Quote of the Day

“Ninety per cent of these jackasses that are complaining about the Keystone pipeline in Washington, D.C., one year ago wouldn’t have even known where the Keystone was. While we were doing the heavy lifting here in Montana and in South Dakota and in Kansas and Oklahoma in Washington, D.C. all these great defenders had never heard of Keystone before.”

Montana Governor Brian Schweitzer (D) in The Globe and Mail’s “Montana governor assails Washington politicians over Keystone XL delay”

Lead Stories

EU to Consider Limits to UN Excess Emission Rights, Draft Shows

Bloomberg
European Union countries will next month discuss restrictions on United Nations emissions permits after 2012 that may include limits on sales and the use of revenue from excess rights, according to a draft EU document.
http://jlne.ws/zfqz4N
**RKB — Analysis cites increased likelihood limits to be passed in crunch vote next week.

EU airline retreat would cut 2 euros from EUA price: SocGen
Point Carbon
Excluding airlines from the EU Emissions Trading Scheme would cause prices to fall by up to 2 euros as it would remove the second biggest buyers of CO2 permits from the market, analysts at SocGen said Friday.
http://jlne.ws/yzsVVP

World Bank Resumed Carbon Credit Sales After Fund Missed Higher Prices
Bloomberg
The World Bank, acting as trustee for the United Nations Adaptation Fund, resumed sales of UN emission credits at the start of this month after the fund missed higher prices at the end of last year.
http://jlne.ws/xKTVpx

World Bank calls for global effort to save our oceans

The Age
THE head of the World Bank has warned oceans are being hurt by overfishing, pollution and climate change and called on the Australian government to join a $US1.5 billion ($1.4 billion) “save our seas” plan to improve fish stocks and boost the global economy.
http://jlne.ws/x2OCjo
**RKB — See World Bank President Robert Zoellick’s speech here: http://jlne.ws/wsgS1u

Businesses urged to dive into World Bank’s $1.5bn Global Partnership for Oceans

Business Green
The World Bank has today called on the business community to support an ambitious new global initiative designed to improve marine protection and tackle dwindling fish stocks.
http://jlne.ws/xRvzbt**Also from this piece: “World Bank estimates showed that 350 million jobs worldwide are directly connected to marine environments through fishing, aquaculture and tourism”.

Oil price rise complicates G20 agenda
The Globe and Mail
The sharp rise in oil prices to almost $110 (U.S.) a barrel is presenting a fresh challenge for global economic leaders as they struggle to bridge differences over resolving the European debt crisis.
http://jlne.ws/ybwUPX

Exclusive: Green Investment Bank should borrow from the start, says Lord Stern

Business Green
Leading climate change economist Lord Stern has urged the chancellor to accelerate a decision on how soon the planned Green Investment Bank will be able to borrow in a bid to boost investment in the emerging low-carbon economy.
http://jlne.ws/wBOwGp

Lawmakers urge White House to drop EPA carbon rule
Reuters
Lawmakers in the Republican-led House of Representatives urged the White House on Thursday to drop consideration of a rule that would cut emissions of greenhouse gases from new power plants, saying it would harm the economy.
http://jlne.ws/wCBWHa

Montana governor assails Washington politicians over Keystone XL delay

The Globe and Mail
Montana’s governor says the Keystone XL pipeline from Alberta’s oil sands to the Gulf Coast will eventually be built and he blames the delay on “jackasses” in Washington who have only recently discovered the issue.
http://jlne.ws/w5BrDr

Montana’s Democratic governor slams ‘jackasses’ in DC for Keystone delay
The Hill’s E2 Wire
Montana Gov. Brian Schweitzer (D) is expressing frustration with the debate in Washington over the Keystone XL pipeline, which he strongly supports.
http://jlne.ws/yMD9f2

Wind Experts Gather to Discuss Costs for the Wind Industry
Press Release
Wind Energy Update reports the energy around the continuation of new Wind Farm projects was recently backed U.S. President Barak Obama who urged Congress to pass clean energy legislation with an extension of the Production Tax Credit (PTC).
http://jlne.ws/wEfeVv

The Latest Green Energy Solution: Slime

The Atlantic
The more scientists tinker around in muddy ponds, filthy mines and, yes, laboratories, the more methods for producing clean energy they discover. The latest comes from a team at Newcastle University who found and isolated 75 different bacterial strains that had fallen from the atmosphere into the West Estuary of County Durham.
http://jlne.ws/AckWFj

Brazil to Invest $35.4 Billion in Sugar-Cane Fields for Fuel
Bloomberg
Brazil’s government plans to boost investment in sugar-cane plantations by 60.5 billion reais ($35.4 billion) during the next four years to ensure an adequate supply of crops for the nation’s ethanol industry.
http://jlne.ws/xqPF2E
**Sweet! – Repeats in Latin America

Lego owners plough $530m into offshore wind turbines

Business Green
The parent company of toy firm Lego has announced it is to buy a 32 per cent stake in one of Germany’s largest offshore wind farms, in a move designed to bolster the firm’s green credentials.
http://jlne.ws/A9YumW**JK – My boys will be so proud. Can’t wait for the Lego City Wind Farm set.

