Daily Archives: February 15, 2011

Kiran Stacey

Another day, another complaint about the carbon floor price. This controversial policy has united an unlikely alliance of green campaigners and heavy industry in opposition.

Greens don’t like it because it benefits the nuclear industry, while manufacturers are disgruntled about having to pay more for electricity.

But Greenpeace and WWF had a legitimate claim that government policy was incoherent – on the one hand promising no subsidies to nuclear power but at the same time implementing a policy that could indeed earn such generators billions of pounds. The EEF, which represents manufacturers, on the other hand, is criticising the energy department for doing exactly what it intends to do: push up the cost of energy.

It’s been a long dirty fight, and it’s not over yet.

A judge in the rough-and-ready Ecuadorean border town of Lago Agrio may have ruled that Chevron should pay up to $8.6bn in damages for soil and water pollution and the creation of a local health service, but the cash will not be flowing anytime soon.

FT Energy Source

- Chevron faces $8.6bn damages bill – FT

- Chevron’s $17bn Ecuador judgement may be ‘unenforceable’ – Bloomberg

- Shell to boost investment in Brazil – The Telegraph

- EDF profit hit by provisions – WSJ (£)

- India clamps down on abuse of subsidised fuels – Argus

- John Wood restructures business – FT

- Deal gives GE a crown jewel of the oil industry – FT

- Wood Group earmarks $1.7bn for shareholders – The Telegraph

- Three is a magic number for Wood Group – FT Lombard

- Well hasn’t run dry just yet – The Times (£)

- Oil services companies are now in play – FT Lex

- BHP ‘offered to swap China info with US’ – The Times (£)

- Korea Resources bids for Australian coal group – FT

- China’s coal imports set new records – Argus

- Coal exporting plan in Northwest in dispute – NY Times

- Global solar power growth doubles in 2010 – Reuters

- Solar industry glare attracts tech groups – FT

- How energy firms spy on environmental activists – The Guardian

- Carbon trading: Into thin air – FT

- Obama budget preserves energy research – NY Times Green blog

- Energy assistance funds rely on out-of-date stats – WSJ (£)

- Osborne eyes tax rebate to boost green deal – FT

- Manufacturers urge rethink on carbon policy – FT

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