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The Geopolitics of Cheap Oil

             

THE WASHINGTON POST VIA GETTY IMAGES

huffingtonpost.com - by John Feffer - January 7, 2016

The market was supposed to save the planet.

That, at least, was the argument of many economists grappling with the problem of climate change. As fossil fuels became scarcer, they pointed out, the price of oil and natural gas would go up. And then other options, like solar and wind, would become cheaper, particularly as investment flowed into that sector and drove down the cost of new technologies.

And voila: The invisible hand would gradually turn down the global thermostat.

It’s a ridiculous argument.

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What Will it Take to Fix the Porter Ranch Leaking Gas Well?

                      

Southern California Gas Co. released these images of two ways it can potentially stop the Aliso Canyon gas leak by pumping fluid directly into the well or via a relief well. (Image courtesy of SoCalGas) 

dailynews.com - by Gregory J. Wilcox - December 19, 2015

The latest attempt by Southern California Gas Co. to kill its leaking well above Porter Ranch amounts to a deep shot in the dark.

All the repair crew has to do is hit a 7-inch target at the bottom of a shaft a mile and a half under Oat Mountain at the northern rim of the San Fernando Valley.

Undoubtedly, it’s a complicated situation, one industry expert said.

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China's Market Convulsions Threaten Petrostates from Russia to Venezuela

             

latinamericanpost.com - by Keith Johnson - August 29, 2015

The Chinese contagion that sparked “Black Monday” is especially worrisome for crude oil prices, which this summer were thought to have finally found a floor after a year of steady price declines. But that floor suddenly looks rotten: U.S. benchmark crude prices fell well below $40 a barrel on Monday, their lowest levels since the depths of the global financial crisis.

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Business Facilities: 2015 State Rankings Report

Posted by:  Albert Gomez

By Business Facilities Staff
from the July/August 2015 Issue annual-rankings-report

We’ve revamped our Metro and Global rankings this year to include some new technology oriented benchmarks. The new Metro category entries include Advanced Manufacturing (Specialization), Tech Jobs Leaders, Fastest Broadband and STEM Leaders. Our Global Rankings this year also include a new ranking for Leading ICT Hubs (European Cities).

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100% renewables by 2045 is now the law in Hawaii

Link to Article:  http://www.argusmedia.com/News/Article?id=1051970

Hawaii law sets target of 100pc renewables by 2045

 

9 Jun 2015, 2.15 pm GMT

Washington, 9 June (Argus) — Hawaii's governor David Ige (D) signed legislation making the island state the first in the US to set a mandate for all electricity to come from renewable resources.

The governor signed HB 623, which requires electric utilities to supply 100pc of their sales with renewables by 2045. The new renewable portfolio standard includes interim targets of 30pc by 2020, 40pc by 2030 and 70pc by 2040. HB 623 replaces a previous standard that called for 15pc by 2015, 25pc by 2020 and 40pc by 3030. The bill takes effect on 1 July.

Ige said the move to local sources of energy will help the state's economy, which relies on about $5bn/yr in oil imports. Fuel oil provides about 70pc of the state's electricity, according to the Energy Information Administration (EIA).

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Coal Crash: How Pension Funds Face Huge Risk From Climate Change

           

Coal is moved on a conveyor belt at the PT Bukit Asam open pit coal mine in Tanjung Enim, South Sumatra province, Indonesia. Photograph: Dadang Tri/Getty Images

Special report: The plummeting coal sector and a growing green divestment movement is leaving firms who still invest in fossil fuels and connected pension holders heavily exposed

theguardian.com - by Damian Carrington and Caelainn Barr - June 15, 2015

The pension funds of millions of people across the world, including teachers, public sector workers, health staff and academics in the UK and US, are heavily exposed to the plummeting coal sector, a Guardian analysis has revealed.

It has also found that just a dozen people, including the owner of Chelsea FC, Roman Abramovich, own coal reserves equivalent to the annual carbon emissions of China, the world’s biggest polluter. The UN, which advocates a shift to clean energy, has more than $100m (£65m) invested in coal through its own pension fund.

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Sheldon Whitehouse: Sue Fossil Fuel Companies For Climate Fraud

By Daniel Marans, 06/03/2015 4:16 pm EDT

Sen. Sheldon Whitehouse (D-R.I.) has a new plan to combat climate change: sue fossil fuel companies for fraud.

In a May 29 op-ed in The Washington Post, Whitehouse argued that the fossil fuel industry’s efforts to discredit climate science and attack environmentalists may constitute deliberate deception of the kind the tobacco industry perpetrated in previous decades. In 2006, a federal judge found the tobacco industry guilty of fraud in a civil lawsuit brought under the Racketeer Influenced and Corrupt Organizations Act (RICO). Cigarette companies' efforts to hide the health effects of tobacco consumption included lying about the findings of their own studies on smoking.

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Climate Change: Six Major Energy Companies Write to United Nations to Request Help in Setting Up Carbon Pricing Scheme

      

A carbon pricing scheme would involve a fee being charged to emit the greenhouse gas and the proceeds would probably go to companies that reduce them

independent.co.uk - by Ian Johnston - May 31, 2015

Six major energy companies have written to the United Nations asking for help in setting up a carbon pricing scheme to help tackle climate change.

BP, Royal Dutch Shell, Total, Statoil, Eni and the BG Group asked Christiana Figueres, executive secretary of the United Nations Framework Convention on Climate Change, to help them hold “direct dialogue with the UN and willing governments” about developing a scheme to charge those who produce carbon emissions. . . .

. . . The companies’ chief executives revealed the move in a letter to the Financial Times, which said: “We owe it to future generations to seek realistic, workable solutions to the challenge of providing more energy while tackling climate change.”

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Texas Governor Signs Law to Prohibit Local Oil Well Fracking Bans

      

Large hoses lead from one hydraulic fracking drill site to another as horses graze in a Midland, Texas field.
Photograph: Pat Sullivan/AP

reuters.com - by Anna Driver and Terry Wade - May 18, 2015

Texas Governor Greg Abbott on Monday signed a bill into law that prohibits cities and towns from banning an oil drilling practice known as hydraulic fracking, giving the state sole authority over oil and gas regulation.

Lawmakers in Texas, a state that is home to the two of the most productive U.S. shale oil fields, have been under pressure to halt an anti-fracking movement since November, when voters in the town of Denton voted to ban the oil and gas extraction technique.

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Five years later: Deepwater Horizon disaster leaves oil and dispersants lingering in the Gulf

The Deepwater Horizon rig explosion.

Image: The Deepwater Horizon rig explosion.

inhabitat.com - April 21th 2015 - Charley Cameron

As we mark the fifth anniversary of the explosion that rocked the Deepwater Horizon rig, claiming 11 lives and sparking a 87 day-long, 200-million-gallon oil spill in the Gulf of Mexico, studies continue to reveal the devastating impact of the oil—and dispersants used in clean up—on marine life. Recent reports show that the dispersants were more damaging to corals than the oil itself, and continue to diminish shellfish and sea turtle populations, while large questions loom over the ongoing unexplained deaths of dolphins along the Gulf Coast. And, as the NRDC points out, it will take years, if not decades longer to fully understand the effects of the disaster.

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