The US Environmental Protection Agency has made its much-anticipated decision that greenhouse gases should be regulated under the Clean Air Act, which it enforces.
This is important for two reasons: it clears the way for regulation on carbon emissions, and it is also a formal declaration that carbon dioxide and five other greenhouse gases are endangering health and wellbeing. Read more
Bernstein Research have looked at the mergers and acquisitions undertaken by the oil majors in the last decade and have found that most of them failed to add the sort of value that shareholders appreciate.
Lead oil analyst Neil McMahon uses this anonymous quote to illustrate the problem (author’s emphasis): Read more
The Nano car – the small, cheap car being produced in India – is not generally regarded as the greenest of ideas. Though small, if taken up in large numbers the car will contribute to rapidly rising greenhouse gas emissions.
But Western liberal handwringing over the car for the masses can sometimes smack of hypocrisy – most people in the developed world rely on cars, so why shouldn’t poorer people in the developing world?
The car’s green credentials were stoutly defended recently by Shyam Saran, special envoy of the Indian prime minister for climate change. He insisted that the Nano was not, as critics have suggested, a scourge to the climate.
More importantly, he made clear the divisions between the developed and the developing world over the right of people in poor countries to increase their standard of living – even if it means raising greenhouse gas emissions. If it does mean raising greenhouse gas emissions, then rich countries will just have to reduce theirs by even more to compensate, his argument ran – after all, they have reaped the benefits for more than a century. Read more
Alaska’s efforts to drive interest in a natural gas pipeline to the rest of the US have been slowed by the triple hit to the industry from the economic downturn, plunging commodity prices and the credit squeeze.
It has had to push back to September a conference planned this month to urge the oil and gas industry to invest in the state’s large pool of natural gas as part of a broader effort to push forward a long-held plan for a $30bn pipeline to carry the energy to other states.
While the Alaska Natural Gas Tranportation Projects insists two competing proposals to build that massive pipeline, as well as in-state projects, are still on track, conference organisers recognised attendance would be hit. Read more
Energy news from elsewhere:
- EPA considers higher ethanol mix in US gasoline (WSJ) Read more
Energy news from the FT:
- Shareholders protest over BP pay packages
Anger over Sir Tom McKillop’s compensation Read more