Spot News

- US pledges to make up for lost time in climate-change fight
Meeting with China and India to lay groundwork for UN deal (Reuters)

- Obama lays out $400m programme for cutting-edge energy research
Energy secretary to oversee Advanced Research Projects Agency-Energy (Platts)

- Analysis: Nuclear frisson in Europe’s energy sector
Fallout from Siemens’ and Areva’s split highlights problems with cross-border ventures (FT)

- Carbon trading volumes jump 37% in first quarter but fall in value
Companies selling carbon permits to raise short-term cash (FT)

- PetroChina first-quarter profit falls 35% after plunge in crude-oil prices
Chinese oil company says it faces “huge difficulties” in 2009 (Bloomberg)

- Abu Dhabi’s International Petroleum Investment Company gets credit rating for first time
State investment vehicle likely to become more active in capital markets

- Former head of $370bn Norwegian oil fund set to join RiskMetrics
Knut Kjaer to join in newly created position of president (FT)

- Opinion: Electric car subsidies do not serve green goals
Richard Pike questions if there are more cost-effective ways (FT)