Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Green-energy investing will account for 25% of all energy spending in 2021 and, for the first time ever, surpass spending on traditional fuel sources like oil and gas, <a href="https://markets.businessinsider.com/stocks/gs-stock">Goldman Sachs</a> said in a Tuesday note.</li><li>Should the US aim to hold global warming within 2 degrees Celsius, the pivot to renewable energy sources will create between $1 trillion and $2 trillion in yearly infrastructure spending, the team of analysts added, or an investment opportunity as big as $16 trillion through 2030.</li><li>While past economic downturns halted efforts to lift <keyword id="154273" type="ORGANIZATION" weightage="60" keywordseo="clean-energy">clean energy</keyword> initiatives, the coronavirus recession "will be different," the firm said. </li><li>Green technologies "are now mature enough to be deployed at scale," and the transition can benefit massively from cheap capital and "an attractive regulatory framework," according to Goldman.</li><li><a href="https://www.businessinsider.com/?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestutm_source=msn.com&amp;utm_medium=referral&amp;utm_content=msn-slideshow&amp;utm_campaign=bodyurlutm_campaign=bodyurl">Visit the Business Insider homepage for more stories</a>.</li></ul>The transition to renewable power from traditional fuels will create a $16 trillion investment opportunity through 2030 as spending shifts to new infrastructure, <a href="https://markets.businessinsider.com/stocks/gs-stock">Goldman Sachs</a> analysts said Tuesday.The bank projects green-energy spending to pass that of oil and gas for the first time ever next year and account for roughly 25% of all energy spending. The share stood at just 15% in 2014, but a dive in fossil-fuel investing over the past decade shifted more dollars to clean energy initiatives.If the nation aims to hold global warming within 2 degrees Celsius, the move toward renewable energy would create between $1 trillion and $2 trillion in yearly infrastructure spending, the team led by <keyword id="9418927" type="UNKNOWN" weightage="60" keywordseo="michele-della-vigna">Michele Della Vigna</keyword> wrote in a note to clients.Economic downturns have historically slowed efforts to boost clean energy investing, but Goldman sees the coronavirus downturn bucking that trend and accelerating the nationwide pivot.Read more: <a href="https://www.businessinsider.com/real-estate-investing-strategy-for-passive-income-rehab-heath-jones-2020-6" target="_blank" rel="noopener">Heath Jones is a US Army neuroscientist whose side hustle is scooping up real estate for passive income. Here's how he leverages a simple strategy for extra cash.</a>"We believe this time will be different, especially for technologies that are now mature enough to be deployed at scale and can benefit from a falling cost of capital and an attractive regulatory framework, unlocking one of the largest infrastructure investment opportunities in history on our estimates," the team wrote.The decade-long strategy isn't without its risks. Goldman warned that low cost of capital and an attractive regulatory framework are "essential" to moving green infrastructure forward. Such projects can be as much as three-times more demanding of capital and jobs compared to traditional energy developments.If either side of the public-private collaboration falters, the transition will slow dramatically, the bank said.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-topranked-investors-dennis-lynch-kristian-heugh-2020-6" target="_blank" rel="noopener">Wall Street's best US and international stock-pickers have tripled their clients' money since 2010. The duo break down 5 future-proof companies that will keep investors ahead of the pack through 2030.</a>Two-speed de-carbonization also poses a threat to the firm's outlook. Fiscal and monetary aid will likely boost mainstream clean-energy initiatives like solar and wind power. Yet growing technologies like clean hydrogen and the creation of carbon <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> risk being placed on the back-burner.If the latter efforts can't gain access to sufficient capital, the long-term plan to slash carbon emissions will stall, Goldman warned."This may ultimately delay the technological breakthroughs necessary to flatten the de-carbonization cost curve and achieve cost-efficient net zero carbon," the team wrote.Now read more markets coverage from Markets Insider and Business Insider:<a href="https://www.businessinsider.com/best-stocks-to-buy-investing-strategy-market-rotation-jeff-kleintop-2020-6" target="_blank" rel="noopener">Schwab's global investing chief says the market's best-performing stocks are due for a surprising rotation for the first time in 12 years — and shares 3 ways to get ahead of the shift</a><a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-index-reaction-economic-recession-recovery-hopes-2020-6-1029317791">US stocks climb, extend winning streak to 4 days on hopes for swift economic recovery</a><a href="https://www.businessinsider.com/wto-tariffs-white-house-lighthizer-reset-rates-trade-policy-economy-2020-6">The White House steps up trade aggression, calls for 'broader reset' of global tariffs</a>

