In this edition, The Economist weighs in on the ETS in this month’s magazine. Yale is out with a new report on the how the population links extreme weather and climate change. From the water space, the New York Times reports on
Safe Storage of Water? Go Underground.

Quote of the Day:

“We are two-year, long-term bullish on natural-gas markets because of those long-term trends.”

–ICE Chief Executive Jeffrey Sprecher on a conference call Wednesday after the company released earnings.

 

Lead Stories

IntercontinentalExchange Sees Global Pricing Fueling Trade in Gas Futures
The Wall Street Journal
The head of IntercontinentalExchange Inc. said efforts to develop global pricing benchmarks for natural gas would help drive a rebound in its own gas-futures market, which has struggled in recent months.
http://jlne.ws/103Ig3s

Learning from Europe’s carbon price crash: we need a carbon bank
The Conversation blog
The dramatic fall in Europe’s carbon price in April led to claims emissions trading had failed as a model for addressing climate change. While the low EU price is problematic for the EU and Australia (by virtue of our linkage with the EU), carbon pricing is still the most efficient tool to address climate change at the scale required.
http://jlne.ws/YnvWkc
**RKB — Contributor is Katherine Lake, Research Associate at the Centre for Resources, Energy and Environmental Law at University of Melbourne.

ETS, RIP?
The Economist
THE world’s largest carbon market has been holed below the water line. On April 16th the European Parliament voted to reject an attempt to bolster Europe’s flagship environmental programme, the Emissions Trading System (ETS). Carbon prices, already low, plunged. The emerging network of global carbon trading and European climate policy as a whole could sink.
http://jlne.ws/10WzNX8
**RKB — Editors repeat their belief that policy will shift to the national level.

Up, Up and Away! Scientists Anxious as CO2 Levels to Cross 400 PPM
InsideClimateNews.org
For the first time in human history, concentrations of carbon dioxide in the atmosphere are expected to pass 400 parts per million across much of the Northern Hemisphere in May, according to scientists who study data from the Mauna Loa Observatory, the world’s longest-running CO2 monitoring station.
http://jlne.ws/103CO0p

New Report
Extreme Weather and Climate Change in the American Mind April 2013
Yale Project on Climate Change
About two out of three Americans say weather in the U.S. has been worse over the past several years, up 12 percentage points since Spring 2012. By contrast, fewer Americans say weather has been getting better over the past several years – only one in ten (11%), down 16 points compared to a year ago.
http://jlne.ws/ZWPD1Z

Shell Bets Big on Natural Gas
The New York Times
As Big Oil increasingly becomes Big Gas, no major petroleum player may have more at stake in the shift than Royal Dutch Shell.
http://jlne.ws/11YrHc0

Coal exporters jostle for opportunity as Japan ramps up use
Reuters
Indonesian and Australian coal exporters are moving aggressively to fend off competition to meet Japan’s new-found appetite for the fuel to generate electricity while the country’s nuclear reactors remain offline after the Fukushima disaster.
http://jlne.ws/YfaDz9

Events

Navigating Our Water Future: A Course for Industry
Ecolab Chairman Doug Baker
Chicago
May 16
http://jlne.ws/16kYUDB

World Environmental & Water Resources Congress
Cincinnati, Ohio
May 19-23
http://jlne.ws/ZnwHsU

Carbon

Australia launches guidelines for second phase of Carbon Farming Initiative
Global Times
Australian government has launched its guidelines for the second phase of Extension and Outreach of the Carbon Farming Initiative (CFI), Minister for Agriculture, Fisheries and Forestry Joe Ludwig announced Wednesday.
http://jlne.ws/12otENo

More budget pain: $3bn carbon hole
Financial Review
The federal government is scrambling to find more than $3 billion of additional savings in the two weeks before the budget after Treasury halved the projected price of carbon when Australia links to the European scheme.
http://jlne.ws/18dzdo1

Microsoft Carbon Fee Funds Cambodian Community Forestry
Ecosystem Marketplace
Microsoft is directing some of the money from its “game-changing” internal carbon fee to fund international carbon offset projects.
http://jlne.ws/11DgRHN

