Fossil fuel companies found paying lip-service to climate risks.

October 14, 2014 Climate, Gas, Oil 

Carbon Tracker press release: “New research by the Carbon Tracker Initiative (CTI) today reveals that 99% of sampled coal, oil and gas companies recognise climate change poses a risk to their businesses – but perpetuate investor uncertainty with only 7% of companies providing evidence of adequately integrating this risk into corporate project and capital expenditure assessments.”
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Mining companies lobby G20 leaders to back coal as future of energy.

October 14, 2014 Clean Energy, Climate, Coal 

Guardian: “Mining companies are campaigning for the G20 leaders’ meeting to support continued use of coal as a solution to the global “energy poverty” crisis, as Australia resists the inclusion of climate change on the formal agenda.”
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Investors desert Desertec plan for huge solar farms in desert.

October 14, 2014 Clean Energy 

Guardian: “An ambitious project to harness and export solar power generated in Middle East and African deserts has all but folded after the withdrawal of most of the Desertec Industrial Initiative’s shareholders.”
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UK fracking companies can use “any substance” under homes.

October 14, 2014 Gas, Oil 

Guardian: “The UK government plans to allow fracking companies to put “any substance” under people’s homes and property and leave it there, as part of the Infrastructure Bill which will be debated by the House of Lords on Tuesday.”
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IEA cuts oil demand forecast.

October 14, 2014 Oil 

FT: “The price of oil tumbled nearly three dollars a barrel on Tuesday after the west’s energy watchdog cut its forecast for oil demand growth in a sign of the darkening outlook for the global economy.”
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“Falling oil price raises questions on viability of shale”: FT.

October 14, 2014 Gas, Oil 

FT: “Plunging share prices for US oil and gas companies in recent days have highlighted a potentially decisive factor in the looming crude price war: investor confidence.”
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Europe plots to escape high-priced Russian gas.

October 14, 2014 Gas 

FT: “….Scars from Russia’s gas cuts in 2006 and 2009 run deep across eastern Europe and, at first glance, the continent appears to be in danger again this year thanks to a seemingly unshakeable dependence on Gazprom, Moscow’s gas export monopoly.”
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China targets 100 GW PV by 2020 and no more state support.

October 13, 2014 Clean Energy “….let’s jump right in and look at the latest aggressive targets now being finalized by Beijing under its upcoming five-year plan for the sector between 2016 and 2020.”
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Mark Carney: most fossil fuel reserves can’t be burned.

October 13, 2014 Climate, Coal, Finance, Gas, Oil 

Business Green: “The governor of the Bank of England has reiterated his warning that fossil fuel companies cannot burn all of their reserves if the world is to avoid catastrophic climate change, and called for investors to consider the long-term impacts of their decisions.”
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Reuters: “Privately, Saudis tell oil market- get used to lower prices.”

October 13, 2014 Oil 

Reuters (exclusive): “Suadi Arabia is quietly telling the oil market it would be comfortable with much lower oil prices for an extended period, a sharp shift in policy that may be aimed at slowing the expansion of rival producers including those in the U.S. shale patch.”
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EU subsidies: for every € going to solar, 0.67 goes to coal.

October 13, 2014 Clean Energy, Climate, Coal, Finance, Gas, Oil 

EU Press release: “The functioning of energy markets and the size and effect of government interventions has been the subject of debate for years. To date however, a consolidated dataset for government interventions in the power market of the European Union has been missing.”
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Australian government bullies ANU after divestment decision.

October 13, 2014 Climate, Coal, Finance, Gas, Oil 

Guardian: “The government has been accused of bullying the Australian National University, after Joe Hockey criticised it for divesting from a number of fossil fuel companies.”
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Exxon accuses divestment movement of fuelling global poverty.

October 13, 2014 Climate, Finance, Gas, Oil 

National Journal: “Exxon Mobil is wielding its public relations might against the fossil-fuel divestment movement, signaling that climate-change activists have struck a nerve at the world’s biggest publicly traded oil and gas company.”
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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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  • 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.
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