Gas industry advocates argue that expansion of gas infrastructure is justified because it will be possible to switch to low-carbon gases such as hydrogen and biomethane in future. But research by the International Council on Clean Transportation (ICCT) predicts that biomethane production will remain modest, even with massive subsidies. … [Read more...]
Coal can’t compete – and its true costs are even higher than they appear
In Texas, income from electricity sales does not even cover the direct costs of coal power plants. But their hidden costs are much higher, explains Daniel Cohen of Rice University in Houston. Courtesy The Conversation. … [Read more...]
Taxing carbon may sound like a good idea but does it work?
Exxon Mobil is financing lobbying for a US plan to tax oil, gas and coal companies for the carbon they emit. But do carbon taxes work to reduce greenhouse gas emissions? The evidence is underwhelming and support for the proposal is not down to altruism, says Paul Griffin of the University of California, Davis. In his view, what would impact climate change is for energy companies to disclose their carbon risks and footprints. … [Read more...]
Coal’s cost increase leaves no cause for celebration
Coal’s carbon impact is clear from the fact that it produces 20% of electricity and 65% of EU power sector emissions. But even with EU coal prices at a five-year high, we are unlikely to see short-term European coal emissions reductions. Emissions Trading System prices would have to double to push coal out of the EU electricity mix, says Paul Deane of University College Cork's Environmental Research Institute. … [Read more...]
US shale has a glaring problem
With oil prices high and production booming, 2018 was supposed to be a year of profits for US shale oil and gas companies. A report from the Institute for Energy Economics and Financial Analysis (IEEFA) and the Sightline Institute shows that hasn’t happened. As 3Q 2018 results start coming in, investors around the world should be considering if there is a fundamental problem with the fracking business model, says Nick Cunningham of Oilprice.com. … [Read more...]
A blacklist of the world’s top 120 coal plant developers
Nearly 1,400 new coal power plant developments are planned or under construction in 59 countries that would add 33% to coal power capacity. But the risks of investing in such projects are growing, and many banks and investors are looking to move away from coal. To help them, non-governmental organisation Urgewald has created a database of the world’s top 120 coal plant developers, says Kathy Hipple of the Institute for Energy Economics and … [Read more...]
RWE’s lignite: between a rock and a hard place
The power giant RWE has faced fierce opposition to its plans for expanded lignite mining in Hambach forest, Germany. But as energy expert Gerard Wynn writes, a new report from the Institute for Energy Economics and Financial Analysis suggests there could be four more significant reasons for RWE to renounce its commitment to coal. Courtesy of Energy and Carbon. … [Read more...]
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