Quote of the Day

“The provision is dangerous as it would destroy investment security and may be expanded to subsidies for wind and biomass. We fear a rollback in clean- energy and climate policy at a time when Germany wants to lead.”

Carsten Koernig, the head of the BSW Solar industry group, in Bloomberg’s “Merkel Cabinet to Back ‘Dangerous’ Clean-Energy Bill, Lobby Says”

Lead Stories

FTSE accelerates green push with new Carbon Strategy indices

Business Green
nvestors and businesses in Europe, Japan and Australia will from today be provided with a new tool for tracking large firms’ exposure to carbon-related risks, after the FTSE Group launched four new green indices as part of its FTSE CDP Carbon Strategy Index Series.
http://jlne.ws/zlp6J7

Australia releases rules for $9.2 bln CO2 price support

Reuters
The Australian government on Tuesday released rules governing$8.6 billion ($9.2 billion) in free carbon permits to polluting industries, a key part of a package of sweeteners needed to win support for a nationwide price on carbon emissions from July.
http://jlne.ws/zYXO2J

Carbon trader Noble back in black, limits exposure to weak CERs
Point Carbon
Noble Group, a major buyer of U.N. offsets, swung back into profit in the final quarter of 2011 following a huge loss in the third quarter related to hedging in the carbon market.
http://jlne.ws/wdeGiX

Breaking: EU politicians approve plan to withhold carbon permits

Business Green
A European Parliamentary committee has voted through proposals to support fragile carbon prices by setting aside a number of permits in the next phase of the EU’s emissions trading scheme.
http://jlne.ws/wdE8LT

Europe’s other crisis: Greener than thou
The Economist
WHILE Europe’s leaders battle for the euro, another signature creation of the European Union (EU), one of the world’s most ambitious climate change policies, is also under attack. That is largely to its credit. Unlike most governments, the Europeans are actually trying to cut emissions of greenhouse gases and, in a globalised economy, this is starting to test trade rules and inconvenience others.
http://jlne.ws/wYwVWP

EPA Greenhouse Gas Rules Under Scrutiny in Two-Day Hearing

Businessweek
The U.S. Environmental Protection Agency’s limits on vehicle and industrial emissions of greenhouse gases including carbon dioxide are being scrutinized by U.S. judges as a two-day court hearing began in Washington.
http://buswk.co/y4UD43
**JK – Data manipulation argument is part of the strategy.

In Ecology News: Heartland leak, hydrofracking law, and conservation in pictures
EcoTone
FRESH water scientist (and MacArthur Fellow and member of the National Academy of Sciences) Peter Gleick was all over conservation news last week with the shocking revelation that he impersonated a board member of the libertarian Heartland Institute in a ruse to extract private documents concerning climate change strategy.
http://jlne.ws/yv5tEj

Obama angers green businesses with support for Keystone Plan B
BusinessGreen
President Barack Obama has angered green businesses and NGOs by throwing his weight behind a new plan that could see work start on the controversial KeystoneXL tar sands oil pipeline in the next few months, crushing hopes that the administration would permanently block the project.
http://bit.ly/ApAo4x
**JK – This will get built but for many of the wrong reasons.

Reaffirming the Importance of Asian Markets
CME Group Open Markets
Yesterday we announced the signing of an agreement with RIM Intelligence of Japan which will enable us to license their market-leading energy prices to create new yen-denominated OTC products for both the Japanese and global markets.
http://bit.ly/yU6VaP
**JK – Update on CME Group’s efforts in Asia and Middle East.

