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IEEFA Update: Exxon Sends Investors Down a Russian Rabbit Hole

Well-Timed Ploy to Divert Attention From Balance-Sheet Rot Eating Away at World’s Biggest Oil Company; Public Relations Plum for Putin; Another Blow to Shareholders

News comes today that ExxonMobil is applying for a U.S. government waiver on sanctions against the Kremlin that are keeping the company from developing new oil reserves in Russia. The sanctions in question, imposed in response to Russia’s annexation of Crimea in 2014, specifically forbid U.S. corporate deals with Rosneft and specifically named the head of the […]

April 20, 2017 Read More →
IEEFA Update: Even Without Tax Credits, Prices for U.S. Wind and Solar Are on a Downward Slope

IEEFA Update: Even Without Tax Credits, Prices for U.S. Wind and Solar Are on a Downward Slope

By the Early 2020s, Unsubsidized Wind and Solar Prices Will Beat the Variable Costs of Operating Coal and Natural Gas Plants

Wind and solar power purchase agreement (PPA) prices have declined dramatically in recent years, establishing a trend that continues. The levelized prices for power from utility-scale solar projects (5 MW and larger) declined by 73 percent from a capacity-weighted average of $154.20 levelized (in real $2015 dollars) in 2009 to an average of $41.10 per […]

IEEFA Europe: Offshore Wind Costs Maintain Falling Trend

Competitive Auctions Are Causing Developers to Drop Their Expectations for Government Subsidies

Europe achieved its lowest-ever bid for an offshore wind power project last week in a German auction in the North and Baltic Seas, an event that backs up a recent trend of cost reductions. Germany’s first so-called “reverse auction” for offshore wind shifts away from a feed-in tariff schemes in an approach intended to drive […]

April 18, 2017 Read More →

IEEFA Investor Memo ExxonMobil (XOM): Company Is an ‘Outlier’ in How It Reports Write-offs on Canadian Oil Sands Assets

Loss Accounting ‘Largely Overlooked by Industry Analysts;’ Full Transparency Could Affect Balance Sheet by $22 Billion

April 17, 2017  (IEEFA.org) – The Institute for Energy Economics and Financial Analysis (IEEFA) today published an investor memo questioning whether ExxonMobil has appropriately accounted for its recent write-off of billions of barrels of Canadian oil sands assets. In “ExxonMobil Investment Note,” IEEFA outlines how ExxonMobil remains the exception in the oil industry in its […]

April 17, 2017 Read More →
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