Business is the focus of today’s edition, as the Silicon Valley plays its part in the fight against climate change: Telsa’s CEO Elon Musk announced that he will let other companies use Telsa’s technology for free. A way to boost clean tech, he hopes, and a pretty big (contrarian) deal. Also today, news and explanations on the upcoming vote on Keystone.
Quote of the day
”Tesla will not initiate patent lawsuits against anyone who, in good faith, wants to use our technology.”
Elon Musk, CEO of Telsa, in the Bloomberg Businessweek’s story Why Elon Musk Just Opened Tesla’s Patents to His Biggest Rivals
Keystone XL vote coming soon
Laura Barron-Lopez and Timothy Cama, The Hill
Made you look: There will be a vote on the controversial Keystone XL pipeline next week, but not the one you think. The Senate Energy and Natural Resources Committee will vote on legislation that would approve the pipeline, not the entire chamber.
***LB: Also in this story “The pro-Keystone bill will likely easily pass out of committee, but getting it to the Senate floor is a whole other ballpark.”
Canada pushes for Keystone pipe approval
Ed Crooks, Financial Times
Canada is in talks with the US on renewable energy and other plans to curb greenhouse gas emissions in an effort by Ottawa to secure White House approval for the Keystone XL oil pipeline.
Why Elon Musk Just Opened Tesla’s Patents to His Biggest Rivals
Ashlee Vance, Bloomberg Businessweek
Annoyed, frustrated and exasperated, Elon Musk has decided to give Tesla Motors’ patents away.
How Obama’s Climate Goals Will Play in Silicon Valley
Claire Cain Miller, (The Upshot) The New York Times
If the United States is going to achieve President Obama’s new climate change goals, an X factor is how Silicon Valley will respond. Success will depend, many analysts think, on whether the policy will spur entrepreneurs to come up with new technologies and create a clean energy economy.
Ukraine suggests compromise gas price in row with Russia
Pavel Polityuk, Reuters
Ukraine said on Friday it was ready to pay a compromise price for Russian natural gas for 18 months to avert the threat of Moscow cutting off supplies and allow time to reach a long-term pricing agreement.
Russia says no plans on Ukraine gas talks before June 16 deadline
Russia’s Energy Ministry said on Friday Moscow had no plans to discuss a gas pricing dispute with Ukraine before a June 16 deadline expires for Kiev to pay off some of its gas debts.
EU: 11 countries breach of air pollution limits in 2012
France, Germany and Ireland were among 11 member states to exceed air pollution limits in 2012, the European Environment Agency (EEA) has confirmed.
EU Leaders to Set 2030 Carbon Principles, Delbeke Says
Ewa Krukowska, Bloomberg
European Union heads of state will seek to agree on general principles on 2030 climate and energy policies at their summit in October, according to Jos Delbeke, director general for climate at the European Commission.
***LB: Also in this story “The commission proposed the 28-nation bloc deepen its emission-reduction target to 40 percent by 2030 compared with the current goal of cutting greenhouse gases by 20 percent by 2020 from 1990 levels.”
France deliberates after Siemens changes tack in Alstom bid
Michael Stothard, Financial Times
French president François Hollande met senior ministers on Thursday to consider the last-minute change of tack from Siemens in its expected bid for national industrial champion Alstom.
GE Won’t Seek Partner to Counter Siemens-MHI Alstom Plan
Brian Leonal and Alex Webb, Bloomberg
General Electric Co., locked in a tussle with Siemens AG to acquire Alstom SA’s energy business, won’t seek a partner to counter the German company’s planned joint bid with Mitsubishi Heavy Industries Ltd.
***LB: Also in this story “The U.S. manufacturer is confident its $17 billion bid for the French company’s power assets will prove successful, GE Vice Chairman John Rice said at a conference in Singapore.”
Pacific presidents speak out against Australia’s stand on climate change
Australia Network News
Pacific leaders have criticised Australia’s moves to form a conservative international climate change alliance, saying it will only isolate Australia further in the Pacific.
UK chief scientist calls for urgent debate on climate change mitigation
Ian Sample,The Guardian
Britain’s chief scientist has called for researchers to speak out about the risks and benefits of strategies for tackling climate change before national policies are set by the government.
In 2016, Republicans Will Have Fracking on Their Side
Clare Foran, National Journal
The road to the White House could be paved with oil and gas for a trio of Republican presidential hopefuls. Texas Gov. Rick Perry, Sen. Ted Cruz, and Louisiana Gov. Bobby Jindal all come from states where fracking has created new jobs in the oil and gas industry.
What Texas Could Do to Follow Climate Change Rules
Neena Satija and Jim Malewitz, The Texas Tribune
To comply with the Obama administration’s recent proposal to combat climate change, Texas must slash carbon emissions from its power plants by as much as 195 billion pounds in the next 18 years — a total more than any other state — according to a Texas Tribune analysis.
Climate negotiations yet to begin in earnest in Bonn
Frank McDonald, The Irish Times
Hard negotiations on the shape and content of an international treaty to tackle global warming have yet to get under way after eight days of talks in Bonn, despite what everyone describes as a “constructive” atmosphere at the latest United Nations conference.
Environmental Bonds 2014
Now in its 4th year, Environmental Finance’s Environmental Bonds conference will examine the challenges facing the environmental bond market as it matures and the opportunities available for investors, issuers, bankers, corporates and others.
23 June 2014
EMA’s 18th Annual Meeting
Join the Environmental Markets Association and environmental industry professional for two days of dynamic sessions, two nights of networking receptions, and countless opportunities to increase your business contacts.
