Summary

In today’s edition, everybody wants to address climate change, including some Republicans. Wall Street billionaire Tom Steyer wishes to “penalize” those who add to warming risk. In any case, only carbon emissions reduction will best fight climate change, a new study from the University of Chicago finds. 

Quote of the day

“We need to reward people whose behavior reduces climate risk and penalize people who add to it. If we can get this right, I think there’s no doubt that our economy is going to continue to do very well.”  

 Wall Street billionaire Tom Steyer, in the Watchdog.org’s story Tom Steyer wants to ‘penalize people’ who add to ‘climate risk’ 

Lead stories 

Tom Steyer wants to ‘penalize people’ who add to ‘climate risk’  
Yaël Ossowski, Watchdog.org
Speaking in New York City last week, Wall Street billionaire Tom Steyer laid clear his vision for penalizing people whose actions may contribute to climate change. 
http://jlne.ws/1vr8Fbv

Only Carbon Emissions Reduction Can Best Fight Climate Change — New Study
Reissa Su, International Business Times
A new study has found that only carbon emissions reductions present the best possible chance to address climate change. The findings of the study by University of Chicago climatologist Raymond Pierrehumbert suggested that unless the world does something to reduce carbon dioxide, nothing “is going to matter much for climate.” 
http://jlne.ws/1qMEnjn

Overselling the Costs, Benefits of Greenhouse Gas Regulations
Victoria Stilwell, Insurance Journal
The Environmental Protection Agency calls its carbon rules an economic winner that will deliver more than $10 in benefits for each dollar spent on compliance. 
http://jlne.ws/1iUFygE

Launch pad glitch delays liftoff of NASA carbon-hunting satellite
Iren Klotz, Reuters
The launch of an unmanned Delta 2 rocket from Vandenberg Air Force Base in California was called off less than a minute before liftoff on Tuesday when the pad’s water system failed, a live NASA Television broadcast showed.
http://jlne.ws/1sU65ik

Energy Sector Faces Attacks From Hackers in Russia
Nicole Perlrothj, New York Times
Russian hackers have been systematically targeting hundreds of Western oil and gas companies, as well as energy investment firms, according to private cybersecurity researchers. 
http://jlne.ws/1vr6PYb

EU top court rules Sweden’s EU renewables support is legal 
Nina Chestney, Reuters
Sweden’s renewable energy support scheme is compatible with European Union law, the EU’s top court ruled on Tuesday, in a judgment that means member states will avoid a radical overhaul of their renewable energy laws.
http://jlne.ws/1mge1qy

Whitman is looking for Republican allies in climate fight 
Herb Jackson, NorthJersey.com
Former Gov. Christie Whitman is convinced there are more Republicans like her who want the federal government to act, and act soon, to reduce the carbon emissions contributing to climate change.
http://jlne.ws/1k7iYMM

Events 

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

Former head of Barclays carbon trading launches advisory firm
Reuters
Louis Redshaw, the former head of carbon, coal and iron ore trading at Barclays investment bank, has launched a London-based advisory firm to help companies manage their risks stemming from carbon trading.
http://jlne.ws/1nZ4hfP

Will Gov. Chris Christie Re-embrace Cap & Trade in Wake of EPA Rule?
John H. Cushman Jr., InsideClimate News
Three years ago New Jersey’s governor peremptorily walked out on the Regional Greenhouse Gas Initiative, saying the novel cap-and-trade scheme for Northeast power plants wasn’t right for his state.
http://jlne.ws/1sSgfjz

Activists say California fighting pollution globally but not locally 
Evan Halper, Los Angeles Times  
In the Bay Area oil port city of Martinez, where a colossal Shell refinery has long tainted the air, the landmark California law that requires polluters to ease their carbon footprint seemed to some to promise new relief. 
http://jlne.ws/1oiEGkY

Industry groups stir opposition to a cap-and-trade expansion they say will lead to higher gas prices
David Siders, The Tribune 
In a conference call with oil industry analysts in late 2012, Mike Wirth, a Chevron Corp. executive, took stock of California’s greenhouse gas reduction policies and warned that the state’s plan to expand its controversial cap-and-trade program to vehicle fuels in 2015 would result in higher prices at the pump.
http://jlne.ws/1pQJw8L

Supreme Court won’t hear challenge to Calif. fuel standard
Laura Barron-Lopez, The Hill
The Supreme Court on Monday declined to hear a challenge from oil companies to a California law mandating fuel producers lower the amount of carbon pollution emitted from fuels in the state.
http://jlne.ws/1pQHMfH

The CarbonNeutral Company Voted Best Offset Retailer for Fourth Consecutive Year 
Press Release
The CarbonNeutral Company has been voted Best Offset Retailer for the fourth consecutive year, in a survey conducted by Environmental Finance. 
http://jlne.ws/1o03JHO

Palmer will axe carbon tax with conditions
The Australian
Clive Palmer’s party will support repeal of the carbon tax, but only if the Abbott government’s direct action plan is replaced by a globally-linked emissions trading scheme. 
http://jlne.ws/1lt11YO

Indonesia seeks US$5b in aid to hit target for reducing emissions
BT
Indonesia needs about US$5 billion in aid to hit its target for reducing emissions, according to the agency set up to protect rainforests and peatlands. 
http://jlne.ws/1o03n43  

Natural gas / coal 

Eni confirms interest in Turkmenistan offshore oil and gas
Reuters
Italian oil and gas group Eni confirmed on Tuesday its interest in growing its operations in offshore oil and gas exploration in Turkmenistan.
http://jlne.ws/1pGIBfu

UK GAS-Prompt prices edge higher on undersupplied system
Reuters
British prompt prices for wholesale natural gas edged higher on Tuesday morning as continued maintenance at a North Sea platform and lower gas exports from Norway led to an undersupplied system.
http://jlne.ws/1luTuZp

