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Solar.  China’s Commerce Ministry strongly criticized the United States’ decision on Tuesday to impose broader antidumping and antisubsidy tariffs on solar panels from China. Although the penalties are still subject to final confirmation next month from the International Trade Commission, the ministry released a statement today urging the U.S. to consider the negative repercussions of harming such a strategic emerging industry related to global sustainable development.  NY Times

Natural Gas.  Mitch McConnell announced in a statement yesterday that the new Republican-controlled Senate’s first act in January will be approval of the Keystone XL pipeline. While the bill will be open for both parties to offer energy-related amendments, Republicans may still find it difficult to win the 67 votes needed to override a veto from President Obama.  Reuters

Oil.  According to the Billion Prices Project, which scrapes the Internet daily to monitor changing prices online, oil may be dragging down prices faster than the official U.S. price index can capture. While the Labor Department’s official measure of consumer prices has shown a decline in the annual change in inflation from 2.1% this summer to 1.7% in October, the Project’s State Street PriceStats inflation series shows the annual change declining to 1%.  WSJ

Oil.  The U.S. Energy Information Administration reported Tuesday that U.S. households are on track to spend the least amount of money on gasoline in 11 years. The price for regular gasoline in the U.S. has fallen 11 weeks in a row to $2.55 per gallon – down more than a dollar since its 2014 peak in April. The average household is expected to spend about $1,962 on gasoline in 2015 – $550 less than it did a year ago.  WSJ

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Oil.  Oil prices fell below $59 per barrel for the first time since May of 2009 this morning — a demonstration of continuing market concerns about global demand, weakening emerging-market currencies, and slowing Chinese factory activity.  On the upside, some leading investment analysts predict that oil demand from commodity-producing markets in Latin American and the Middle East will soon increase due to sharp declines in commodity prices and weakening commodity currencies.  Reuters

Energy Outlook.  Reuters reports that in the four historical “episodes” in which oil prices declined sharply over a relatively short time, the price slumps were completed quickly and were accompanied by a disproportionately smaller downturn in U.S. drilling activity compared with the fall in prices.  While such comparisons may not accurately predict market activity with the current price slump, they suggest that U.S. drilling activity has substantial “inertia” with respect to price volatility.  Reuters

Oil.  Liam Denning of the Wall Street Journal questions the ability of political crises to re-balance global oil supplies in 2015, particularly as falling oil prices destabilize regimes in many oil-producing countries.  Denning concludes that while political shocks may jolt prices momentarily, structural shifts such as the shale boom and progress in energy conservation are likely to have a longer-term impact on oil prices.  WSJ

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Climate Change.  Yesterday top officials from nearly 200 countries agreed to a global pact committing every country in the world to reduce emissions from fossil fuels. The climate pact includes no specific requirements or sanctions against nations who do not comply, but will rather rely on global peer pressure to compel countries to step up efforts to combat global warming.  NY Times

Oil.  A Bloomberg survey of 17 analysts suggests that Brent crude oil prices are poised to fall to as low as $50 per barrel in 2015 — more than 50% less than last June’s Brent price of $115.71 per barrel.  While some respondents predicted that current prices may be close to the “floor”, nearly five out of six respondents expect that prices will need to fall significantly further to clear the current supply glut.  Bloomberg

Energy Policy.  Charles Ebinger of the Brookings Institute testified before the U.S. House of Representatives Energy and Commerce Committee last week as part of a hearing about the Energy Policy and Conservation Act of 1975 — the piece of legislation that enacted the current crude-oil exports ban. Ebinger asserts that hopes of US energy independence are misled, as lifting the ban will “lead to foreign policy benefits, increase U.S. GDP and welfare, and reduce unemployment”. Brookings

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Oil.  Regulators in North Dakota ordered oil producers from the Bakken shale region to begin removing flammable natural gas liquids from crude oil before rail shipments. The rules — set to go into effect in early 2015 — should improve safety by decreasing fire risk from railcars that are punctured during travel, but will also increase the cost of shipping crude by rail. NY Times

Energy Policy.  While falling oil prices are giving many consumers additional disposable income into the holiday season, some states are enacting spending cuts in order to compensate for reduced oil tax revenues.  In most states, additional consumer spending will outweigh reduced oil tax revenue.  States where oil and gas comprises much of the state economy, however, will have to either tap into savings or reevaluate planned projects if prices remain at low levels.  WP

Oil.  Bloomberg notes that Americans’ use of petroleum is declining despite soaring U.S. production levels and plunging crude prices. This fall in U.S. oil consumption is largely due to improvements in fuel efficiency, changing demographics, and an increase in renewable power. Bloomberg

Energy Outlook. Reuters reports that many U.S. investors are seeking master limited partnerships — funds that typically invest in energy infrastructure including storage facilities and pipelines — as a means of “betting” on long-term North American energy growth while largely bypassing the volatility of oil prices.  By contrast, traditional energy funds that are closely tied to the commodity price of oil are down by as much as 29% since June.  Reuters

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Keystone.  The Wall Street Journal reports that political turmoil surrounding the Keystone XL pipeline has led to resistance for at least ten other pipeline projects across North America, six of which have since been delayed.  Opposition and delays are making these proposed projects considerably more expensive, with some second cost estimates nearly doubling in amount.  WSJ

Oil.  OPEC reduced expected global demand for its crude oil by 280,000 barrels per day (bpd) and more than one million bpd less than current production.  The 2015 forecast revision is due in part to growth in oil supplies from the U.S. and other non-OPEC sources, as well as a weaker economic outlook for Europe and Asia.  Reuters

Climate Change.  Eduardo Porter of the New York Times discusses the tension between environmental concerns and economic growth in many of the world’s poorest countries, particularly in light of the current international push for widespread ambitious emissions cuts. Porter notes that when economic growth is threatened, environmental concerns often drop to the bottom of developing nations’ priorities.  NY Times