In spite of the Paris Agreement, the fossil fuel industry is carrying on much as before, writes famous author and activist Bill McKibben, founder of NGO 350.org. This is partly because of the influence Big Oil has, but also because there are no legal grounds – from a climate perspective – on which to stop projects. However, notes McKibben, citizen groups are increasingly resisting projects at the local level. Courtsey Tomdispatch.com. … [Read more...]
Why the new Saudi oil policy is likely to succeed
Many observers have been surprised by the willingness of Saudi Arabia to let the oil price collapse. But according to geophysicist and former geoscientist at Shell, Jilles van den Beukel the policy of the Saudis makes perfect sense. What is more, it is likely to succeed. … [Read more...]
Connect North Sea oil and gas platforms to offshore wind farms to produce green gas
Abandoned oil and gas platforms in the North Sea can be profitably converted into production and storage units that convert electricity from offshore wind farms into hydrogen and synthetic gas. That’s the main finding of a new study carried out by the Dutch Energy Delta Institute (EDI). A positive business case can be made for this application if the gas can be sold to a dedicated niche market for green gas, e.g. the chemical industry or the … [Read more...]
Interview Christoph Frei, Secretary General World Energy Council: “The key message from Paris: be part of the innovation frontier”
The key message of the Paris Climate Agreement is that the energy sector should be part of the drive towards renewable energy and part of the “innovation frontier”, says Christoph Frei, Secretary-General of the World Energy Council, the largest global network in the energy business, with member committees in over 90 countries. “The long road from Paris is to build on the best technology, to develop and deploy innovation. If you are not on the … [Read more...]
Paris climate deal: not a simple end to fossil fuels
The historic agreement on climate change reached in Paris a week ago is not a simple death knell for fossil fuels. Rather, it puts renewed focus on carbon capture and storage, throws a gauntlet down to the transport sector, and raises formidable governance as well as cost challenges for developing and developed countries alike. This is in addition to necessitating changes to electricity market design and grid infrastructure to accommodate more … [Read more...]
Buying Vattenfall’s lignite business could be a risky bet
Vattenfall is currently looking for a buyer for its German lignite assets. However, any potential investor faces a high risk that they will find themselves forced to wind down the business before earning back their investment, write Julian Schwartzkopff and Sabrina Schulz of international environmental organisation E3G. In this article, a shortened version of their new report Vattenfall’s Lignite Business – a Risky Bet for Investors, they explain … [Read more...]
Twilight of the Gods of Oil
For most of the past 40 years OPEC, the association of Big Oil exporters, and the Big International Oil Companies  controlled our lives, but they have started on an inevitable decline, writes solar pioneer Peter F. Varadi. Competition from renewables and smaller players as well as tighter climate polices will make their business model obsolete. According to Varadi, their corporate culture makes it unlikely they will be able to adapt. … [Read more...]
Why the Paris climate deal is a win for energy companies
The historic climate deal signed in Paris on 12 December 2015 has been embraced by many campaigners as a turning point in the fight against climate change. But energy companies should also be rejoicing. The unanimously adopted agreement provides the certainty of a long-term goal with the flexibility of carbon markets, takes a significant step towards creating a global level playing field, and promises billions in new subsidies to drive business … [Read more...]
Paris emission cuts aren’t enough – we’ll have to put carbon back in the ground
With the Paris climate deal, the world has created the mother of all take-back schemes, writes Myles Allen, Professor of Geosystem Science at the University of Oxford. According to Allen, fossil fuel companies don’t necessarily have to stop producing CO2 – they just need to be required to ensure it doesn’t end up in the atmosphere. #takebackCO2 – start tweeting it now! Courtesy of The Conversation. … [Read more...]
What Paris means for the energy sector: start of a whole new clean economy
As the UN climate talks in Paris are nearing completion, the implications for the energy sector are becoming clear. The 186 national action plans that will form the basis of an agreement really amount to clean energy investment plans, observers say. “A whole new economy will be created.” What this means for fossil fuels is uncertain. Although the term decarbonisation has been replaced by a much vaguer “emissions neutrality”,  few believe that a 2 … [Read more...]
Carbon Tracker: fossil fuel companies risk wasting up to $2.2 trillion in the next decade
Carbon Tracker Initiative (CTI), the NGO that invented the concept of “stranded assets” (or “the carbon bubble”) has today published a new report warning that, as a result of climate policies, “no new coal will be needed, oil demand will peak around 2020 and growth in gas will disappoint industry expectations”. According to CTI, over $2 trillion of new and existing investment is in danger of being wasted over the coming decade if governments and … [Read more...]
What Paris is likely to deliver
Prospects look bright for the Paris Climate Summit. The sole fact that this year’s COP (Conference of the Parties) will start with the government leaders meeting instead of finishing with it, as was usual in the past, is promising, writes Rolf de Vos of Ecofys. According to De Vos, if the more than 80 world leaders who will gather in Paris, including Obama, Xi Jinping, Modi and Putin, will get the Summit off to a good start, the work of two … [Read more...]
Interview Hoesung Lee, new Chairman IPCC: “There is enormous value in carbon capture and storage”
The new chairman of the IPCC, Hoesung Lee, wants to interact more with the energy industry. “We are prepared to broaden our scope of collaboration”, he says, in an exclusive interview with World Energy Focus, the magazine of the World Energy Council produced by Energy Post. Lee says “industry, the energy sector in particular, needs to be part of the solution to climate change”. He sees “enormous value” in “large-scale” use of carbon capture and … [Read more...]
The great oil shake-out: how far will it go?
Low oil prices are shaking up the global oil industry. Will they stay low? For how long? And how low is low anyway? These are some of the crucial questions hanging over the global energy sector. We spoke to three experts and the IEA’s Executive Director Fatih Birol, who put the current market in perspective – and offer a view of the future. Some say we are in a fairly normal cycle. Others see fundamental changes coming.This article was first … [Read more...]
Why Paris will be a Peace Conference – before the wars begin
A failure to cap greenhouse gas emissions will not just bring on climate shocks, but also worldwide instability, insurrection, and resource wars, writes Michael T. Klare In this sense, COP21 in Paris should be considered not just a climate summit but a peace conference as well – one taking place before the wars begin. … [Read more...]
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