“A grim future if our oil-dependent society refuses to change.”

September 24, 2013 Clean Energy, Climate, Coal, Commentaries, Finance, Gas, Nuclear, Oil 

Kieran Cooke for Climate News Network: “A new book by Jeremy Leggett, The Energy of Nations: Risk blindness and the road to renaissance, predicts a grim future if our oil-dependent society refuses to change.” Read more

Colorado floods ‘completely overwhelm’ search for oil and gas leaks.

September 23, 2013 Climate, Gas, Oil 

Guardian: “Inspectors hunting for oil pipelines and oil drums damaged in Colorado’s epic floods are being “completely overwhelmed” by the sheer scale of destruction, a member of Congress has warned.” Read more

Arctic ice on downward trend, due for ice-free summers in next few decades.

September 20, 2013 Climate 

Guardian: “The Arctic is on course for an ice-free summer within the next few decades, as scientists on Friday declared that sea ice in the region had fallen to one of the lowest annual minimums on record.” Read more

Big business is paying for sceptics to undermine IPCC report: UN.

September 20, 2013 Climate 

Guardian: “Big companies are paying contrarians to undermine the work of climate scientists, according to a top UN official speaking before the release of a landmark review of climate science this weekby international researchers next Friday.” Read more

EPA takes first steps to limit carbon emissions from power plants.

September 20, 2013 Climate, Coal 

Guardian: “President Obama took his first real step to fulfilling his sweeping climate action plan on Friday, proposing the first rules to limit carbon pollutionfrom future coal-fired power plants. The new rules on natural gas and coal plants, announced by the administrator of the Environmental Protection Agency, Gina McCarthy, will for the first time limit the single largest source of carbon pollution: greenhouse gas emissions from power plants.” Read more

JP Morgan fined $920m for “tempest in teapot”, with “more to come”.

September 19, 2013 Finance 

Guardian: “Last spring the City of London was rife with rumours about a trader at the vast JP Morgan investment bank who was making such huge bets on the highly complex – and deeply risky – derivatives markets that he was known as “the London Whale” or “Voldemort”. After racking up losses of $6bn (£3.7bn) from his reckless trading, the London Whale blew another hole in the bank on Thursday – landing the Wall Street firm with one of the largest fines ever levied against a single bank.” Read more

PM Abe to Fukushima disaster workers: Japan’s future depends on you.

September 19, 2013 Nuclear 

Guardian: “Japan’s prime minister, Shinzo Abe, has told workers at the Fukushima Daiichi nuclear power plant that “the future of Japan” depends on their ongoing struggle to contain leaks of highly radioactive water at the site.” Read more

Arctic oil protest by Greenpeace: shots fired and mass arrest by commandos.

September 19, 2013 Oil 

Guardian: “Armed Russian military have stormed a Greenpeace ship protesting against oil exploitation in remote Arctic waters. According to the last communications from the Arctic Sunrise before all contact was cut at around 4.30pm BST, the Russians dropped guards on to the deck of the vessel by rope from a helicopter, rounded up the Greenpeace crew and broke into the wheel house and communications rooms.” Read more

Sceptic groups crank up efforts to discredit forthcoming IPCC report.

September 19, 2013 Climate 

Guardian: “Conservative groups at the forefront of global warming skepticism are doubling down on trying to discredit the next big report by the Intergovernmental Panel on Climate Change (IPCC). In recent weeks, they’ve been cranking out a stream of op-eds, blogs and reports to sow doubt in the public’s mind before the report is published, with no end in sight.” Read more

8 in 10 news articles on climate focus on uncertainty.

September 18, 2013 Climate 

Guardian:  “About eight in 10 stories on climate change and related scientific research contain some discussion of uncertainties and risk, according to a report from Oxford University.” Read more

Mexico hedges oil output at highest price on record.

September 18, 2013 Finance, Oil 

FT: “Mexico has hedged its oil production for the coming year at the highest price on record, in a striking indication of how stubbornly high oil prices continue to allow producing governments to finance growing budgets.” Read more

Most U.S. companies ignoring SEC rule to disclose climate risks.

September 17, 2013 Climate, Finance 

InsideClimateNews: “Almost 75 percent of the nation’s publicly traded companies are ignoring a three-year-old Securities and Exchange Commission requirement that they inform investors of the risks that climate change may pose to their bottom lines, according to a citizen researcher who has compiled what may be the country’s biggest searchable database of climate risk disclosure.” Read more

Obama administration set to block new US coal plants.

September 17, 2013 Climate, Coal, Gas 

FT: “Regulations that would in effect ban the construction of new coal-fired power plants without costly carbon capture equipment are expected to be set out this week by the Environmental Protection Agency, the US regulator. The proposed rules, setting limits to emissions of carbon dioxide that contribute to the threat of global warming, have already revived talk about the Obama administration’s “war on coal”.” Read more

IHS: shale oil resources are vast outside the US – at high oil price.

September 17, 2013 Oil 

FT: “in countries such as Argentina, Russia and Algeria hold larger reserves than the regions at the heart of the US energy boom, and have the potential to make a significant contribution to global crude supplies in the next decade, according to new research.” Read more

Colorado floodwaters cover fracking wells. “No idea” of leakage.

September 17, 2013 Climate, Gas, Oil 

ClimateProgress: “Colorado flooding has not only overwhelmed roads and homes, but also the oil and gas infrastructure stationed in one of the most densely drilled areas in the U.S. Although oil companies have shut down much of their operations in Weld County due to flooding, nearby locals say an unknown amount of chemicals has leaked out and possibly contaminated waters, mixing fracking fluids and oil along with sewage, gasoline, and agriculture pesticides.” Read more

IHS study points to vast shale oilfields outside US. But.

September 17, 2013 Oil 

FT: “Analysis by IHS published on Tuesday morning suggests fields including the Vaca Muerta of Argentine, the Bazhenov shale of Siberia and the Silurian shales of north Africa could produce more than the Bakken shale of North Dakota and the Eagle Ford of Texas.” Read more

US utility agrees solar is now cheaper than gas.

September 16, 2013 Clean Energy, Gas 

REW.com: “Five months ago, one of the country’s ten largest electric utilities told regulators in Minnesota that it needed three new natural gas power plants to handle peak energy demand.  This week, the same company’s Colorado division announced plans to use more solar power because it is cost competitive with gas.” Read more

Warning to pensions firms as fees erode up to a third of pension pots.

September 16, 2013 Finance 

Guardian: “Firms that overcharge for managing pensions on behalf of millions of workers are to have their fees capped under new legal curbs being drawn up by the government.” Read more

US super-rich hit new wealth record five years after financial crisis.

September 16, 2013 Finance 

Guardian: “Five years after the financial crisis, America’s super-rich have recovered all their losses to see their wealth reach an all-time high. According to Forbes magazine the 400 wealthiest Americans are worth a record $2.02 trillion (£1.4tn), up from $1.7tn in 2012, a collective fortune slightly bigger than Russia’s economy.” Read more

Study funded by Big Oil finds Small Leaks from gas production.

September 16, 2013 Climate, Gas 

FT: Leaks from natural gas production in the US are smaller than some previous estimates, a study led by David Allen of the University of Texas concludes. Methan escape is roughly 10 per cent lower than the latest estimate used by the EPA, with a margin of about 9% either way. Read more