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EPA Finds Fracking Can Impact Drinking Water, Shifts Emphasis from Earlier Report to Focus on Risks

           

A high-pressure gas line spanning a canal in an oil field over the Monterey Shale formation near Lost Hills, Calif., in 2014. Credit David McNew/Getty Images

CLICK HERE - EPA's Study of Hydraulic Fracturing and Its Potential Impact on Drinking Water Resources

cnbc.com - by Robert Ferris | Tom DiChristopher - December 13, 2016

The Environmental Protection Agency's final report on a five-year study finds hydraulic fracturing can in fact contaminate drinking water in some cases.

The EPA's presentation of the final assessment marks a significant change in the way the report was initially presented in 2015. Energy companies seized on that presentation because it said the EPA found no "widespread, systemic impact" on drinking water supplies.

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CLICK HERE - EPA - Executive Summary, Hydraulic Fracturing Study - Final Assessment 2016

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Prepare for 'Surprise' as Global Warming Stokes Arctic Shifts - Scientists

           

The crew of the U.S. Coast Guard Cutter Healy, in the midst of their ICESCAPE mission, retrieves supplies in the Arctic Ocean in this July 12, 2011 NASA handout photo. Kathryn Hansen/NASA via REUTERS/File Photo

"Ultimately, realising resilience in the Arctic will depend on empowering the people of the North to self-organise"

CLICK HERE - Stockholm Resilience Centre - Dealing with Arctic tipping points

CLICK HERE - Arctic Resilience Report

Thomson Reuters Foundation - by Megan Rowling - November 25, 2016

Unless the world stops burning fossil fuels that are fuelling global warming, irreversible changes in the Arctic could have disastrous effects for the people that live there and for the rest of the planet, researchers warned on Friday.

The Arctic's ecosystems are fundamentally threatened by climate change and other human activities, such as oil and gas extraction, they said in a report for the Arctic Council, an inter-governmental forum working to protect the region's environment.

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Oil demand won't peak before 2040, despite Paris deal: IEA

An employee holds a gas pump at a petrol station in Sao Paulo, Brazil, November 8, 2016. REUTERS/Paulo Whitaker/File Photo

Image: An employee holds a gas pump at a petrol station in Sao Paulo, Brazil, November 8, 2016. REUTERS/Paulo Whitaker/File Photo

reuters.com - November 16th 2016 - Amanda Cooper

The International Energy Agency expects global oil consumption to peak no sooner than 2040, leaving its long-term forecasts for supply and demand unchanged despite the 2015 Paris Climate Change Agreement entering into force.

The Paris accord to cut harmful emissions seeks to wean the world economy off fossil fuels in the second half of the century in an effort to limit the rise in average world temperatures to "well below" 2 degrees Celsius (3.6 Fahrenheit) above pre-industrial times.

But while demand for oil to power passenger cars, for example, may drop, other sectors may offset this fall.

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Before the Flood

nationalgeographic.com - October 30, 2016

From Academy Award®-winning filmmaker Fisher Stevens and Academy Award®-winning actor, environmental activist and U.N. Messenger of Peace Leonardo DiCaprio, Before the Flood presents a riveting account of the dramatic changes now occurring around the world due to climate change, as well as the actions we as individuals and as a society can take to prevent the disruption of life on our planet.

CLICK HERE - National Geographic - Before the Flood

CLICK HERE - YouTube - Before the Flood

CLICK HERE - About the Film - Before the Flood

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The U.S. is On Course to Miss Its Emissions Goals, and One Reason is Methane

           

Chinese President Xi Jinping (center), President Obama (right) and U.N. Secretary General Ban Ki-moon shake hands during a joint ratification of the Paris climate change agreement ceremony ahead of the G20 Summit at the West Lake State Guest House in Hangzhou, China on Sept. 3. (EPA/How Hwee Young)

CLICK HERE - STUDY - Nature Climate Change - Assessment of the climate commitments and additional mitigation policies of the United States

washingtonpost.com - by Chris Mooney - September 26, 2016

In recent months, the key story of international climate policy has been about how quickly countries will join the Paris agreement and cross the legal threshold to bring it into force. And as of now, that seems very close to happening.

