Greenpeace tries to stop unloading of first Arctic oil in Europe.

May 1, 2014 Climate, Oil 

Guardian: “The very different reactions of European countries to Greenpeace protests was seen on Thursday when 10 Dutch armed anti-terror police boarded the environment group’s flagship outside Rotterdam port and arrested 44 activists trying to stop a Russian tanker from unloading its shipment of Arctic oil.”
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Pro-tar sands Senators bid to take pipeline decision out of Obama’s hands.

May 1, 2014 Climate, Oil 

Guardian: “Barack Obama faced a new challenge on the controversial Keystone XL pipeline on Thursday when Democrats and Republicans in the Senate introduced a bill taking the decision out of his hands.
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Cleantech sector gaining steam – despite regulatory and other setbacks.

May 1, 2014 Clean Energy 

Sara Hastings-Simon, Dickon Pinner, and Martin Stuchtey of McKinsey: ”….Is cleantech failing? In a word, no. Rather, the sector has experienced a cycle of excitement followed by high (and often inflated) expectations, disillusionment, consolidation, and then stability as survivors pick up the pieces.” Read more

Harvard students seeking carbon-fuel divestment blockade uni offices.

May 1, 2014 Climate, Coal, Finance, Gas, Oil 

FT: “Students at Harvard University blockaded its administrative offices in support of their campaign to persuade the institution to sell the investments in fossil fuel companies held by its $33bn endowment.”
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“America’s fracking fantasy.”

May 1, 2014 Climate, Coal, Commentaries, Finance, Gas, Oil 
Jeremy Leggett column in Recharge magazine: “Neuroscientists have been enjoying an explosion of understanding of the human brain in recent years. Their research leads them to the view that we are “predictably irrational” in our thinking, individually and collectively.
This is a sobering analysis that most of us will immediately be inclined to reject, since another finding of neuroscience is that we tend to hate uncomfortable narratives. We much favour the comforting versions. Indeed, we are so predictably irrational that where a comforting narrative doesn’t exist, many of us tend to invent it. Let us test these thoughts by looking at developments in energy and world affairs in recent weeks. Russia has invaded Crimea.” Read more

Eighth significant US/Canada crude-oil train accident in a year.

May 1, 2014 Oil 

Guardian: “A train carrying crude oil partly derailed and then caught fire on Wednesday along the James river in Lynchburg, Virginia, with three leaking tankers ending up in the water. It is latest in a series of fiery accidents involving oil transported on North America’s rail network.”
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“Shale drillers feast on junk debt to stay on treadmill”: Bloomberg.

Bloomberg: “Rice Energy, a natural gas producer with risky credit, raised $900 million in three days this month, $150 million more than it originally sought. Not bad ….since it has lost money three years in a row, has drilled fewer than 50 wells — most named after superheroes and monster trucks — and said it will spend $4.09 for every $1 it earns in 2014.” Read more

France caught between a “nuclear cliff” and an “investment wall”.

April 30, 2014 Nuclear 

Reuters: “France must decide in the next few years whether it wants to continue its nuclear-driven energy policy at a cost of up to 300 billion euros ($415 billion) or if it wants to embark on an equally costly route towards using other fuels. Most of the country’s 58 nuclear reactors were built during a short period in the 1980s, and about half will reach their designed age limits of 40 in the 2020s, pushing France towards what industry calls “the nuclear cliff.”
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Exxon: None of our reserves are at risk of stranding by climate policy.

April 30, 2014 Climate, Gas, Oil 

ExxonMobil letter to shareholders: ”….For several years, our Outlook for Energy has explicitly accounted for the prospect of policies regulating greenhouse gas emissions (GHG). This factor, among many others, has informed investments decisions that have led ExxonMobil to become the leading producer of cleaner-burning natural gas in the United States, for example.  Based on this analysis, we are confident that none of our hydrocarbon reserves are now or will become “stranded.”
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UK’s DECC once again mulls risking solar defeat in jaws of victory.

April 29, 2014 Clean Energy 

Solar Power Portal: “The department of energy and climate change (DECC) is set to announce a review into the level of support offered to large-scale solar through the Renewable Obligation scheme, with a number of industry figures bracing themselves for the news.”
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Supreme Court backs coal-plant emission curbs.

April 29, 2014 Climate, Coal 

FT: “The US Supreme Court has cleared the way for environmental regulators to curb soot and smog emissions from coal-fired power stations that cause pollution in neighbouring US states.”
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UK support for renewables remains unwaveringly high in DECC poll.

April 29, 2014 Clean Energy 

Solar Power Portal: “The UK public has shown consistent support for renewable energy in the third of a series of opinion surveys published by the Department for Energy and Climate Change (DECC).”
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FTSE joins Blackrock to offer help investors avoid fossil fuels.

April 28, 2014 Climate, Coal, Finance, Gas, Oil 

FT: “BlackRock, the world’s biggest fund manager, has teamed up with London’s FTSE Group to help investors avoid coal, oil and gas companies without putting their money at risk.”
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“Caspian calamity: Kashagan oilfield risks becoming giant stranded asset.”

April 28, 2014 Gas, Oil 

Mark Lewis of Kepler Cheuvreux (no url): “We published an Alert three weeks ago on the pipeline problems troubling the giant Kashagan oilfield (see our note of 7 April, Caspian Capex Complications: Asset-Stranding Risk Highlighted by Troubles at Kashagan Field), citing a report in Quartz that the super-giant  Kashagan oilfield in the northern Caspian sea “will be out of production for at least two years”. Today the Financial Times has made the same point, saying that “the $50bn Kashagan oil project in Kazakhstan is likely to be delayed by two more years while 200km of pipeline is replaced”. Read more

How will society treat energy incumbency bosses after the crisis?

Jeremy Leggett on Brandpunt, TV2, Netherlands: An 11 minute film about his views on a shale “surprise”, premature peak oil, and climate change. “I think the energy bosses of today should be worrying about society’s ability to look back in anger and hold them accountable, even to the point of incarceration.”

“Fossilised Revenues: $28trn of revenues at risk for fossil-fuel industry.”

April 24, 2014 Clean Energy, Climate, Coal, Finance, Gas, Oil 

Mark Lewis of Kepler Chevreux (no url): “A 450-ppm world would threaten high-cost, high-carbon revenues. Under a global climate deal consistent with a 2°C world, we estimate that the fossil-fuel industry would stand to lose USD28trn (in constant 2012 USD) of gross revenues over the next two decades compared with business as usual.”

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Eight major UK renewable energy projects receive government backing.

April 23, 2014 Clean Energy 

Guardian: “….Five of the schemes are offshore windfarms, which the Conservative party plans to back in its general election manifesto over cheaper but more controversial onshore wind power.”
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US oil stocks at record high.

April 23, 2014 Oil 

FT: “US oil was in focus after official data showed domestic crude stocks at a record high, as surging shale production overwhelmed an increase in refinery output.”
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“Is the U.S. shale boom going bust?”

April 22, 2014 Gas, Oil 

Bloomberg: “….Among drilling critics and the press, contentious talk of a “shale bubble” and the threat of a sudden collapse of America’s oil and gas boom have been percolating for some time. While the most dire of these warnings are probably overstated, a host of geological and economic realities increasingly suggest that the party might not last as long as most Americans think.”
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Apple: climate change is a real, 100% of our data centres are renewable.

April 22, 2014 Change for Good, Clean Energy, Climate 

Guardian: “Climate change is real and a real problem for the world, Apple said on Monday, announcing its progress on environment targets ahead of Earth day.”
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