Exxon Mobil and its biofuel partner, on Wednesday, are scheduled to shed some light on their R&D. Scheduled to speak from Synthetic’s La Jolla, Calif., headquarter are Dr. Emil Jacobs, vice president of research and development at Exxon Mobil, and Synthetic founder and CEO Dr. J. Craig Venter. Could Exxon announce a full acquisition of the California company? Exxon’s media reps won’t say.
They Were Two, Now They’re Three: Italy Poised to Cut Solar Subsidies
Italy, Europe’s third largest solar power market, could announce steep cuts in its solar subsidy program. Reuters reports, citing unnamed sources, that the country could cut solar feed-in tariffs by up to 30 percent next year and 6 percent in both 2012 and 2013. After Germany and Spain, Italy is the third European country poised to make steep cuts in it solar incentive program, this as EU countries wrestle to control large deficits.
Intersolar: The Industry Meets In San Francisco
The solar industry is converging to San Francisco this week for the annual Intersolar conference. The gathering takes place as key markets including Germany and Italy, have or are in the process of cutting solar subsidies. Also on the minds of investors and developers, at least in the U.S., is the fate of the stimulus-backed funds, which have supported the industry for almost two years now but are set to sunset at the end of the year. G.E.R. Co-Editor Terrence Murray as well as writer Mark Pabst will be in San Francisco to provide breaking news and relevant analysis.
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