Natural Gas/Coal/Alternative Fuels

The U.S. Has Much, Much More Gas and Oil Than We Thought
National Journal
The United States has double the amount of oil and three times the amount of natural gas than previously thought, stored deep under the states of North Dakota, South Dakota, and Montana, according to new data the Obama administration released Tuesday.
http://jlne.ws/104i2Pd

In Reversal, Neighbors Squeeze Russia’s Gazprom Over Natural-Gas Prices
The Wall Street Journal
When Bulgaria pressed Russia’s OAO Gazpromfor a discount on critical natural-gas supplies in 2009, the world’s largest gas producer refused to budge.
http://jlne.ws/18dx6QU

Biofuel Pioneer Forsakes Renewables to Make Gas-Fed Fuels
Bloomberg
Alan Shaw, the chemist and executive who led a six-year effort to turn inedible crops into fuels to displace gasoline, has renounced the industry he helped pioneer and decided the future instead lies with natural gas.
http://jlne.ws/10tgVrf

California Regulator Eyes Tracking of Fracking Chemicals
Bloomberg
California may set up its own system for tracking chemicals used in hydraulic fracturing by oil and natural gas producers, rather than depend on the current voluntary registry, the state’s energy industry regulator said.
http://jlne.ws/12Xdv4g

California Assembly panel OKs three measures to halt fracking for more study
The Sacramento Bee
In the latest sign of Democrats’ determination to rein in the disputed extraction process known as hydraulic fracturing, or fracking, a California Assembly committee has advanced three bills that would halt the practice in the state for the foreseeable future.
http://jlne.ws/Yf2sTn

Power

GE Wins Order for Three Wind Turbines With Storage Technology
Bloomberg
General Electric Co. (GE), the biggest U.S. supplier of wind turbines, will supply three systems that include battery storage to Invenergy LLC for a Texas wind farm.
http://jlne.ws/17yfdel

Tidal Energy Wins Welsh Government Grant to Test Device at Sea
Bloomberg
Tidal Energy Ltd., a U.K. maker of technology that uses ocean currents to generate electricity, received 1.6 million pounds ($2.5 million) from the Welsh government to test its device at sea.
http://jlne.ws/1313Lab

COLUMN-Need for energy storage offers hydropower revival: Wynn
Reuters
Hydropower offers an effective way to balance grids that increasingly have to cope with variable renewable energy supply, and this may end the long lull in hydroelectric projects caused by economic and planning hurdles in developed countries.
http://jlne.ws/ZAuvxs

UK energy regulator launches probe into efficiency failures
Reuters
British energy regulator Ofgem said it would launch an investigation into six of the country’s energy suppliers who it said had failed to meet all targets on providing consumers with efficiency measures.
http://jlne.ws/YfatYn

Water

Energy Makes Up Half of Desalination Plant Costs: Study
Bloomberg
Energy is the largest single expense for desalination plants, accounting for as much as half of the costs to make drinking water from the sea, according to a report.
http://jlne.ws/130WYgO

Safe Storage of Water? Go Underground
The New York Times
When cities store water for future use, they often use large lakes created by damming rivers.
http://jlne.ws/ZAv9uR

Reports

Extreme Weather and Climate Change in the American Mind April 2013 (Posted May 1, 2013)
Yale Project on Climate Change
http://jlne.ws/ZWPD1Z

Clearing the Air: Reducing Upstream Greenhouse Gas Emissions from U.S. Natural Gas Systems (Posted April 8, 2013)
World Resources Institute
http://jlne.ws/10M9Um3

The State of Green Business 2013 (Posted February 12, 2013)
GreenBiz.com
http://jlne.ws/12K3WYL

Can the US Get There from Here? (Posted February 6, 2013)
WRI
http://jlne.ws/X5PgyQ

The Billion Euro Aviation Bonanza – Aviation’s Participation in the EU ETS (Posted January 22, 2013)
http://jlne.ws/WHQez7

View all reports >

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