A third of Beijing’s soaring air pollution comes from outside city.

April 16, 2014 Climate, Coal 

Reuters: “Around one-third of the air pollution in China‘s smog-hit capital comes from outside the city, official media reported on Wednesday, citing a pollution watchdog.”
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Religious groups urge Pope to support fossil fuel divestment.

April 16, 2014 Climate, Coal, Finance, Gas, Oil 

Guardian: “Religious groups have urged  Pope Francis to back a campaign to encourage millions of people, organisations and investors to pull their money out of the fossil fuel industry.”
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“Wall Street has gone insane”: Michael Lewis on high-frequency trading.

April 16, 2014 Finance 

Guardian: “Lewis has been on every talk show and financial news panel in the land, arguing with, among others, Bill O’Brien, the president of the Bats Global Markets stock exchange, about whether or not he and his cohorts are ripping off their customers. If the 53-year-old started off angry, opposition to the book (Flash Boys) has sharpened his stance into a moral crusade.” Read more

RWE CEO says company should have invested in renewable sooner.

April 15, 2014 Clean Energy, Climate, Coal, Gas, Nuclear 

REW.com:  ”The story of German power giant RWE AG exemplifies the crisis facing the nation’s utility industry — and those of many countries across Europe — as nuclear power plants get shuttered in the wake of the Fukushima disaster, renewables steal away revenue, and consumers and companies complain about rising power costs that are three times higher than in the U.S.”
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China’s air pollution leading to more erratic climate for US, say scientists.

April 15, 2014 Climate, Coal 

Guardian: “China’s air pollution could be intensifying storms over the Pacific Ocean and altering weather patterns in North America, according to scientists in the US.”
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Wind farms far more popular than fracking, UK poll suggests.

April 14, 2014 Clean Energy, Gas 

FT: “Britons would prefer to live near a wind farm over a “fracking” site by a majority of three to one, according to an opinion poll published on Monday.”
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“EPA drastically underestimates methane released at (shale) drilling sites.”

April 14, 2014 Climate, Gas, Oil 

LA Times: “Drilling operations at several natural gas wells in southwestern Pennsylvania released methane into the atmosphere at rates that were 100 to 1,000 times greater than federal regulators had estimated, new research shows.”
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IMF “sleepwalking into another global economic catastrophe.”

April 13, 2014 Finance 

Philip Inman in the Observer: ”The complacency is palpable. Despite some dire warnings about risky trading and the threat posed by overly indebted banks, the mood last week at the International Monetary Fund’s spring conference was one of calm.”
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Crude oil peaked in 2005, and industry data mask that. On purpose?

April 13, 2014 Gas, Oil 

Kurt Cobb on Resource Insights: “….Here is a key fact that casts doubt on the official reporting: When the industry and the government talk about the price of oil sold on world markets and traded on futures exchanges, they mean one thing. But, when they talk about the total production of oil, they actually mean something quite different–namely, a much broader category that includes all kinds of things that are simply not oil and that could never be sold on the world market as oil.”
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“Averting climate change catastrophe is affordable, says IPCC report.”

April 13, 2014 Clean Energy, Climate, Coal, Finance, Gas, Oil 

Guardian: “Catastrophic climate change can be averted without sacrificing living standards, according to a landmark UN report published on Sunday. It concludes the transformation required to a world of clean energy and the ditching of dirty fossil fuels is eminently affordable.”
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“UN urges huge increase in green energy to avert climate disaster.”

April 13, 2014 Clean Energy, Climate, Coal, Finance, Gas, Nuclear, Oil 

Guardian: “Mitigation of Climate Change, by the UN’s Intergovernmental Panel on Climate Change (IPCC), a panel of 200 scientists, will make it clear that by far the most realistic option for the future is to triple or even quadruple the use of renewable power plants.” Read more

Is the next financial crisis brewing in the asset bubble?

April 13, 2014 Finance 

Larry Elliot in the Guardian: “….a time traveller would see remarkable similarities between the unfolding of the Roman crisis of almost two millennia ago and the 2007-09 crash. The calling in of loans led to a credit crunch. Debtors went to the wall.” Read more

“Capitalism isn’t working” and why wealth disparity is the core reason.

April 12, 2014 Finance 

Will Hutton in the Observer, review of Thomas Picketty’s book Twentyfirst Century Capital”: “At the conference of the Institute of New Economic Thinking in Toronto last week, Thomas Piketty’s book Capital in the Twenty-First Century got at least one mention at every session I attended. You have to go back to the 1970s and Milton Friedman for a single economist to have had such an impact.”
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“American subprime lending is back on the road”: this time it’s cars.

April 11, 2014 Finance 

Gillian Tett in the FT: “A few short years ago, “subprime” was almost an expletive. During the financial crisis, mortgages linked to subprime borrowers – or those with poor credit history – caused devastating losses; so much so that many asset managers declared they would never touch subprime again.”
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Fracking regulations tighten in Ohio as earthquake link is made.

April 11, 2014 Gas 

Guardian: “State geologists in Ohio have for the first time linked earthquakes in a geologic formation deep under the Appalachians to gas drilling, leading the state to issue new permit conditions in certain areas that are among the nation’s strictest.”
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Putin warns EU he may be about to turn off the gas.

April 11, 2014 Gas 

FT: “Vladimir Putin warned that Russia was poised to halt gas supplies to Ukraine – placing European customers in jeopardy – unless immediate action was taken to resolve Kiev’s unpaid bills.”
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A “terrordome” in solar pricing threatens fossil -fuel business models.

April 10, 2014 Clean Energy, Coal, Finance, Gas, Oil 

Business Insider: “It’s now a question of how and where, not if, solar becomes a dominant force in energy markets. AllianceBernstein’s Michael Parker and Flora Chang published a note last week with the following chart showing how rapidly the cost of solar on a real-dollars-per-million-BTU equivalent basis has, in many instances, come to match that of conventional fuels.” Read more

“We need an apartheid-style boycott to save the planet”: Archbishop Tutu.

April 10, 2014 Clean Energy, Climate, Coal, Finance, Gas, Oil 

Desmond Tutu in the Guardian: “Twenty-five years ago people could be excused for not knowing much, or doing much, about climate change. Today we have no excuse. No more can it be dismissed as science fiction; we are already feeling the effects.”
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Idea of US gas exports saving EU from dependency on Russia is “nonsense”.

April 10, 2014 Gas 

FT: “The head of Cheniere Energy, which is due to become the US’s first new natural gas exporter next year, said the ability of US energy to save Europe from its dependence on Russian supplies had been overstated.”
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Nafeez Ahmed reviews Energy of Nations, Part 2: “Could he be right?”

Nafeez Ahmed in the Guardian: “In The Energy of Nations: Risk Blindness and the Road to Renaissance, Dr Jeremy Leggett – a former oil geologist and government adviser on renewable energy – warns of the risk of an imminent global oil crash as early as next year, and no later than 2020. In my first post on Leggett’s new book, I focused on his analysis of our “risk blindness.” But despite his trenchant and uncompromising stance on the potentially catastrophic consequences of business as usual, Leggett is no doomer.”
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