As soon as it does, though, the question will shift. People will start asking not about which countries will join the deal and how quickly, but about whether any of these countries are on track to do what they’ve already said they would under the agreement — namely, hit their voluntarily pledged targets to cut their emissions.

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Prosecutors Let Utility Out Of Massive Fine In Deadly California Gas Explosion

A plane spreads fire retardent on the San Bruno fire.

Image: A plane spreads fire retardent on the San Bruno fire.

huffingtonpost.com - August 2nd 2016 - Michael McLaughlin

Federal prosecutors quietly filed court papers Tuesday that may save a utility company from paying $562 million in fines for a pipeline explosion that killed eight people in 2010.

The stunning move, as a jury in a criminal case against Pacific Gas & Electric deliberated for a fourth day, means the company now faces a maximum federal fine of $6 million, instead of $562 million, if it is convicted in one of the worst disasters of its kind in history. The jury is considering 13 criminal charges stemming from the blowout and fire that destroyed 38 homes in suburban San Bruno.

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Energy weighs on Wall St. but Costco shines

reuters.com - July 7th 2016 - Marcus E. Howard

The S&P 500 and Dow industrials slipped on Thursday, weighed by energy shares, but gains in Costco and tech shares lifted the Nasdaq Composite.

The energy sector of the S&P was dragged lower by Exxon and Chevron as oil futures prices fell nearly 5 percent after crude stockpiles fell slightly less than forecast.

High-yielding sectors also pulled the S&P lower even as yields on long-term U.S. government debt remained near record lows.

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Texas Facing Massive Well Cleanup Costs After Oil Bust

           

Pump jacks sit idle on a South Texas ranch near Bigfoot. Deserted drilling wells are the relics of every oil bust, and Texas is pitted with more than any other place in the U.S.  Eric Gay/AP

dallasnews.com - by Chris Siron - The Associated Press - by Paul J. Weber - June 19, 2016

The worst oil bust since the 1980s is putting Texas and other oil producing states on the hook for thousands of newly abandoned drilling sites at a time when they have little money to plug wells and seal off environmental hazards.

In Texas alone, the roughly $165 million price tag of plugging nearly 10,000 abandoned wells is double the entire budget of the agency that regulates the industry.

The state's regulators want taxpayers to cover more of the clean-up, supplementing industry payments.

As U.S. rig counts plunge to historic lows, and with at least 60 oil producers declaring bankruptcy since 2014, energy-producing states are confronting holes in their budgets and potentially leaking ones in the ground.

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Regulators Fear $1 Billion Coal Cleanup Bill

           

An idled West Virginia coal facility. Officials fear bankrupt coal companies are not setting aside enough to clean up Appalachia’s polluted rivers and mountains. Credit Luke Sharrett for The New York Times

nytimes.com - by Michael Corkery - June 6, 2016

Regulators are wrangling with bankrupt coal companies to set aside enough money to clean up Appalachia’s polluted rivers and mountains so that taxpayers are not stuck with the $1 billion bill.

The regulators worry that coal companies will use the bankruptcy courts to pay off their debts to banks and hedge funds, while leaving behind some of their environmental cleanup obligations.

The industry asserts that its cleanup plans — which include turning defunct mines back into countryside — are comprehensive and well funded. But some officials say those plans could prove unrealistic and falter as demand for coal remains weak.

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Climate Change Will Wipe $2.5tn Off Global Financial Assets: Study

           

The economic impact of climate change could play havoc with the world economy, according to an LSE study. Photograph: Carlo Allegri/Reuters

CLICK HERE - STUDY - ‘Climate value at risk’ of global financial assets

Losses could soar to $24tn and wreck the global economy in worst case scenario, first economic modelling estimate suggests

theguardian.com - by Damian Carrington - April 4, 2016

Climate change could cut the value of the world’s financial assets by $2.5tn (£1.7tn), according to the first estimate from economic modelling.

In the worst case scenarios, often used by regulators to check the financial health of companies and economies, the losses could soar to $24tn, or 17% of the world’s assets, and wreck the global economy.

The research also showed the financial sense in taking action to keep climate change under the 2C danger limit agreed by the world’s nations. In this scenario, the value of financial assets would fall by $315bn less, even when the costs of cutting emissions are included.

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