Quote of the Day

“The document discussed is explicit in listing nuclear and CCS as separate to renewables. Nuclear power is not a renewable technology, fact. Renewables will play a key role in the future UK energy mix, helping to reduce import dependency and meet our carbon targets.”

U.K. Energy and Climate Change Secretary Edward Davey in letter responding to Guardian article “UK wants renewable energy target scrapped.”

Lead Stories

Farmers Battle Water Scarcity as Food Demand Grows, UN Says

Farmers will need 19 percent more water by 2050 to meet increasing demands for food, much of it in regions already suffering from water scarcity, according to a United Nations report.



Business to play a big role in green economy at Rio

Financial Times
June marks the 20th anniversary of the Rio Earth Summit, the event that led to the Kyoto Protocol, the creation of carbon markets and the kickstarting of a renewable energy revolution. It is being marked by another summit, known as Rio+20. But while the 1992 meeting was policy-focused, with more than 100 heads of state turning up to hammer out a deal, business is set to play a much bigger role this year.

Banks, Pension Funds to Shrink 2013 CO2’s Premium, Barclays Says
New lenders in the European Union carbon market including banks and pension funds may narrow the premium of 2013 futures compared with those for 2012, said Barclays Plc. (BARC).

Senior carbon trader leaves Goldman Sachs
Point Carbon
Andrew Mugadu, one of Goldman Sachs’ longest serving carbon traders has left the bank, company and industry sources said Wednesday, although one source at the bank said it would not affect its exposure to the carbon market.

Carbon broker AitherCO2 to expand in Milan, London
Point Carbon
Carbon broker and trader AitherCO2 will expand its headquarters in Milan and open a new office in London, hiring seven additional staff by the end of May, its head trader said on Monday.

UK wants 2030 renewable energy target scrapped
Business Green
The UK government wants nuclear power to be given parity with renewables in Europe, in a move that would significantly boost atomic energy in Britain but downgrade investment in renewable generation, according to a leaked document seen by the Guardian.

Davey slams reports of UK opposition to renewables targets

Business Green
Energy and Climate Change Secretary insists UK is not trying to reclassify nuclear as a renewable source of power.

UK does not want 2020 renewable energy target scrapped: Letter to The Guardian
Letter – DECC site

EU targets farm, forest land in extending CO2 curbs
Point Carbon
EU governments will have to record changes to forestry and farmland that alter the carbon balance under draft law published on Monday, as the European Commission presses ahead with new rules against greenhouse emissions.

Airbus, Airlines Urge EU CO2 Compromise to Avoid Retaliation
Airbus SAS and Europe’s biggest airlines called on the European Union to find a compromise on aviation carbon curbs, warning that the EU emission limits on foreign carriers could lead to increased retaliation.

Brussels rejects air industry move on carbon
Financial Times
The European Commission has rejected the aerospace industry’s call for airlines to be suspended from the EU’s contentious carbon emissions trading scheme because of fears about a global trade war.

Oil Producers Worry About Impact of High Prices on Economy, Demand

The Wall Street Journal
Representatives of some of the world’s top oil producers, preparing to meet with consumers at an energy summit in Kuwait, voiced concern that rising oil prices could jeopardize a global economic recovery.

Faulty Wells, Not Fracking, Blamed for Water Pollution

Wall Street Journal
Some energy companies, state regulators, academics and environmentalists are reaching consensus that natural-gas drilling has led to several incidents of water pollution—but not because of fracking.

Plugging into algal power
The Age
THEY are vanishingly small, quite unremarkable under a microscope and anything but exotic. Yet microalgae, found anywhere from oceans, lakes and swamps to soils, rocks and icy mountain tops, are the Earth’s clean, green micro-machines.


Gas prices trigger Obama scramble
The Hill’s E2 Wire
The White House scrambled Monday to contain the political damage from rising gas prices, which have emerged as a primary threat to President Obama’s reelection.

