“It’s still entirely possible for this [Keystone pipeline] project to proceed. There is no doubt that is the opinion of the applicants in the project and we’re going to support them in any way they find helpful to try to achieve success on this project.”

Alberta Premier Alison Redford, in Reuters’ “Republicans fume as Keystone oil pipeline reLinkjected”

Lead Stories

Keystone XL pipeline: Obama rejects controversial project
Barack Obama rejected the controversial Keystone tar sands pipeline on Wednesday, making good on a promise not to give in to a Republican ultimatum on the project.
**JK – This move by the Obama Administration is a mistake, but not for the exaggerated employment figures touted by supporters. This will be another power play win for natural resources by China.

Keystone XL pipeline application rejected by Obama administration, will it hurt his reelection chances?
The Washington Post
The decision and the language that accompanied it made clear that the White House, far from deflecting a political issue until after the election, was fully engaged in a battle with pipeline proponents. Obama said that his administration had worked to improve energy security through higher fuel-efficiency standards, and that it would explore ways to relieve the pipeline bottleneck slowing oil shipments between a major terminal in Cushing, Okla., and the nation’s gulf coast refineries.
**JK – This issue isn’t close to being over.

Obama Says No, for Now, to Canada Pipeline
Wall Street Journal
The Obama administration rejected the construction of the Keystone XL oil pipeline from Canada to the Gulf of Mexico, saying a congressionally imposed deadline didn’t allow enough time to review the project’s environmental impact.
**RKB – Another chance? Congress is considering a measure to extend the lower payroll-tax rates past February, when they expire. Republicans could attach to that must-pass bill language that deems the pipeline in the national interest.

Obama rejects Keystone pipeline from Canada to Texas
USA Today
President Obama‘s rejection Wednesday of rapid approval of the Keystone XL pipeline from Canada to Texas triggered Republican and business community objections but also signs from Obama and the pipeline company that the issue was far from over.

Republicans fume as Keystone oil pipeline rejected
The Obama Administration rejected the Keystone oil pipeline on Wednesday, a move that Republicans decried for sacrificing jobs and energy security in order to shore up the president’s environmental base before elections.

Factbox: Keystone XL dominates energy, environment agenda
TransCanada Corp’s Keystone XL pipeline has been at the center of an emotional debate in the United States, pitting promoters of energy security and job creation against advocates of a green economy who fear the environmental risks of moving oil across the length of the country.

GOP mulls legislation to force Keystone approval
The Hill’s E2 Wire
Republicans are mulling legislative options to circumvent the Obama administration’s Wednesday decision to reject the Keystone XL pipeline.

Opinion: Six reasons Keystone XL was a bad deal all along

Fox News.com
The fact is, for the good of our country and our economy, rejecting the Keystone XL deal was the best decision possible.

To Harper’s ‘profound disappointment,’ Obama rejects Keystone

Globe and Mail
U.S. President Barack Obama has again delayed a decision on the controversial Keystone XL pipeline project until after the November election, and in doing so drew fire from Republicans, the oil industry and Prime Minister Stephen Harper.

Shale oil and gas ‘will make US self-sufficient’

Growth in shale oil and gas supplies will make the US virtually self-sufficient in energy by 2030, according to a BP report published on Wednesday.

BP Energy Outlook 2030

Barclays shutters U.S. emissions trading desk

Point Carbon
Investment bank Barclays Capital has closed its US emissions trading desk in New York, sources said Wednesday, a move that takes one of the primary traders of California carbon allowances (CCAs) out of the emerging market.

Merriman Capital Announces Sponsorship of Carbon Energy Limited on OTCQX
Press Release
Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (otcqx:MERR), today announced that it will serve as the new Principal American Liaison (PAL) for Carbon Energy Limited (otcqx:CNXAY)(asx:CNX), sponsoring the Company’s American Depositary Receipts (ADRs) on OTCQX.

Tougher 30% emissions cut would be cheaper than expected: report

Moving to a tougher Europe-wide target on greenhouse gas emissions would present the UK with little problem, contrary to what some business lobbyists and thinktanks have been alleging, according to a new analysis of the goals seen by the Guardian.
**RKB – Report not yet available; Guardian reporting from advance release.

