In this edition, exchange news covering Green Exchange Product Migration to Nymex and CME to Hike Natural Gas Margins Tuesday. In leading news, Reuters offers Lawmaker offers new approach to price carbon in U.S. and
California defends use of offsets in CO2 market, while Bloomberg reports a Barclays forecast that UN CO2 Will Drop Below 2 Euros in Perfect Storm.
Quote of the Day:
“My bill would reduce carbon emissions, and it returns all the money to consumers and deficit reduction. Businesses want this kind of predictability, consumers need to be protected, and we need to step up and address our climate and fiscal issues.”
–Democratic Congressman Jim McDermott, a member of the U.S. House’s tax-writing Ways and Means committee, in Reuters’ “Lawmaker offers new approach to price carbon in U.S.”
Green Exchange Product Migration to Nymex: August 27, 2012
As previously announced, all existing Green Exchange products will be delisted from Green Exchange and will be listed under the NYMEX starting Sunday, August 26, 2012 (trade date Monday, August 27).
CME to Hike Natural Gas Margins Tuesday
The CME Group, parent of the Chicago Board of Trade, said on Friday it would raise margins for trading natural gas futures, effective after the close of business Aug. 7.
Lawmaker offers new approach to price carbon in U.S.
Reuters Point Carbon
A Democratic congressman made the latest attempt to set a national price on carbon on Thursday, floating a bill that would force companies to pay for their emissions, while using proceeds to help reduce the budget deficit and offset any price increases for consumers.
California defends use of offsets in CO2 market
California’s air regulator this week defended its decision to allow emitters to use offset credits in the state’s forthcoming emissions trading system, refuting claims made in a lawsuit by two green groups that there is no way to ensure the environmental integrity of those projects.
UN CO2 Will Drop Below 2 Euros in Perfect Storm, Barclays Says
United Nations emission credits would probably drop below 2 euros ($2.45) a metric ton, an all-time low, assuming a simultaneous jump in supply of offsets and auctions of phase-three European permits, said Barclays Plc.
Opinion: Get It Right on Gas
Thomas L. Friedman – The New York Times
WE are in the midst of a natural gas revolution in America that is a potential game changer for the economy, environment and our national security — if we do it right.
Opinion: Climate change is here — and worse than we thought
James Hansen for The Washington Post
When I testified before the Senate in the hot summer of 1988 , I warned of the kind of future that climate change would bring to us and our planet. I painted a grim picture of the consequences of steadily increasing temperatures, driven by mankind’s use of fossil fuels.
**RKB – James E. Hansen directs the NASA Goddard Institute for Space Studies. His point here is not so much about temperature change but the frequency of extremes.
Who Are Your Sources?
The New York Times Green blog
Two years ago I traveled to southern Indiana to write about a House race between an incumbent Democrat, Baron Hill, against a Tea Party-supported Republican, Todd Young.
MIA on Climate Change
This year’s unremitting heat waves, droughts, wildfires, and freak storms have thrust climate change back into the spotlight. But even with the issue fresh in people’s minds—not to mention in media coverage and Washington’s echo chamber—climate change hasn’t made it onto the priority list that matters most: the presidential campaign trail.
Harsh weather doesn’t prove global warming, Republican lawmakers say
The Hill’s E2 Wire
GOP lawmakers say this year’s harsh weather that has produced devastating wildfires and the most widespread drought in 50 years has not changed their minds on climate change.
Recent Heat Waves Caused by Global Warming, Hansen Says
The Texas drought last year, the Russia heat wave in 2010 and other extreme weather “certainly would not have occurred” without global warming, according to a paper prepared by a top U.S. government climate scientist.
Why Drought-Stricken Farmers Will Pay The Price For A Failed Climate Bill
Environmental Working Group/Think Progress.org
Even as extreme drought wreaks havoc on crops and communities across the Midwest, government officials are now confident that they can link recent bouts of extreme weather to man-made climate change.
Poll: Climate concern drops in new Zealand
The number of New Zealanders who say climate change is an urgent problem has fallen in the last four years, mirroring a similar U.S. drop, a poll indicated.
