Energy Roundup: OPEC Meets, Obama's Energy/Enviro Lineup, UAE Looks Nuclear, and More

OPEC meeting begins, oil production cut likely — Meeting in Algeria, the group of oil-producing countries may reduce production by as many as two million barrels a day, OPEC president Chakib Khelil said yesterday. He said between $70 and $80 per barrel would be a fair price. Oil prices began around $45 on Tuesday [Source: AP]

Obama announces climate-change team — U.S. President-elect Barack Obama named key members of his energy and environmental team yesterday in Chicago. Obama named Nobel Prize-winner Steven Chu energy secretary, and also appointed a climate czar, EPA chief and head of the White House Council on Environmental Quality [Source: AFP]

UAE wants commercial nuclear energy agreement with United States — Saying nuclear power is a necessary part of answering their growing energy need, The United Arab Emirates is nearing a contract with the United States that would allow that Saudi Arabian neighbor to develop nuclear energy. [Source: The National]

Obama would support offshore drilling in broader energy plan — The President-elect said he was “not thrilled” that Congress has let a moratorioum on offshore drilling expire without completing a broader energy plan. He would back oil exploration off some U.S. coasts as part of that broader energy plan, Obama said. [Source: Reuters]

Semiconductors to the rescue — “Everything that is important to this world will be solved by semiconductor technology,” said National Semiconductor CEO and Chairman Brian Halla . Halla’s claim came at the EcoChip forum hosted at computer-chip company Actel’s Silicon Valley headquarters yesterday. Big semiconductor companies have research budgets for green energy products but have been “chasing the easy money,” he said, noting gadgets like cell phones and video games. [Source: Earth2Tech]

First private wind farm in the U.K – The first privately-owned cooperative wind farm in the United Kingdom is growing. Five turbines are up and running on a community farm supported by most local residents. Following that lead, seven farms are now operating in the country and have some 5,000 investors [Source: AFP via ClipSyndicate]