Environmentalists’ appeal to foundations on climate: the full case.

October 2, 2014 Clean Energy, Climate, Coal, Commentaries, Finance, Gas, Oil 
Jeremy Leggett in Recharge magazine: “Imagine two armies lining up for a make-or-break battle in a civil war. Envisage a group of financiers, worth hundreds of billions, most of whom want a certain side to win.”
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Cost “blow-outs” raise questions about Australia’s LNG export drive.

October 2, 2014 Gas 

FT: ….“Australia is poised to become the world’s biggest exporter with 84m tonnes of LNG capacity coming into production by about 2018,” says Rod Duke, head of LNG at Santos, an Australian energy company.”
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Renewables spending on the increase after two years of decline – except EU.

October 2, 2014 Clean Energy, Finance 

Bloomberg: “About $175 billion was spent globally on renewable energy projects during the first three quarters, up 16 percent from the same period last year, with Chinese solar investment at a record, according to a Bloomberg New Energy Finance report.”
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The US shale production surge: oil prices still likely to stay high.

October 1, 2014 Change for Good 

Stephen Kopits on Princeton Energy Advisors: “Oil prices certainly have been weak.  How should we think about the matter? Shale oil has been and continues to be the star of the global oil supply.”
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Big Six energy giants ‘will lose a quarter of their customers’ by 2020.

October 1, 2014 Clean Energy, Coal, Finance, Gas, Nuclear 

Telegraph:  ”The Big Six energy suppliers will lose a quarter of their customers by 2020 as millions of households switch to cheaper rivals, leading analysts have forecast. The least competitive of the major suppliers are likely to quit the market altogether in a radical shake-up of the energy sector, according to analysts at Citigroup.”
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First commercial-scale CCS plant finally operational – & dependent on oil.

October 1, 2014 Climate, Coal, Oil 

Guardian: ”Canada has switched on the first large-scale coal-fired power plant fitted with a technology that proponents say enables the burning of fossil fuels without tipping the world into a climate catastrophe.”
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How shills for the oil & gas industry bully people to invest in fracking.

October 1, 2014 Finance, Gas, Oil 

An e-mail received. “This is the last time I’m going to write you about this. I’ve made numerous offers already, and this will be the final one Quite frankly, only a fool would sit on the sidelines on a bull market this big. ….Do you hate money?
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Solar market poised for growth in India with solar champion as PM.

September 30, 2014 Clean Energy 

Guardian: “From the observation tower in the Thar desert and as far as the eye can see, the dark blue arrays of a million solar panels can be seen sitting silently on the red dust. The Charanka solar park in Gujarat is an “ultra-mega” power project – the Indian government’s phrase – and the biggest in Asia.”
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Exxon releases report on fracking impacts, under shareholder pressure.

September 30, 2014 Finance, Gas, Oil 

NYT: “Exxon Mobil issued a report Tuesday that acknowledges the environmental risks of hydraulic fracturing but also defends the practice as being better for the environment than other types of energy production and generation.”
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UBS: Divestment will catalyse “significant, structural” change in energy.

September 30, 2014 Clean Energy, Climate, Coal, Finance, Gas, Oil 

UBS Global Research (no url, paper for clients): “Following on a series of recent meetings with our clients, we highlight the fossil fuel disinvestment campaign as potentially effective movement, defined as one that will act as a catalyst for change.”
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Renewable energy curb by Japanese utilities could force a nuclear restart.

September 29, 2014 Clean Energy, Nuclear 

FT: “Two Japanese utilities, responsible for about a fifth of the nation’s power, say they have had their fill of renewable energy, in a move that could add pressure on community leaders to allow idled nuclear reactors back on line.”
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Rising Marcellus shale output disrupts US gas prices.

September 29, 2014 Gas, Oil 

FT: “….The new direction for the Rockies Express shows how pipeline companies are scrambling to keep up with breakthroughs in shale gas drilling. Unlike shale oil, which is booming in North Dakota and Texas, the strongest shale gas growth is in northeastern states.”
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US soon to be no. 1 liquid petroleum producer (but still 3rd in crude).

September 29, 2014 Gas, Oil 

FT: “The US is overtaking Saudi Arabia to become the world’s largest producer of liquid petroleum, in a sign of how its booming oil production has reshaped the energy sector.”
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UK government suppresses data on the size of growing green industries.

September 29, 2014 Clean Energy 

Guardian: “….You might think that burying good news, on the other hand, was bonkers. Yet that is exactly what the George Osborne has done with the UK’s booming green economy, exemplified once again in his speech to the Conservative Party conference on Monday. But not content with just putting the green economy in the shade, I can reveal that the coalition has even decided to stop collecting its statistics on the fast-growing sector.”
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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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