Playing Chamberlain as next the financial crisis looms.

October 12, 2014 Finance 

Larry Elliot on the Guardian: “….On Monday in Washington, the chancellor of the exchequer will see if Britain is ready for war. A financial war that is.”
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Carney on carbon-bubble risk: “vast majority of reserves are unburnable”.

October 12, 2014 Climate, Coal, Finance, Gas, Oil 

Emerging Markets: “A public call by Bank of England governor Mark Carney that the vast majority of oil reserves should be considered “unburnable” if the world wants to avoid catastrophic climate change makes him stand out among mainstream figures.”
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UK renewables companies consider Hinkley EC legal challenge.

October 12, 2014 Commentaries, Finance, Nuclear 

Guardian: “Independent energy supplier Ecotricity is among companies and organisations considering a legal challenge against the European commission decision to give the approval for the Hinkley Point C nuclear plant.”
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“The price of oil has been tumbling. The cost of finding it has not.”

October 11, 2014 Finance, Gas, Oil 

Economist: “This been a nerve-racking summer for oil companies. Since June the price of a barrel of Brent crude oil—the global benchmark—has slumped from $115 to $92, a decline of 20% and the lowest for more than two years.”
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“Is the shale boom built on a sea of lies?”

October 10, 2014 Gas, Oil 

Tyler Durden on Zero Hedge: “One of, if not the biggest contributors to the improving US trade deficit and thus GDP (not to mention labor market in select states) over the past several years, has been the shale revolution taking place on US soil, which has led to unthinkable: the US is now the biggest producer of oil in the world, surpassing Saudi Arabia and Russia. Which is great today, but what about tomorrow?”
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“Here’s why shale oil stocks are tanking.”

October 10, 2014 Finance, Gas, Oil 

Bob Pisani on CNBC: Why are shale plays getting hit so hard? The short answer is, because oil is dropping. West Texas Intermediate has gone from $105 to $85 in three months. But a large part of the problem has to do with the way shale drilling is financed.”
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Fracking setbacks dim Polish hopes for less Russian gas.

October 10, 2014 Gas 

Bloomberg: “Poland’s ambition to achieve energy independence from Russia is being undermined by drillers giving up on the nation’s shale wells after disappointing results.”
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France to cut nuclear’s share of power market to 50% by 2025.

October 10, 2014 Nuclear 

Platts: “France’s lower house of Parliament voted Friday to cut nuclear’s share of the power generation market to 50% by 2025, from 75%, the AFP Parliamentary newswire reported.”
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Pollution levels hit 20 times safe limit in northern China.

October 10, 2014 Climate, Coal, Oil 

Guardian: “Days of heavy smog shrouding swathes of northern China pushed pollution to more than 20 times safe levels on Friday, despite government promises to tackle environmental blight.”
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Oil sinks to $88, share prices plunge.

October 10, 2014 Finance, Oil 

FT: “Fears about weakening global growth drove oil prices to a four-year low on Friday, at the end of a turbulent week for financial markets that also saw world share prices drop to their lowest in seven months.”
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Gillian Tett, prescient heroine of the MBS bubble, sees no shale bubble.

October 9, 2014 Finance, Gas, Oil 

Gillian Tett on the FT: This winter Jim Ratcliffe, the British billionaire founder of Ineos, the chemicals group, is trying to spark a local shale gas revolution. He has offered to share 6 per cent of future revenues with communities or landowners if they work with Ineos to develop the energy source – far more than anything offered in the UK before.”
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66 out of 73 US shale drillers report higher reserves to public than to SEC.

October 9, 2014 Gas, Oil 

Bloomberg: “Lee Tillman, chief executive officer of Marathon Oil Corp., told investors last month that the company was sitting on the equivalent of 4.3 billion barrels in its U.S. shale acreage.” That number was 5.5 times higher than the one Marathon reported to federal regulators.”
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Japan’s utilities turn on solar, threatening industry’s prospects.

October 9, 2014 Clean Energy, Coal, Gas, Nuclear 

Bloomberg: “After spending almost $30 billion on solar energy in a single year and installing as many panels as exist in the whole of Spain, Japan is preparing to ratchet back its boom in photovoltaic power. At least five of the nation’s utilities are restricting the access of new solar farms to their grids.”
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Lego cans Shell partnership following Greenpeace campaign.

October 9, 2014 Climate, Oil 

Guardian: “Lego will not renew its marketing contract with Shell after coming under sustained pressure from Greenpeace to end a partnership that dates to the 1960s.”
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Drilling rig numbers hit in a new record in the US as oil search spreads.

October 8, 2014 Nuclear, Oil 

Bloomberg: “Rigs targeting oil in the U.S. surged to a record as drillers ventured outside the nation’s biggest basins to search for crude in developing plays such as the South-Central Oklahoma Oil Province, known as SCOOP.”
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“Shale boom tested as sub-$90 oil threatens U.S. drillers.”

October 8, 2014 Finance, Gas, Oil 

Bloomberg: “The U.S. shale boom is producing record amounts of new oil as demand weakens, pushing prices down toward levels that threaten to reduce future drilling.”
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Glasgow becomes first university in Europe to divest from fossil fuels.

October 8, 2014 Climate, Coal, Finance, Gas, Oil 

Guardian: “Glasgow University has become the first academic institution in Europe to divest from the fossil fuel industry, in a turning point for the British arm of the student-led global divestment movement.”
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EU approves Hinkley Point nuclear power station, now >£24bn to build.

October 8, 2014 Nuclear 

Guardian: “The European commission on Wednesday gave Britain the green light for a huge government subsidy that will open the way for the first atomic power stations to be built for nearly 20 years.”
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Record fine sought for EQT fracking impoundment with 200 holes.

October 7, 2014 Gas 

AP: “Pennsylvania environmental regulators are pursuing a record $4.5m fine against a gas driller over what they describe as a major case of pollution from a leaking waste pit.”
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Solar and wind cost may fall to level for coal by 2020s, study says.

October 7, 2014 Clean Energy, Coal, Finance 

Bloomberg:  ”The cost of solar and onshore wind power may fall to the same level as generation from fossil fuels by the 2020s, energy consultant Poyry Oyj (POY1V) said in a report.”
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