Sen. Burr says amendment expanding tax credit for natural-gas vehicles likely to fail
The Hill’s E2 Wire
Sen. Richard Burr (R-N.C.) predicted on Monday afternoon that an amendment to the highway bill creating a new tax incentive for companies to use natural-gas-powered vehicles will probably not pass the Senate this week.
Fund eyes California offset breakthrough
Point Carbon
Forestry offset supplier Conservation Fund is optimistic that two major projects will win eligibility under California’s carbon trading scheme, a move that could boost market supply by more than 1 million tonnes of carbon credits.

Evergreen Solar to Abandon Massachusetts Factory
The Wall Street Journal
Evergreen Solar Inc. said it has failed to find a buyer for its Devens, Mass., plant and plans to walk away from the facility, which was launched with some $50 million in state aid.

Solazyme Climbs on Defense Plans, Partners: San Francisco Mover

Solazyme Inc. (SZYM), which makes oil products from genetically modified algae, rose on speculation its relationship with the U.S. Defense Department will grow even as some of its raw material costs rise.

Chesapeake CEO Seeks Cash Infusion From Asian Gas Markets

Chesapeake Energy Corp. (CHK) Chief Executive Officer Aubrey McClendon is cultivating investors from Seoul to New Delhi eager to own natural gas that’s 85 percent cheaper than Middle East supplies because of a glut in the U.S.


No quick end seen to deep Canadian oil discounts
Dow Jones Newswires
Bargain-basement discounts on Canadian crude are more than just a short-term irritant for producers as surging supplies and a limited U.S. Midwest refining market threaten to cut industry-wide revenues by as much C$18 billion ($18 billion) a year, an analyst said on Monday.

Alberta, Ottawa, oil lobby formed secret committee
Toronto Star
The federal and Alberta governments struck up a secret, high-level committee in early 2010 to coordinate the promotion of the oilsands with Canada’s most powerful industry lobby group, a document obtained through an access to information request reveals.


Eon Wins U.K. Permission to Build Biomass Plant in Bristol
EON AG won permission to build a 150-megawatt biomass power station in Bristol, western England, the U.K. Department of Energy and Climate Change said today in an e-mailed statement. The plant, fueled by a mix of imported wood, locally-sourced wood and dedicated energy crops, could power up to 160,000 homes, the department said.

Dong to Spend $1.8 Billion Annually for Offshore Wind Projects
Dong Energy A/S plans to invest about 10 billion kroner ($1.8 billion) a year on offshore wind projects to offset a “challenging” environment for gas plants as it ceases to build new coal power facilities, its chief said.

Vestas wins order to build “largest” Lat Am wind farm
Point Carbon
Danish wind producer Vestas confirmed Monday that an international consortium has ordered 132 turbines for what it says will be Latin America’s largest wind power project, which will avoid over 900,000 tonnes of carbon dioxide annually in Mexico.
**repeats in Latin America

Nick Clegg and Caroline Spelman to lead Rio+20 UK team

Business Green
Deputy Prime Minister Nick Clegg is to lead the British delegation to the Rio+20 Earth Summit in Brazil this summer, in a move designed to ease fears the government could squander the opportunity to promote the UK’s low carbon economy on the world stage.


East Gippsland timber destined for chips, power
The Age
UP TO 90 per cent of timber logged in long-contested east Gippsland native forests over the next two decades could be woodchipped or burnt by electricity companies to generate power, government documents show.

Solar industry renews funding push
ABC News
Representatives of the solar hot water industry will be back in Canberra today lobbying for more financial support after a popular rebate program was suddenly closed last month.

Latin America

Vestas wins order to build “largest” Lat Am wind farm

Point Carbon
Danish wind producer Vestas confirmed Monday that an international consortium has ordered 132 turbines for what it says will be Latin America’s largest wind power project, which will avoid over 900,000 tonnes of carbon dioxide annually in Mexico.
**repeats in Europe

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