carbon bubble

How not to squander $130 trillion – a proposal to put carbon money in wealth funds

carbon pricing (photo The New Economy Magazine)

The proceeds from carbon pricing should be used to establish wealth funds from which current and future citizens can benefit, proposes energy and climate change economist Adam Whitmore. As all people have equal rights to the atmosphere, all should benefit from the use of this unique resource. … [Read more...]

Exclusive – Klaus Shäfer, CEO Uniper: “Security of supply is too important to leave to the market”

Klaus Schäfer-slider

The market on its own cannot be relied upon to deliver secure electricity and gas supplies, says Klaus Schäfer, CEO of Eon-spin-off Uniper, in an exclusive interview with Energy Post. According to Schäfer, it will become “dramatically more difficult” to balance the power market as the share of renewables increases. He also sees the gas market becoming “more and more complex” and argues policymakers should establish minimum requirements for gas … [Read more...]

The $200 billion fossil fuel subsidy you’ve never heard of

flood in the UK in 2007 (photo Shelly Jo)

In the United States, the official “social cost of carbon” (SCC) enters into many rules and regulations, such as fuel economy standards. According to Amir Jina, the SCC, which currently is calculated to be $36 per ton, shows that the U.S. fossil fuel sector gets $200 billion a year in hidden subsidies. The government should use the SCC to increase the carbon price, argues Jina, but the Trump administration is hardly inclined to do so. First … [Read more...]

China’s renewable energy revolution continues on its long march

7-1-red-song-in-Beijing-slider

In one year China added almost as much generation from renewable power as Germany’s total renewable energy generation, according to the end of January statistics for 2016 by the National Energy Administration of China and the China Electricity Council. Yet the country’s electricity supply still relies strongly on coal, notes Simon Göß of Berlin-based consultancy Energy Brainpool. … [Read more...]

Carbon Tracker: no growth for oil and coal from 2020, gas can flip-flop

carbon bubble protest (photo Susan Melkisethlan)

Falling costs of electric vehicle and solar technology could halt growth in global demand for oil and coal from 2020, finds a new report co-authored by the Grantham Institute at Imperial College London and the Carbon Tracker Initiative launched on Thursday. The future of natural gas is highly uncertain in this new scenario analysis. … [Read more...]

BP’s Energy Outlook: between forecasting and advocacy

BP views the future (photo BP)

BP’s new Energy Outlook predicts ever-growing demand for oil and gas, and rising emissions that would take the world well beyond 2°C of warming. According to Greg Muttitt, Senior Advisor at NGO Oil Change International, previous Outlooks do not provide much confidence in BP’s projections, but it clearly helps BP if decision-makers believe that’s what the future holds. It looks like the forecasting value of BP’s Outlook is undermined by its use as … [Read more...]

U.S. energy under Trump

Washington waits for the inauguration

Today’s presidential inauguration will trigger the biggest policy and regulatory shift for the US energy industry in at least ten years, writes Geoffrey Styles, Managing Director of independent US-based consultancy GSW Strategy Group. That’s how long it has been since energy policy was set by a Republican president and Congress. Donald Trump is a different kind of Republican, though, and his goal does not seem to be a return to scarcity and high … [Read more...]