Merkel Cabinet to Back ‘Dangerous’ Clean-Energy Bill, Lobby Says

Bloomberg
Chancellor Angela Merkel’s Cabinet is preparing to back measures giving ministers authority to adjust subsidies for renewable energy in Germany, a move the industry says would destabilize its ability to finance plants.
http://jlne.ws/AfCXUX

First Solar Posts Fourth-Quarter Loss on Restructuring Charges

Bloomberg
First Solar Inc. (FSLR), the world’s largest maker of thin-film solar panels, reported a fourth- quarter loss as panel prices dropped and it took charges related to restructuring efforts.
http://jlne.ws/x7Vnch

US

Clinton: No timeline yet for new Keystone pipeline decision
The Hill’s E2 Wire
Secretary of State Hillary Clinton says it’s too early to say how quickly the State Department might decide on TransCanada Corp.’s revised plans to build the controversial Keystone XL oil sands pipeline.
http://jlne.ws/ypsCOA

U.S. carbon capture incentives could slash 4 bln tonnes CO2
Point Carbon
A bipartisan group of lawmakers on Tuesday backed tax incentives for companies that trap carbon dioxide and use it to produce oil, a practice that could cut emissions by 4 billion tonnes over the next 40 years while boosting domestic oil supplies.
http://jlne.ws/wweWzf

What Happens If The Keystone XL Pipeline Isn’t Built?
New Hampshire Public Radio
Gas isn’t like a rare bottle of wine that fetches a high price just because it’s rare. But at the same time, no one can agree what drives gas prices. Demand for gasoline in the U.S. is at its lowest point in more than a decade; domestic oil production is at an eight-year high.
http://jlne.ws/yXpx6e
**repeats in Canada

BP to Sell Kansas Gas Assets to Linn Energy
Wall Street Journal
BP PLC’s asset-divestiture program gathered momentum Tuesday as the U.K. energy giant announced the sale of a series of Kansas natural-gas assets to Linn Energy LLC for $1.2 billion in cash.
http://jlne.ws/AdyE6z

Canada

Farmers Won’t Gain From Carbon Trade
The Star
The World Bank through its BioCarbon Fund is promoting the Kenya Agricultural Carbon Project in western Kenya. This project is an invaluable case study on the value proposition of carbon markets for Africa’s smallholder farmers. At full implementation the project will enlist 60,000 farmers on 45,000 hectares over 20 years. It is esti mated the project will generate a total of 1.2 million metric tons of carbon dioxide, from which 60 percent will be discounted to account for impermanence and methodological and estimation uncer tainties.
http://jlne.ws/zQUReQ

What Happens If The Keystone XL Pipeline Isn’t Built?

New Hampshire Public Radio
Gas isn’t like a rare bottle of wine that fetches a high price just because it’s rare. But at the same time, no one can agree what drives gas prices. Demand for gasoline in the U.S. is at its lowest point in more than a decade; domestic oil production is at an eight-year high.
http://jlne.ws/yXpx6e
**repeats in US

Europe

U.K. May Reap $57 Billion From Offshore Wind Industry by 2050
Bloomberg
The U.K. government estimated that the offshore wind industry may contribute more than 35 billion pounds ($57 billion) to the economy by 2050 if the cost of the technology is cut quickly enough.
http://jlne.ws/woEuHK

Dear chancellor: Budget wishlists

Financial Times
The EEF has asked the government to reform energy and climate change policy. It argues that the government’s plans to double the rate of carbon price support levied on fossil fuels would cost the UK economy an extra 300m sterling and widen the gap between electricity prices in the UK and Europe.
http://jlne.ws/w6FoYT

Asia

Power generators top list of carbon emitters to pay tax
The Age
NSW’S biggest power generator could pay nearly half a billion dollars a year under the carbon tax, according to government figures released yesterday – a payment that is likely to flow through to electricity costs.
http://jlne.ws/Aq2K6s

JA Solar Holdings Boosts Forecast for Shipments in 2011
Bloomberg
JA Solar Holdings Co. lifted its forecast for shipments in 2011, saying sales in the fourth quarter are likely to exceed its previous guidance.
http://jlne.ws/xxQaOq

ONGC, GAIL Confirm Cove Interest
Wall Street Journal
India’s state-run Oil and Natural Gas Corp. and GAIL (India) Ltd., a state-owned natural-gas-distribution company, said Tuesday they are mulling a rival bid for Mozambique-focused natural-gas explorer Cove Energy PLC but have yet to decide whether to make a formal offer.
http://jlne.ws/zH60Mz

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