Keystone XL carbon emissions ‘would be 4x higher than US thought’.

August 11, 2014 Climate, Oil 

AP: “The much-debated Keystone XL pipeline could produce four times more global warming pollution than the State Department calculated earlier this year, a new study concludes.”
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UK government ridiculed for heavily censoring fracking report.

August 11, 2014 Gas 

Geoffrey Lean in the Telegraph: “The Government has just published a report on the likely effects of the drilling on Britain’s countryside communities – including its possible impact on house prices – that is so heavily redacted it might instead be devoted to a military assessment of options for intervention in Iraq.”
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EDF shuts nuclear reactors in northern England due to faults.

August 11, 2014 Nuclear 

Guardian: “Four nuclear reactors at two large power plants in the north of England are to be shut down temporarily, after inspectors discovered a fault with a boiler unit.”
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Oil & gas company debt soars to danger levels to cover shortfalls in cash.

August 11, 2014 Climate, Gas, Oil 

Telegraph: “The world’s leading oil and gas companies are taking on debt and selling assets on an unprecedented scale to cover a shortfall in cash, calling into question the long-term viability of large parts of the industry.”
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UK fracking company wins permission to reinject waste water.

August 10, 2014 Gas, Oil 

Independent on Sunday: “Environmental campaigners fear an oil company’s plan to drill for gas in one of Britain’s national parks is a stalking horse for a future bid to carry out fracking in the area.”
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RBS winds down rogue SME restructuring profit centre.

August 8, 2014 Finance 

FT: “RBS is winding down its controversial Global Restructuring Group, which is being investigated over allegations that it profited from the financial distress of companies it was meant to help.”
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Norway’s oil fund to reveal voting intentions.

August 8, 2014 Change for Good, Finance 

FT: “One of the world’s largest investors will start publicly declaring how it intends to vote at companies’ annual meetings in a move that will ratchet up pressure on boards in Europe and raise the spectre of a sharp rise in shareholder rebellions.”
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Exxon begins drilling in Russian Arctic immune to sanctions.

August 8, 2014 Gas, Oil 

Bloomberg: “Sanctions, what sanctions? ExxonMobil Corp. will start drilling a $700 million well in the Arctic Ocean tomorrow, Russia’s government said, showing that for all the talk of action against Vladimir Putin’s oil industry, the largest U.S. energy company is undeterred.”
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SolarCity, now worth $7bn, prepares to add solar loans to leases.

August 7, 2014 Clean Energy, Finance 

Recharge: “SolarCity is “testing” home solar loan products, says chief executive Lyndon Rive, with such loans expected to soon begin eating into the market share of the lease model upon which SolarCity has thrived.”
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Edelman formally declares it will not accept climate denial campaigns.

August 7, 2014 Climate 

Guardian: “Edelman, America’s biggest public relations firm, has for the first time formally declared it will not take on campaigns that deny global warming, in response to an investigation by the Guardian.”
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China, finding exploration “challenging”, halves its shale gas target.

August 7, 2014 Gas 

Reuters: “China has halved the quantum of shale gas it expects to produce by 2020 after early exploration efforts to unlock the unconventional fuel proved challenging, according to an industry website and a government source.”
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Corporatisation of US green energy: a double-edged sword worth billions.

August 7, 2014 Climate, Finance 

Guardian: “There’s a popular meme that surfaces on green energy blogs, forums, and Facebook pages. The gist is that large corporations love oil and gas because they can own and control it. They’re against renewable energy because no-one can own the sun or wind. The problem for anti-corporate green-energy campaigners is, increasingly: the meme isn’t true.”
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Oil price up as Sunni militants close in on Kurdish territory.

August 7, 2014 Oil 

FT: “The price of Brent crude rose above the $105 mark on Thursday after reports that Islamist militants were creeping closer to the semi-autonomous Kurdish region’s oilfields.”
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“Why Home Depot could soon be in charge of the power industry.”

August 6, 2014 Clean Energy “NRG Energy CDO David Crane wants the private sector to lead the next energy revolution – even though that could put companies like his out of business. NRG Energy is America’s largest solar developer and one of the country’s largest power producers.”
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SunPower offers solar home power package to EV customers.

August 6, 2014 Clean Energy “Buyers of Volkswagen or Audi hybrids will find themselves getting yet another sales pitch as they leave a U.S. dealership next year — to buy a home power network that allows them to charge their new cars using only solar power.”
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Collective energy switching auction in UK saves £232 per household.

August 6, 2014 Clean Energy, Coal, Gas, Nuclear 

Guardian: “Consumers who took part in the most recent council-led collective switching auction to get cheaper gas and electricity bills saved an average of £232 per household, the Local Government Assocation (LGA) has revealed.”
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Big 6 face criminal prosecution if suspected of price fixing.

August 5, 2014 Clean Energy, Coal, Finance, Gas, Nuclear 

FT: “UK regulators will be given powers to prosecute anyone suspected of rigging the energy market, under proposals being put forward by the government.”
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Areva closes its solar business.

August 5, 2014 Clean Energy, Nuclear 

Power Engineering: ‘Shares in Areva closed 20 percent lower on Friday as the French nuclear group posted a first-half loss and announced it was dropping its solar business.”
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The signs of energy system-change are coming think and fast now.

August 5, 2014 Clean Energy, Climate, Coal, Commentaries, Gas, Oil 

Jeremy Leggett in Recharge magazine: “Some mornings these days, I open my laptop, check the energy news and have to pinch myself to make sure that I am not still dreaming, so fast are signs of system change emerging.”
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EIA: Oil & gas cos take on debt, sell assets to boost cash flow.

August 4, 2014 Gas, Oil 

Rigzone: “Oil and gas companies are taking on debt and selling assets to make up for the shortfall between operational cash flow and cash being spent, according to a recent report from the U.S. Energy Information Administration (EIA).”
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