The below is a chronological log of events in global energy, climate change and related issues. Key events from this chronicle are distilled in the serialised ebook, The Winning of the Carbon War.
BoE says stranded-asset risks must be reported, Shell abandons Arctic drilling losing $7bn, Pope woos US on climate, China announces cap-and-trade plan during US visit: Week 38, 2015September 29, 2015
BoE Governor tells BBC climate change is the biggest issue for the future. And on stranded assets, Mark Carney says, investors must be given the data to “invest accordingly”.
Carney: proposals will probably be put to the G20 meeting in Turkey in November. They will urge tougher corporate disclosure standards on climate change risks.
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Massive VW emissions fraud, BHP warns coal is losing as Abbott goes, shale drillers face financial crisis, 2015 global heat record, 48 of top global 100 companies still oppose climate action: Week 37, 2015September 20, 2015
85% of British power can be renewable by 2030: Greenpeace. A report expects wind energy to rise from 13GW to 77GW, with solar rising from 5GW to 28GW.
“Carbon storage will be expensive at best. At worst, it may not work”: Economist. The 3 real projects each dump a million tonnes CO2 a year. US electricity alone would need 1,500 sites.
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Hollande warns Paris failure would mean millions of refugees, cheap oil slams brakes on US shale oil production, UK backs bid in EU to kill fracking controls, Shell quits climate leaders group: Week 36, 2015September 13, 2015
“Fast pace of power plant closures threatens UK electricity grid”: FT. Energy experts warn of a “breaking point within months”. Jefferies: 53 GW of capacity 2015-16, 56 GW peak demand.
SolarCity signs world’s first dispatchable PPA in Hawaii. The agreement with Kaua’I Island Utility Cooperative (KIUC) is for 20 yrs, 52MWh, to feed... read more...
“Coal is fast becoming the telegraph to renewable energy’s Internet”, say activists as stock tank hits 98% since 2011. No, says Minerals Council of Australia ad campaign – “coal is amazing”: Week 35, 2015September 6, 2015
Panasonic criticises ‘damaging’ UK cuts to solar panel subsidies. “Do not push the bird out of the nest before it can fly”, says UK boss.
Minerals Council of Australia TV ad labelled “ludicrous” and “desperate”. The ad insists that “coal is amazing.”
The Elders urge world leaders to step... read more...
World’s biggest coal port divests, oil industry woes leave Wall Street adrift, tanking China trigger global share rout, UK government intends to cut solar feed-in tariff 87% in January: Week 34, 2015August 30, 2015
Eni discovers ‘supergiant’ gasfield off Egypt. The Zour field holds a possible 30tn cubic feet of gas, or 5.5bn barrels of oil equivalent (boe), in 1,450 metres of water.
“For OPEC, This Year’s Painful Oil Slump Will Bring Gains in 2016”: Bloomberg. IEA says production will contract outside OPEC, and emand... read more...
Methane leaks far exceed estimates, US oil < $30, Islamic leaders join Pope in calling for carbon-fuel phaseout, solar cheaper than gas in Colorado, UK opens 1,000 sq miles to frackers: Week 33, 2015August 23, 2015
US oil price slides below $30 for first time since financial crisis. Brent falls to $45. The US rig count rises 2%. The industry remains what analysts label “resilient”.
SunEdison beats gas in Colorado. For the first time, PPC receives bids for utility-scale solar PV resources that are cost-effective head to head with natural-gas fired generation.
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Largest ever US wildfire rages, coal protestors say “here and no further”, Glencore’s investors say “stop digging”, oil glut pumps on, solar stocks suffer, Shell ready to drill in the Arctic: Week 32, 2015August 16, 2015
“Glencore’s investors want it to stop digging.” Shares down two-thirds since May 2011 float, debt mountain at $48bn.
Firefighters struggle to contain largest ever US wildfire. Spanning more than a quarter of a billion acres, the Idaho fire has been fed by drought.
1,500 people put their bodies on line to stop the diggers... read more...
Global glacier retreat accelerates, value of oil companies down >$1 trillion, Obama backs off shale gas in climate plan, UK now prepared to over-ride councils and push through fracking: Week 31, 2015August 9, 2015
“Our country needs shale gas, so let’s go get it.” So writes Amber Rudd. “A responsible, long-term energy policy demands a willingness to take decisions today for the good of tomorrow.”
Energy industry attacks £24.5bn Hinkley Point. “We will look back and think that nuclear was a expensive mistake,” RWE npower CEO says. An HSBC report rips into... read more...
Global warming now >1˚C, Obama hikes power-sector carbon cuts, World Bank rejects coal industry notion that coal can cure poverty, US offshore wind puts its first steel in the water: Week 30, 2015August 2, 2015
Obama imposes most far-reaching carbon restrictions on power sector yet. 32% power sector cuts by 2030, encouraging bypass of gas, favouring renewables. Legal pushback expected.
“With coal going begging, it’s time to stop digging.” So writes Michael West in the SMH. The two big projects of Chinese... read more...
Paris climate deal takes shape, France sets example with sweeping energy bill, oil drill ships burn cash parked at sea, UK government reneges on commitments to renewables investors: Week 29, 2015July 26, 2015
Oil groups shelve $200bn in new projects as second oil-price slump hits. Wood Mackenzie reports 46 big oil and gas projects deferred. Only a handful of major projects fully approved.
US companies pledge financial and political support for UN climate deal. 13 announce new low carbon investments, and 1.6GW of new renewables to be brought online.
Hillary... read more...