Effective today, The ROBERT|CHARLESGroup is discontinuing our postings and links to content and news for investing in worldwide cap and trade and sustainable energy markets. This blog will be phased out in the coming days and weeks.
It's a life measured out in 18-hour shifts and washed down with 5-hour Energy Drinks and Red Bull, a job on the rigs in North Dakota's oil boom: three weeks on, two weeks off, in exchange for $100,000 or more a year and the promise of being set up for life. In an America where 18m are out of work, the chance of finding any job – let alone a well-paid job – exerts an irresistible force that is drawing thousands to North Dakota in a 21st century re-enactment of the Gold Rush. Only this time, it's oil. North Dakota now produces more oil than several members of Opec, and many in the industry are predicting America will soon overtake Saudi Arabia and even Russia as the world's top oil producer.
Thousands of companies have developed greenhouse gas (GHG) inventories in recent years as a crucial first step towards measuring and ultimately reducing their emissions. Agricultural emissions are a large part of many of those inventories: Farming is currently responsible for between 10 and 12 percent of global GHG emissions. Globally, agricultural emissions are expected to increase by more than 50 percent by 2030, according to the U.N. Intergovernmental Panel on Climate Change (IPCC).
The Department of Energy would continue to be barred from enforcing new energy efficiency standards for incandescent light bulbs under a planned House amendment that pits bulb manufacturers against the tea party movement. The amendment, which Rep. Michael Burgess (R-Texas) has vowed to introduce to an upcoming appropriations bill, would prohibit funding to enforce standards that require the 100-watt light bulb, and eventually other bulbs, to be about 30 percent more efficient.
The Asian Development Bank (ADB) has raised the equivalent of $339 million from its second sale of clean energy bonds, the proceeds of which will be directed to renewable energy and energy efficiency projects. “Asia needs to meet its growing energy needs in ways that don’t pollute the air we breathe or water we drink and, to do that, there needs to be more investment in clean energy projects,” said Mikio Kashiwagi, ADB Treasurer. “The Clean Energy Bonds provide a way for investors to direct funding to clean energy projects.”
Saudi Arabia is not known for thinking small. So when the oil-rich Kingdom announced a new initiative to expand the production of renewable energy, it laid out plans for what could become the most sweeping renewable energy undertaking in the world. The King Abdullah City for Atomic and Renewable Energy (KACARE) will begin implementation of the Kingdom's solar energy strategy this year, with the goal to save up to 520,000 barrels of oil per day by 2032.
EON AG, Germany’s largest utility, sold a network of natural-gas pipelines in the country to a group led by Macquarie Group Ltd. (MQG) for 3.2 billion euros ($4 billion), shoring up its funds as nuclear earnings decline. The price for Open Grid Europe, Germany’s biggest gas- transmission system, includes adjustments for pensions and other assets, Dusseldorf-based EON said in an e-mailed statement today. The buyers also include a fund of German reinsurer Munich Re, the Abu Dhabi Investment Authority’s Infinity Investments and British Columbia Investment Management Corp., EON said.
Indian and Chinese airlines failed to submit carbon-dioxide emissions data for 2011, “disregarding European rules that seek to expand the region’s emissions trading system to include aviation,” Bloomberg News reports. There has been “systematic non-reporting” of emissions to and from Europe from 10 airlines based in India and China, the European Commission said Tuesday in a statement on its Web site. The European Union expanded its Emissions Trading Scheme in January to include airlines, Bloomberg reports.
The European Commission has given Estonia, Lithuania and Cyprus the green light to give their power and heat companies a total of 35 million free CO2 permits from 2013 to 2019, the 27-nation bloc’s executive said on Wednesday.
Consideration of carbon pricing and trading, a market-based (not regulation-based) approach to addressing global warming, may still be outlawed by GOP leadership in Congress, but countries around the world (and even several US states) keep moving forward with planned or existing carbon pricing and trading programs. Below is some of the latest news from this arena.
Oil and RBOB prices plummet as the market is not convinced that the EU can keep Greece in the zone and stop the contagion from spreading, despite the meeting of the minds between German Chancellor Angela Merkel and new French president Francois Hollande. Even Christine Lagarde, the managing director of the International Monetary Fund, is acknowledging that a Greek exit is possible and will be messy. With safe haven seekers running to the dollar and bonds, and a lowered risk of war from Iran, oil prices and gas prices are getting hit.
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