Monthly Archives: November 2010

Kiran Stacey

This morning, the mood music coming from Cancun was that China and America were working their way through the morass of obstacles to a meaningful agreement. A briefing yesterday by Jonathan Pershing (pictured), the head of the US delegation, and Su Wei, his Chinese counterpart, led to a host of positive headlines.

Reuters reported:

Washington claimed progress on Monday in easing rifts with Beijing on ways to fight global warming as U.N. climate talks got under way in Mexico with warnings about the rising costs of inaction.

“We have spent a lot of energy in the past month working on those issues where we disagree and trying to resolve them,” said Jonathan Pershing, heading the U.S. delegation at the talks in Cancun.

Kiran Stacey

Traditional integrated, multi-national oil companies are increasingly worried about the way in which nationalised (or part-nationalised) rivals are encroaching onto their natural territory.

One example is the way in which national oil companies (NOCs) are beginning to take an interest in upstream activities, and acquiring the kinds of technical expertise they used to rely on internationals (IOCs) to provide. Now we also know that the NOCs are outstripping the IOCs in capital spending, thanks to a new piece of research from Evaluate Energy.

According to the report, which surveyed over 50 NOCs and the top seven major IOCs, capital spending by NOCs has grown by 131 per cent from 2005 to 2009, while that by the IOCs has increased only 59 per cent in that time.

Fiona Harvey

Compromise, compromise, compromise – that is the watchword for the climate talks now going on in Cancun, according to the United Nations’ top climate change official, Christiana Figueres (pictured).

Her insistence was a clear reminder that the first objective of this year’s conference is to avoid scenes of the kind that marred the final days of last year’s summit in Copenhagen – when the debate degenerated into name-calling on the part of some countries, to the deep offence of many others.

It was impossible to predict yesterday whether her call for a constructive spirit would be heeded – on the first day, it’s easy for all the negotiators to wear winning smiles and to clap the anodyne speeches.

FT Energy Source

- BP to develop Canadian oil sands – FT

- Shell wins right to seek oil off Greenland – The Times (£)

- Billionaire Fredriksen bets $2bn on rigs after BP spill – Bloomberg

- China surges ahead on clean energy investment – FT

- Cairn forced to wait on India deal until February – The Times (£)

- Blunder reveals carbon trading data – FT

- NuGeneration consortium to build UK nuclear power plant – The Telegraph

- France aims to regain nuclear position – WSJ

- Oil and gas rise with cold snap – FT

- Link between gas and oil prices weakened by Gazprom settlement – No Hot Air

- Breaking away from coal – NY Times

- BP’s asset sales should spark other majors into similar action – FT Lex

- Lufthansa to start biofuel flights – Argus

Cancun news, day two

- Coal trends still dominate climate talks – NY Times Dot Earth

- US sees progress in easing climate row with China – Reuters

- US to keep emissions goal – Reuters

- UN considers putting mirrors in space – The Telegraph

- In search of the holy grail of climate change policy – Michael Jacobs, The Guardian

- Forget the climate convention, rethink innovation – Michael Schellenberger and Ted Norhaus, WSJ

- Why Cancun matters – Michael Levi

FT Energy Source

- Accord in danger of disintegration

- Financing: High stakes in low-carbon investments

- Energy use: Technology starts to take hold

- Water: World focus ‘needs to fall on agriculture’

- Resources: Alliances that lead to creative industrial symbiosis

- Science: Academics climb back into the ring of debate

- Fresh approaches: People power employed to detect patterns

- Geoengineering: Finding the formula to make world of difference

- Livestock: Meat eaters pose bigger threat than CO2 output

- Recycling: Goes a long way in the UK

- Adaptation: There is profit to be made from solutions

Fiona Harvey

So what is happening at Cancun?

Environment ministers and government officials from around the world are gathering in Mexico to talk about climate change, and how to tackle the problem of increasing greenhouse gas emissions.

Didn’t they do that last year?

Last year’s climate summit in Copenhagen produced a deal by which both developed and developing countries for the first time agreed to curbs on their greenhouse gas emissions, but that was not a full treaty.

Will a treaty be signed this year?

No – the Cancun meeting is a staging post on the way to a bigger meeting in South Africa next year, at which the United Nations is hoping a new pact will be signed.

FT Energy Source

- Disposal adds $7bn to BP’s oil spill fund – FT

- BP to commission film about oil spill – NY Times

- TNK-BP to unveil oil trading operation – FT

- Madagascar oil explorer moves to junior market – The Times (£)

- Nigerian oil-region fighting challenges president – Bloomberg

- EU energy targets require radical shake-up – FT

- China moving from oil to nuclear and renewables – WSJ

- UK to test smart grids in four areas – The Telegraph

- Carbon-price boost for green energy – FT

- Australia brings forward decision on carbon price – Reuters

Cancun news: day one

- Climate chiefs warn on what Cancun can – FT

- Q&A: What is happening at Cancun? – FT

- Climate talks seek to bridge rich-poor gap – Reuters

- Cancun: Last chance in thew ‘snake pit’ – The Telegraph

- China to take active role at climate talks – China Daily

- Cancun must be about more than climate changeWangari Maathai, The Guardian

- Stop talking and start taxing carbon – Clive Crook, FT

Kiran Stacey

As ministers, negotiators, NGOs and reporters prepare to jet off to Cancun for the annual UN climate talks,  five prominent delegates outline what they want to see from the next two weeks of talks.

Keep your eye on Energy Source throughout the Cancun summit for Fiona’s regular posts, plus thoughts from other delegates around the summit.

Are you going to Cancun? Comment below on what you want to see happen. And if you want to post for the FT on your experiences while there, let us know at energysource@ft.com.

Kiran Stacey

Sara Vaughan, image by Eon

In the first of a new series of readers’ Q&A sessions, Sara Vaughan, Eon UK’s head of energy policy and regulation, tackles the burning questions you wanted answering. Eon is Germany’s biggest power company and is heavily involved in the UK market.

In the second part of the session, Sara discusses the obstacles to building new nuclear plants, how the UK measures up on low-carbon technology and the limitations of a carbon floor price.

Next in the hotseat is Ditlev Engel, chief executive of Vestas, the world’s biggest manufacturer of wind turbines. Send in your questions by the end of Friday, November 26th for consideration, to energysource@ft.com.

But for now, over to Sara:

Kiran Stacey

Sara Vaughan, image by Eon

Sara Vaughan, image by Eon

In the first of a new series of readers’ Q&A sessions, Sara Vaughan, Eon UK’s head of energy policy and regulation, tackles the burning questions you wanted answering. Eon is Germany’s largest energy company and is heavily involved in the UK market.

In the first of two parts, Sara talks about why the changes to the carbon reduction commitment could be a good thing, how to reform the energy market and the future of carbon capture and storage.

In the second part, to be published later this morning, she will discuss the obstacles to building new nuclear plants, how the UK measures up on low-carbon technology and the limitations of a carbon floor price.

Next in the hotseat is Ditlev Engel, chief executive of Vestas, the world’s biggest manufacturer of wind turbines. Send in your questions by the end of Friday, November 26th for consideration, to energysource@ft.com.

But for now, over to Sara:

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