Summary

In today’s edition, some investors turn to green companies, while others worry about the situation in Iraq and its impact on oil majors. More worries also about Ukraine, as discussions with Russia seem to be at a standstill, and about the EPA new rules: litigation could be on the way from states and companies alike, says Louisiana governor Bobby Jindal. 

Quote of the day

“There’s a very good chance of litigation not only initiated by the states, but the industry is another.”

Louisiana Gov. Bobby Jindal (R) in The Hill’s story Gov. Jindal: ‘Good chance’ of legal action against EPA

Lead stories 

Green managers stuff funds with Apple after environmental reforms
Ross Kerber, Reuters 
Apple Inc, criticized in the past for greenhouse gas emissions, use of toxic materials and the hiring of underage workers, has improved its practices and earned better scores from groups such as Greenpeace. That’s good news for environmentally-aware mutual funds that hold Apple for another big reason – it makes money.
http://jlne.ws/1q7kwLB

Dana Gas Investors Weigh Iraqi Turmoil Amid Kurdish Calm
Samuel Potter, Bloomberg 
Investors in Dana Gas PJSC (DANA)’s Islamic bonds are weighing how much credence to give company assurances that its Iraqi output is secure from the sectarian violence ripping through the nation.
http://jlne.ws/1lAEVrr
***LB: Also in this story “The company is a partner in two Iraqi gas fields, which accounted for 53 percent of its first-quarter revenue and are less than 100 miles from Kirkuk, where Kurdish forces are facing the breakaway al-Qaeda group Islamic State in Iraq and the Levant.”

Russia cuts off Ukraine gas supplies as European energy security concerns escalate
BusinessGreen
The scale of the threat to European energy security presented by the escalating tensions between Russia and Ukraine was underlined today, as Russia cut off gas supplies to its neighbour after a payment deadline lapsed.
http://jlne.ws/1pbyyvY 

Norway’s Statoil says could boost gas to EU, but cannot replace Russia
Reuters
Norway’s Statoil could increase gas supplies to the European Union but would not be able to replace Russian gas, CEO Helge Lund said on Tuesday, a day after Moscow cut off supplies to Ukraine over a price dispute.
http://jlne.ws/1lMQw6Z

White House wants EU, Russia gas talks to continue
Justin Sink, The Hill
The E.U. and Russia should continue failed talks over natural gas deliveries to Ukraine, the White House said Monday, amid reports that Russian state-owned gas giant Gazprom had suspended service over a pricing dispute.
http://jlne.ws/1pbI2Wa

Gov. Jindal: ‘Good chance’ of legal action against EPA
Laura Barron-Lopez, The Hill
Louisiana Gov. Bobby Jindal (R) said Monday that there is a “good chance” states will pursue litigation against the Obama administration’s new proposal to cut carbon pollution from power plants.
http://jlne.ws/1nhBRPb

Focus on Power Plant Rule’s Health Benefits Could Build Wider Support Among Public 
Andrea Vittorio, Bloomberg  
The Obama administration’s emphasis on the public health benefits of its first-ever greenhouse gas emissions standards for existing power plants may help make climate change resonate with more Americans—which could build support for the controversial rule.
http://jlne.ws/1pDVplL

Climate change will ‘cost world far more than estimated’
Tom Bawden, The Independent
Lord Stern, the world’s most authoritative climate economist, has issued a stark warning that the financial damage caused by global warming will be considerably greater than current models predict. 
http://jlne.ws/1nM4jur

Clinton says she can’t talk about Keystone
Laura Barron-Lopez, The Hill
Former Secretary of State Hillary Clinton is refusing to take a position on the controversial Keystone XL pipeline while arguing that America’s relationship with Canada is more important than any one project. 
http://jlne.ws/U5iwIP

Obama to order ocean protections with executive powers, Kerry says 
Suzanne Goldenberg, theguardian.com
The US secretary of state, John Kerry, says saving the world’s oceans was a vital security issue, and has urged leaders at an international summit to take immediate action on overfishing and pollution. 
http://jlne.ws/1pbJoSH

Events

Environmental Bonds 2014 
Now in its 4th year, Environmental Finance’s Environmental Bonds conference will examine the challenges facing the environmental bond market as it matures and the opportunities available for investors, issuers, bankers, corporates and others. 
23 June 2014 
London, UK 
http://jlne.ws/1hiBAxm

EMA’s 18th Annual Meeting 
Join the Environmental Markets Association and environmental industry professional for two days of dynamic sessions, two nights of networking receptions, and countless opportunities to increase your business contacts. 
October 22 – 24, 2014
Santa Monica, CA
http://jlne.ws/1qaR5eE

FT European Gas Summit 
The FT European Gas Summit brings together leading and aspiring gas suppliers from around the globe, as well as energy industry experts, commentators and government decision makers to review the potential barriers to new gas supplies for Europe, and the impact on the region’s economic competitiveness. The summit will be chaired by Guy Chazan, Energy Editor, Financial Times. 
23 October 2014 
London, UK 
http://jlne.ws/1n34Gif 

Carbon

Column-Shades of Carter in Xi’s China energy revolution
Clyde Russell, Reuters
Are there echoes of former U.S. President Jimmy Carter in the call by Chinese President Xi Jinping for a revolution in the way China produces and consumes energy. 
http://jlne.ws/1lwbgLp

