“The Shale Industry Could Be Swallowed By Its Own Debt”: Bloomberg. “The debt that fueled the U.S. shale boom now threatens to be its undoing.” Debt $235 bn Q1, up as revenue fell.
UK public split on fracking. Tories & UKIP pro, Labour, LibDems & Nats mostly against. March poll: 24% in favour of extracting shale gas, 26% against 44% are neither for or against.
Other religions echo Pope’s plea on climate. Scholars from Hinduism, Islam, Judaism and leading evangelicals tell RTCC why the environment matters to their religion.
“Ticking time bomb: the solvency of Greece’s Banks.” FT: “As anxious savers withdraw deposits, economists warn Greek lenders could collapse.”
Pope’s climate change encyclical tells rich nations to pay back their debt to the poor. His encyclical casts blame for ecological crisis on the indifference of the powerful.
Replace fossil fuels, encyclical says. “The use of highly polluting fossil fuels – especially coal, but also oil and, to a lesser degree, gas – needs to be progressively replaced without delay.”
(In Carbon Brief summary of key statements).
Jeb Bush joins Republican backlash against Pope. He becomes second of five Catholic presidential contenders to do so. Arch Coal lobbyist says Pope ignores energy poverty.
US Catholics ready to follow Pope’s ‘marching orders’ on climate change. “A vast and highly organised effort by the leadership of America’s nearly 80 million Catholics….”
First US Presidential election candidate backs 100% clean energy. Martin O’Malley, a Catholic, has served as the governor of Maryland. He sets a target of 2050, citing the encyclical.
“Will Pope Francis’s encyclical become his ‘miracle’ that saved the planet?” Damian Carrington thinks it might.
Heavily redacted report on the impact of fracking in the UK should be released in full. So the information commissioner tells environment department.
REN21 review of renewables record year published. RE installations up 128 GW on 2013; 164 countries with RE targets; 59% of net additions to world’s power capacity.
Crunch day for Greek debt. Greek prime minister prepares last-ditch offer to avoid default on debts.
NB: “The austerity delusion”. Paul Krugman argues that “the case for cuts was a lie. Why does Britain still believe it?”
“The Pope Is The Climate Change Churchill Humanity Desperately Needs.” Joe Romm: “He has just elevated (climate change) to its rightful place as the transcendent moral issue of our time.
“Behind the Scenes With the Pope’s Secret Science Committee.” Eric Roston profiles the Pontifical Academy of Sciences, and describes how other religions have been consulted.
UK one of only 3 EU countries to miss renewables target. UK misses 5.4% 2013/14 interim target (5.1%) , and is on course to miss 15% energy by 2020 (EU 20% target, 15.3% in 2013).
Obama commits to form clean-energy investment clearinghouse. New office of technology transitions to connect investors with clean-energy firms. It starts with $4bn in commitments.
Global temperatures breaking records in 2015. As of now, 2015 is fully 0.1°C (0.17°F) hotter than last year, which itself was the hottest year on record.
Pope Francis warns of destruction of world’s ecosystem in leaked encyclical. The draft ascribes global warming mostly to humanity, and calls for action to cut emissions.
IEA report offers strategy for delivering a peak in energy emissions by 2020. This could be done at no net cost with 5 policy measures, the World Energy Outlook Special Report argues.
Renewable power will overtake coal if climate pledges are kept. Within 15 years, they will be top source of electricity at 32%, , up from 20% today, IEA says, releasing its emissions analysis.
UK may have negative power prices by 2020 if it hits renewables target. So says National Grid. Having to curb cheap supply from green power is a waste, says a spokesperson.
“It is time the world kicked its coal habit:” FT leader. China’s shift to gas should be welcomed, but the pace of renewables growth is too slow.
ABC Four Corners Program: The End of Coal. “With the price of coal plummeting and our biggest customers turning to renewable energy, is Australia backing a loser?” So ABC asks.
“Coal crash: how pension funds face huge risk from climate change.” Tom Sanzillo: “Coal is arguably the worst performing sector in the whole world.”
Council gives fracking go ahead for Caudrilla at one Lancashire site but not a second. The refusal is based on heavy lorry traffic.
Pope calls for rich to pay their debts on climate, US bishops agree with him, US Republican candidates disagree with him, US shale industry faces mass bankruptcy in face of debt mountain: Week 24, 2015