Goldman Sachs says renewable-energy spending will surpass oil and gas for the first time ever in 2021 — and sees total investment spiking to $16 trillion over the next decade

<ul class="summary-list"><li>There may be no quick fix to the energy crisis, a Goldman analyst said, citing dwindling OPEC capacity. </li><li>The cartel only has the capacity to add 1 million barrels a day, the lowest volume in 20 years.</li></ul>Western leaders are scrambling for a solution to a potential energy crisis as Russia pulls oil and gas products away from sanctioning nations, but there is no near-term fix for the world's energy problems, a Goldman Sachs analyst said, spelling trouble as the West gears up for the winter."I don't think there is an immediate solution," Goldman Sachs analyst Michele Della Vigna said in an interview with <a href="https://www.cnbc.com/video/2022/08/04/goldman-sachs-opec-spare-oil-capacity-largely-gone.html">CNBC.</a>G7 nations are currently discussing a potential <a href="https://markets.businessinsider.com/news/commodities/russian-oil-price-cap-g7-china-india-minimize-costs-2022-7">price cap on Russian oil</a> to lower costs, aiming to propose the plan to by December 5. President Biden has also been looking to secure more supply for Europe as Russia cuts it off from its natural gas flows, recently traveling to <a href="https://www.businessinsider.com/biden-oil-saudi-arabia-crude-russia-opec-white-house-gas-2022-7">Saudi Arabia to ask for another oil production hike</a>.But a dead end may be in sight: officials from Russia have scorned the idea of a price cap, warning that such a measure would "<a href="https://markets.businessinsider.com/news/commodities/russia-oil-price-cap-collapse-g7-ukraine-war-funding-retaliation-2022-7">collapse</a>," and OPEC+ responded to pleas for more oil with a modest 100,000 barrel hike per day starting in September, after filling <a href="https://www.reuters.com/business/energy/opec-oil-output-rises-july-despite-outages-survey-2022-08-01/">just 60% of the hike it promised</a> in July, Reuters reported."The spare capacity is largely gone," Vigna said of the cartel, estimating that OPEC+ nations had a remaining production capacity of roughly 1 million barrels a day, the smallest in about 20 years.Between the cartel's low inventory of oil – which led <a href="https://markets.businessinsider.com/news/commodities/russian-oil-products-saudi-arabia-egypt-fuel-imports-sanctions-ukraine-2022-6">Saudi Arabia to double its Russian crude purchases</a> in June – and <a href="https://markets.businessinsider.com/news/commodities/europe-energy-crisis-lng-hoarding-traders-russia-natural-gas-cuts-2022-7">Asian buyers snapping up liquid natural gas</a>, Europe is pressed to find other sources of fuel, stirring fears that the continent will tip into a crisis this winter when EU sanctions on Russian oil fully take effect. Vigna acknowledged though there were "good long-term solutions" for Europe to work towards, such as investing in infrastructure to boost oil production, inking long-term natural gas contracts, and implementing more hydrogen energy use. But those are unlikely to bring relief in time for year-end, experts say. It takes around <a href="https://markets.businessinsider.com/news/commodities/oil-price-outlook-stay-high-tight-supply-shell-exxon-ceo-2022-7">three to five years for investments to produce more</a> oil supply, according to Exxon Mobil CEO Darren Woods."Unfortunately, in the near-term, the market is likely to be tight, and there is no quick easy solution to the energy affordability problem," Vigna warned.It puts some more pressure on Europe to gear up for winter months ahead. Nations have already implemented laws to curb energy usage and have urged by world leaders to develop a collective emergency plan.

