In today’s edition, a first vote on the Keystone pipeline: it will take place on Wednesday at the Senate Energy and Natural Resources Committee. And also, instead of using pipelines, gas could be transported on rail in the U.S. Finally, some info on carbon: a reform of the EU market by 2017, more trading schemes in the offing in the U.S., and an offset deal about to be agreed upon between Japan and India.
Quote of the day
“I can only imagine the amount of pushback we’re going to have on transporting gas by rail. The discussion isn’t about safety and fact, it’s about fear.”
Chris Faulkner, Breitling Energy Corp CEO, in the Reuters’ story After oil, natural gas may be next on North American rails
Senate Panel sets vote on Keystone bill
Laura Baron-Lopez, The Hill
The Senate Energy and Natural Resources Committee will vote on legislation Wednesday that would approve the Keystone XL oil pipeline.
After oil, natural gas may be next on North American rails
Edward Mcallister, Reuters
As politicians debate the dangers of a massive increase in oil carried by rail in North America, railroads and energy producers are considering the same for natural gas.
Ukraine Faces Russian Gas Cutoff as Payment Talks Fail
Elena Mazneva, Volodymyr Verbyany and Ewa Krukowska, Bloomberg
Ukraine risks the cutoff of natural-gas supplies from Russia after overnight talks to resolve a pricing dispute between the two countries ended without a deal less than eight hours before a payment deadline.
Siemens, Mitsubishi to present Alstom offer on Monday – sources
German engineering group Siemens and Mitsubishi Heavy Industries are expected to present their joint move on France’s Alstom in Paris on Monday, challenging a formal offer from General Electric.
China’s Guangdong to auction 1.87 mln carbon permits on June 25
China’s biggest carbon market in the southern province of Guangdong will put an extra 1.87 million permits up for sale in an auction on June 25, marking the last chance for laggard firms to buy ahead of a compliance deadline set for next month.
U.N. climate talks fracture over future of carbon markets
Ben Garside, Reuters
The use of carbon markets to curb rising greenhouse gas emissions was dealt a blow on Sunday after two weeks of United Nations talks on designing and reforming the mechanisms ended in deadlock.
***LB: Also in this story “The stalemate gives investors little sign that there will be a pickup in demand under the Clean Development Mechanism (CDM), the U.N.’s current main carbon market which has seen activity dry up after funnelling over $400 billion into emission-cutting projects in developing countries over the past decade.”
EU to limit production of biofuels from food crops
EU energy ministers agreed to limit production of biofuels made from food crops on Friday, in response to criticism these stoke inflation and do more environmental harm than good.
***LB: Also in this story “Friday’s deal would set a 7% limit on the use of food-based biofuels in transport fuel. It must now be considered by the newly-elected European parliament.”
Germany backs EU carbon market reform by 2017
Ben Garside and Barbara Lewis, Reuters
The German government wants the EU’s carbon market reform plan to be implemented by 2017, four years earlier than the European Commission has proposed, Germany’s Environment Minister Barbara Hendricks said on Thursday.
US states consider carbon trading schemes
Barney Jopson and Ed Crooks, Financial Times
Officials in Washington state and Pennsylvania have told the Financial Times they are examining carbon trading programmes following the release last week of proposed state-by-state targets for emissions cuts.
***LB: Also in this story “The US already has two CO2 emissions trading schemes: the Regional Greenhouse Gas Initiative (RGGI), covering nine states in the northeast, and a programme in California.”
Japan, India near carbon offset deal -media
Japan plans to agree a carbon offset deal with India, Japanese media reported, citing unnamed government sources, potentially making the south Asian country the largest economy yet to sign up to cut greenhouse gas emissions under a Japanese scheme.
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
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
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
In charts: how a revenue neutral carbon tax creates jobs, grows the economy
John Abraham and Dana Nuccitelli, theguardian.com (blog)
A new study from REMI finds that a revenue neutral carbon tax could create 2.8 million jobs, increase GDP by $1.3 trillion.
Why the potential for a trillion-dollar ‘carbon bubble’ grows bigger every day
Chris Nelder, Smartplanet
The topic of stranded assets in the fossil fuel sector is all the rage in climate policy circles, as well it should be.
Brazil’s recent fight against deforestation has been a huge success
Brad Plumer, Vox
All eyes are on Brazil right now because of the World Cup. But there’s another Brazil story that deserves just as much attention — over the last decade, the country has made surprising strides in slowing the destruction of its rainforests.