IEA Cuts Oil-Demand Forecast

Wall Street Journal
The International Energy Agencytook an ax to its oil-demand forecast, after consumption fell in the fourth quarter of 2011 for the first time since the tail end of the credit crunch.

Norway pledges $300 million/year to green world’s power

Norway will spend NOK 1.8 billion ($300 million) a year to devise ways to help some of the world’s poorest people get better access to energy and to develop a new market-based system to limit emissions from global energy production, a foreign ministry official said Wednesday.

T S Vishwanath: A lighter carbon trailThe EU must find ways of achieving sustainability without taxing the global aviation industry too much

India’s Business Standard
The war of words between the European Union (EU) and the aviation industry in the US and China over the EU Aviation Emissions regulation is a good pointer to the disputes that may arise over the next few years when policy-makers and industry will spar over the domestic policy space available to countries when viewed through the prism of international obligations.

David Attenborough urges big business to stop population expansion

Business Green
Sir David Attenborough has called on big businesses to protect the natural world from the rapidly expanding human population.


New Gas Economy Rules Generate Wide Support

The New York Times
Writing new regulations that will require cars and trucks to have significantly higher fuel economy by 2025 prompted years of fighting among automakers, environmentalists, regulators and consumer groups.

Nebraska ranchers see victory in Keystone rejection
Nebraska ranchers celebrated the Obama administration’s rejection of the proposed Keystone pipeline on Wednesday as a hardfought victory for the state’s environmentally sensitive Sandhills region – even as Republican lawmakers vowed to keep fighting for the project.

House GOP wants Clinton to testify on Keystone
The Hill’s E2 Wire
House Republicans have invited Secretary of State Hillary Clinton to testify next week on the Obama administration’s decision to reject the Keystone XL pipeline.

Romney pounces on expected Keystone decision
The Hill’s E2 Wire
Mitt Romney quickly attacked President Obama Wednesday for his administration’s expected decision to reject the Keystone XL pipeline.


Enbridge undeterred by B.C. chiefs’ rebuke of Northern Gateway
Globe and Mail
With its sole public agreement with a native group in tatters, Northern Gateway proponent Enbridge Inc. on Wednesday said it will continue to court the Gitxsan First Nation and other bands whose traditional territories would be crossed by the $5.5-billion pipeline project.

Economics biggest threat to embattled oil sands

Globe and Mail
Alberta’s embattled oil sands face well known risks from foreign radicals, movie stars, environmentalists and stalled pipelines projects. But there may be an even scarier threat: plain old economics.

EPA urged to disregard oilsands emissions in Keystone decision: letters
Postmedia News
The Alberta government has acknowledged that the Obama administration had accurate information about environmental impacts of oilsands development, but unsuccessfully urged it to disregard the industry’s footprint on the planet’s climate in an evaluation of the Keystone XL pipeline project, newly released correspondence has revealed.


Government rejects latest “flawed” report on cost of renewable energy policies
Business Green
Patience is obviously wearing thin. Following the release today of the third major report in the last two months criticising the cost of the Department of Energy and Climate Change’s (DECC) renewable energy policy, officials have hit back branding the latest report from the Policy Exchange thinktank as “flawed” and “not credible”.

UK wind power reaches record 6GW milestone
Business Green
The UK now boasts 6GW of wind energy capacity, enough to provide power to over 3.3 million homes, according to the latest update from trade association RenewableUK.

Denmark awaits EC analysis before reopening CO2 target talks
Point Carbon
Denmark will only start discussions between member states on a deeper EU emission reduction 2020 goal after the European Commission publishes a detailed report on the costs involved, a Danish official said Wednesday.

Greek EUAs fetch 6.76 euros each in first 2012 auction
Point Carbon
Greece sold 1 million spot EU Allowances for 6.76 euros each on Wednesday in the debt-riddled country’s first carbon permit auction of the year.


China lowers carbon floor price as CER prices crash
Point Carbon
China has lowered the minimum price foreign companies must pay for Chinese carbon credits for the first time since 2008, but traders say the move is unlikely to have much impact as it will remain twice as high as current carbon prices.

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