Daily Archives: November 30, 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

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