US

Gas Prices Annoy Consumers but Don’t Dim Outlook Yet
Wall Street Journal
Rising gas prices are fueling consumer anger and election-year politics, but so far they have done little to damp optimism about the U.S. economic outlook.
http://jlne.ws/AtErbF

Obama Presses Energy Strategy
Wall Street Journal
Gripping the politics of gasoline prices, both President Barack Obama and Republican Sen. Kay Bailey Hutchison used their weekly addresses to argue their points on energy production.
http://jlne.ws/AtDdVr

Obama: No magic bullet to lower gas prices
AP
President Barack Obama says there is no easy answer to the problem of rising energy prices, dismissing Republican plans to address the problem as little more than gimmicks.
http://jlne.ws/ztriUD

Obama Says Rising Pump Prices Reminder of Why U.S. Must Go Beyond Drilling

Bloomberg
President Barack Obama said rising gasoline prices are a “painful reminder” of why the U.S. must develop alternative energy sources, and he criticized Republicans who he said were offering slogans rather than strategy.
http://jlne.ws/zmEepk

Seven things to watch for in the political debate over rising gas prices

The Hill’s E2 Wire
Rising gas prices have brought another season of political gamesmanship between Republicans and Democrats in Washington.
http://jlne.ws/zElkfp

Canada revs up for fight over second tar sands oil pipeline
Los Angeles Times
The prime minister is talking about being “held hostage” by U.S. interests. Radio ads blare, “Stand up to this foreign bully.” A Twitter account tells of a “secret plan to target Canada: exposed!”
http://jlne.ws/zrdUYY
**repeats in Canada

El Paso to Sell Production Business for $7.15 Billion

The Wall Street Journal
El Paso Corp. said it will sell its oil-and-gas exploration-and-production unit for approximately $7.15 billion to a group led by private-equity firm Apollo Global Management LLC.
http://jlne.ws/zKy8f6

Canada

Drilling for the next takeover target
The Globe and Mail
If you want to know what’s going on in the energy-services sector, you have to make the acquaintance of Terry Freeman.
http://jlne.ws/AC39CB

Canada revs up for fight over second tar sands oil pipeline
Los Angeles Times
The prime minister is talking about being “held hostage” by U.S. interests. Radio ads blare, “Stand up to this foreign bully.” A Twitter account tells of a “secret plan to target Canada: exposed!”
http://jlne.ws/zrdUYY
**repeats in US

Why Canada needn’t fear the EU’s oilsands politics

Ottawa Citizen
As the parliament of the European Union was getting ready to vote earlier this week on how the EU would treat oil from Canada’s oilsands, many Canadians were on tenterhooks. Would Europe blacken Canada’s eye by adopting the Fuel Quality Directive, declaring our oil to be “highly polluting”?
http://jlne.ws/wfuIrX

**repeats in Europe

Oilsands study was rush job: critic

Postmedia News
The lead author of a Royal Society of Canada report about oilsands development in Alberta has agreed to review the 2010 study following criticism it was plagued with errors and overlooked environmental and health impacts of the industry’s operations.
http://jlne.ws/z5yUSp


Europe

Austria to double Kyoto permit purchases: draft
Point Carbon
The Austrian government has tabled a parliamentary bill that would allow it to nearly double the number of carbon credits it can buy to help it get back on track to meet its emission reduction target under the Kyoto Protocol.
http://jlne.ws/AwBMbs

UK govt files plans to build carbon capture plants
Point Carbon
The British government on Friday called for proposals to build at least one carbon-capture and storage (CCS) power plant in the European Union’s official journal, one step short of launching its official tender which has been long anticipated.
http://jlne.ws/zn6TX7

Iberdrola Resists Spain’s Push to Swallow Part of $32 Billion Tariff Debt
Bloomberg
Iberdrola SA (IBE) Chairman Ignacio Galan is resisting the Spanish government’s campaign to make utilities like his assume some of the 24 billion euros ($32 billion) in debt that consumers owe to electricity producers.
http://jlne.ws/z4WM7k

Iberdrola: the heat’s on
FT
Ever wondered why Spain ended up so far up the creek, financially speaking? Here is one (admittedly partial) explanation. The previous government, always eager to please, decided to go green by betting big on renewable and particularly solar energy. Spain, after all, is a sunny place. But the goal was pursued through a wasteful regime of subsidies that has created a “tariff deficit” of 24bn euros – the difference between the cost of producing and distributing electricity and the amount that utilities can charge consumers for it.
http://jlne.ws/yJmXEa

Trina Leads Solar Slump on German Tariff Cut: China Overnight
Bloomberg
Trina Solar Ltd. (TSL) led declines in Chinese solar stocks traded in the U.S. as the company reported a larger-than-expected net loss and as Germany plans to cut subsidies for the industry, dimming the outlook for sales.
http://jlne.ws/y6gW77
**repeats in Asia