A Conduit for Russian Gas, Tangled in Europe’s Conflicts
Stanley Reed, New York Times
The port of Varna on the Bulgarian Black Sea coast was supposed to be the gateway for a major new pipeline, directly connecting Europe to Russia’s vast natural gas supplies. 
http://jlne.ws/1qtmJDH

Bumi Resources Gets Green Light for $682 Million Rights Issue
Yudith Ho and David Yong, Bloomberg
Shareholders passed a resolution in Jakarta late yesterday allowing the Indonesian coal miner to issue 32.2 billion new Series B shares at 250 rupiah apiece. 
http://jlne.ws/1mPHCq3

New York court rules towns can ban fracking
Laura Barron-Lopez, The Hill
The Albany Court of Appeals Monday ruled New York cities and towns can ban hydraulic fracturing within their borders.
http://jlne.ws/1sSe6UZ

Scotland shale gas and oil reserves ‘modest’ compared with England 
Fiona Harvey, Adam Vaughan and Severin Carrell, theguardian.com
Scotland boasts only “modest” reserves of shale gas and oil compared to England, and these may be difficult to access, according to a government-sponsored report on Monday that poured cold water on the idea of the country repeating its North Sea success through fracking for fossil fuels onshore.
http://jlne.ws/1vpbN82

UK tax take from oil and gas drops to decade low
Gavin Jackson, Financial Times
Government revenue from oil and gas has fallen to its lowest level in 10 years, according to figures released on Monday by HM Revenue & Customs.
http://jlne.ws/1o07gpB

China trust firm warns of possible default on wealth management product -report 
Reuters
A Chinese trust firm has warned that one of its high yield investment products may have trouble making payments on time, a state-owned newspaper reported on Tuesday, the latest possible default to hit the country’s shadow banking system. 
http://jlne.ws/1qMzp6q 
***LB: Also in this story “Investors told a product backed by loans to coal company at risk – state-owned paper”

Power 

Puerto Rico’s Default Plan May Spread Pain Beyond Utility
Michelle Kaske, Bloomberg
The U.S. municipal-bond market begins the week wondering whether the Puerto Rico Electric Power Authority, the commonwealth’s sole provider of electricity, will pay bondholders after lawmakers last week enacted debt-restructuring legislation. 
http://jlne.ws/1lN3Rwu

GE Said Near Brazil Wind-Turbine Deals for $604 Million
Christiana Sciaudone and Vanessa Dezem, Bloomberg
General Electric Co. plans to announce deals in coming weeks to sell wind turbines worth as much as 1.33 billion reais ($604 million) to Brazilian developer Casa dos Ventos, said two people involved in the negotiations.
http://jlne.ws/TK0r2r

UK seeks to avoid ‘energy crunch’ with 53GW of back-up power
Jessica Shankleman, BusinessGreen
The government has confirmed plans to buy more than 53GW of power from gas plants, energy storage and demand reduction schemes, through a back-up capacity market that is designed to keep the lights on.
http://jlne.ws/TK1lf9

UK’s pioneering low-carbon heating scheme helps just 79 households 
Josephine Moulds, theguardian.com
The much-delayed government scheme to encourage Britons to switch to low-carbon heating has helped just 79 homes install renewable heat technologies in the two months since it launched, it has emerged. 
http://jlne.ws/1qbApSe

Toshiba closes deal to build new UK reactors by 2024
Jessica Shankleman, BusinessGreen 
UK plans to drive investment in a new fleet of nuclear power stations took a step forward today after Toshiba and GDF Suez inked a deal to build three new reactors on the West Cumbria coast by 2024.
http://jlne.ws/V42Sxy

Obama: US to help Chile build massive solar plant
Laura Barron-Lopez, the Hill
President Obama said Monday that the U.S. would help construct a major solar power plant in Chile.
http://jlne.ws/V453RU

Bulgaria hikes electricity prices, cuts natural gas 
Reuters
Bulgaria raised electricity prices by an average of 2 percent on Tuesday aiming to keep politically sensitive costs at bay despite huge deficits in the Balkan country’s energy sector.
http://jlne.ws/1z4jG7h

African Development Bank Supports South African Solar Thermal Power Project With $142 Million Loan 
Mridul Chadha, Clean Technica
As the South African renewable energy project developers gear up to commission projects under the country’s landmark Renewable Energy Independent Power Producers program, financial support is pouring in from domestic commercial as well as international development banks. 
http://jlne.ws/1qtKcVa 

Clean tech 

Battersea Park to host London’s first electric Grand Prix
Will Nichols, BusinessGreen
London’s first all-electric Grand Prix will be held in Battersea Park, the organisers behind the Formula E racing series have revealed.
http://jlne.ws/1z4Lp86

Water

Dead Zone and Algae Forecasts for U.S. Waters
Circle of Blue
Computer models forecast a low-oxygen “dead zone” of average size for the Gulf of Mexico this summer and a slightly above-average fish-suffocation zone for the Chesapeake Bay, according to the National Oceanic and Atmospheric Administration. 
http://jlne.ws/1qKVhPy

Bordeaux eyes up new market opportunities from cleaner estuary
James Murray, BusinessGreen
It may be more famous for its wine than its seafood, but Bordeaux could be about to start harvesting oysters for the first time in over 20 years as long standing efforts to improve the biodiversity of the giant Gironde Estuary start to bear fruit.
http://jlne.ws/1qMDFCK

Miscellaneous

The human cost of China’s untold soil pollution problem 
He Guangwei for Chinaidalogue and Yale Environment360, part of the Guardian Environment Network, theguardian.com
When Zhang Junwei’s uncle died in February 2012, he was only 50. 
http://jlne.ws/1pQMeLn

 

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