Global capital expenditure by cash-rich companies still stalling.

June 30, 2014 Finance, Gas, Oil 

FT: “An expected pick-up in global investment spending by cash-rich companies has failed to materialise so far this year. Although companies continue to have historically high levels of gross cash at $4.5tn for the top 2,000 capex spenders in 2013, spending is likely to decline 0.5 per cent this year in real terms, according to Standard & Poor’s forecasts based on first-half data.”
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New York towns can prohibit fracking, state appeals court rules.

June 30, 2014 Climate, Gas, Oil 

Guardian: “Opponents of hydraulic fracturing celebrated a major victory over the oil and gas industry on Monday after the highest court in New York state agreed that cities and towns can prohibit drilling within their boundaries.”
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“Sectarian genie is out of the bottle from Syria to Iraq.”

June 30, 2014 Gas, Oil 

Reuters: “As jihadists storm through the Sunni heartlands of Iraq towards Baghdad, where a Shi’ite government they regard as heretic clings on, they have lifted the veil on deep sectarianism which has also stoked the fires of Syria’s civil war and is spilling over into vulnerable mosaic societies such as Lebanon.”
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UK electricity capacity market to add average £2 to UK bills.

June 29, 2014 Clean Energy, Coal, Gas, Nuclear 

FT: “A British government scheme to reward energy companies for keeping power plants available for back-up electricity generation will put £2 on the average annual household fuel bill, according to the minister in charge of the measure.”
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Solar and wind leaving “a trail of blood” on German utility balance sheets.

June 27, 2014 Clean Energy, Coal 

Bloomberg: “Germany is headed for its biggest electricity glut since 2011 as new coal-fired plants start and generation of wind and solar energy increases, weighing on power prices that have already dropped for three years.”
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German parliament votes in revisions of clean-energy law.

June 27, 2014 Clean Energy, Climate “German lawmakers backed an extensive revision of the country’s EEG clean-energy law to curb subsidies and slow gains in power prices that are the second-costliest in the European Union.”
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Coal boss calls carbon restrictions – and Obama – “evil”.

June 27, 2014 Climate, Coal 

Climate Progress: “In a Fox News interview with Neil Cavuto on Thursday, Robert Murray explained how he believes regulations on carbon emissions are a deliberate effort by President Obama to seize power and harm the United States.”
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NY Attorney Gen. lawsuit accuses Barclays of “systemic fraud and deceit”.

June 26, 2014 Finance 

Guardian: “Damning allegations that Barclays cheated and defrauded its customers pushed shares in the besieged bank to their lowest levels in 18 months on Thursday and set back attempts by its boss Antony Jenkins to turn around its troubled reputation.”
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Renewables generated nearly 20% of UK electricity in first quarter.

June 26, 2014 Clean Energy, Gas 

Guardian: “One fifth of all electricity was generated in Britain by windfarms or other green technologies in the first three months of the year, according to new statistics released by the Department of Energy and Climate change (DECC).”
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Berlin accuses Brussels of trying to scupper the Energiewende.

June 26, 2014 Clean Energy 

FT: “Brussels and Berlin traded barbs on Thursday amid a bitter row over EU competition rules allegedly scuppering reforms to Germany’s prized renewable energy programme.”
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Solarcity joins the crowdfunding megatrend.

June 26, 2014 Clean Energy, Finance 

Recharge: “SolarCity has not entirely ruled out the yieldco model, but for the foreseeable future will focus on funding its development through tax equity, securitization and – newly – crowdfunding, says chief executive Lyndon Rive.”
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British Medical Association votes for fossil-fuel divestment.

June 26, 2014 Climate, Coal, Gas, Oil 

Ecologist: “Britain’s doctors have voted for their representative body, the British Medical Association, to divest from fossil fuels, adding valuable momentum to the fast growing global divestment campaign.”
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Solar researchers discover route to non-toxic thin-film manufacturing.

June 26, 2014 Clean Energy, Commentaries 

Independent: “….Researchers believe they have found a way of overcoming one of the most serious limitations of the next generation of solar panels, which are based on toxic cadmium chloride, by simply adding magnesium chloride, an abundant salt found in seawater.”
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Obama pours scorn on Republican climate denial.

June 26, 2014 Climate 

Guardian: “Barack Obama has turned up the political heat on climate deniers, making fun of Republicans in Congress for catering to “a bunch of fringe elements”.” Read more

Carbon-fuel divestment movement spreads to medical profession.

June 25, 2014 Clean Energy, Climate, Coal, Finance, Gas, Oil 

TreeAlert (no url): “The British Medical Association (BMA) has today voted to end its investments in fossil fuels, becoming the first health-focused institution in the world to do so.” Read more

Finance is the biggest tool in the US solar race, SolarCity shows.

June 25, 2014 Clean Energy, Finance 

Gigaom: “….now SunPower is facing a more unusual challenge in the dramatically growing solar market in the U.S.: an aggressive startup that, until recently, had little in the way of solar cell manufacturing chops.”
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Statoil to investors: climate fix possible with returns on oil for decades.

June 25, 2014 Climate, Finance, Gas, Oil 

Letter to FT: Sir, In “A climate fix would ruin investors” (June 18), Martin Wolf addressed the potential impact of effective climate policies on the value of fossil energy companies. The key issue was to what extent current coal, oil and gas reserves will be burnable, and therefore valuable, to investors if future climate policies limit carbon emissions.”
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“We can expect big energy companies go bankrupt.”

Jeremy Leggett interview shot by PWC-sponsored film unit for the St Petersburg International Economic Forum May 22 -24 2014 and subsequently canned by the hosts, who reportedly did not like what was said. Posted on You-Tube 24 June.

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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