In this edition, two op-eds. In the first, the former governor weighs in with Schwarzenegger: California’s silent disaster. And, George Shultz and Gary Becker write in The Wall Street Journal: Why We Support a Revenue-Neutral Carbon Tax. Plus, a Washington Post blog: Fear of global warming on the rise.
Quote of the Day:
“Asia must both contain rising demand and explore cleaner energy options, which will require creativity and resolve, with policymakers having to grapple with politically difficult issues like fuel subsidies and regional energy market integration.”
–Asian Development Bank chief economist Changyong Rhee in The Wall Street Journal’s “ADB: Asia Must Control Energy Demand, Emissions”
California Governor Clears Way for Carbon Market Link to Quebec
California Governor Jerry Brown approved a proposal to link the state’s carbon cap-and-trade system with a program in Quebec, a step that would allow companies to trade carbon permits across borders.
**RKB — Recap: A panel of economics and markets professors recommended in September that the air board delay a link with Quebec until the markets in both California and the province are “found to be well-functioning.” That finding probably can’t occur until at least 2015, the committee said last September.
Schwarzenegger: California’s silent disaster
Los Angeles Times Op-Ed
I will always remember the day I woke to the news that more than 2,000 fires were burning in California. I thought I must not have heard correctly. Two thousand fires? How could that be?
Op-Ed: Why We Support a Revenue-Neutral Carbon Tax
The Wall Street Journal
Americans like to compete on a level playing field. All the players should have an equal opportunity to win based on their competitive merits, not on some artificial imbalance that gives someone or some group a special advantage.
RGGI States Initiate Bidding Process for Auction 20
This page contains the Auction Notice and bidder application materials for the twentieth quarterly RGGI carbon dioxide (CO2) allowance auction, to be held on June 5, 2013. The deadline for submitting the Qualification Application and Intent to Bid for RGGI CO2 Allowance Auction 20 is Wednesday, April 24, 2013.
**RKB – More details here.
ADB: Asia Must Control Energy Demand, Emissions
The Wall Street Journal
Asia’s dependence on Middle Eastern oil will grow sharply over the next two decades, leaving economies in the region increasingly vulnerable to supply shocks while continuing reliance on coal and oil will double its emissions of greenhouse gases, the Asian Development Bank said Tuesday.
China Boosts Wind Power Output 41%, Edges Closer to 2015 Target
China, the world’s biggest wind power market, posted a 41 percent surge in the production of electricity from wind in 2012, bringing the nation a step closer to meet its goal in three years.
Killing Keystone Seen as Risking More Oil Spills by Rail
A rejection of the Keystone XL pipeline by President Barack Obama would push more of Canada’s $73 billion oil exports onto trains, which register almost three times more spills than pipelines.
**RKB — Commentary here is from left-leaning Brookings.
Fear of global warming on the rise
The Washington Post
Americans’ fear of global warming is on the rise, though they still aren’t as concerned as they were before the 2008 financial collapse.
Complimentary EMA Member Webinar
Proposed Changes in the Regional Greenhouse Gas Initiative and the Potential Impacts
Tuesday, April 9, 2013
11:00am – 12:00pm EDT
Moderator: Gary Payne, Dominion
Presenters: James Hough, PSEG; Thad Huetteman, PEAR; Bill Shobe, University of Virginia
Navigating the American Carbon World (NACW) 2013
San Francisco April 16-18
BP-Backed Skyonic Poised for Carbon Capture Funds on Shale Boom
Skyonic Corp., a carbon-capture technology developer with investors including BP Plc (BP/) and ConocoPhillips (COP), is about to obtain about $119 million to fund its first commercial project, at a Texas cement plant.
Air travel to get bumpier as CO2 emissions rise, scientists say
Turbulence on transatlantic flights will become more frequent and severe by 2050 as carbon dioxide emissions rise, leading to longer journey times and increased fuel consumption, British scientists said in a study on Monday.
Natural Gas/Coal/Alternative Fuels
Indonesia Palm Exports Set for Biggest Drop in Two Years
Palm oil shipments from Indonesia probably slumped by the most in two years in March, slowing a decline in inventories at the world’s largest producer, as demand eased from China, the second-biggest buyer.
GE Expands Oil and Gas Business With Lufkin Deal
The Wall Street Journal
General Electric Co. GE +0.83% agreed to buy Lufkin Industries Inc. LUFK +37.59% for about $3.3 billion in cash, further expanding an oil and gas business that GE has built up via a string of acquisitions in recent years.
Italy’s Enel Excludes Latin America from Asset-Sales Plan
The Wall Street Journal
Enel SpA, ENEL.MI +0.54% Europe’s most highly indebted energy utility, is betting on Latin America to help raise its revenues and is looking to increase its presence there, Chief Executive Fulvio Conti said.
Suntech Jumps on Buffett Buyout Report: China Overnight
Chinese solar manufacturers rallied in New York, led by Suntech Power Holdings Co. (STP), on a report that billionaire Warren Buffett may be interested in buying the company forced into bankruptcy after defaulting on debt.
Tepco Says Fukushima Plant May Have Another Toxic Water Leak
A new leak of toxic radioactive water, the third in a week, may have sprung from one of the seven underground storage tanks at Tokyo Electric Power Co. (9501)’s Fukushima plant.
Enbridge, EDF buy 300 MW Alberta wind project
Enbridge Inc and renewable energy development company EDF EN Canada Inc have agreed to buy a 300 megawatt wind project in Alberta from privately held wind power developer Greengate Power Corp.
GE invests in Enel’s Buffalo Dunes wind farm in Kansas
General Electric Co (GE.N) will provide capital and technology for the 250-megawatt (MW) Buffalo Dunes wind farm in Kansas being built by a unit of Italian renewable power company Enel Green Power SpA (EGPW.MI), GE said in a release on Monday.
Brazil electricity crunch a thing of the past -minister
Brazil’s hydroelectric reservoirs are back to adequate levels and power shortages are a thing of the past with supplies comfortably exceeding national demand, Brazilian Mining and Energy Minister Edison Lobao said on Monday.
Fisker Struggles Mark Blow to Obama’s Electric-Car Goal
The possible bankruptcy of Fisker Automotive Inc., which last week fired three-quarters of its workforce, is the latest blow to President Barack Obama’s goal of having 1 million electric vehicles on U.S. roads by 2015.
Wine Production Seen Shifting From Bordeaux to N.Z. on Climate
Areas suitable for viticulture may decline from Bordeaux to Australia as climate change prompts a shift in wine production to higher latitudes and elevations in New Zealand and the Northern Hemisphere, researchers said.
Clearing the Air: Reducing Upstream Greenhouse Gas Emissions from U.S. Natural Gas Systems (Posted April 8, 2013)
World Resources Institute
The State of Green Business 2013 (Posted February 12, 2013)
Can the US Get There from Here? (Posted February 6, 2013)
The Billion Euro Aviation Bonanza – Aviation’s Participation in the EU ETS (Posted January 22, 2013)