Barack Obama tells G20 a global climate change deal is possible and vital.

November 15, 2014 Climate 

Guardian: “US president says every nation has a responsibility to do its part and ‘overcome old divides, look squarely at the science and reach a strong global climate agreement next year’”.
Read more

Fracking boom means soaring demand for sand – and clouds of dust.

November 14, 2014 Gas, Oil 

Bloomberg: “A little sand mine down the road didn’t seem like a big deal 17 years ago, when Alphonse Dotson picked the site for a vineyard in the Texas Hill Country.”
Read more

House of Representatives passes bill approving Keystone XL oil pipeline.

November 14, 2014 Climate, Oil 

Guardian: “The Republican-controlled House of Representatives passed a bill to approve the Keystone XL oil pipeline with a resounding majority on Friday, setting the stage for a showdown in the Senate next week.”
Read more

IEA warns oil-price “rout” will deepen, pressure increase on OPEC, Russia.

November 14, 2014 Oil 

Bloomberg: “Oil prices could slide from a four-year low in the coming months as the market enters a period of weaker demand, increasing pressure on OPEC to reduce production, the International Energy Agency said.”
Read more

Fracking “no silver bullet”, say EU science academies.

November 13, 2014 Gas, Oil 

Guardian: “There are no scientific or technical grounds to ban fracking in Europe but it will not be a “silver bullet” to improve energy security or cut emissions, European science academies have said.”
Read more

IEA: US shale boom masks threat to world oil supply.

Bloomberg: “The U.S. shale boom masks threats to global oil supply including Middle East turmoil, conflict in Ukraine and the difficulty of unconventional oil production beyond North America, theInternational Energy Agency said.”
Read more

Ministers are hyping UK shale, says UK Energy Research Centre.

November 12, 2014 Gas, Oil 

BBC: “Ministers have “completely oversold” the potential of shale gas, energy experts say. Researchers from the UK Energy Research Centre (UKERC) told the BBC promises of lower prices and greater energy security from UK shale gas were “hype” and “lacking in evidence”.”
Read more

Rich countries subsidise fossil fuels by $88bn a year.

November 11, 2014 Climate, Coal, Finance, Gas, Oil 

Guardian: “Rich countries are subsidising oil, gas and coal companies by about $88bn (£55.4bn) a year to explore for new reserves, despite evidence that most fossil fuels must be left in the ground if the world is to avoid dangerous climate change.”
Read more

China & U.S. agree to limit greenhouse gases after secret negotiations.

November 11, 2014 Climate 

Washington Post: “Chinese leader Xi Jinping and President Obama struck a deal Wednesday to limit greenhouse gases, with China committing for the first time to cap carbon emissions and Obama unveiling a plan for deeper U.S. emissions reductions through 2025.”
Read more

“Watershed moment” for bank regulation: BoE.

November 10, 2014 Finance 

Guardian: “The governor of the Bank of England has said that policymakers had achieved a “watershed moment” in their attempts to avoid a repeat of the taxpayer bailouts of the banking system six years ago.”
Read more

The world’s largest coal mine, in Wyoming, barrels on.

November 10, 2014 Climate, Coal 

Guardian: “In the world’s biggest coalmine, even a 400 tonne truck looks like a toy. Everything about the scale of Peabody Energy’s operations in the Powder River Basin of Wyoming is big and the mines are only going to get bigger”
Read more

UK government intends to create a shale sovereign wealth fund.

November 10, 2014 Gas, Oil 

Business Green: “A plan for new shale gas tax revenues to be deployed in a UK sovereign wealth fund is to be debated in the House of Lords on Monday.”
Read more

“Shale drillers idle rigs from Texas to Utah amid oil rout.”

November 8, 2014 Gas, Oil 

Bloomberg: “The shale-oil drilling boom in the U.S. is showing early signs of cracking. Rigs targeting oil sank by 14 to 1,568 this week, the lowest since Aug. 22, Baker Hughes Inc. (BHI) said yesterday. The Eagle Ford shale formation in south Texaslost the most, dropping nine to 197. The nation’s oil rig count is down from a peak of 1,609 on Oct. 10.”
Read more

How Chevron uses black arts PR to whitewash its excesses.

November 7, 2014 Climate, Gas, Oil 

Guardian: “Mike Aldax has been called a corporate prostitute, a propagandist for big oil, an apologist for pollution, Voldemort and more. But he’d rather you call him a journalist.”
Read more

Poland rejects IPCC target of zero emissions by 2100.

November 7, 2014 Climate 

Guardian: “Poland and other eastern Europe countries have categorically rejected the target put forward by the world’s top climate scientists to reduce carbon emissions to zero by 2100 to avoid dangerous global warming, leaked documents show.”
Read more

India plans $100bn of renewables investment by 2020.

November 6, 2014 Clean Energy 

FT: “India will need $250bn of investment in power generation and transmission over the next five years to meet its goal of doubling electricity output and connecting everyone to the grid, according to the new government.
Read more

First research shows climate change threatens pollination.

November 6, 2014 Climate 

Guardian: “Sexual deceit, pressed flowers and Victorian bee collectors are combined in new scientific research which demonstrates for the first time that climate change threatens flower pollination, which underpins much of the world’s food production.”
Read more

Opec weakness at low oil price means US shale drillers “might win”.

November 6, 2014 Gas, Oil 

Bloomberg: “Here’s why the U.S. shale upstarts just might win a confrontation with Saudi Arabia as oil sinks: While the Arab nation is as flush with cash as ever, the finances of some fellow OPEC members are deteriorating quickly.”
Read more

EOG is the only shale driller expected to generate cash this year and next.

November 5, 2014 Gas, Oil 

Bloomberg: Headline: “How EOG, an Enron castaway, became the ‘Apple of Oil’.”As crude prices plunge below $80 a barrel and billions are erased from the market value of energy companies, there’s one U.S. oil producer that most analysts still think makes a good buy.”

Read more

“Fracking’s mythology is single biggest threat to the solar revolution.”

November 5, 2014 Clean Energy, Climate, Coal, Commentaries, Finance, Gas, Oil 

Jeremy Leggett in Recharge magazine: “There are days of late when the solar revolution seems to be an inevitability, and an imminent one.
When one reads that by 2020 an “energy trio” purchase of solar roof plus electric vehicle plus domestic battery will be able to pay for itself within six to eight years, while giving a 7% pre-tax return on investment, how could it be otherwise? Especially when that prognosis comes from a team of analysts at the world’s biggest private bank. Such developments, UBS says, will change the face of the energy industry.
But then there are days when the vehemence of the incumbency’s rearguard action is so daunting that one wonders if Big Energy can delay the solar revolution, maybe for years, or even derail it.”
Read more