Could coffee perk up the biofuels sector?
James Murray, BusinessGreen
Could you run your car on coffee? That is the question that researchers at the University of Bath believe they have answered in the affirmative, after revealing how a usable biodiesel could be extracted from old coffee grinds. 
http://jlne.ws/T3cS8Y

Natural gas / Coal

BP to sign $20 bln LNG supply deal with China’s CNOOC
Reuters
Oil major BP will sign a deal worth around $20 billion later on Tuesday to supply China National Offshore Oil Corporation (CNOOC) with liquefied natural gas (LNG), BP Chief Executive Bob Dudley said at a conference in Moscow.
http://jlne.ws/1jvNHTb

Buru Energy allowed to frack for gas in Kimberley without EPA assessment 
Australian Associated Press
The West Australian government has decided to allow Buru Energy to frack for gas in the Kimberley region without an Environmental Protection Authority (EPA) assessment. 
http://jlne.ws/SPDbPJ

Shell to sell most of stake in Australia’s Woodside for $5.7 bln
Sonali Paul, Reuters
Royal Dutch Shell launched a long-anticipated sale of most of its stake in Australia’s Woodside Petroleum Ltd on Tuesday, looking to reap about $5.7 billion as it moves to focus on developing its own gas assets in Australia.
http://jlne.ws/1kZIyaJ

Heatwave boosts India coal imports -research firm
Krishna N. Das, Reuters
Indian coal imports climbed 12 percent in May from the year before, provisional data from research firm OreTeam showed, with power companies scrambling to meet demand as scorching weather drove customers to crank up fans or air conditioning. 
http://jlne.ws/1r05rLx

Australia delays decision on Adani’s $15 bln coal project
Reuters
India’s Adani Enterprises Ltd faces a new delay on a planned coal mine in Australia, amid worries that a port expansion to accommodate the project could hurt the World Heritage-listed Great Barrier Reef.
http://jlne.ws/T3Cu5K

Power

Manchin: Don’t renew wind tax credit
Timothy Cama, The Hill
After more than two decades of helping the industry grow, the federal government should stop subsidizing wind energy through the production tax credit, Sen. Joe Manchin (D-W.Va.) said.
http://jlne.ws/1lMlbBm

Facing Change, Utilities Change Course
Richard Martin , Forbes 
Minutes after details of the proposed new U.S. Environmental Protection Agency (EPA) regulations on emissions from power plants were released the coal industry made its reaction clear.
http://jlne.ws/SPRtQs

IRENA inks partnership to help boost Asian off-grid renewables investment
BusinessGreen 
The International Renewable Energy Agency (IRENA) has this week announced a new partnership with the Asian Development Bank to help accelerate the deployment of off-grid renewable energy projects across the continent. 
http://jlne.ws/1ycri7l

Nova Innovation bags £3.75m for Scottish tidal energy array
BusinessGreen
Developers behind the world’s first community-owned tidal turbine have secured £3.75m to build a 500kW tidal array off the coast of Shetland.
http://jlne.ws/1kZxeew

Clean Tech

Nissan ZEOD RC sets electric car speed record at Le Mans
BusinessGreen
The image of electric cars as under-powered alternatives to their petrol-fuelled predecessors could soon be consigned to history, after Nissan’s latest plug-in hybrid prototype last weekend set a new speed record for an electric vehicle at Le Mans. 
http://jlne.ws/1luyOGo

Water

A Legacy of Water Contaminated by Energy Development in the Northern Great Plains
Circle of Blue
Inadequate waste disposal practices from more than a century of oil and gas development — practices that are no longer permitted — are the chief source of salty brines in the waters of the Williston Basin, according to U.S. Geological Survey research. 
http://jlne.ws/1ycsXKb

Discovery of Huge Amounts of Water in Earth’s Mantle 
Circle of Blue
There are likely huge amounts of water—as much as three times the amount in the oceans—contained in a layer of minerals within the Earth’s mantle, nearly 400 miles underground, according to a new study published in the journal Science, NPR reported. 
http://jlne.ws/1pbGGe4 
***LB: Also in this story “The water is in a mineral form called ringwoodite, and could tell researchers about the origin of Earth’s water.”

Miscellaneous

Buffett inspires G2’s direct investments 
Stephen Foley, Financial Times 
It was doing the maths on Warren Buffett that made Todd Morley believe traditional private equity funds and hedge funds might be in trouble. 
http://jlne.ws/SPB1iY 
***LB: Also in this story “The well-connected co-founder of investment group Guggenheim Partners, has been building up his new venture, G2 Investment Group, in recent months with partnership deals in Californian real estate and Canadian oil and gas – based on the theory that sophisticated investors want direct ownership stakes in these assets rather than pooling their money in high-fee funds.”

Op-Ed: How the insurance industry sees climate change 
Eugene Linden, Los Angeles Times
Twenty years ago, I interviewed Frank Nutter, then and now president of the Reinsurance Assn. of America, on the threat climate change posed to the $2-trillion-plus global property and casualty insurance industry.
http://jlne.ws/1ozw0tW

Green Space So Exclusive It’s Off Limits Even to Residents 
New York Times 
Deborah Nevins is one of the most sought-after landscape designers in the world. She has seeded and sodded estates for the likes of the entertainment mogul David Geffen, the Greek shipping magnate Stavros Niarchos and the media tycoon Rupert Murdoch, and her haute habitats dot townhouse backyards and prewar rooftops from Greenwich Village to Park Avenue.
http://jlne.ws/1qZDVxT

 

 

 

 

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