There is no quick fix to the global energy crisis with OPEC+ capacity at a 20-year low, Goldman Sachs analyst says

<ul class="summary-list"><li>OPEC+ nations struggle in raising their oil output, missing July targets even more than what was seen last month.</li><li>OPEC+ fell short by 2.9 million barrels a day last month, two sources told Reuters.</li></ul>OPEC+ nations continue to struggle in raising their oil output, with the cartel missing its production targets by nearly 3 million barrels a day last month, according to a report.Two sources from OPEC+ said the organization <a href="https://www.reuters.com/markets/commodities/opec-missed-output-targets-by-29-mln-bpd-july-sources-say-2022-08-22/">fell short by 2.9 million barrels a day in July</a>, despite promising to hike its production by 648,000 barrels a day throughout July and August, according to a report from <a href="https://markets.businessinsider.com/news/commodities/oil-prices-today-saudi-arabia-biden-inflation-opec-russia-ukraine-2022-8">Reuters</a>. It's even more of a fallback than what was seen in June, when OPEC+ missed its production target by 2.8 million barrels a day. Western nations have pleaded with the organization for more oil, but experts think the cartel has largely run out of the capacity to produce more, and can't do much to lower energy prices. Indeed, OPEC+ agreed to only <a href="https://markets.businessinsider.com/news/commodities/oil-prices-today-saudi-arabia-biden-inflation-opec-russia-ukraine-2022-8">modest hike of 100,000 barrels per day</a> for September. The cartel's new leader, Haitham Al Ghais, said last week that was because of underinvestment within the entire energy sector, noting that <a href="https://markets.businessinsider.com/news/commodities/opec-oil-natural-gas-prices-russia-sanctions-europe-energy-crisis-2022-8">OPEC+ wasn't to blame for sky-high prices</a>. Goldman Sachs analyst Michele Della Vigna recently estimated that OPEC+ has remaining capacity of roughly 1 million barrels per day, <a href="https://markets.businessinsider.com/news/commodities/oil-natural-gas-global-energy-crisis-europe-west-russia-sanctions-2022-8?utm_medium=ingest&amp;utm_source=markets">the smallest in about 20 years</a>. Most of the extra capacity within OPEC+ would likely lie in Saudi Arabia or the United Arab Emirates, Reuters said.Meanwhile, the US and Iran are also trying to revive the 2015 nuclear deal, which could allow Tehran to export another 1 million barrels a day on the global market. But analysts think that's <a href="https://markets.businessinsider.com/news/commodities/iran-nuclear-deal-unlikely-oil-prices-production-sanctions-goldman-sachs-2022-8">unlikely to happen soon</a>.

OPEC+ struggled to raise output in July, missing production targets by nearly 3 million barrels a day, report says

