ex Barclays boss Diamond escapes court appearance over LIBOR rigging.

April 7, 2014 Finance 

Guardian: “Barclays has settled a £70m Libor court case that will spare its former boss Bob Diamond and other senior colleagues from testifying in a lawsuit that the bank had been vigorously defending.”
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Fears of new gas war as Ukraine refuses to pay Gazprom for price hike.

April 6, 2014 Gas 

Guardian: “The prospect of a new gas war between Russia and Ukraine drew closer at the weekend as the government in Kiev said it would refuse to pay for gas at a new, inflated price set by Gazprom last week. The dispute comes as tensions in eastern Ukraine remain high, with pro-Russian protesters in two cities storming government buildings on Sunday.”
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“Five signs the global economic recovery may be an illusion”: Elliot latest.

April 6, 2014 Finance 

Larry Elliot in the Guardian: “The global economy seemed to be on the mend when the International Monetary Fund met for its spring meeting in Washington 10 years ago.Alan Greenspan had cut official interest rates in the US to 1% after the collapse of the dotcom boom and the world’s biggest economy had responded to the treatment.” Read more

“Prepare now for fossil-free future”: Aberdeen Asset Management in FT.

April 6, 2014 Climate, Coal, Finance, Oil 

Craig MacKenzie in the FT: “….One of the most striking things about the fossil divestment campaign is that it is not content merely to make a moral case, it also claims that divestment makes sense from a financial perspective: to avoid a growing “carbon bubble” that might pop soon.”
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“Britain is paying dearly for neglecting its nuclear waste”: Economist.

April 5, 2014 Nuclear 

Economist: “Swillingaround murky ponds in the oldest part of Sellafield, a nuclear research and reprocessing centre in Cumbria, is a soupy, radioactive sludge. For years boffins working on Britain’s first military and civil nuclear programmes abandoned spent fuel and other nastiness into the pools and tanks, which now grow decrepit.” Read more

Frackers to drill on old munitions site in UK.

April 4, 2014 Coal, Gas, Oil 

Guardian: “A leading fracking firm is to start drilling on the former site of a huge explosive factory, in a decision described as “beyond comprehension” by the local MP.”
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UK Conservative party plans to ban onshore wind farms, maybe dismantle.

April 4, 2014 Clean Energy 

Guardian: “The Conservative party is planning to pledge in its manifesto for next year’s general election that it will introduce a moratorium on future onshore windfarms from 2020 on the grounds that they have now become “self-defeating”.”
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Damning US Coastguard report on Shell Arctic rig grounding.

April 4, 2014 Oil 

Guardian: “Shell has been accused by the US Coast Guard of ignoring safety warnings and moving one of its drill ships in the US Arctic, partly in a bid to avoid paying extra taxes.”
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Record UK air pollution causes spike in 999 ambulance calls.

April 3, 2014 Climate 

Guardian: “Ambulance services are reporting a spike in 999 calls thought to be related to the record levels of air pollution lingering over large parts of Britain as experts warned that conditions would not improve until the weekend.”
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UK government publishes strategy targeting solar rooftop generation.

April 3, 2014 Clean Energy 

Solar Trade Association: “The UK Government has today published the first dedicated Solar Strategy of any EU Government. The Strategy seeks to strengthen the UK’s position in the booming global solar market, which is estimated at a massive ~46GW in 2014 by Deutsche Bank – a 50% increase on total installed global capacity.”
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“No fool like an old fuel”: latest Leggett column in Recharge.

April 3, 2014 Clean Energy, Climate, Coal, Finance, Gas, Oil 
Recharge magazine: “Shell’s 2013 annual report includes an interesting statement about the company’s potential death. “Over time, we expect that a growing share of our CO2 emissions will be subject to regulation and result in increasing our costs,” it reads.”
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How SolarAid’s retail brand sold a million solar lanterns in Africa.

April 3, 2014 Change for Good, Clean Energy 

Business Green: Targeting schools “links perfectly with the social benefits offered by solar lamps, providing affordable and renewable lighting under which school children can complete their homework, and in turn driving up educational standards in communities.”
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Olkiluoto third reactor now the most expensive building in the world.

April 2, 2014 Nuclear 

Hilsinginger sanomat: “Originally a third nuclear reactor at Olkiluoto was supposed to pay about € 3 billion , but the construction of the final price is expected to rise to 8.5 billion . At this price the Olkiluoto is more expensive than any skyscraper or a luxury casino.” Read more

Exxon, dismissing risk of carbon stranded assets, accused of naivety.

April 1, 2014 Climate, Gas, Oil 

Mark Lewis of Kepler Cheuvreux (e-mail circular, no url): “Exxon downplays climate-policy risk to its portfolio saying all its hydro-carbon reserves will be needed.”
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Fossil-fuel subsidies: “perverse and destructive”.

April 1, 2014 Clean Energy, Climate, Coal, Finance, Gas, Oil 
Recharge: “At a time when carbon emissions are destroying the planet and government budgets are under severe pressure, it is perverse that the world’s taxpayers are providing the fossil-fuel industry with almost $2trn of subsidies every year — more than 20 times as much as renewables.”
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The disruptive potential of solar power: “long term implications” for all.

April 1, 2014 Clean Energy 

McKinsey Quarterly: “The economics of solar power are improving. ….Consumption continued rising even as the MAC Global Solar Energy Index fell by 50 percent between 2011 and the end of 2013, a period when dozens of solar companies went bankrupt, shut down, or changed hands at fire-sale prices.”
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IPCC: climate change already having effects in real time, far worse to come.

March 31, 2014 Climate 

Guardian: “A United Nations report raised the threat of climate change to a whole new level on Monday, warning of sweeping consequences to life and livelihood. The report from the UN’s intergovernmental panel on climate change concluded that climate change was already having effects in real time – melting sea ice and thawing permafrost in the Arctic, killing off coral reefs in the oceans, and leading to heat waves, heavy rains and mega-disasters.”
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EPA to assess methane leakage from US gas industry operations.

March 28, 2014 Climate, Gas 

Guardian: “The White House on Friday opened the way to cutting emissions of methane from the oil and gas industry, saying it would study the magnitude of leaks of the powerful greenhouse gas.”
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Biggest coal and PR firms in world pair up to promote coal for the poor.

March 27, 2014 Climate, Coal 

Kate Sheppard for the Huffington Post: “Peabody Energy Corp., the world’s largest private-sector coal company, launched apublic relations and advertising campaign last month extolling the virtues of coal energy for poor people.”
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Ofgem to launch full investigation into Big 6, possibly leading to breakup.

March 27, 2014 Clean Energy, Coal, Gas, Nuclear 

Guardian: “Britain has been warned that it faces an energy investment freeze and a heightened risk of blackouts after the industry watchdog called for the deepest ever investigation into the big six power suppliers.”
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