In today’s edition: Rolling Stone leads off with a politics meets environment piece called, “Global Warming’s Terrifying New Math.” Reuters has, “UN sees future for carbon scheme despite price drop.” From the nat gas space, The Wall Street Journal reports “Ousted CEO Says Duke Wanted to End Deal.”
Quote of the Day:
“I don’t see the current low prices as affecting the longevity of the CDM. The CDM is a mature mechanism that has proved its worth. One could easily predict an expanding role for the CDM as a provider of quality offsets to the several emerging emissions trading systems in various parts of the world.”
–Maosheng Duan, the executive board chairman of the CDM, said in an emailed statement, covered in Reuters’ “UN sees future for carbon scheme despite price drop”
Global Warming’s Terrifying New Math
If the pictures of those towering wildfires in Colorado haven’t convinced you, or the size of your AC bill this summer, here are some hard numbers about climate change: June broke or tied 3,215 high-temperature records across the United States. That followed the warmest May on record for the Northern Hemisphere – the 327th consecutive month in which the temperature of the entire globe exceeded the 20th-century average, the odds of which occurring by simple chance were 3.7 x 10-99, a number considerably larger than the number of stars in the universe.
**RKB — Hot weather not forceful enough, this beefy beat ‘em-with-science piece leads with the Colorado fires and eventually gets to “aborting” Kentucky corn kernels and broken arctic ice. Loaded with quotes from global leaders to bankers to lab rats, its number-crunching wake-up call is effective so go ahead and invest the time. You’ll sound geek-chic at parties.
UN sees future for carbon scheme despite price drop
The United Nations’ carbon offset market has a long future in helping the world curb man-made greenhouse gas emissions, even with carbon prices at record lows, the executive chairman of the U.N. Clean Development Mechanism (CDM) said on Thursday.
Carbon prices plunge yet again amid backloading delay rumours
Analysts have warned carbon prices in the EU emissions trading scheme (EU ETS) could plunge to new depths of below 6 euro (4.70 sterling) a tonne if uncertainty around the commission’s plans to solve a glut of permits in the market continues.
Greenhouse Projects Watch as EU Polluters Profit: Lobby
Developers of United Nations- sanctioned emission-reduction projects say they are “bitter” as polluting factories in Europe may be making more money buying their credits than they can by selling them.
Market ‘naïve’ to expect timely EU ETS fix details – analysts
Carbon traders have been overly optimistic in expecting detailed proposals from the European Commission on how to deal with the oversupply of EU allowances (EUAs), according to analysts.
How to Fix America’s Fuel Future
Everyone across the political spectrum talks about the need to wean the US from foreign oil. But when it comes to the details-how to actually make America more energy independent-the political posturing begins.
In North Dakota, the gritty side of an oil boom
Donny Nelson is the epitome of old-time North Dakota. A lean, sharp-featured man sporting a thick goatee, jeans and dirty boots, Nelson is the grandson of homesteaders. Over the past century his family has collected 8,000 acres of prime cattle-grazing acreage and cropland.
California Dreaming? Selling Congress on Low-Carbon Fuel
Researchers hope to sway Congress on expanding the California-based standard, though it remains untested at home.
Why do ‘experts’ always lowball clean-energy projections?
Last month, Michael Noble of Fresh Energy put up a fascinating list of projections made by energy experts around 2000 or so. (I got there via Brad Plumer.) Suffice to say, the projections did not fare well. They were badly wrong, and all in the same direction — they underestimated the growth of renewable energy.
Carbon Forum North America
October 1-2, 2012
Sustainability Summit – Innovation Challenge
October 9, 2012
Sweden to buy CERs from Uruguayan wind project
The Swedish energy agency (Sea) will purchase 600,000 certified emission reduction (CER) units from a wind farm in southeastern Uruguay, at an undisclosed price.
A Way to Trap Carbon Deep in the Ocean
The New York Times
After an eight-year analysis, an international team of scientists has announced a breakthrough in the understanding of how algae and iron interact to sequester atmospheric carbon.
Worldwide Commodity Partners Limited – another carbon credit boiler room?
Worldwide Commodity Partners Limited is a London-based commodity trading firm that is currently focussing on the carbon markets. Its website explains that “With carbon offsetting emerging as a rapidly growing market, an opportunity was clear.”
Czech coal miner eyeing CEZ’s power plant-paper
Privately-owned Sokolovska Uhelna mining company could buy CEZ’s coal-burning power plant Tisova to which it supplies coal as a way to end a dispute over coal prices, Sokolovska owner Frantisek Stepanek was quoted as saying on Thursday.
Sen. Merkley, citing climate fears, wants big study of coal export plans
The Hill’s E2 Wire
Sen. Jeff Merkley (D-Ore.) is pressuring the Obama administration to conduct a sweeping environmental review of proposals for coal export facilities in Washington and Oregon.
Ousted CEO Says Duke Wanted to End Deal
The Wall Street Journal
Bill Johnson, ousted as chief executive of Duke Energy Corp. DUK +0.08% just hours after it completed its $26 billion merger with Progress Energy Inc., told state regulators Thursday that Duke had long been trying to scuttle the deal.
Siemens Wins $3.56 Billion Deal for Turbines Off U.K.
Siemens AG (SIE) won an agreement to supply 300 offshore wind turbines to Denmark’s state-owned utility Dong Energy A/S in a deal that industry analysts said may be worth as much as 2.9 billion euros ($3.56 billion).
EBRD Agrees $85 Million Loan for Mongolia’s First Wind Farm
The European Bank for Reconstruction and Development and the Netherlands Development Finance Company agreed an $85 million loan for Mongolia’s first wind farm.
Solar Industry M&A Constrained by Lack of Funding, REC CEO Says
Mergers and acquisitions in the solar energy industry are being constrained by a lack of funding, according to Renewable Energy Corp. ASA’s Chief Executive Officer, Ole Enger.
U.S. Solar Tax Credit Pays for Itself With 10% Return
A 30 percent U.S. federal tax credit for owners of solar-power systems pays for itself when electricity from those systems is sold, creating taxable revenue, a trade group said.
UK police close ‘Climategate’ investigation
British police have closed their three-year investigation into the theft of hundreds of climate science emails published to the Web, saying Wednesday there was no hope of finding any suspects behind the breach.
Per capita CO2 emissions in China reached European level (July 18, 2012)
The Interim Regulation of Voluntary Greenhouse Gases Emission Trading in China (Posted July 10, 2012)
The Climate Group
Measure for Management: C40 Cities (July 9, 2012)
Carbon Disclosure Project
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)
Tackling exposure: placing disaster risk management at the heart of national economic and fiscal policy (Posted May 22, 2012)
Fossil fuel price shocks and a low carbon economy (Posted May 21, 2012)
Using the Allowance Value from California’s Carbon Trading System: Legal Risk Factors, Impacts to Ratepayers and the Economy (Posted May 17, 2012)
Inclusive Green Growth: The Pathways to Sustainable Development (Posted May 9, 2012)
Meeting Canada’s 2020 Climate Change Commitments (Posted May 8, 2012)
Office of Auditor General