In this edition of EMN, the AP and other major outlets cover the first steps taken by the UN to craft a new pact. Long-time climate and business editor Todd Woody, writing for Forbes, takes a look at the California carbon market and the state’s budget woes. For its take, the San Francisco Chronicle points out the tough choices and lingering questions surrounding the California plan. The New York Times, meanwhile, reports high anti-dumping U.S. tariffs on Chinese solar panels.

Quote of the day:

“I’m not aware of any other company producing energy onsite at this scale. The plan we are releasing today includes two solar farms and together they will be twice as big as we previously announced.”

-Apple CFO Peter Oppenheimer in Reuters’ “Apple to use only green power for main data center”

Lead Stories

California Carbon Market To Generate Billions But Won’t End Budget Woes
Forbes
As Californians grapple with further draconian cuts to education and social services as the deficit soars – again – to $16 billion, a budgetary bright spot has appeared on the horizon: the billions of dollars in revenues that will be generated once a state carbon market launches later this year.
http://jlne.ws/KwQq1Q

Allocating California’s Carbon-Market Generated Dollars
Press Release
A new series of reports from University of California, Berkeley (UCB), University of California, Berkeley, School of Law, and Resources for the Future (RFF) experts examine how California might spend the funds generated by the state’s soon-to-be-launched carbon market under AB 32 (The California Global Warming Solutions Act). The four studies, commissioned by the nonpartisan nonprofit organization Next 10, together provide legal and economic analysis of different investment scenarios, including impacts on utility ratepayers and the economy.
http://jlne.ws/J3IC3y

Cap-and-trade to generate billions, tough choices
San Francisco Chronicle
Starting later this year, California’s cap-and-trade system to fight global warming will generate billions of dollars in revenue, as companies buy and sell permits to produce greenhouse gases.
http://jlne.ws/KwRm68

Reports: Funding energy efficiency programs makes economic sense
Sacramento Business Journal
As California policymakers discuss how to spend revenue generated by the state’s soon-to-be-launched carbon market, four related studies providing legal and economic analysis of different investment scenarios were released late Wednesday.
http://jlne.ws/JjVg2q

California’s CO2 scheme may face further legal challenges: report
Point Carbon
How California courts choose to classify the revenue generated by the sale of carbon allowances in the state’s cap-and-trade program will play a critical role in determining whether the scheme can get off the ground, according to a report released Wednesday.
http://jlne.ws/KcYgd8

THE REPORTS:

Using the Allowance Value from California’s Carbon Trading System: Legal Risk Factors, Impacts to Ratepayers and the Economy
Next10
http://jlne.ws/KEYcW5

Carbon prices deflating
Financial Mail (South Africa)
At the end of this year there will be changes to the European Union’s carbon market, the Emissions Trading Scheme , which has recently been under pressure because of deflated carbon prices.
http://jlne.ws/Kq5hak

UN talks take first steps on 2015 climate deal
AFP
UN members on Thursday took their first steps in a marathon to negotiate a new global pact by 2015 that for the first time will place rich and poor under a common legal regime to tackle climate change.
http://jlne.ws/J17bNw 
**RKB – The next window to meet will be the last week in June or first week in July, in Geneva, says Christiana Figueres, the UNFCCC’s executive secretary.

Apple to use only green power for main data center
Reuters
Apple Inc plans to power its main U.S. data center entirely with renewable energy by the end of this year, taking steps to address longstanding environmental concerns about the rapid expansion of high-consuming computer server farms.
http://jlne.ws/JztrBS
**RKB — Second big tech firm in recent days to announce a big green move.

A Carbon Neutral Drive
Financial Mail (South Africa)
The US-based software company has determined its own carbon price, based on the cost of buying offsets and the price of investing in renewable energy.
http://jlne.ws/KwUyyI
**RKB – We’ve covered the Microsoft story, but with a perspective from afar, here’s South African coverage on the announcement.

U.S. Imposes Anti-Dumping Duties on Chinese Solar Imports
Bloomberg
The U.S. Commerce Department imposed tariffs of 31 percent to 250 percent on Chinese solar-product imports, siding with companies including SolarWorld AG (SWV) in the U.S. that said the items were sold below the cost of production.
http://jlne.ws/JjBXao

U.S. Slaps High Tariffs on Chinese Solar Panels
The New York Times
The United States Commerce Department announced on Thursday the imposition of antidumping tariffs of more than 31 percent on solar panels from China, a decision certain to infuriate Chinese officials already upset after recent bilateral frictions over China’s human rights policies and its increasingly confrontational approach toward American allies like the Philippines and Japan.
http://jlne.ws/Jn3ilk

UK climate experiment canceled on patent concerns
Reuters
British scientists have abandoned an experiment to test the possibility of spraying particles into the upper atmosphere to stem global warming, largely due to concerns over a patent for some of the technology, the project’s leader said.
http://jlne.ws/JMWiC4

The Gas Age, Circa 1986
The New York Times Dot Earth column
The near-worldwide abundance of extractable natural gas has seemed like a surprise to many, but there’s a long line of analysis pointing in this direction, much of it originating with the work of the Italian physicist and systems analyst Cesare Marchetti.
http://jlne.ws/L3Ch7D 

US

Pickens Shuns Chesapeake Stock For First Time Since 2008
Bloomberg
T. Boone Pickens, the Texas billionaire who spent the past decade promoting U.S. natural gas as an alternative to Middle East oil, has walked away from the nation’s second-largest gas producer and the man he calls a friend as Chesapeake Energy Corp. (CHK)’s value dropped by a fourth.
http://jlne.ws/JOZ8FA

