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IEEFA
Reuters: Russia’s largest oil producer Rosneft said on Tuesday that its board has approved new strategy through to 2030 with the aim of achieving net zero emissions by 2050, earlier than President Vladimir Putin’s deadline. Climate scientists have said the balance between the greenhouse gases we emit and those removed from the atmosphere must be […]
Simon Nicholas, Soroush Basirat and Press Release
Mature, cost-competitive recycling technology offers an immediate opportunity for emissions reductions
17 December (IEEFA Australia): Investors are increasingly pressuring global steel companies to set out credible decarbonisation plans and these demands will only intensify. A significant trend that will lower emissions will be the expansion of scrap steel recycling, says a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). “Steel recycling is […]
Clark Williams-Derry
Lack of middle ground in prices causes unhappy oil and gas companies, consumers
The price of oil has become a lot like the weather: If you don’t like it now, wait a minute. In the spring of 2020, oil markets went into a deep freeze, with the Covid-19 pandemic, a Saudi-Russia price war, and growing supply gluts pushing U.S. oil prices into negative territory for the first time. […]
Christina Ng
China’s taxonomy rejects LNG, gas and coal
It appears the EU is no longer going for gold. The executive vice president of the European Commission, Frans Timmermans, has signalled that after months of debate, the bloc is considering a role for ‘natural’ gas in the EU green taxonomy. This is despite the UN-backed Net-zero Asset Owner Alliance representing around EUR 9 trillion warning […]
IEEFA
Reuters: A fledgling international alliance to halt new oil and gas drilling added six members on Thursday during the U.N. climate conference but did not get the support of any major fossil fuel producers or the British government, host of the talks. The absence of more widespread backing reflects the difficulty of imposing blanket policies […]
Guest Contributor: Adrian Blundell-Wignall
From Glasgow, the U.S. and Europe must produce three critical fiscal developments to counter climate change
I was struck by the image of the G20 leaders tossing coins over their shoulders into the Trevi Fountain to make a wish. That pretty much sums up what members of that group will be left with – not least our own PM – if they don’t get moving on providing an adjustment mechanism to counter climate […]
Bruce Robertson
Methane emission reduction is vital to curb the worst effects of climate change
This week our friends and allies, the U.S. and European Union and partners, formally launched the Global Methane pledge, an initiative to reduce global methane emissions. In all, more than 100 countries representing 70% of the global economy and nearly half of anthropogenic methane emissions have now signed the pledge. The global methane pledge commits […]
Clark Williams-Derry
U.S. is exporting natural gas, and importing price volatility
As fall utility bills start hitting people’s mailboxes, more households will start feeling the pinch of higher natural gas prices. The wholesale price of U.S. gas has roughly tripled from last summer’s lows, and utilities are passing on rising costs to their customers. But it’s not just householders who will feel the pinch. Businesses are […]
Johanna Bowyer
Renewables should power economic recovery, not fossil fuels, so clean energy investment must ramp up urgently
As global leaders grapple with the planet’s future at the COP26 climate summit, coal, gas and oil prices are soaring around the world driven by rebounding energy demand post the pandemic, extreme weather events and planned and unplanned outages. More clean energy investment will insulate against this fossil fuel price volatility. Gas prices in Asia […]
IEEFA
Wall Street Journal ($): The world’s leading economies made no major progress on Sunday over how to cut greenhouse gas emissions, showing how difficult it will be to achieve a breakthrough at United Nations climate talks in Glasgow over the next two weeks. During a two-day summit in Rome, leaders of the Group of 20 […]
IEEFA U.S.: FERC gives blank check approval to pipeline builders, while investors and consumers pick up costs
Commission’s 21-year-old pipeline policy puts contracts ahead of utility customersDecember 17, 2020 (IEEFA) — The federal agency responsible for approving interstate gas pipeline projects is basing its decisions on contracts rather than on today’s consumer energy needs or the public interest, according to a report released today by the Institute for Energy Economics and Financial Analysis. The report—FERC’s Failure to Analyze Energy Market Forces—details […]