Quote of the Day

“It puts the Chinese airlines in the impossible situation of either they break the law in Europe or they break the law in China. What do they do?”

Tony Tyler, director-general of the International Air Transport Association, an industry trade group, in the Financial Times’ “China creates turbulence over EU aviation levies”

Lead Stories


Carbon bubble: Bank of England’s opportunity to tackle market failure

Guardian
The depth of the financial system’s exposure to high carbon and environmentally unsustainable investments could be a systemic risk that threatens economic security. In a letter sent to Sir Mervyn King, the governor of the Bank of England, a coalition of investors, politicians, and academics recently urged the bank to investigate these issues in order to prevent the profound harm that could be wrought by an over-exposure to high carbon assets and a rapid shift in their values.
http://jlne.ws/zWhIYT

Sir Mervyn King hints at possible “carbon bubble” investigation
Business Green
Governor of the Bank of England Sir Mervyn King has confirmed regulators could investigate whether exposure to fossil fuel-related assets pose a long-term risk to financial stability, although he insisted a number of conditions would have to be met before such an investigation could be launched.
http://jlne.ws/zoptHE

So long Chris Huhne, and thanks for all the fights

Business Green blog
You can say what you like about Chris Huhne, and a lot of people have over the past four days, but he has certainly overseen an eventful 20 months for the Department of Energy and Climate Change (DECC) and the UK’s burgeoning green economy.
http://jlne.ws/A5f2xg

China Bans Airlines From Joining EU Carbon Levies System

Bloomberg
China, home to the world’s fastest growing aviation market, banned airlines from taking part in a European Union carbon-emissions system designed to curb pollution, saying the program violates international rules.
http://jlne.ws/xWrcVx

China has moral high ground over “dirty skies”

Reuters
China is fighting for its right to pollute. The government has banned Chinese airlines from paying a pointless new European emissions tax.
http://jlne.ws/xzE9Qu


China bars its airlines from paying EU carbon tax

AP
China announced Monday it will prohibit its airlines from paying European Union charges on carbon emissions, ratcheting up a global dispute over the cost of combatting climate change.

http://jlne.ws/AwNynr


China creates turbulence over EU aviation levies

FT
China’s decision to bar its airlines from the European Union’s carbon market represents the first turbulence since the aviation industry was forced to fly under the scheme a little more than a month ago.
http://jlne.ws/yrBAQe

E.U. Rebuffs China’s Challenge to Airline Emission System

The New York Times
The European Commission said Monday that it would continue charging airlines for their greenhouse gas emissions, despite an announcement from China that its carriers would be forbidden to pay without its permission.
http://jlne.ws/zo2ZFA

Opponents of EU airline CO2 scheme to meet in Moscow

Reuters
A group of 26 countries vehemently opposed to the EU’s aviation emissions trading scheme will meet in Moscow on February 21 to discuss a plan of action, EU and Indian sources told Reuters on Monday.
http://jlne.ws/wfqiz7

EU an ocean apart from U.S. on climate change
San Francisco Chronicle
Soon after arriving in the Bay Area, my Anglo American partner gave up on public transport and decided to lease a car. She opted for a Honda Fit, which had “good” mileage of 33 mpg until compared with the same model sold in the United Kingdom, which does around 55 mpg.
http://jlne.ws/xVL8Vt

Spain Needs $466 Million in Carbon Credits to Meet Kyoto Limit
Bloomberg
Spain may need to buy at least 355 million euros ($466 million) of carbon emissions permits to meet its obligations under the Kyoto Protocol, Agriculture Minister Miguel Arias-Canete said.
http://jlne.ws/zE7fvV

In Electricity Market: Who’s Got the Power?

Wall Street Journal Japan
In Tokyo, where buying electricity from the country’s premier utility is an increasingly pricey proposition, buying power from a cheaper independent provider may seem like a good idea. Unfortunately, it’s not so simple.
http://jlne.ws/wx282l

Stalemate looms on NOx vs CO2 diesel emission limits

Automotive World
Which emissions are more harmful: oxides of nitrogen (NOx) or carbon dioxide (CO2)? No-one can provide a definitive answer, because any judgment on the subject is akin to comparing apples with oranges. Nitrogen oxides are pollutants, constituting an immediate threat to human health, while CO2 is a longer-term – albeit profound – hazard, detrimentally affecting the planet’s climate.
http://jlne.ws/xJkhlQ

Climate-change solutions depend on open dialogue
San Francisco Chronicle
Katharine Hayhoe is a busy woman. As an atmospheric scientist at Texas Tech University in Lubbock, she studies the regional impact of climate change. As a Christian, she volunteers, sharing her science with church and public groups. And as the mother of a young child – well, enough said.
http://jlne.ws/xV6OTM

Could an artificial volcano cool the planet by dimming the sun?