Insight: Peak, pause or plummet? Shale oil costs at crossroads
Reuters
Occidental Petroleum was among the first major U.S. oil drillers to make a big bet on the resurgence of domestic production, spending billions to grab oil patches from Texas to North Dakota.
http://jlne.ws/KUJg5F

America’s future oil supply depends on technology at this Canadian oil sands site
Financial Post
When Business Insider decided to follow up a series of stories I wrote about Williston, North Dakota by sending me to the Alberta oil sands, I had no idea what I was getting myself into.
http://jlne.ws/Kd3XrC
**repeats in Canada

Canada

Enbridge plans huge Canada, US pipeline expansion
Reuters
Enbridge Inc kicked off one of the most sweeping expansions in its history on Wednesday, a C$3.2 billion ($3.2 billion)series of projects across its pipeline system aimed at moving western Canadian crude to Eastern refineries and preventing bottlenecks in the U.S. Midwest.
http://jlne.ws/JOVImi
**RKB – continued coverage from Wednesday.

Canada pledges draft oil and gas regulations by 2012
Canada.com
Facing questions about its upcoming withdrawal from the Kyoto Protocol and “gaps” in its existing policies, Canada told international climate change talks in Germany Thursday that it planned to crack down on oil and gas pollution through draft regulations by next year.
http://jlne.ws/Kq1pGy

Canada oil sands output seen beating projections
Reuters
Production in the Canadian oil sands is likely to increase at a much faster clip than the industry currently projects, an analyst said, putting more pressure on pipeline companies to vastly expand capacity out of Alberta.
http://jlne.ws/Jn495F

America’s future oil supply depends on technology at this Canadian oil sands site
Financial Post
When Business Insider decided to follow up a series of stories I wrote about Williston, North Dakota by sending me to the Alberta oil sands, I had no idea what I was getting myself into.
http://jlne.ws/Kd3XrC
**repeats in US

Europe

Albania Seeks Private Investment in Low-Carbon Energy Projects
Bloomberg
Albania is trying to attract private investors to its power market as it diversifies energy sources and privatizes some of its infrastructure.
http://jlne.ws/JTGgWy

Estonia Won’t Cut Green Subsidies Retroactively, Minister Says
Bloomberg
Estonia will not lower subsidies to renewable-energy producers retroactively unless it reaches an agreement with investors, Environment Minister Keit Pentus said.
http://jlne.ws/J19oID

Poland takes gamble on EU handouts with climate veto
Point Carbon
Poland’s staunch opposition to stronger European Union commitments on climate change has won it few friends and could hurt it in talks over the next allocation of the funds that have underpinned the country’s robust economic growth.
http://jlne.ws/KUDL70

Fight Over Auto Emissions Is Measured in Grams
The New York Times
The battle to control carbon dioxide from automobile tailpipes in the European Union is fought by the gram — a measure roughly equivalent to the weight of a paperclip.
http://jlne.ws/Jn3FMQ

Davey: Solar feed-in tariff start date may be ‘tweaked’
Business Green
Ed Davey has today hinted the government may put back the planned July cut to subsidies for solar power, in a move that drew a mixed reaction from the industry.
http://jlne.ws/JzNSPk

Asia

China May Approve Nuclear Plan Next Month, Official Says
Bloomberg
China’s state council, or Cabinet, will probably hold a meeting before the end of June to approve safety and development plans for the nuclear industry, according to Xu Yuming, the vice secretary general of the China Nuclear Energy Association.
http://jlne.ws/KUwSCD

Japan Solar-Device Shipments to Exceed 2.5 Gigawatts in Year
Bloomberg
Japan’s shipments of solar-power devices will exceed 2.5 gigawatts in the year ending March 2013, said Mikio Katayama, chairman of the Japan Photovoltaic Energy Association, at a press conference.
http://jlne.ws/JmWmF3

Malaysian Palm-Oil Refiners Urge Reform to Counter Indonesia
Bloomberg
Malaysia, the world’s second-largest palm-oil producer, needs to reform the industry’s tax structure to counter new rates in Indonesia that improved the competitiveness of refiners there, according to a trade group.
http://jlne.ws/MmbqJ6

First India Shale Gas Seen in 4 Years, China Output Nears
Bloomberg
Oil & Natural Gas Corp. (ONGC) of India and competitors may drill for at least four years before producing the first commercial shale gas in the nation as China expects to commence output next month and Australia boosts reserves.
http://jlne.ws/KcRZyf

Q. and A.: How to Save Bangladesh?
The New York Times
In just over a month, policy makers from around the world will meet in Rio de Janeiro for the United Nations Conference on Sustainable Development. The meeting has been called Rio+20, reflecting the two decades that have passed since a landmark conference on the environment and development was held in Rio in 1992. This time the main themes are energy, sustainable cities, food security, water shortages, the health of oceans, disaster readiness and assuring people a livelihood.
http://jlne.ws/JTPGkT

Africa/Middle East

First Solar Plans Middle East Office to Help Tap Regional Market
Bloomberg
First Solar Inc. (FSLR), the largest maker of thin-film solar panels, plans to open an office in the United Arab Emirates this year to tap growing demand for power in the Middle East.
http://jlne.ws/Mp4MBX

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