Quote of the Day
“It will save your citizens money and your country energy. There’s a tremendous opportunity to build an infrastructure that literally could be twice as efficient as the ones that were built in the previous century.”
U.S. Energy Secretary Steven Chu in Bloomberg’s “Climate Goals Require $5 Trillion Investment by 2020”
Climate Goals Require $5 Trillion Investment by 2020
Five trillion dollars of investment is needed worldwide by 2020 in renewable power, energy efficiency and cleaner transportation to contain rising global temperatures, the International Energy Agency said.
**RKB — Interesting “by the numbers” snapshot: Ministers from 23 economies accounting for 80 percent of greenhouse gas emissions and 90 percent of global clean energy investment are attending to help devise policies that cut carbon emissions.
IEA: CCS could be “stillborn” without investment boost
The deputy head of the International Energy Agency (IEA) has hailed the UK as the only government currently attempting to cut the high cost of carbon capture and storage (CCS) technologies, amid warnings the emerging technology could prove “stillborn” without an urgent increase in investment.
Governments failing to avert catastrophic climate change, claims IEA
Governments are falling badly behind on low-carbon energy, putting carbon reduction targets out of reach and pushing the world to the brink of catastrophic climate change, the world’s leading independent energy authority will warn on Wednesday.
Global coalition moves on high-potency GHGs
A new international coalition today approved its first initiatives to reduce emissions of highly potent greenhouse gases such as methane, refrigerants and black carbon.
UN launches interest-free loan scheme to expand CDM carbon trading mechanism
The UNFCCC has launched a pioneering interest-free loan scheme to support Clean Development Mechanism (CDM) projects in some of the world’s least developed countries. Under the new scheme, launched at the African Carbon Forum last week in Ethiopia, underdeveloped countries and those with fewer than 10 projects registered under the CDM will be eligible for interest-free loans supported by the UN Framework Convention on Climate Change (UNFCCC), the UN Environment Programme (UNEP) Risoe Centre, and the UN Office for Project Services (UNOPS).
David Cameron downgrading of ‘keynote green speech’ to ‘remarks’ is an utter betrayal
When you are in an omnishambles, stop shambling. Yet prime minister David Cameron has at the last minute downgraded a planned “keynote speech” on the environment, trailed as a “major policy intervention“, to just five minutes of introductory “remarks” (see Thursday morning).
Davey: ‘We should state more strongly the business case for going green’
Energy and Climate Change Secretary Ed Davey has today called on energy ministers from around the world to step up efforts to work with the private sector to make “the business case for going green”.
China becoming solar energy powerhouse
Bush Telegraph’s reporter Greg Muller has spent the past week in China, looking at renewable energy initiatives in the region.Today he’s in the midst of a huge solar power producing valley. It’s called the Himin Solar Valley in Dezhou City, Shandong Province.
On Our Radar: Urban Energy Patterns
New York Times
Two students unveil an interactive Web-based map that allows people to visualize energy use in specific neighborhoods in more than 40 American cities. [urbmet.org]
The Bozzuto Group Commits Headquarters to 100 Percent Wind Power
The Bozzuto Group, a Washington, D.C. area based real estate services organization, today announced that it has committed to matching 100 percent of the electricity used at its corporate headquarters with renewable energy from U.S. wind projects.
Ormat Rises on $61.2 Million Contract for Geothermal Plant
Ormat Technologies Inc. (ORA), a U.S. geothermal energy company, rose the most in two months after receiving a $61.2 million contract to build a power plant in North America.
Report says 40 percent of the public breathes unhealthy air
The Hill’s E2 Wire
More than 40 percent of the public lives in regions with unhealthy levels of air pollution, a new report from the American Lung Association says.
Resistance fierce as oil sands battle shifts to British Columbia
During the past few months, the main front in the fight against development of the Alberta-based oil sands has moved to British Columbia. It’s a situation the western-most province is uncomfortable with and an expansion it’s unmotivated to defend.
Canadian energy companies hit by weak prices
Three large Canadian oil companies pumped out first-quarter earnings o n W ednesday that mostly missed expectations, but investors were cheered by promises of higher output and steps to deal with depressed natural gas markets and prices for heavy oil that lag far behind those for international crude.
COLUMN-CO2 data conflicts overshadow shale oil and gas: Gerard Wynn
More data on the greenhouse gas emissions impact of shale oil and gas is needed to pinpoint their climate impact, something which recalls a controversy over Canadian tar sands where opposing lobby groups were said to have cherry-picked data.
Siemens Cuts Forecast as Charges Bite
Wall Street Journal
Mounting costs at Siemens AG’s energy division have forced the European industrial giant to clip its profit forecast for the year.
Hungary’s MOL Won’t Fund Nabucco Pipeline
Wall Street Journal
Plans for the massive Nabucco pipeline that would lessen European dependence on Russia were dealt a blow Tuesday when Hungarian oil and gas company MOL Nyrt Tuesday announced that it won’t finance the project in 2012.
Cameron Sees Clean Energy Supporting 15,000 Jobs in U.K.
Prime Minister David Cameron today will say renewable energy companies have invested 4.7 billion pounds ($7.6 billion) in the U.K. in the past year, supporting 15,000 jobs as the economy tumbled back into recession.
Germany May Boost $6.6 Billion Wind Loan Program With KfW
Germany may expand a 5 billion euro ($6.6 billion) program by state-owned KfW Group to boost lending to the offshore wind industry, part of an effort to combat delays in connecting turbines to the power grid.
Green Wind Energy to Sell Unit to Danish Buyer, Trustee Says
Green Wind Energy A/S is finalizing the sale of one of its units to a Danish investor in renewables to reduce debt, the law firm acting as trustee for the Copenhagen-based wind company said.
India Fuel Product Consumption Rises 4.9%
Wall Street Journal
India’s consumption of refined fuel products rose 4.9% last fiscal year, at its highest pace since 2007-08, on the back of a growth in vehicle sales and with power shortages boosting diesel demand for running generators.
Japan Recommends Preferential Rates for Renewable Energy
Japan’s proposed incentives for renewable energy will boost solar panel installations and help wean the nation off nuclear power, industry lobby groups and developers said.
Brazil lawmakers set to vote on overhaul of forest law
Activists are warning that a proposed revamp of Brazil’s tough environmental law could roll back historic gains in the fight against Amazon deforestation by opening parts of the rainforest to farming and increasing impunity for violators.
Eletropaulo Plans Brazil Smart-Grid Program to Boost Reliability
Eletropaulo Metropolitana Electricidade de Sao Paulo SA, the Brazilian utility unit of AES Corp. (AES), is planning to install smart meters that will monitor electricity usage for as many as 80,000 customers to improve the reliability of its power grid and curb theft.
Mexico Oil Opening First Time Since 1938 Shows Revival: Energy
For the first time in 74 years, Mexico may allow private investment in its oil and gas, the third-largest reserves in Latin America.
Power Shortage Hurts Chile’s $100 Billion Copper Push
The biggest-ever pipeline of copper projects is under threat as Chile, the world’s top producer, struggles to contain rising opposition to new power plants.