Latest US shale failure wipes out almost all Sumitomo’s earnings.

September 29, 2014 Gas, Oil 

FT: “Sumitomo of Japan has drawn a line under its disastrous two-year foray into shale oil in the US, with writedowns connected to the project almost completely erasing its full-year earnings.”
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British firm Ineos accused of ‘bribes and bulldozers’ approach to fracking.

September 29, 2014 Gas, Oil 

Guardian: “One of Britain’s biggest industrial firms has been accused of taking a “bribes and bulldozers” approach to fracking after unveiling a multi-billion pound plan to compensate landowners and local communities affected by its plans to use the controversial drilling technique.”
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Solar power world’s top electricity source by 2050, at 27% of mix: IEA.

September 29, 2014 Clean Energy 

Guardian: “Solar energy could be the top source of electricity by 2050, aided by plummeting costs of the equipment to generate it, a report from the International Energy Agency (IEA), the West’s energy watchdog, said on Monday.”
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Record world debt could trigger new financial crisis, Geneva report warns.

September 29, 2014 Finance 

Guardian: “Global debts have reached a record high despite efforts by governments to reduce public and private borrowing, according to a report that warns the “poisonous combination” of spiralling debts and low growth could trigger another crisis.”
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Rosneft and ExxonMobil find oil with their $700m Arctic well.

September 27, 2014 Oil 

FT: “Russia’s top crude oil producer Rosneft confirmed on Saturday that it has made an oil discovery with ExxonMobil at their controversial joint well in the Arctic.”
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Banks could face record fines totalling £1.8bn over currency rigging.

September 26, 2014 Finance 

Guardian: “Six major banks caught up in the investigation into rigging the currency markets are being pressed by the regulator to agree to fines – possibly of as much as £1.8bn – in the next eight weeks.”
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Fracking trespass law changes move forward despite huge public opposition.

September 26, 2014 Gas, Oil 

Guardian: “Fracking will take place below Britons’ homes without their permission after ministers rejected 40,000 objections to controversial changes to trespass laws.
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Big oil groups blame climate change on coal at UN summit.

September 26, 2014 Climate, Gas, Oil 

FT: “….Khalid A Al-Falih, chief executive of the world’s biggest oil producer, Saudi Aramco, a goliath in a fossil fuel industry that many summit speakers said would eventually need to be wiped out. ….Saudi Aramco, said Mr Al-Falih, was “committed to being a part of the climate solution the world needs”, and he was not alone.”
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The UN climate summit shifts the dial on new green investment.

September 25, 2014 Clean Energy, Climate, Finance 

Green Bonds newsletter (no url): “….Ban Ki Moon’s audacious Summit convening (that’s really the only power we allow him) made for a really useful event: it bought out marchers around the world to ask their governments for action; and it extracted some useful new commitments, such as:”
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“Coal: Before the Flood.”

September 25, 2014 Clean Energy, Climate, Coal 

FT Lex: “….There are holes in the market. China alone has several. The country’s leaders are eager to shift away from energy-intensive investment, towards consumption.”
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“Spooked” coal industry counter attacks divestment campaign.

September 24, 2014 Climate, Coal, Finance 

Australian Financial Review: “Anglo American chief Mark Cutifani is calling on the Australian coal industry to mount a counter-attack against the global divestment effort urging investors to dump holdings in fossil fuels.”
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Times “Fracking ‘greener than solar panels’” story refuted by author quoted.

September 24, 2014 Clean Energy, Gas 

Guardian: “Researchers at Manchester University have found that fracking causes less toxicity to humans and marine ecosystems and uses less resources than solar panels and wind turbines.”
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“How a single multinational corporation could light up the world.”

September 24, 2014 Change for Good, Clean Energy 

Guardian: “Most Americans take turning lights on for granted. But one in five people in the world still can’t plug anything in. The World Bank estimates 1.2 billion people lack electricity all together – resulting in millions of premature deaths yearly – and many more have undependable or unaffordable electricity service.”
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Views differ on efficacy of UN climate summit.

September 24, 2014 Climate 

Michael Jacobs in the Guardian: “So 120 government leaders each made 4 minute speeches about climate change at the United Nations. Did it make any difference? Yes, but not in the ways you might think.”
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“Clean growth is a safe bet in the climate casino.”

September 23, 2014 Clean Energy, Climate, Coal, Finance, Gas, Oil 

Martin Wolf in the FT: “The debate on action over climate change is stuck. Despite copious words and many international conferences, including a UN summit in New York this week, emissions of greenhouse gases continue their upward march. Could this change?”
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SolarAid’s CGI commitment: eradicate kerosene lamp from Africa by 2020.

September 23, 2014 Change for Good, Clean Energy, Climate 

SolarAid press release, no url: “At the 10th Annual Clinton Global Initiative, SolarAid commits to build an alliance to eradicate the kerosene lamp from Africa by 2020.”
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Shale gas part of climate solution UK PM says, not renewables targets.

September 23, 2014 Climate, Gas 

Telegraph: “Shale gas can be part of the solution to tackling climate change and must not be restricted by “green tape”, David Cameron is expected to say on Tuesday at a UN summit on tackling global warming.”
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More than a hundred climate activists arrested on Wall Street.

September 23, 2014 Climate 

Guardian: “More than 100 protesters were arrested after hundreds of people gathered in New York City’s financial district on Monday to denounce what organisers say is Wall Street’s contribution to climate change.”
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Leading companies pledge to transition to 100% renewables.

September 22, 2014 Change for Good, Clean Energy, Climate 

Climate Group: “Leading businesses including, IKEA, Swiss Re, BT, Formula E, H&M, KPN, Mars, Nestlé, Philips, Reed Elesvier, J. Safra Sarasin and Yoox, join a powerful group of NGOs and clean energy experts today to announce the launch of a multi-year initiative to encourage major companies to commit to using 100% renewable power.”
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Google to cut ties with rightwing lobby group over climate change ‘lies’.

September 22, 2014 Climate 

Guardian: “The internet giant Google has announced it is to sever its ties with an influential rightwing lobbying network, the American Legislative Exchange Council, accusing it of “lying” about climate change.”
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