In this edition: Bloomberg covers: “EU Must Avoid Short-Term CO2-Supply Fix, BusinessEurope Says;” CNN’s “Could Cheap Gas Save the Economy?” is one of several stories on current prices. The Wall Street Journal, meanwhile, offers “New Delhi Raises Power Tariffs.”
Quote of the Day:
“We are all losing our shirts today. We’re making no money. It’s all in the red.”
Exxon Mobil’s Rex Tillerson said in a talk before the Council on Foreign Relations in New York covered in the WSJ’s “Exxon: ‘Losing Our Shirts’ on Natural Gas”
EU Must Avoid Short-Term CO2-Supply Fix, BusinessEurope Says
The European Union should start a debate about 2030 carbon-reduction targets and avoid short-term tools to curb the supply of permits in its cap-and-trade system, said BusinessEurope, a Brussels-based employers’ federation.
Major firms urge removal 1.4 bln EU carbon permits
Major companies including Royal Dutch Shell, Statoil and commodities giant Bunge have written to top EU officials calling for the urgent withdrawal of 1.4 billion carbon permits to support the market and green investment.
ICAO Carbon-Cut Plan Will Mask Emissions Output: Engineer
A metric proposed as part of the International Civil Aviation Organization’s plan to curb greenhouse gases in the airline industry will mask the actual emissions of aircraft, according to an aeronautical engineer.
New agriculture offset protocol expands opportunities for farmers to participate in the carbon market
CAR Press Release
The Climate Action Reserve, North America’s premier carbon offset registry, adopted its Nitrogen Management Project Protocol today. The protocol provides opportunities for farmers to generate carbon offsets by implementing agricultural management practices that reduce the application of synthetic nitrogen fertilizer to corn crops in the Midwestern United States.
Could cheap gas save the economy?
Something is badly needed to get the economy moving again and avoid another slowdown.The good news is that cheaper gas could be the answer. America has hit the energy jackpot with new techniques to extract oil and gas from shale.
**RKB – This piece by: Martin Neil Baily, a senior fellow in Economic Studies at the Brookings Institution and was the Chairman of the Council of Economic Advisers under President Clinton. Philip K. Verleger Jr., an economist who has studied energy for 40 years, President of PKVerleger LLC, and a visiting fellow at the Peterson Institute for International Economics.
Exxon: ‘Losing Our Shirts’ on Natural Gas
The Wall Street Journal
Even energy titan Exxon Mobil Corp. is showing signs of strain from low natural-gas prices.
INSIGHT-As Congress looks away, US tiptoes toward exporting a gas bounty
In a bitterly divided U.S. political environment, there’s at least one thing Republicans and Democrats can agree on: Avoid a public showdown on natural gas exports, arguably the most important energy policy decision in recent memory.
Water Footprint of Electricity Highest for Hydro, Report Says
For every gallon of water used in an average U.S. household, five times more water is used to provide that home with electricity via hydropower turbines and fossil- fuel plants, River Network said today in a report.
Private equity wary of German green energy shift
Any German politicians hoping private equity investors will cough up some of the billions needed to finance the shift to green energy should probably think again, if comments at an industry conference on Wednesday are anything to go by.
U.S., Europe and Japan Escalate Rare-Earth Dispute With China
The New York Times
The European Union, the United States and Japan ramped up their dispute with China over its restrictions on exports of rare earths Wednesday after failing to resolve the case through negotiations at the World Trade Organization.
How accountants can save the world — maybe
Will accountants save the world? That was one of the most provocative questions to come out of the Rio+20 conference on sustainable development last week.
Responsible Business Summit
June 27 -28, 2012, New York
Carbon Forum North America
October 1-2, 2012
Sustainability Summit – Innovation Challenge
October 9, 2012
Germany Set to Try Out Carbon Capture and Storage
Germany’s parliamentary mediation committee on Wednesday approved a compromise that would allow carbon capture and storage (CCS) in Germany on a test basis, Environment Minister Peter Altmaier said.
Valero Digs Deep into Green Technology
Port Arthur (Texas) News
By the beginning of next year, the Port Arthur Valero Refinery will be using the largest carbon capture and storage or CCS project in the world, making it a pioneer for environmental and engineering development.
TransCanada Moves Forward on Gulf Coast Pipeline Project
The Wall Street Journal
TransCanada Corp. TRP +1.90% has won federal approval to build the southernmost section of the massive pipeline it plans to bring crude oil from Oklahoma to the Gulf Coast, the company said Wednesday.
India Panel Recommends Changes in Diesel Subsidy System
The Wall Street Journal
A top-level Indian government panel has recommended an overhaul of the nation’s diesel subsidy system, which could partially free up the price of the fuel and address a major worry about India’s economic future.
Suncor eyes Chinese help for oil sands project-CEO
Suncor Energy is seeking partnership with Chinese companies to help build its oil sands projects as Canada’s top oil producer and refiner struggles with ballooning cost inflation, its top executive said on Wednesday.
COLUMN-Biofuels caught in price squeeze: Gerard Wynn
Rising crop costs are squeezing biofuel margins and may see production fall or stagnate in the United States for the first time since 1996, adding to challenges in Brazil and Europe.
Pacific Hydro Plans 500 Megawatts of Wind for Brazilian Industry
Pacific Hydro Pty., the Australia renewable-energy developer, plans to build 500 megawatts of wind farms in Brazil to meet growing industrial demand for energy.
Santander, Prudential Close $444 Million Wind Financing
Units of Banco Santander SA (SAN), Spain’s biggest bank, and Prudential Financial Inc. (PRU) closed a $444 million funding for a 200 megawatt Invenergy LLC wind farm being built in Illinois.The financing will support the development of the California Ridge wind farm which is under construction northwest of Danville, Illinois, Santander’s Boston-based unit Sovereign Bank N.A. said today in a statement.
New Delhi Raises Power Tariffs
The Wall Street Journal
New Delhi’s electricity regulator has approved higher electricity tariffs in the country’s capital, by an average of 20.8%, starting July 1 to help them narrow losses.
How the smart grid clamps down on climate change
While reactions from last week’s Rio+20 range from disappointment at the lack of national governmental consensus to optimism at the range and success of local governmental and corporate actions, none of this alters the fact that climate change is a slow-moving disaster that is going to change our economies and lifestyles.
Renewable Electricity Futures Study (Posted June 20, 2012)
National Renewable Energy Laboratory
Public Views on Climate Policy Options: Spring 2012 NSAPOCC Findings (Posted June 18, 2012)
Energy Technology Perspectives 2012 (Posted June 11, 2012)
Strengthening the European Union Emissions Trading Scheme and Raising Climate Ambition
WWF/Greenpeace/Oko Institut (Posted June 11, 2012)
Characterizing Pivotal Sources of Methane Emissions from Unconventional Natural Gas Production (Posted June 4, 2012)
Vulnerability of US and European electricity supply to climate change (Posted June 4, 2012)
Nature Climate Change
Developing Dimension: State of the Voluntary Carbon Markets 2012 (Posted May 31, 2012)