Qatar Wealth Fund Boosts Stake to 8.4% in Spain’s Iberdrola
Bloomberg
Qatar Investment Authority, the emirate’s sovereign wealth fund, increased its stake to 8.4 percent in Iberdrola SA, raising its investment in Spain’s largest electricity provider to 2.27 billion euros ($3 billion).
http://jlne.ws/yjlscE
**repeats in Africa/Middle East

Energy finds could fuel sector M&A prospects
FT
Anyone worried about the oil running out can find comfort in each morning’s stock market announcements. Hydrocarbons are everywhere, apparently. Huge reservoirs lie off Central America, Asia, both coasts of Africa. There may be world-class fields just waiting to be tapped in the waters off Greenland, the Falkland Islands and the Bahamas. And, for every billion-barrel prospect, a tribe of private investors has already gathered to eulogise its potential.
http://jlne.ws/xf407N

Why Canada needn’t fear the EU’s oilsands politics
Ottawa Citizen
As the parliament of the European Union was getting ready to vote earlier this week on how the EU would treat oil from Canada’s oilsands, many Canadians were on tenterhooks. Would Europe blacken Canada’s eye by adopting the Fuel Quality Directive, declaring our oil to be “highly polluting”?
http://jlne.ws/wfuIrX

**repeats in Canada

Asia

China Encourages Solar-Product Makers to Expand Amid Supply Glut

Bloomberg
China set targets for increasing production capacity at key polysilicon and solar cell makers, part of the government’s plan to ensure its companies survive a slump in prices.
http://jlne.ws/y02YuX

Trina Leads Solar Slump on German Tariff Cut: China Overnight
Bloomberg
Trina Solar Ltd. (TSL) led declines in Chinese solar stocks traded in the U.S. as the company reported a larger-than-expected net loss and as Germany plans to cut subsidies for the industry, dimming the outlook for sales.
http://jlne.ws/y6gW77
**repeats in Europe

Billionaires Vie for Railway to $40B Coal Region

Bloomberg
The race to open a $40 billion coal region in Australia is being led by billionaires Gina Rinehart and Clive Palmer. Victory depends on who wins approval to build a 500-kilometer (310-mile) railroad to the coast.
http://jlne.ws/wJdN0F

BP Plans to Withdraw From Solar-Energy Venture in Australia
Bloomberg
BP Plc (BP/), Europe’s second-largest oil company, plans to withdraw from a venture seeking Australian government funds to build a solar-power project in the state of New South Wales.
http://jlne.ws/xGUbF1

NHPC Said to Plan Raising 15 Billion Rupees From Bond Sale
Bloomberg
NHPC Ltd. (NHPC), an Indian hydroelectric power producer, plans to raise as much as 15 billion rupees ($305 million) selling 15-year bonds, according to a person with direct knowledge of the matter.
http://jlne.ws/wKh1mU

Australia’s AGL to buy out Loy Yang for $480 mln
Point Carbon
Australia’s AGL Energy said it would take full control of Victoria’s largest power station, buying out Japan’s Tepco and investment funds for A$448 million ($480 million), in a deal that will boost earnings from fiscal 2013.
http://jlne.ws/AfloBo

CO2 tax takes centre stage in Australian leadership battle

Point Carbon
The future of Australia’s carbon tax has been cast into doubt as Prime Minister Julia Gillard and her predecessor Kevin Rudd on Monday square off over who should run the country.
http://jlne.ws/wrIAFX

Africa/Middle East

Israel nixes solar energy for Palestinians

AP
AL-THALA, West Bank — Electricity from solar panels and wind turbines has revolutionized life in rural Palestinian herding communities: Machines, instead of hands, churn goat milk into butter, refrigerators store food that used to spoil and children no longer have to hurry to get their homework done before dark.
http://jlne.ws/xor3Sy

Qatar Wealth Fund Boosts Stake to 8.4% in Spain’s Iberdrola
Bloomberg
Qatar Investment Authority, the emirate’s sovereign wealth fund, increased its stake to 8.4 percent in Iberdrola SA, raising its investment in Spain’s largest electricity provider to 2.27 billion euros ($3 billion).
http://jlne.ws/yjlscE
**repeats in Europe

“Pay as you go” solar lights up world’s newest country

Business Green
The world’s newest country is the latest to install “pay as you go” solar systems pioneered by UK start-up Eight19. The Cambridge-based company hopes to install 1,000 IndiGo systems, consisting of a battery, a solar panel, lights, and a phone charging device, in off-grid communities in South Sudan by the middle of this year.
http://jlne.ws/xVXJIm

Latin America

Brazil to Invest $35.4 Billion in Sugar-Cane Fields for Fuel
Bloomberg
Brazil’s government plans to boost investment in sugar-cane plantations by 60.5 billion reais ($35.4 billion) during the next four years to ensure an adequate supply of crops for the nation’s ethanol industry.
http://jlne.ws/xqPF2E
**repeats in Leads

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