Pollution levels hit 20 times safe limit in northern China.

October 10, 2014 Climate, Coal, Oil 

Guardian: “Days of heavy smog shrouding swathes of northern China pushed pollution to more than 20 times safe levels on Friday, despite government promises to tackle environmental blight.”
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Oil sinks to $88, share prices plunge.

October 10, 2014 Finance, Oil 

FT: “Fears about weakening global growth drove oil prices to a four-year low on Friday, at the end of a turbulent week for financial markets that also saw world share prices drop to their lowest in seven months.”
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Gillian Tett, prescient heroine of the MBS bubble, sees no shale bubble.

October 9, 2014 Finance, Gas, Oil 

Gillian Tett on the FT: This winter Jim Ratcliffe, the British billionaire founder of Ineos, the chemicals group, is trying to spark a local shale gas revolution. He has offered to share 6 per cent of future revenues with communities or landowners if they work with Ineos to develop the energy source – far more than anything offered in the UK before.”
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66 out of 73 US shale drillers report higher reserves to public than to SEC.

October 9, 2014 Gas, Oil 

Bloomberg: “Lee Tillman, chief executive officer of Marathon Oil Corp., told investors last month that the company was sitting on the equivalent of 4.3 billion barrels in its U.S. shale acreage.” That number was 5.5 times higher than the one Marathon reported to federal regulators.”
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Japan’s utilities turn on solar, threatening industry’s prospects.

October 9, 2014 Clean Energy, Coal, Gas, Nuclear 

Bloomberg: “After spending almost $30 billion on solar energy in a single year and installing as many panels as exist in the whole of Spain, Japan is preparing to ratchet back its boom in photovoltaic power. At least five of the nation’s utilities are restricting the access of new solar farms to their grids.”
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Lego cans Shell partnership following Greenpeace campaign.

October 9, 2014 Climate, Oil 

Guardian: “Lego will not renew its marketing contract with Shell after coming under sustained pressure from Greenpeace to end a partnership that dates to the 1960s.”
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Drilling rig numbers hit in a new record in the US as oil search spreads.

October 8, 2014 Nuclear, Oil 

Bloomberg: “Rigs targeting oil in the U.S. surged to a record as drillers ventured outside the nation’s biggest basins to search for crude in developing plays such as the South-Central Oklahoma Oil Province, known as SCOOP.”
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“Shale boom tested as sub-$90 oil threatens U.S. drillers.”

October 8, 2014 Finance, Gas, Oil 

Bloomberg: “The U.S. shale boom is producing record amounts of new oil as demand weakens, pushing prices down toward levels that threaten to reduce future drilling.”
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Glasgow becomes first university in Europe to divest from fossil fuels.

October 8, 2014 Climate, Coal, Finance, Gas, Oil 

Guardian: “Glasgow University has become the first academic institution in Europe to divest from the fossil fuel industry, in a turning point for the British arm of the student-led global divestment movement.”
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EU approves Hinkley Point nuclear power station, now >£24bn to build.

October 8, 2014 Nuclear 

Guardian: “The European commission on Wednesday gave Britain the green light for a huge government subsidy that will open the way for the first atomic power stations to be built for nearly 20 years.”
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Record fine sought for EQT fracking impoundment with 200 holes.

October 7, 2014 Gas 

AP: “Pennsylvania environmental regulators are pursuing a record $4.5m fine against a gas driller over what they describe as a major case of pollution from a leaking waste pit.”
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Solar and wind cost may fall to level for coal by 2020s, study says.

October 7, 2014 Clean Energy, Coal, Finance 

Bloomberg:  ”The cost of solar and onshore wind power may fall to the same level as generation from fossil fuels by the 2020s, energy consultant Poyry Oyj (POY1V) said in a report.”
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Big Australian pension fund offloads coal investments.

October 7, 2014 Climate, Coal, Finance 

FT: “One of Australia’s biggest public sector pension funds is to sell its holdings in coal companies, saying that climate change is an “unarguable scientific reality” and a “very real investment risk”.”
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Biggest companies sit on growing cash pile, but not oil & gas and utilities.

October 6, 2014 Finance 

FT: “The UK’s largest companies by market value are sitting on cash piles of £53.3bn, more than two-fifths higher than the amount of net cash they held last year, according to Capita Asset Services.”
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Austrian lithium projects seeks IPO as drive for EVs grows.

October 5, 2014 Clean Energy 

FT: “….Several deals this year have suggested increased investor interest in lithium, and Tesla’s plans have focused fresh attention on sources of supply.”
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Brent oil retreats to 28-month low.

October 2, 2014 Oil 

FT: “Brent crude hit a 28-month low on Thursday while benchmark US oil dropped below the $90 a barrel mark for the first time since April 2013, pointing to significant stocks on both sides of the Atlantic.”
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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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