Archive for December, 2016

More News and Commentary

Standing Rock Activists Eye Pipeline Finances

Sam Levin and Julia Carrie Wong for The Guardian: Indigenous activists are focussing on the Dakota Access pipeline’s finances before Donald Trump takes office in an effort to further strain the oil corporation and cause continuing delays that they hope could be disastrous for the project. After the Obama administration denied the company a key […]

December 30, 2016 Read More →

Trump’s EPA Director Could Impact Industry

Nolan Madden for the White Mountain Independent (Arizona): Throughout his campaign, president-elect Donald Trump’s popularity surged on a promise to overhaul environmental policies and restore the ailing U.S. mining industry, even as coal struggles to compete with renewable energy sources like wind and solar. With the announcement of Oklahoma Attorney General Scott Pruitt as the […]

December 30, 2016 Read More →

Black Snake Bleeding Out: How DAPL Is Duping Investors

Anthony Karefa Rogers-Wright for CommonDreams.org: After reaching a peak of over 1 million barrels in December 2014, the Bakken oil field has been in decline. In fact, per a report released by the Institute for Energy Economics and Financial Analysis (IEEFA) and the Sightline Institute last month, Bakken oil output has plunged 20 percent since last year, […]

December 23, 2016 Read More →

Offshore Oil Giant Statoil Wins Bid to Build U.S. Wind Farm

Katherine Tweed for GreenTech Media: Norwegian state-owned oil company Statoil is the winning bidder for the right to build a wind farm across nearly 80,000 acres off the coast of New York. The U.S. Department of the Interior’s Bureau of Ocean Energy Management’s auction was for an area approximately 12 miles off the west end […]

December 22, 2016 Read More →

U.S. Mountain States Are Shifting from Coal to Gas and Renewables

Tom DiChristopher for CNBC: The U.S. Mountain States are moving away from coal, even as President-elect Donald Trump vows to revive the embattled industry. Western states — a stronghold for coal consumption — are increasingly using natural gas and renewable energy for their electricity. The switch puts pressure on miners in Wyoming, the country’s biggest […]

December 22, 2016 Read More →

FirstEnergy Pushes Ahead With Plan for Ratepayers to Subsidize West Virginia Coal Plant

Andrew Brown for the Charleston (W.V.) Gazette: Shareholders for FirstEnergy saw the company lose $1.1 billion over a three-month period earlier this year, and executives with the coal-laden electric utility have announced that many of their power plants can’t keep up in competitive energy markets. So as the Akron-based company looks to stop the bleeding, […]

December 22, 2016 Read More →

Norway Pension Fund Expands Coal-Industry Divestment

Rachel Fixsen for Investment & Pensions Europe: The Norwegian Government Pension Fund Global (GPFG), the country’s NOK7.5trn (€830bn) sovereign wealth fund, has decided to exclude another 15 companies from its investments because of their coal business, bringing the total number it has shut out to 59. The exclusions follow Norges Bank Investment Management’s second round […]

December 22, 2016 Read More →

In Sunny Arizona, Regulators Crack Down on Rooftop Solar

Jeff Stanfield for SNL: Arizona regulators decided in a late-night vote to end net metering as a matter of policy for rooftop solar customers, ending a two-year-long proceeding for determining the value and cost of distributed generation. Over the objections of solar parties, the Arizona Corporation Commission voted 4-1 on Dec. 20 to lower the […]

December 22, 2016 Read More →
IEEFA Update: Wind Is Blowing Away Fossil-Generated Power in Middle America

IEEFA Update: Wind Is Blowing Away Fossil-Generated Power in Middle America

From Deep in the Heart of Texas to North Dakota, a Historic Shift in U.S. Electricity Production

Wind generation has grown by more than 11 million megawatt-hours (MWh) in just a year in the huge ERCOT market of Texas. The increase, which has driven wind’s share of generation to 48 million MWh in the first 11 months of 2016 from 36 million MWh in the first 11 months of 2015, has displaced […]

December 21, 2016 Read More →

IEEFA Update: More Weaknesses Seen in Companies Behind the Dakota Access Pipeline Project

A Proposed Sale Is Delayed, Developers’ Revenues Are Down, Credit Ratings Are Poor, and Cash Is in Short Supply

The closer one examines the financial position of the companies behind the Dakota Access Pipeline project, the weaker they look. We outlined some of the imminent deadline risk around the project in a report we published a few weeks ago (“The High-Risk Financing Behind the Dakota Access Pipeline”), noting how the developers are facing a […]

December 21, 2016 Read More →