EPA emissions limits? Brazil sees potential gains.
Stephen Kurczy, The Christian Science Monitor
While many US lawmakers are pulling out their hair over the White House’s newly proposed limits on state carbon emissions, the Brazilian state of Acre sees a green opportunity.
EPA delays compliance with renewable fuel standard
Tim Devaney, The Hill
Petroleum companies will get a breather from latest round of renewable fuel standard, as the Environmental Protection Agency (EPA) is once again delaying the deadline for compliance with the 2013 standards.
SGS shuts low-carbon project auditing business
International certification firm SGS said it will no longer provide auditing services for clean energy projects in developing countries seeking to earn carbon credits, citing concerns over costs and falling demand.
NASA to Launch First Satellite to Chart Levels of Carbon Dioxide in Atmosphere
Andrea Vittorio, Bloomberg
The National Aeronautics and Space Administration plans to launch July 1 its first satellite dedicated to measuring carbon dioxide levels in Earth’s atmosphere.
Natural gas/ Coal
Smaller, nimbler rival shows the way for monolith Coal India
Krishna N Das, Reuters
For a coal producer trying to navigate India’s complex federal structure, size matters. And the smaller the better.
Williams’s $6 Billion Access Midstream Deal Fueled by Fracking
Isaac Arnsdorf and Matthew Monks, Bloomberg
Williams Partners LP is proposing a merger with Access Midstream Partners LP after a $6 billion purchase that would create one of the biggest U.S. transporters of fuel at a time of increased natural-gas exploration.
EU slated for ‘cynical’ 113m euros shale gas subsidy
Environmentalists have bitterly condemned a new EU research fund which invites shale gas firms to apply for 113m euros (£90m) of subsidies, under a programme designed to encourage ‘competitive low carbon energy’.
Coal’s share of energy market at highest level since 1970
Terry Macalister, The Guardian
Coal has reached its highest market share of global energy consumption for more than 40 years, figures reveal, despite fears that its high carbon emissions make it a prime cause of climate change.
Germany investigates 5.1bn euros sale of RWE unit to Russian group
Stefan Wagstyl, Financial Times
Amid rising concern in the EU over energy security, the German government has launched a probe into the planned 5.1bn euros sale of oil and gas assets by energy group RWE to an investment company controlled by Russian oligarch Mikhail Fridman.
Modi’s Energy Pledge Tested as Back-Up Power Use Seen Rising
Debjit Chakraborty and Rajesh Kumar Singh, Bloomberg
To see the task new Indian Prime Minister Narendra Modi faces to fix the country’s electricity blackouts, look no further than the soaring share prices of companies that make back-up power generators.
Can an open-source Tesla Motors spur electric car growth?
Ellen Meyers, The Christian Science Monitor
Luxury electric carmaker Tesla Motors has opened up all of its patents to other automakers in an effort to advance electric vehicle technology.
***LB: Also in this story “BMW and Tesla Motors met to discuss the future of electric cars and charging stations.”
Beijing Enterprises Signs 11 Water Supply, Treatment Contracts
Beijing Enterprises Water Group Ltd., the biggest publicly traded water-treatment systems developer in China, signed contracts for 11 projects with a total design capacity of 839,000 metric tons a day.
Ian James, The Desert Sun
The biggest reservoir in the United States is dropping 1 foot each week. Lake Mead’s rapidly sinking water level is set to reach an all-time low in July, driven down by a 14-year drought that scientists say is one of the most severe to hit the Colorado River in more than 1,200 years.
What does Australian prime minister Tony Abbott really think about climate change?
Graham Readfearn, theguardian.com (blog)
Emerging from a meeting with US President Barack Obama, Australian Prime Minister Tony Abbott told reporters he took climate change “very seriously”.
Teen wants warnings on gas pumps
north shore news
Warning labels on gas nozzles may be what we need to dump the pump, according to one West Vancouver Collingwood School student. Emily Kelsall, 16, is trying to persuade West Vancouver council to mandate reminders of climate change be affixed to all gas station pumps.
UK nuclear body faces £200m damages claim from Energy Solutions
Gill Plimmer, Financial Times
Britain’s Nuclear Decommissioning Authority is facing a £200m damages claim from one of the bidders who lost out on a £7bn deal to clean up Britain’s oldest nuclear power plants.