Despite divestment campaign, SRI investments in oil & gas increase.

June 24, 2014 Change for Good, Climate, Coal, Finance, Gas, Oil 

NASDAQ QMX: “Climate change campaigners have welcomed the recent decision from AMP Capital, a Sydney-based asset manager with US$30bn equity assets under management, to exclude companies with a material exposure to the most intensive fossil fuels from its Responsible Investment Leaders (RIL) fund range.” Read more

Bloomberg, Paulson, Steyer: climate change is a risky business.

June 24, 2014 Climate 

Risky Business, Exec Summary: “The U.S. faces significant and diverse economic risks from climate change. The signature effects of human-induced climate change—rising seas, increased damage from storm surge, more frequent bouts of extreme heat—all have specific, measurable impacts on our nation’s current assets and ongoing economic activity.”
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U.S. ruling loosens four-decade ban on oil exports.

June 24, 2014 Oil 

WSJ: “The Obama administration cleared the way for the first exports of unrefined American oil in nearly four decades, allowing energy companies to start chipping away at the longtime ban on selling U.S. oil abroad.”
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UK and Germany beat solar records as community schemes multiply.

June 24, 2014 Change for Good, Clean Energy 

TreeAlerts (no url): “As EU Sustainable Energy Week begins, the UK and Germany have demonstrated what can be achieved, announcing they have both broken records for generating solar electricity this month.”
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Italian government plans retroactive solar PV tariff cuts.

June 23, 2014 Clean Energy 
Recharge: “Italy’s industry and finance ministries have made public a joint legal decree that foresees cuts to the support of PV plants above a capacity of 200kW, even if already operating.”
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Harley Davidson unveils electric bike prototype.

June 23, 2014 Clean Energy, Climate, Oil 

Fortune: “When you think Harley-Davidson, you probably think about leather, beards, and loud engines. Now, though, you can picture a fully electric bike with a digital display.”
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Global race underway to develop floating offshore wind turbines.

June 23, 2014 Clean Energy 

Guardian: “The Windfloat turbine is one of the frontrunners in a global race to develop flotillas of wind turbines that can conquer the deep oceans and reap the strongest winds on the planet. Existing offshore wind turbines, standing on concrete and steel foundations driven into the ocean floor, flounder on heavy costs in depths greater than about 40 metres.”
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HMG not acting on Royal Society fracking safety recommendations.

June 20, 2014 Gas, Oil 

Michael Hill in The Lancet: “I have some serious concerns with Sari Kovats and colleagues’ Comment (March 1, p 757),1 as I feel it is misleading (albeit unintentionally). Although the UK Government has indeed stated that it accepts the Royal Society and Royal Academy of Engineering Working Group’s recommendations on shale gas extraction,2 the reality is that only one of these recommendations has been implemented in full; one out of ten in 2 years.” Read more

Thousands of fracked wells in Pennsylvania “may be leaking methane”.

June 20, 2014 Climate, Gas, Oil 

Guardian: “A study of abandoned oil and gas wells in Pennsylvania finds that the hundreds of thousands of such wells in the state may be leaking methane, suggesting that abandoned wells across the country could be a bigger source of climate changing greenhouse gases than previously thought.”
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ISIS insurgents 40km from Baghdad, but no oil price spike yet.

June 20, 2014 Oil 

FT: “It is difficult to overstate the importance of Iraq for the global oil industry. It is the world’s seventh largest producer, with proven reserves of 140bn-150bn barrels of crude oil that analysts say are among the cheapest on the planet to develop.”
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Ofgem’s biggest energy investigation could mean breakup for Big 6.

June 20, 2014 Coal, Gas, Nuclear 

Guardian: “The biggest ever investigation into the UK energy market will be unveiled next week by the industry watchdog, Ofgem, amid public anger over high bills and bad service from gas and electricity providers.”
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The potential power of open-source intelligence: ex CIA officer.

June 19, 2014 Change for Good, Finance 

Guardian: “Robert David Steele, former Marine, CIA case officer, and US co-founder of the US Marine Corps intelligence activity, is a man on a mission. But it’s a mission that frightens the US intelligence establishment to its core.”
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Carbon Tracker to Shell: investing in fossil fuels is “a bet on the future”. “The way energy investors react to the financial analysis that describes up to 80% of fossil fuel reserves as “unburnable” will determine whether or not the world successfully tackles climate change, according to a leading green entrepreneur.”
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Nato chief accuses Russia of working with NGOs to discredit fracking.

June 19, 2014 Climate, Gas, Oil 

Guardian: “The head of one of the world’s leading groups of democratic nations has accused Russia of undermining projects using hydraulic fracturing technology in Europe.”
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SolarCity moves from installation-only to domestic solar manufacturing.

June 18, 2014 Clean Energy 
Recharge: “In an announcement that will reverberate across the global PV industry, SolarCity on Tuesday said it will acquire Silevo, a module technology company, and intends to build a “pilot” 1GW module factory in New York State within the next two years.”
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Al Gore argues we are at a turning point of new hope on climate.

June 18, 2014 Clean Energy, Climate, Coal, Gas, Oil 

Al Gore in Rolling Stone magazine: “In the struggle to solve the climate crisis, a powerful, largely unnoticed shift is taking place. The forward journey for human civilization will be difficult and dangerous, but it is now clear that we will ultimately prevail.”
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First steps on the road to a fossil-fuel-free future.

Jeremy Leggett on The Elders website: “Every journey begins with a first step. It suggests that if you can take one, you can take a few more. And maybe even many, many more.
Those of us with a belief system tuned to a bit of science know that the global community has to get rid of most carbon fuel use, maybe all, by 2050, maybe earlier. This will be some journey. Where might we take a first step? Where is there any evidence that we could eliminate an entire category of carbon fuel use?”
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Odds seem to be stacked against the frackers in Germany.

June 17, 2014 Gas 

Guardian: “Germany consumes 90bn cubic metres of natural gas a year, making it the world’s eighth biggest user. Only 12% of its consumption is home-produced – with 37% imported from Russia, a trade that has been increasingly perceived as a problem as the crisis in Ukraine has escalated. The EU energy commissioner, Günther Oettinger, claimed in March that fracking could free Germany from its dependency on Russian imports “for decades to come”.”

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“Energy Crunch” back as front-page headline.

June 17, 2014 Gas, Oil 

CityAM front page headline: “Fears of a disruptive energy price spike grew yesterday as conflict escalated in Iraq and Ukraine’s gas supplies from Russia were abruptly cut off.”
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REN21 report: Renewables added 56% of new generation in 2013.

June 16, 2014 Clean Energy 

REN21: “Renewable electricity capacity achieves new record level, jumps 8.3% in 2013, accounts for more than 56% of net additions to global power capacity;  renewables meet almost one-fifth of world final energy consumption.”
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