Daily Archives: December 7, 2010

Fiona Harvey

Developing countries and some major emerging economies – chiefly China, but also including India and others – insist that the Kyoto treaty must continue beyond 2012, when most of its current provisions expire.

This issue of a “second commitment period” in the jargon – so-called because when the treaty was originally signed, it was envisaged that the signatories would meet their 2012 targets then set a new set of tougher targets, and keep doing so at intervals – is one of the trickiest in the talks.

Fiona Harvey

As ministers arrived in Cancun to join their officials, the star of the show so far was obvious: the Mexican hosts.

Praise has been heaped on the Mexicans for their skilful chairing of key meetings and the way they have managed to rebuild trust – especially among developing countries – after the acrimonious scenes that marred the final stages of the Copenhagen summit last year.

After trading between $70 and $80 a barrel for most of the past year, oil prices have surged to a two-year high above $90 a barrel on the back of strong demand in emerging countries and factors, such as cold weather in most of Europe. Banks say $100 a barrel is not a question of if, but when in 2011. And even traders in physical oil, mildly bearish until a fortnight ago, are turning bullish now.

But with the global economy still emerging from the worst economic crisis since the Great Depression, are rising oil prices likely to put the kiss of death on the recovery?

FT Energy Source

- France close to $9bn Indian nuclear deal – FT

- BP considering North Sea asset sale – Bloomberg

- Nuclear plants’ subsidies attacked – FT

- A crystal ball for electricity – NY Times Green blog

- EU to crack down on energy market insider trading – FT

- Republicans urge opening of Arctic refuge to drilling – NY Times Green blog

- Rio eyes Africa with Riversdale approach – FT

- Ukraine secures ‘partial guarantees’ of gas transit volumes – Argus

- Rio has emerged from its post-Alcan funk – FT Lex

- Who are Desire’s shareholders and what are they saying? – The Telegraph

- Centrica chairman to be CBI president – FT

Cancun news: day eight

- China buoys talks with ‘binding’ target – Reuters

- Optimism reigns at climate talks – Argus

- China, India, Brazil, press US for deeper emissions cuts – Bloomberg

- Richard Branson calls for global climate taxes – The Guardian

- Powerpoint diplomacy in an energy push – NY Times Dot Earth

- Summit won’t work without back-room deals – Michael Levi, The Guardian

Energy Source is no longer updated but it remains open as an archive.

Insight into the financial, economic and policy aspects of energy and the environment.

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