Since the 1970s, fuel-economy improvements in U.S. âlight-dutyâ vehicles, with a contribution from rising gasoline prices, have saved 17bn tonnes of CO2, according to a new study reviewed by Josh Gabbatiss at Carbon Brief. That makes rising fuel efficiencyâs impact on emissions reductions second only to that of coal-to-gas. New cars, vans and light trucks get about twice as many miles to the gallon as 1975 models. The amount of gasoline therefore … [Read more...]
U.S. Presidential Election: for the first time, climate is a top priority
Another climate action âfirstâ this year will be the 2020 U.S. Presidential election. Never before has climate change featured as a top priority for American politicians and voters, says Arnault Barichella writing for the IFRI Centre for Energy & Climate. Itâs thanks to the growing evidence of human-caused global warming in collision with a current President who calls it all a hoax and has been rolling back the regulations of his predecessor. … [Read more...]
Green New Deal can learn from Obamaâs $90bn clean energy plan of 2009
The âGreen New Dealâ proposal is a 10-year plan to curb climate change by shifting the U.S. economy away from fossil fuels. Will it work? Yes (with caveats) if itâs anything like President Obamaâs 2009 American Recovery and Reinvestment Act: it invested $90bn to promote clean energy as part of an economic stimulus plan to recover from the bank crash. That's the view of Joseph Aldy, Associate Professor of Public Policy at Harvard Kennedy School, … [Read more...]
A grassroots fightback against Trump and U.S. Oil & Gas is underway
As the 116th Congress commences, in the wake of dire reports from climate scientists, the debate over U.S. climate policies has taken a welcome turn towards bold solutions. Capitol Hill is alive once again with policy proposals that edge towards the scale required to address the crisis weâre in. A new study by Kelly Trout of Oil Change International, along with 17 partner organisations, makes it clear that managing a rapid and equitable decline … [Read more...]
Low oil price alongside rise in renewables sees Oil & Gas slide to bottom of S&P 500
In December we reported that in 2018, the U.S. became the world's leading oil producer for the first time since the 1970s. It is tipped to produce 12 million barrels of oil per day this year (up approximately 10% year on year), and over two-thirds of it will come from shale producers. But the consequent squeeze on the oil price meant U.S. Oil & Gas firms ended the second year in a row at the bottom of the stock market. IEEFAâs director of … [Read more...]
The Saudi Dilemma: To Cut Or Not To CutÂ
Following November's G20 meeting in Buenos Aires and the ensuing OPEC meeting earlier this month, the Kingdom of Saudi Arabia is still left scratching its head. 90% of the Kingdom's income comes from Oil. As US shale keeps piling on the pressure, some argue they have enough in the bank to fund higher production levels and even lower prices for another 10-years. But their Vision 2030 initiative, to radically diversify their economy, also requires … [Read more...]
