ExxonMobil agrees to report to investors on carbon asset-stranding risk.

March 20, 2014

NYT: “Energy companies have been under increasing pressure from shareholder activists in recent years to warn investors of the risks that stricter limits on carbon emissions would place on their business. On Thursday, a shareholder group said that it had won its biggest prize yet, when Exxon Mobil became the first oil and gas producer to agree to publish that information by the end of the month.”
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After investing more than $8 bn in renewables, BP retreats.

March 20, 2014

Bloomberg: “BP Plc, recovering from an oil spill that may cost it as much as $42 billion, said it hasn’t set a new target for investing in renewable energy after investing $8.3 billion in the business.”
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EDF failed to disclose flooding risk caused Dungeness shutdown.

March 19, 2014

Guardian: “EDF has failed to be open and transparent by shutting down its Dungeness plant in Kent for two months without properly informing people, environmentalists have said.”
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China cuts time for researchers to develop thorium reactor to 10 years.

March 19, 2014

Guardian: “….In an effort to reduce the number of coal-fired plants, the Chinese government has brought forward by 15 years the deadline to develop a nuclear power plant using the radioactive element thorium instead of uranium.”
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California drought brings wildfires “outside any normal bounds”.

March 19, 2014

Guardian: “California is facing wildfires ”outside of any normal bounds” as a historic drought turns drying brush and trees into a perfect tinderbox, officials have warned.”
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How does an aging workforce build an electric power plant? Er, I forget.

March 18, 2014

Mass-marketing e-mail: “Participants at this 2nd Utility Aging Workforce Conference will become familiar with the utility and energy industries challenges and trends concerning the aging workforce, effective knowledge transfer, and retirement impacts. Over one-half (50%) of utility workers will be eligible to retire in the next 6-8 years.” Read more

$1.75bn Toyota bond: a new horizon for green bonds?

March 17, 2014

Climate Bonds: “‘Wow! Toyota will this week issue a huge $1.75bn, investment grade, multi-tranche green bond, backed bond by electric+hybrid auto loans. It was going to be only $750m but demand was very strong. A new horizon opens?”
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Paris bans half its cars from the streets for a day to fight air pollution.

March 17, 2014

Guardian: “The French government has halted a controversial scheme to ban half of the traffic from Paris streets after a single day, claiming that the experiment aimed at curbing harmful pollution had been successful and that the vast majority of Parisians had co-operated.”
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NASA-funded study: Is industrial civilisation set for irreversible collapse?

March 14, 2014

Guardian: “A new study sponsored by Nasa’s Goddard Space Flight Center has highlighted the prospect that global industrial civilisation could collapse in coming decades due to unsustainable resource exploitation and increasingly unequal wealth distribution.”
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“The Oil and Gas Weapon Won’t Work”: Davis & Leggett on Ukraine.

March 13, 2014

Lt. Col. Daniel Davis & Jeremy Leggett in The National Interest: “After many weeks of political chaos and bloodshed in Kiev, Moscow sent soldiers across the frontier into the Crimea on February 27, claiming it aimed to protect the Russian-speaking population.” Read more

Norway’s state pension fund to be given a renewables mandate.

March 13, 2014

WWF: “Today it was announced that the government of Norway would mandate the country’s sovereign wealth fund, the largest in the world, to invest in renewable energy, Prime Minister Erna Solberg said in Oslo this morning.”
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“The energy transition tipping point is here, and there is no going back.”

March 12, 2014

Chris Nelder on SmartPlanet: “I have waited a long time—decades, really—for a tipping point in the energy transition from fossil fuels to renewables beyond which there can be no turning back. Fresh evidence pertaining to many themes I have explored in this column over the past three years suggests that tipping point is finally here.”
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100% renewable energy ambassadors appeal on Fukushima anniversary

March 11, 2014

World Wind Energy Association: “Three years after the Fukushima/Daiichi nuclear disaster, the Global100RE Ambassadors are highlighting the need to refrain from using hazardous nuclear and fossil energy sources and instead shift towards 100% renewable energy.”
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Chevron cuts production growth target in face of rising costs.

March 11, 2014

FT: “Chevron, the US oil group, has raised sharply its expectation of future oil prices and cut its target for production growth, as it highlighted the steep rise in costs in the industry.”
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Was 2013 the year of peak global fossil-fuel capex?

March 10, 2014

CarbonTracker.org: “Following on from our focus on 2012 capital expenditure (CAPEX) in our 2013 Unburnable Carbon analysis, we have reviewed the data from 2013. This reveals some interesting trends.”
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“Armchair warriors wage phoney war”: US gas exports can’t help Ukraine.

March 10, 2014

Derek Brower in Petroleum Economist: “From London to Washington politicians and commentators have arrived at a solution to their Putin problem. Russia is weak, their argument claims, because it depends on oil and gas revenue. Unleash American energy on the world and watch the Kremlin crumble.”
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“Are US LNG export terminals the next expensive flop in energy?”

March 10, 2014

FT Lex column: “….Members of Congress are clamouring for faster approval of permits for terminals so US natural gas can reach across the globe. Yet the first US facility, built by Cheniere Energy, will not come online until 2015, having cost $10bn.”
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Shareholder pressure on corporations builds on climate.

March 9, 2014

Investor Center: “….The Proxy Preview for 2014 came out this week, providing a forecast of all the shareholder resolutions that could go to a vote in this busy season of annual meetings. Climate change has taken center stage.
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“Dozens” of new ozone-destroying chemicals found in atmosphere.

March 9, 2014

Guardian: “Dozens of mysterious ozone-destroying chemicals may be undermining the recovery of the giant ozone hole over Antarctica, researchers have revealed.”
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Kashagan operators face huge fine for sour gas leak.

March 7, 2014

FT: “The government of Kazakhstan will seek $737m in damages from the consortium of international companies developing the Kashagan Caspian Sea oilfield, in the latest blow to the $50bn megaproject.”
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  • The Winning of The Carbon War

    Humanity is in a race, a kind of civil war. Believers in a safe future fuelled by endless sunlight and related forms of clean energy combat defenders of finite carbon fuels careless of the impact they have on the world by clinging to coal, oil, and gas. Jeremy Leggett fought for the light side for a quarter of a century as it lost battle after battle to the dark side. Then, in 2013, the tide began to turn. By 2015, it was clear the light side could win the war. Leggett’s diary from the front lines tells one person’s story of those turnaround years, and what they can mean for the world.
  • The book in a minute

  • On doing without fossil fuels

    Fossil-fuel companies like to tell people they are being naive to think they can live without them. These young ladies from the UK Youth Climate Coalition seem to have a different view.
  • Introducing The Energy Of Nations

    Download chapter one, read the reviews and find out how to order here.