UK renewables companies consider Hinkley EC legal challenge.

October 12, 2014

Guardian: “Independent energy supplier Ecotricity is among companies and organisations considering a legal challenge against the European commission decision to give the approval for the Hinkley Point C nuclear plant.”
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“The price of oil has been tumbling. The cost of finding it has not.”

October 11, 2014

Economist: “This been a nerve-racking summer for oil companies. Since June the price of a barrel of Brent crude oil—the global benchmark—has slumped from $115 to $92, a decline of 20% and the lowest for more than two years.”
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“Is the shale boom built on a sea of lies?”

October 10, 2014

Tyler Durden on Zero Hedge: “One of, if not the biggest contributors to the improving US trade deficit and thus GDP (not to mention labor market in select states) over the past several years, has been the shale revolution taking place on US soil, which has led to unthinkable: the US is now the biggest producer of oil in the world, surpassing Saudi Arabia and Russia. Which is great today, but what about tomorrow?”
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“Here’s why shale oil stocks are tanking.”

October 10, 2014

Bob Pisani on CNBC: Why are shale plays getting hit so hard? The short answer is, because oil is dropping. West Texas Intermediate has gone from $105 to $85 in three months. But a large part of the problem has to do with the way shale drilling is financed.”
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Fracking setbacks dim Polish hopes for less Russian gas.

October 10, 2014

Bloomberg: “Poland’s ambition to achieve energy independence from Russia is being undermined by drillers giving up on the nation’s shale wells after disappointing results.”
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France to cut nuclear’s share of power market to 50% by 2025.

October 10, 2014

Platts: “France’s lower house of Parliament voted Friday to cut nuclear’s share of the power generation market to 50% by 2025, from 75%, the AFP Parliamentary newswire reported.”
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Pollution levels hit 20 times safe limit in northern China.

October 10, 2014

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

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

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

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

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

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

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

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

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

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

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

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

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

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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  • The Winning of The Carbon War

    Humanity is in a race, a kind of civil war. Believers in a safe future fuelled by endless sunlight and related forms of clean energy combat defenders of finite carbon fuels careless of the impact they have on the world by clinging to coal, oil, and gas. Jeremy Leggett fought for the light side for a quarter of a century as it lost battle after battle to the dark side. Then, in 2013, the tide began to turn. By 2015, it was clear the light side could win the war. Leggett’s diary from the front lines tells one person’s story of those turnaround years, and what they can mean for the world.
  • The book in a minute

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    Fossil-fuel companies like to tell people they are being naive to think they can live without them. These young ladies from the UK Youth Climate Coalition seem to have a different view.
  • Introducing The Energy Of Nations

    Download chapter one, read the reviews and find out how to order here.