October 22 – 24, 2014
Santa Monica, CA
FT European Gas Summit
The FT European Gas Summit brings together leading and aspiring gas suppliers from around the globe, as well as energy industry experts, commentators and government decision makers to review the potential barriers to new gas supplies for Europe, and the impact on the region’s economic competitiveness. The summit will be chaired by Guy Chazan, Energy Editor, Financial Times.
23 October 2014
Beijing emitters ignore carbon scheme, question govt authority -media
Stian Reklev and Kathen Chen, Reuters
More than a quarter of all companies covered by Beijing’s municipal carbon laws ignored a key reporting deadline, local media reported Friday, with some powerful companies questioning the local government trading body’s authority to regulate them.
Clean energy trends that Australia chooses to ignore
Giles Parkinson, REnew Economy
Earlier this week, the satirical website The Shovel had this amusing headline: Abbott commits to cutting Australia’s reputation by 30 per cent by 2015. It could well be Abbott’s most ambitious climate goal yet, and he’s probably already achieved it.
EPA’s McCarthy: Efficiency is key to power plant carbon rules
Timothy Cama, The Hill
The biggest reductions in carbon dioxide emissions and financial benefits from the Environmental Protection Agency’s latest rules for power plants will come from encouraging energy efficiency, Administrator Gina McCarthy said.
California issues 2.2 million offset credits for carbon market
California on Wednesday issued 2.2 million carbon offset credits, the majority of which were for a forest protection effort, the largest single project registered for the cap-and-trade program.
Next big idea in forest conservation? Making sure REDD+ works
Liz Kimbrough, mongabay.com
A scientist at the Center for International Forestry Research (CIFOR) in Brazil, Dr. Amy Duchelle coordinates research on the effectiveness, efficiency, equity, and co-benefits of REDD+ initiatives at the sub-national level in Latin America as part of CIFOR’s Global Comparative Study on REDD+.
Ford Lowers Gas Mileage on 6 Models, All 2013-14s
Danielle Ivory, The New York Times
For the second time in less than a year, the Ford Motor Company is lowering the fuel-economy ratings for some of its vehicles.
Natural Gas / Coal
Baupost Buys Stake in LNG Developer Looking at More Projects
James Paton, Bloomberg Businessweek
Baupost Group LLC, the hedge-fund firm run by Seth Klarman, bought a stake in Liquefied Natural Gas Ltd. as the Australian company studies further projects to follow its proposed $3.5 billion U.S. venture.
Apollo Global in discussions to buy Alberta oil assets from Encana – WSJ
Private equity firm Apollo Global Management LLC is in talks to buy Encana Corp’s Bighorn Properties in Alberta, Canada in a deal expected to be worth about $1.8 billion, the Wall Street Journal reported.
***LB: Also in this story “After years of weak prices for the fuel, Encana is selling off natural gas properties and adding more valuable oil and natural-gas liquids production to boost earnings.”
Ming Yang to Install 6-Megawatt Offshore Turbine in Norway
China Ming Yang Wind Power Group Ltd. (MY:US) plans to install a 6-megawatt wind turbine off the coast of Karmoy Island in Norway.
Portugal to sell remaining stake in power grid firm REN
Portugal’s government will sell its remaining 11 percent stake in power grid operator REN at 2.68 euros a share, it said on Friday.
UglyGorilla Hack of U.S. Utility Exposes Cyberwar Threat
Michael Riley and Jordan Robertson, Bloomberg Businessweek
Somewhere in China, a man typed his user name, “ghost,” and password, “hijack,” and proceeded to rifle the computers of a utility in the Northeastern U.S.
Sierra Club targets 21 reps. for inaction on wind tax break
Timothy Cama, The Hill
The Sierra Club is launching an advertising campaign to criticize 21 House Republicans who have not taken a position on renewing the wind energy production tax credit.
Report: Dryers waste $4B a year in energy costs
Wendy Koch, USA TODAY
U.S. consumers are wasting $4 billion annually to power clothes dryers that, unlike other common household appliances, have barely improved their energy efficiency since the 1970s, a report today says.
Britain Braces For World War II-style Energy Rationing
Michael Bastasch, The Daily Caller
Great Britain is in the midst of an energy crisis. The country’s climate agenda has curtailed electricity production and now there may not be enough power to continually keep the lights on in the UK.
Report: Irish green energy infrastructure market to hit 2.5bn euros by 2020
Ireland’s clean energy market is poised for rapid growth through to the end of the decade, as investment in the country’s renewables supply chain continues to increase.
UK smart meter rollout gathers pace
James Murray, BusinessGreen
Just days after MPs warned that delays to the UK’s national rollout of smart meters would make it harder to maximise the economic benefits associated with the technology, new figures have confirmed the deployment of smart meters is gathering pace.
Water woes force big brewers to tighten the tap
Emily Schmall, Associated Press
Some of the largest brewers in the U.S. are trying to reduce their water-to-beer ratio as drought and wildfire threaten the watersheds where they draw billions of gallons every year.
***LB: Also in this story “MillerCoors released a sustainability report Wednesday that shows it has cut its water use by 9.2 percent from 2012.”
Global Warming to Triple Frequency of Drought, Floods Along Indian Ocean
Andrew Freedman, Mashable
The frequency of extreme forms of a climate cycle that can cause devastating droughts and flood events from Indonesia to India to Kenya, may triple in the coming decades, according to a new study published Wednesday.
Nasa readies satellite to measure atmospheric CO2
Nasa is preparing a July 1 launch for its first satellite dedicated to measuring atmospheric levels of carbon dioxide, a greenhouse gas that plays a key role in climate change.