<ul class="summary-list"><li>OPEC's new secretary-general said the cartel can't be blamed for high oil and gas prices.</li><li>Underinvestment in the industry broadly is to blame for surging prices. </li></ul>OPEC's new secretary-general said the cartel can't be blamed for high oil and gas prices, and that the real problem is one of underinvestment in production across the entire industry.Prices have slipped in recent weeks but but remain volatile, while European sanctions on Russian oil products are set to kick in by the end-of-the year, threatening another surge in prices. The sanctions will take another 2.2 million barrels a day off the global energy market, experts say, which could drive <a href="https://markets.businessinsider.com/news/commodities/oil-price-outlook-120-tight-market-russia-china-us-reserve-2022-8">prices as high as $120 a barrel</a>, especially if Western nations have trouble replacing that supply. World leaders have implored the cartel of oil producing states to increase output and help meet demand. In July, President Joe Biden traveled to Saudi Arabia to secure a supply increase, but left mostly empty handed. Yet, the cartel's new leader, Haitham Al Ghais, says OPEC+ is not to blame for the energy crisis facing the world. "OPEC is not behind this price increase," Al Ghais said in an interview with <a href="https://www.cnbc.com/2022/08/17/haitham-al-ghais-opec-not-to-blame-for-soaring-inflation.html">CNBC</a>. "There are other factors beyond OPEC that are really behind the spike we have seen in gas [and] oil. And again, I think in a nutshell, for me, it is underinvestment – chronic underinvestment," Al Ghais added.Other experts in the industry have made similar observations, noting that many OPEC+ countries are at full capacity in terms of production, storage, and refining , and that US firms are feeling the same pressures. Goldman Sachs analyst Michele Della Vigna estimates OPEC+ has a <a href="https://markets.businessinsider.com/news/commodities/oil-natural-gas-global-energy-crisis-europe-west-russia-sanctions-2022-8">remaining capacity of roughly 1 million barrels per day</a>, the smallest in about 20 years.And there's no quick fix to the problem. According to Exxon Mobile CEO Darren Woods, it takes three to five years for <a href="https://markets.businessinsider.com/news/commodities/oil-price-outlook-stay-high-tight-supply-shell-exxon-ceo-2022-7?utm_medium=ingest&amp;utm_source=markets">investments in the energy sector</a> to result in a significant increase in output and global supply. Although high inflation and recession fears have led OPEC to cut its forecasts for oil demand, the world is still gripped by the volatility in energy markets. Europe in particular is bearing the brunt of the crisis and preparing for tougher days ahead as Russian gas supplies dwindle ahead of the coming winter. But a solution is outside of OPEC's hands, the cartel says. "This is the harsh reality that people have to wake up to and policymakers have to wake up to. Once that is realized I think then we can start to think of a solution here," Al Ghais said. "OPEC has a solution: invest, invest, invest."

OPEC's new chief says the cartel can't be blamed for high oil and gas prices, and underinvestment in the entire industry is behind the global energy crisis

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>The Organization of Petroleum Exporting Countries made a smart move to limit production, but the move has had some unforeseen effects, according to Goldman Sachs analysts. In November, some OPEC members agreed with a few non-members to lower their production levels in a bid to support oil prices. It was the most significant agreement since the oil crash in 2014 as OPEC fought for market share with US shale producers.The oversupply from the moves for market share pushed the oil market into contango. That's a situation where the price in the futures market is higher than the current spot price, meaning that traders are willing to pay more for oil in the future than now. Goldman's Michele Della Vigna said that the inventory build pushed the 2-year forward price of Brent crude, the international benchmark, $5.50 per barrel (or 11%) above the spot price. That situation helped US producers at the expense of OPEC. "As OPEC countries sell spot, but US E&amp;Ps [exploration and production companies] sell 50%+ of their production forward, this was giving the E&amp;Ps a competitive advantage," Della Vigna wrote in a note on Tuesday."Within one month of the OPEC announcement, the contango declined to US$1.1/bl (2%), achieving the cartel's purpose. However, the unintended consequence was to underwrite shale activity through a bullish credit market at a time when delayed delivery of the 2011-13 capex boom could lead to record non-OPEC production growth in 2018."In other words, OPEC's deal started producing the intended effect as oil prices rose. Meanwhile, investors continued to buy energy high-yield bonds to support US producers. "Exhibit 3 shows how successful OPEC was in tilting the shape of the Brent forward curve within one month of its announcement," Della Vigna wrote. "However, the unintended shale boom generated by low oil price volatility, a bullish credit market and management confidence is starting to impact the whole curve, shifting it downwards into the incentive price cost of shale production (US$50-55/bl on our estimates)."<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Goldman Sachs" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/58d12c37112f701c008b598c-960/screen shot 2017-03-21 at 93534 am.png"></a>Goldman Sachs</div></div></div>And so, OPEC's output cuts could have the unintended effect of hurting their members' economic growth."Headline GDP growth in the Gulf looks is likely to slow to an eight-year low of 1.5% in 2017," said Capital Economics' Neil Shearing in a note on Monday. "However, this will be entirely the result of oil production cuts as countries comply with last year's OPEC deal." Goldman included this chart which steps further back to illustrate the headache US shale producers are giving their OPEC counterparts. The efficiency of shale production reduced the oil price US drillers needed to break even, or produce without profit or loss. Low-cost OPEC producers then respond by increasing production where they can.<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Goldman Sachs" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/58d12de1d349f91f008b5bcb-960/screen shot 2017-03-21 at 94243 am.png"></a>Goldman Sachs</div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/7-mega-billionaires-who-made-a-fortune-last-year-2017-3">7 mega-billionaires who made a fortune last year</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="txZTM5YTE64gA4GFRYvPGavZ6kzc9laH" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

