Global Markets Direct just came out with their Top Ten Global Energy Trends in 2009.

1. Capital expenditure on oil exploration and production will continue to stagnate in 2009
2. Oil price volatility to continue in the short term but likely to stabilize within a lower narrow band by the end of 2009
3. Clean energy projects will play a crucial role in the long term energy needs of the world although there will be reduced investment in 2009
4. New investments in unconventional oil and gas projects will decline in 2009
5. Coal will continue to be the highest consumed energy source in 2009 despite a shift towards nuclear and alternative sources
6. Nuclear energy will play an increasing role in meeting the global energy needs even though some new projects might be delayed in 2009
7. European countries’ will continue to increase efforts to reduce their dependence on Russian natural gas in 2009
8. Demand for natural gas to continue to increase in 2009
9. Electricity generation capacity to grow in 2009 while distribution and transmission would require further investments
10. Rise in construction costs will delay projects in the refining sector

You can purchase the complete report here

The only thing wind is good for now is to fly a kite.

T. Boone Pickens has delayed his 4,000-megawatt wind farm in the Texas Panhandle because lower prices for natural gas make it uneconomical.

Since the price of natural gas has decreased under $7 per million Btu, it would be more expensive to to produce energy from wind farms. Pickens says that natural gas prices would have to be over $9 per million Btu for wind energy to be advantageous.

This is another sign of how the low oil and natural gas prices have slowed down alternative energy. With the lower prices, people have been losing interest in alternative energy technologies. Once prices rise again, there will be a renewed push for alternative energy resources where businesses can make money from alternative energy sources.

I’m a big fan of the X PRIZE Foundation because of the ingenuity and creativity that they promote with their record breaking contests in different fields such as aviation, energy, and science. And you know I’ve been watching the progress of the Auto X PRIZE here on my blog.

What’s amazing about their prizes as well is that you can submit your own idea for a prize. What do you think as impossible? How will it benefit all of mankind? These are the challenges that the X PRIZE Foundation wants to support.

Ken Beitel, a computer systems analyst and documentary film producer, has entered the contest and is proposing that the next X Prize be a $10 billion corporate challenge focusing on renewable energy investment:

First Company or Corporate team to Generate $10 billion in Renewable Energy Investment via Retirement Plans Could be the Winner of a Proposed New X Prize. Adding a renewable energy sector fund to 401(k) retirement plans will: 1)generate a significant number of new jobs 2)create a healthy economy, 3)increase clean energy production, 4)lower energy costs and combat climate change

You can catch a 2 minute video of his idea at The Renewable Energy Initiative which he pitches his project.

I think it’s a great idea for a prize, and we’ll have to see if the X PRIZE Foundation chooses it.

Think you have something better? Submit your proposal to the Foundation by November 18th, 2008 as they will begin judging the entries that have been submitted.

I wrote a breakdown of energy policy that both Obama and McCain proposed if they were to be president. Now that Obama has won the presidential election, it’s important to go back and review his proposals more closely to see what he wants to do during his term in office.

Barack Obama’s energy plan calls for investing $150 billion in renewable energies that will generate 5 million jobs in America.

You can read more details into Barack Obama’s energy plan on his factsheet for New Energy for America.