ACCO & White House Council on Environmental Quality
September 24-25, 2012
Carbon Forum North America
October 1-2, 2012
Sustainability Summit – Innovation Challenge
October 9, 2012
EMA 2012 Fall Meeting
**Keynote speaker is Richard Sandor
October 24 – October 26, 2012
Santa Monica, CA
Foes of EU airlines carbon plan say back U.N. scheme
Seventeen countries opposed to an EU law that makes all airlines pay for carbon they emit on flights to and from Europe reaffirmed they want to keep working on an alternative plan at the U.N. global aviation body, a senior U.S. official said.
IATA Welcomes Positive Global Push For Tackling Emissions
Aero News Network
The International Air Transport Association (IATA) said in a statement Thursday it welcomes the positive outcome of the Washington meeting (31 July -1 August) where 17 of the world’s largest aviation powers convened to discuss constructive steps towards a global deal under the International Civil Aviation Organization (ICAO) to address international aviation emissions.
Fact sheet: How much does fracking really affect climate change?
The Christian Science Monitor
When it comes to the fracking debate, too many people on both sides use ‘motivated reasoning’ in their arguments.
Marcellus Shale becoming top US natural gas field
The Wall Street Journal
The Marcellus Shale is about to become the most productive natural gas field in the United States, according to new data from energy industry analysts and the federal government.
Israel Fin Min mulls aid to ailing Israel power utility
Israel’s Finance Ministry said it was considering an aid package to the country’s financially strapped electricity utility, Israel Electric Corp (IEC).
New Obama Web video swipes at Romney over wind energy credit
The Hill’s E2 Wire
President Obama’s campaign released a Web video Friday profiling the owner of a small Michigan wind farming business, arguing the president’s push for alternative energy programs has stimulated job growth.
Lights Out for Aging Power Grid
The Washington Post
They began to bend in the roaring wind, then their steel girders snapped like twigs, the towers toppled and the lights went out.
India’s power disaster offers lesson for the U.S.
The Daily Journal
When power failures in this region last more than a few minutes, we tend to get irritated. When one goes on for days, we are outraged.
Spain May Cut Renewable Power Subsidies Today, Cinco Dias Says
Spain may cut subsidies for renewable energy plants at the weekly cabinet meeting in Madrid today, Cinco Dias said, citing industry rumors.
Senate extends two biofuels tax credits
The Hill’s E2 Wire
The Senate Finance Committee on Thursday voted to extend two biofuels tax credits for “next generation” technology that some Republicans say have not lived up to promises.
Ethanol groups form coalition to save federal support for biofuels
The Hill’s E2 Wire
Eight biofuels groups are forming a coalition to coordinate messaging to combat calls to limit a federal mandate for renewable fuels because of the drought.
Amid a Political Calm, a Tax Break for the Wind Industry Advances
The New York Times
It has been a tough year for companies in alternative energy.
Renewable-energy tax hike can be justified: Gerard Wynn
Developers have made big returns from subsidies on renewable energy projects, raising the question whether new tax increases are justified in a continuing financial crisis or merely state opportunism.
Renewable Chemical Production Tax Credit Will Help U.S. Biotech Companies Create Jobs, BIO Says
Producing renewable chemicals and biobased products using homegrown biotechnology can generate additional employment opportunities across the United States, the Biotechnology Industry Organization (BIO) and its member companies said today. BIO thanked Sen. Debbie Stabenow (D-Mich.) for introducing the Qualifying Renewable Chemical Production Tax Credit Act of 2012, which provides renewable chemical and biobased products access to tax credits that are available to other industries.
Carbon Trust boosts eco-software offering ahead of mandatory reporting rules
The Carbon Trust has inked a partnership with sustainability software developer CRedit360 in a move designed to appeal to the 1,800 listed companies that will soon be required to report annually on their greenhouse gas emissions under new mandatory carbon reporting rules.
Advancing Technology for America’s Transportation Future (Posted Aug. 3, 2012)
Benchmarking Air Emissions Of the 100 Largest Electric Power Producers in the United States (Posted July 31, 2012)
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