GOLDMAN: OPEC's oil production cuts were smart but they're having unintended consequences

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Edgar SuAn idle oil exploration vessel (L) is shrouded by haze in the Johor River in Malaysia's southern state of Johor October 6, 2015.</div></div></div>The oversupply in the oil market is absolutely killing prices and it's only set to get worse in 2016.Oil prices are over 50% lower than they were last year, but according to Goldman Sachs and an OPEC official, oil could crater to near $20 per barrel in 2016.Venezuelan oil minister Eulogio del Pino said on Sunday that OPEC cannot allow an oil price war and must take action to stabilise the crude market soon. When asked how low oil prices could go in 2016 if OPEC doesn't change its policy, he said: "Mid-20s."Meanwhile, Michele Della Vigna from Goldman Sachs told the Today programme on BBC's Radio 4 that oil could fall to as little as $20 per barrel. However, he added that there is only about a "15% probability that this might happen" and if oil was to fall to this level, it would only be temporary "shock to the system" before the market stabilised again. Crude oil futures lost ground on Monday in early Asian trading, as the global supply surplus pressured prices, but a cut in the number of US oil rigs for an 11th week in the last 12 limited the falls.Benchmark front-month Brent futures for January fell 16 cents or 0.36 percent at $44.50 a barrel as of 0011 GMT after it ended up 48 cents at $44.66 a barrel on Friday.US. crude's West Texas Intermediate (WTI) January contract also shed 31 cents or 0.74 percent at $41.59 a barrel against its previous settlement at $41.90. US crude's December futures which expired on Friday ended 15 cents down at $40.39 after hitting a low of $38.99, the cheapest since Aug. 27.Algeria's energy earnings are forecast to fall to $26.4 billion next year while foreign exchange reserves will dip to $121 billion after low oil prices cut into the OPEC nation's economy, Finance Minister Abderrahmane Benkhalfa said on Sunday.<div class="KonaFilter image-container display-table"><div><div class="image on-image">John Moore/Getty ImagesAn oil rig sits on a hillside on November 14, 2015 near Derek, in Rojava, Syria.</div></div></div>U.S. crude were briefly supported on Friday as U.S. drillers removed 10 oil rigs in the week ended Nov. 20, the biggest weekly decline since late October, bringing the total rig count down to 564, oil services company Baker Hughes Inc said in its closely followed report.Markets eyed on developing geopolitical tensions in the oil-producing Middle East as Jordan's King Abdullah, a U.S. ally, will hold talks in Moscow on Tuesday with Russian President Vladimir Putin on how to tackle "terror groups" led by Islamic State in Syria, an official source said.Shares in major equity markets gained on Friday and the euro weakened against the dollar as investors anticipated actions by U.S. and European central banks next month.A top Fed official said on Saturday that there is a "strong case" for raising interest rates when Federal Reserve policymakers meet next month, as long as U.S. economic data does not disappoint.

You Searched For "michele della vigna" and got 6 results

Goldman Sachs says renewable-energy spending will surpass oil and gas for the first time ever in 2021 — and sees total investment spiking to $16 trillion over the next decade

Ben Winck

There is no quick fix to the global energy crisis with OPEC+ capacity at a 20-year low, Goldman Sachs analyst says

Jennifer Sor

OPEC+ struggled to raise output in July, missing production targets by nearly 3 million barrels a day, report says

Jennifer Sor

OPEC's new chief says the cartel can't be blamed for high oil and gas prices, and underinvestment in the entire industry is behind the global energy crisis

Jennifer Sor

GOLDMAN: OPEC's oil production cuts were smart but they're having unintended consequences

Akin Oyedele

Goldman Sachs and OPEC: Oil prices could crater to around $20 per barrel in 2016

Lianna Brinded,Reuters

Popular Keywords

Buying Guides