Up to 40% of China’s coal at risk of stranding by 2020.

June 5, 2014 Climate, Coal, Finance 

Carbon Tracker: “Up to US$21 billion annual spend on thermal coal assets reflects high risk strategy of China’s coal companies in face of rapidly transitioning energy sector.”
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Why solar is on a roll.

June 4, 2014 Clean Energy, Coal, Commentaries, Gas, Oil 
Jeremy Leggett in Recharge magazine: “What is an investor to make of the roller-coaster ride that has been the evolution of value in the PV industry, notwithstanding its steady global rise this past decade?”
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New IEA capex numbers entail upside oil price risk & asset-stranding risk.

June 4, 2014 Gas, Oil 

Mark Lewis of Kepler Cheuvreux (no url):  ”The International Energy Agency yesterday published a special report entitled World Energy Investment Outlook (WEIO 2014), and we think the stand-out takeaway is the very large increase the Agency sees in the amount of upstream oil capex required over 2014-35 under its base-case scenario (the New Policies Scenario, or NPS)”
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US hits Chinese solar manufacturers with more tariffs.

June 4, 2014 Clean Energy 

REW.com: “Yesterday the U.S. Department of Commerce announced that it would impose preliminary countervailing duties (CVD) on Chinese-manufactured solar modules in an effort to close the loophole that was created when it imposed initial tariffs on Chinese-manufactured solar cells back in 2012.”
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Berlin prepares to allow fracking as early as next year.

June 4, 2014 Gas 

FT: “Germany is set to lift its ban on fracking as early as next year, after caving in to business demands that it should reduce its dependency on Russian energy and boost competitiveness with US manufacturers.”
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UK government confirms plan for fracking under homes absent permission.

June 4, 2014 Gas, Oil 

Guardian: “The government confirmed its intention to change trespass laws and allow fracking companies to drill under people’s homes without their permission in the Queen’s speech on Wednesday, but the measure was not included in the infrastructure bill as expected.”
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China to limit carbon emissions for first time, climate adviser claims.

June 3, 2014 Climate, Coal 

Guardian: “China, the world’s biggest greenhouse gas emitter, will limit its total emissions for the first time by the end of this decade, according to a top government advisor.”
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Members reject US Chamber of Commerce stance on climate.

June 3, 2014 Clean Energy, Climate, Coal, Gas, Oil 

Climate Progress: “Days before President Obama’s EPA Administrator Gina McCarthy announced sweeping new rules to limit the amount of carbon pollution that existing power plants can dump into the atmosphere, the U.S. Chamber of Commerce released a report blasting the then-unreleased regulations as certain to raise electricity prices, kill jobs, and slow the economy. But leading climate-friendly members of Chamber don’t want to be associated with its anti-climate report.” Read more

Obama takes personal charge against the backlash. 70% support him.

June 3, 2014 Climate, Coal, Gas, Nuclear, Oil 

Guardian: “Barack Obama took personal charge of the campaign for historic new climate change regulations on Monday, defending a 30% cut in carbon pollution from power plants from a backlash by business lobbies, conservative groups and Democrats in oil and coal states.”
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The flip-side of the Obama coal plan: 35% increase in gas generation.

June 3, 2014 Climate, Coal, Gas 

Bernstein Research (no url): The principal observation is that the goal is not as ambitious as it seems because the target is backward-dated to 2005 and the U.S. is already 10% below that benchmark level.  Furthermore, an additional 9% will be realized by regulations already in motion by 2017, so the true absolute reduction is more like 11% by 2030.
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“How solar will destroy the power companies, in 5 easy steps.”

June 3, 2014 Clean Energy, Coal, Gas, Nuclear 

BusinessInsider: “Barclays recently downgraded the entire U.S. electric utilities sector to “underweight” on the threat posed by widespread adoption of solar-storage. These systems allow homeowners to use rooftop solar panels and a battery to cut all but the figurative emergency backup cord to their local electricgrid, putting a severe strain on an industry that has been a defacto monopoly.”
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$300bn of fossil fuel assets risk being stranded by 2035, says IEA.

June 3, 2014 Climate, Coal, Finance, Gas, Oil 

Environmental Finance: “The International Energy Agency (IEA) has warned investors that “around $300 billion in fossil fuel assets [could be] left stranded by stronger climate policies” by 2035.”
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Obama unveils historic rules to reduce coal pollution by 30%.

June 2, 2014 Clean Energy, Climate, Coal, Gas 

Guardian: “The Obama administration unveiled historic environment rules cutting carbon pollution from power plants by 30% on Monday, spurring prospects for a global deal to end climate change but setting up an epic battle over the environment in this year’s mid-term elections.”
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Big energy pushback in Germany posing increasing danger to renewables.

June 2, 2014 Clean Energy 

REW.com: “There’s bad news in the pipeline for Germany’s small-scale producers of renewable energy, the backbone of the country’s heralded Energiewende, or clean-energy transition.”
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World energy supply requires $40 trillion investment by 2035: IEA.

June 2, 2014 Clean Energy, Coal, Finance, Gas, Nuclear, Oil 

REW.com: “Meeting the world’s energy supply needs by 2035 will require $40 trillion of investment, as demand grows and production and processing facilities have to be replaced, the International Energy Agency said.” ie $2 trillion each year on average.
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Shale rush in Argentina as oil majors spend billions on fracking.

May 30, 2014 Climate, Gas, Oil 

desmogblog: “While many countries, including France, Germany and South Africa, have banned or delayed their embrace of fracking, one country is taking a full-steam-ahead approach to the unconventional drilling technology: Argentina.”
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US-China trade dispute slows the solar success story.

May 30, 2014 Clean Energy 

REWworld.com: “Next week, the International Trade Commission (ITC) plans to announce its initial decision regarding the expansion of the trade restrictions on imported Chinese, Taiwanese and other solar cells and modules in response to a complaint filed by SolarWorld earlier this year.”
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Top bosses quit Centrica, “tiring of their status as punchbags”.

May 29, 2014 Clean Energy, Climate, Coal, Gas, Nuclear 

FT: “The steady stream of departing executives at Centrica is rapidly turning into a flood, as top bosses tire of their status as Britain’s biggest political punchbags.”
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Chevron backs off renewables to free cash for more oil and gas.

May 29, 2014 Gas, Oil 

Bloomberg: “For the past eight years, Chevron has promoted “profitable renewable energy” as a core component of its business plan. The company’s slogan, “Finding newer, cleaner ways to power the world,” is splashed across its website. And ads launchedin 2010 as part of Chevron’s “We Agree” campaign declare, “It’s time oil companies get behind the development of renewable energy.” Yet Chevron recently has retreated from key efforts to produce clean energy.”
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Total drops $11bn tar sands project, citing cost pressure.

May 29, 2014 Oil 

Globe & Mail: “The Joslyn oil sands mine has been shelved indefinitely, a result of rising industry costs that made the $11-billion project financially untenable.”
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