Energy & Natural Resources

RHG assesses global commodity market developments and energy and environmental policy trends. We combine energy and natural resource expertise with RHG’s China, India and advanced economies macro and political analysis for unique insight on oil, gas, coal, agricultural and base metals market dynamics.

RHG’s energy and natural resources team, led by Trevor Houser, brings together energy and environmental policy experience, economic and commodity market modeling expertise, and region and industry-specific insight to help clients anticipate, understand and respond to disruptive energy and natural resource trends. Our coverage includes global oil, gas, coal and agricultural markets, US power and natural gas, emerging Asian energy and base metals supply/demand forecasting, and national and international energy and environmental policy assessment.

RHG retainer clients receive regular market-oriented research on all RHG coverage areas including energy and natural resources, and direct interaction with Trevor and his team. Clients seeking support for specific energy and natural resources-related business decisions, strategic planning processes or policy deliberations can engage RHG on a special project basis. In addition Trevor is a frequent speaker for high-level audiences including corporate  boards, investment committees, strategic planners and portfolio managers.

Report

Tracking America's Energy Bill

by Trevor Houser

Energy costs are a key variable in US economic performance. Yet available data on how much Americans spend fueling their cars, heating their homes and lighting their offices either lags by a couple years or is incomplete.  This month, we are introducing the RHG Energy ...

  • Note

    China's 2012 Energy Report Card

    by Trevor Houser | February 27, 2013 China’s 12thFive Year Plan includes a bevy of energy targets Beijing hopes to achieve between 2011 and 2015. Late last week the country’s National Bureau of Statistics released full-year energy supply and demand data for 2012, providing an early indicator on how China is doing two years into the plan. We’ve combed through the numbers, done the math, and offer a report card on Beijing’s progress to date in achieving its big three energy ambitions.

  • Note

    Coal Claws Back

    by Trevor Houser and Shashank Mohan | February 14, 2013 In his State of the Union address on Tuesday, President Obama welcomed the environmental benefits of low-cost natural gas, noting that US CO2 emissions have declined sharply over the past four years. Indeed, coal’s share of US electricity generation fell to 33% in April 2012, the lowest level seen in decades, thanks in large part to cheap natural gas, and US CO2 emissions in the first half of 2012 were 13% below 2005 levels. But as gas prices have risen in recent months, so has demand for coal for power generation. Absent new policy, the recent drop in emissions has likely run its course.

  • Note

    Iran Sanctions: The Year in Review

    by Trevor Houser | February 11, 2013 Trade data on how Tehran fared under the first year of international sanctions aimed at choking off the country’s crude oil exports is now available. We offer a roundup of Iranian oil exports in 2012 and discuss the outlook for the year ahead.

  • Report

    American Energy Productivity

    by Trevor Houser and Shashank Mohan | February 7, 2013 RHG assesses the economic, environmental and security implications of the Alliance to Save Energy's goal of doubling US energy productivity by 2030, adopted by President Obama in his State of the Union Address.

  • Note

    The IEA Gets Excited about America’s Oil Boom

    by Trevor Houser | November 12, 2012 Today the International Energy Agency (IEA) released their 2012 World Energy Outlook. One of the most striking changes from the 2011 edition is the outlook for American oil production, with the IEA upward revising their projection for US oil output in 2020 by 35%. The report describes recent changes in American energy landscape as “profound” and promises their effects will be “felt beyond North America”. In this note, we look at how IEA’s new projections stack up against other leading forecasts and what they mean for American “energy independence”.

  • Note

    Update: US Emissions Continue to Decline on the Back of Natural Gas

    by Trevor Houser | July 27, 2012 Earlier this month, the Energy Information Administration (EIA) announced that the US produced more electricity from natural gas than from coal in April thanks to the dramatic shale-driven decline in natural gas prices. Today, EIA released complete April energy sector data and, as you might expect, US CO2 emissions have declined alongside coal’s market share, continuing a trend we discussed in our May 7 note. Power sector CO2 emissions are down 12% from a year ago and total US CO2 emissions have declined by 6%. Measured against 2005 (the base year used for America’s international climate change commitments) and January-April CO2 emissions are down 19% and 14% for the power sector and the economy as a whole respectively.

  • Note

    The Impact of Iran Sanctions Six Months In

    by Trevor Houser | June 27, 2012 Over the coming week, Western sanctions on Iranian oil exports formally take effect. Starting tomorrow, any bank processing payment for Iranian crude trade received an exception, and as of Sunday, shipping insurance providers will lose their European-based reinsurance if they continue to cover Iranian oil cargos. This note provides a wrap-up of the oil market impacts of sanctions to date and an outlook for the months ahead.

  • Note

    US Power Sector Meets 2020 Climate Change Target – for a Month

    by Trevor Houser | May 7, 2012 At the UN climate change conference in Copenhagen in 2009, the US committed to cut greenhouse gas emissions 17 percent below 2005 levels by 2020 – a target included in cap-and-trade legislation that had passed the House of Representatives earlier that year. With the death of cap-and-trade in the Senate and the Republican takeover of the House, America’s ability to meet this emission reduction goal has been in doubt. In January of this year, however, US emissions came in 13% below 2005 levels, and power sector emissions were down by more than 17% – achieving the 2020 target eight years early.