The oil and gas producers have made windfalls off the back of Russia’s invasion of Ukraine and the consequent spikes in prices. But the return of prices to normal levels is re-emphasising the flaw in their business model, explains Clark Williams-Derry at IEEFA. The cost of producing the fossil fuels can only go up: the low hanging fruit was picked long ago, and finding and extracting new deposits gets more and more expensive. So do labour costs. … [Read more...]
How new and better science is driving climate litigation
Delta Merner at the Union of Concerned Scientists makes her predictions for climate litigation in 2023. There will be much more, globally. The stand out observation is that new and better science is driving the evidence, impacting the litigants and the courts. That points at major changes to the litigation landscape. More granular geographical evidence allows local litigants to more accurately make a case for connecting emissions and pollutants … [Read more...]
East Mediterranean gas finds: EU energy bonanza or geopolitical headache?
Some of the world’s largest natural gas reserves have been discovered off Cyprus. One of the questions being addressed at this year's CERA Week is, could these massive finds (totalling more than 70 trillion cubic feet!) be the answer to any perceived over-dependency on Russian gas imports to the EU? Maybe, maybe not. Geopolitical tussles could scupper the realisation of these much-needed resources for Europe. Whilst the potential is there, it may … [Read more...]
A record year for big corporates buying renewable energy to run their operations
In the U.S. 2018 set a new record for total capacity of announced corporate renewable energy (RE) purchases. Facebook, AT&T, Walmart, ExxonMobil and Microsoft top the list. This unprecedented demand has been met with robust supply from renewable energy project developers as well as from utilities, which have demonstrated their willingness to work with these buyers in finding new solutions in the market. The Rocky Mountain Institute’s Lily … [Read more...]