Guardian
Dimming the sun by engineering the effects of an artificial volcano is a feasible and potentially cost-effective option to reduce temperatures on Earth, the first major study of the practicality of planetary-scale solar radiation management (SRM) concludes.
http://jlne.ws/A5Hq5c


US

Making fracking politically acceptable: John Kemp
Reuters
Fracturing oil and gas from tight rock formations promises secure energy supplies for generations, but only if industry and regulators can convince voters it can be done safely without poisoning water supplies or adding to global warming.
http://jlne.ws/wm6vcf

Republican primary candidates on climate change
SF Gate
In the past five years, climate scientists have become increasingly convinced that human activities are having a dangerous, long-lasting impact on the global climate. Many Republican primary candidates meanwhile, have been moving the other way.
http://jlne.ws/z2StxR

Canada Natural Resources Vice Chairman Opposes Keystone Pipeline
Wall Street Journal
Not everyone in Canada supports the proposed oil pipeline from Alberta to the U.S. and to the British Columbia coast. Claude Gravelle, vice chair of the Canadian Parliament’s Natural Resources Committee and a member of the official opposition party in Canada, the left-leaning New Democratic Party, spoke about how the exporting of Canadian oil could translate into oil spills, environmental costs and lost Canadian jobs.
http://jlne.ws/yKVsPE
**repeats in Canada

US, states eye recommendations on gas-electric interdependency

Platts
The US Federal Energy Regulatory Commission and the National Association of Regulatory Utility Commissioners plan to recommend ways to improve the coordination of generation and natural gas supplies to avoid power outages such as the one that struck the Southwest during a February 2011 cold snap, commissioners said Sunday.
http://jlne.ws/zp0l38

Rep. Issa threatens Chu with subpoena
The Hill’s E2 Wire
Energy Secretary Steven Chu could face a subpoena if he does not testify before the House Oversight and Government Reform Committee in the next 60 days on his department’s loan program, the panel’s chairman said Monday.
http://jlne.ws/AAHMzP

After 185K Solyndra documents, GOP is hungry for more

The Hill’s E2 Wire
House Republicans are hungry for more information about the $535 million loan guarantee to Solyndra despite the more than 185,000 pages of documents turned over by the Obama administration so far.
http://jlne.ws/w4gejV

Canada

Canada Natural Resources Vice Chairman Opposes Keystone Pipeline
Wall Street Journal
Not everyone in Canada supports the proposed oil pipeline from Alberta to the U.S. and to the British Columbia coast. Claude Gravelle, vice chair of the Canadian Parliament’s Natural Resources Committee and a member of the official opposition party in Canada, the left-leaning New Democratic Party, spoke about how the exporting of Canadian oil could translate into oil spills, environmental costs and lost Canadian jobs.
http://jlne.ws/yKVsPE
**repeats in US

Canada, Alberta commit to ‘improve’ environmental monitoring of oil sands

Oil & Gas Journal
The governments of Canada and Alberta, stung by the recent US decision to postpone development of the Keystone XL crude oil pipeline project, have agreed to step up their monitoring of the environmental effects of oil sands developments.
http://jlne.ws/zOHI77

Oil sands and warming go together – Column

The Sudbury Star
Discourse on the proposed Northern Gateway pipeline from the Alberta oil sands to the B.C. coast got off to a raucous start with name calling, accusations and concerns that Canada’s economy is at stake even before the hearings in Kitimat, B.C. even began.
http://jlne.ws/AaUABa

Europe

Lib Dem leadership hits back as Tory MPs declare war on wind farms

Business Green
The long-running battle for the future direction of the UK’s green economic policy has broken into the open, after Tory backbenchers launched an assault on the coalition’s renewable energy subsidies and the Lib Dem leadership responded with an impassioned defence of the government’s environmental agenda.
http://jlne.ws/yPiWDC

Every windfarm mapped – and the MPs who hate them

Guardian data blog
What difference do anti-windfarm MPs make? Conservative MPs have written to prime minister David Cameron demanding cuts to support for onshore windfarms and easier ways to block them through planning objections. We thought it would be interesting to show where those MPs are based – and where windfarms are either working, planned or in planning. This map is the result – what patterns do you think it shows?
http://jlne.ws/x9fWaJ

Nick Clegg defends wind power subsidies after Tory-led attack

Guardian
Nick Clegg has led a fightback against concerted attacks by Conservative MPs on government subsidies to support wind power. A letter to the prime minister signed by more than 100 Tory backbenchers called for a “dramatic cut” in subsidies for onshore windfarms, and new planning rules to make it easier for local communities to object to them. But the deputy prime minister defended subsidies to help renewable energy compete with fossil fuels, highlighting a growing division in the coalition over energy policy.
http://jlne.ws/yRe5dA

Asia

Australia eyes first CO2 auction in early 2014
Point Carbon
Australia is likely to hold its first CO2 permit auction in 2014 as the government looks to provide early liquidity in its emissions trading scheme, according to a government document.
http://jlne.ws/A4FRMH

Australian floor price rules to dictate CER demand: lawyer

Point Carbon
Australian demand for U.N. carbon credits will be difficult to assess by investors until the government rules on how to introduce a price floor in its emissions trading scheme, a lawyer said Monday.
http://jlne.ws/xnefWQ

Carbon trade alone won’t achieve targeted emissions cuts, says study

ABC
A new study says the Federal Government won’t be able to hit its greenhouse emission reduction targets over the next 40 years if it simply relies on market forces.
http://jlne.ws/wVwV7J

A carbon-priced world is not enough

Business Spectator
The federal government’s emissions trading scheme will change the behaviour of Australian businesses, especially those in the energy sector. In the short term, the scheme will make gas prices competitive with coal, and investment will shift accordingly. This is the right sort of outcome that the scheme is designed to deliver.
http://jlne.ws/A6bfi9

Repeating report from Monday’s edition:
THE REPORT:
No easy choices: which way to Australia’s energy future?
Grattan Insitute
http://jlne.ws/zZwGsX

Other

Electric cars: ‘Plug-ins’ look for spark in 2012
The Christian Science Monitor
It’s early yet, but 2012 is shaping up as a white-knuckle Year 2 for the makers of new “plug-in” vehicles, who have wagered billions that the appeal of new electric-drive technologies will surmount hurdles not only from a weak-as-a-kitten economy, but also from high sticker prices and a spate of unfavorable publicity.
http://jlne.ws/AqdRJ9

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