In today’s edition, reactions and analyses after the landmark ruling on Yukos. Aside from geopolitical events, initiatives taken by private companies, such as the agreement ironed out between Mercedes-Benz, Renault-Nissan and Ford to bring down the cost of fuel cell technology in production cars.
Quote of the day
“We entered our collaboration with Nissan and Ford to jointly develop a fuel cell system while reducing costs due to higher volumes. All three partners would use the same components as much as possible. That is why we are working toward the objective of 2017.”
Dr Herbert Kohler, Benz’s head of corporate research, in the Motoring.com.au’s story Fuel cell vehicle for the price of a hybrid
White House Report Presses Economic Case for Carbon Rule
Coral Davenport, The New York Times
Failing to adequately reduce the carbon pollution that contributes to climate change could cost the United States economy $150 billion a year, according to an analysis by the White House Council of Economic Advisers released on Tuesday.
Russia to appeal against $50bn Yukos shareholder payout
Russia will appeal against a international court ruling that it should pay $50bn (£29.5bn) in damages, the biggest compensation package ever.
Q&A: $50bn Yukos award against Russia
Kathrin Hille, Financial Times
Former Yukos shareholders have been awarded $50bn in damages against Russia in one of the biggest arbitration awards ever made against a sovereign state. What does the ruling mean for Russia and what are the broader implications?
Yukos ruling adds to Russia isolation
Neil Buckley, Peter Spiegel and Kathrin Hille, Financial Times
The Kremlin came under intense pressure on Monday after an international tribunal ordered Russia to pay $50bn damages to former shareholders of the Yukos oil company, as the EU and US prepared to ramp up sanctions over Moscow’s role in the Ukraine crisis.
A damning verdict in the Yukos case
Editorial, Financial Times
Few political acts in recent times have been quite as brazen as the Russian government’s dismemberment of Yukos a decade ago.
Timeline: The rise and fall of Yukos
Courtney Weaver, Financial Times
A decision by the Permanent Court of Arbitration in The Hague to award former shareholders of Yukos damages totalling $50bn is the latest in an extraordinary series of events that saw the oil company grow into Russia’s fastest growing oil company before falling into bankruptcy.
Fuel cell vehicle for the price of a hybrid
An agreement forged between Mercedes-Benz, Renault-Nissan and Ford will bring down the cost of fuel cell technology in production cars to about the same level as for hybrids within three years, Benz’s head of corporate research has told a German publication.
Japan’s Nuclear Roadmap To Economic Destruction
James Conca, Forbes
Japan better get used to generating all of its electricity from fossil fuel, and to having a permanent trade deficit, now that the country’s new nuclear regulatory agency is throwing its weight around to impress the public with a tough-on-nuclear stance.
Intelligent Energy Signs ‘Multi-Million’ Japan Fuel Cell Deal
Louise Downing, Bloomberg
Intelligent Energy Holdings Plc, a U.K. fuel-cell maker that works with Suzuki Motor Corp., signed a two-year “multi-million” pound agreement with a Japanese automotive company.
Inhofe blocks climate change resolution
Ramsey Cox, The Hill
Sen. James Inhofe (R-Okla.) blocked Senate Democrats on Monday from passing a resolution that would have acknowledged the reality of climate change.
Putting America’s Energy Leverage to Use
John Hoeven and John McCain, The Wall Street Journal
The violence on the border of Ukraine and Russia reached a horrendous level on July 17, when Russian-backed separatists shot down Malaysia Airlines Flight 17, killing 298 innocent men, women and children.
***LB: Also in this story “What can the U.S. do to help alleviate Europe’s reliance on Russian natural gas? We can start by passing the North Atlantic Energy Security Act, legislation we sponsored and introduced with Sens. Lisa Murkowski (R., Alaska) and John Barrasso (R., Wyo.) that will deploy our own natural resources to weaken the Putin regime and strengthen our allies in Ukraine and Europe.”
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
Global nuclear power contribution falls to lowest since 1980s
Aaron Sheldrick, Reuters
Atomic power’s share of global electricity supply is at the lowest level since the 1980s following the shutdown of Japan’s reactors after the Fukushima disaster, and may fall further without major new plant construction.
ACCC has companies’ carbon tax repeal savings in its sights
Paul Farrell, theguardian.com
Australia’s consumer watchdog will continue to monitor and investigate power suppliers and other entities to ensure savings from the repeal of the carbon tax are passed on to consumers.
Natural gas / coal
Fossil Fuel-Funded Groups Organizing Public Rallies Against New EPA Climate Rule
Jeff Spross, Climate Progress
Starting Tuesday, anyone who objects to new proposed federal regulations to cut carbon emissions from power plants can make their complaints public — and opponents of the rules are lining up to take a shot.
Fracking threatens Tory election hopes, Greenpeace warns
More than three quarters of seats targeted by the Conservatives have been opened up for fracking exploration, according to research by Greenpeace’s Energydesk site.
Greenpeace calls for halt to federal coal leasing
Timothy Cama, The Hill
A report released Monday by Greenpeace said that the environmental harm from the federal government’s coal leasing program dwarfs the fees that mining companies pay, and called for a moratorium on the leases.
German Utilities Bail Out Electric Grid at Wind’s Mercy
Julia Mengewein, Bloomberg
Germany’s push toward renewable energy is causing so many drops and surges from wind and solar power that the government is paying more utilities than ever to help stabilize the country’s electricity grid.
BMW unveils robot-powering solar array
It is not enough to have robots working on your production line, the world’s leading auto manufacturers now want those robots to be solar-powered.
GE ramps up wind energy investment with Indian development deal
Engineering giant GE has announced it is to invest an undisclosed sum in three wind farm projects in India, as part of its commitment to invest at least $1bn (£589m) annually in renewable energy capacity worldwide.
***LB: “the projects are expected to deliver 126MW of capacity and are expected to benefit from the Indian government’s feed-in tariff incentives, which are seeking to mobilise investment in new clean energy projects”
Tesla Motors Begins Deliveries In Hong Kong, But Hurdles Remain For Acceptance On Chinese Mainland
Angelo Young, International Business Times
After delivering a few models earlier this month, Tesla Motors Inc. has revved up its sales presence in Hong Kong, completing the right-hand-drive version of the Model S electric car.
***LB: Also in this story “Tesla currently has seven Supercharger stations in mainland China and two in Hong Kong”
California Lawmakers Prepare Final Push for Groundwater Regulation
Brett Walton, Circle of Blue
A group of water policy leaders and California lawmakers will publish draft groundwater legislation for public review this week, possibly by Tuesday.