Climate Change

Source: Oil Price

A critical mineral cartel would be worse than OPEC

Oil Price


In her State of the Union address this week, EC President Ursula von der Leyen made a point about the EU’s growing independence in sectors such as energy, chips, and raw materials.

 

The official stressed the importance …

Source: Oil Price

Global warming to exceed 2 degrees celsius limit by 2050: Exxon

Oil Price


The world is not on track to stop temperatures from rising by more than 2C by 2050, Exxon Mobil said on Monday in its Global Outlook, which also called for increased investments in oil and gas. According to …

Source: Reuters

Focus: Fertilizer company OCI bets big on climate-friendly ammonia

Nasdaq


Without a single sales contract in hand, Dutch fertilizer company OCI OCI.AS is building a $1 billion plant in Texas to produce ammonia with low greenhouse gas emissions, a gamble requiring heavy government subsidies, new markets and a contingency …

Source: Oil Price

Yale Study: ESG investing isn’t doing much for the environment

Oil Price


ESG or environmental, social and governance investing is facing troubles. Higher bond yields drove an astonishing £304m out of the sector in May. This largely reflects a natural market dynamic – investors are chasing higher returns by moving …

Source: BOE Report

Climate battle looms as Alberta premier Smith takes aim at Trudeau after election win

BOE Report


Alberta’s re-elect leader Danielle Smith has put herself on a collision course with Prime Minister Justin Trudeau over climate policies that would weigh on the province’s fossil fuel industry.

 

Smith, leader of the United Conservative Party (UCP), …

Source: Reuters

U.S. and Australia sign clean energy pact

Oil Price


The United States and Australia agreed this weekend on a clean energy manufacturing pact with a focus on the energy transition and emissions reduction.

 

The so-called Climate, Critical Minerals, and Clean Energy Transformation Compact establishes climate and …

Source: Reuters

Exxon rebuts proxy advisor, says net zero emissions scenario ‘unlikely’

Nasdaq


HOUSTON – Exxon Mobil Corp XOM.N has pushed back against investors pressing the largest U.S. oil producer to report on the risks to its business from restrictions on greenhouse gas emissions and potential environmental disasters.

In a reply on …

Source: Oil Price

U.S. unveils supply chain requirements for EV tax credits

Oil Price


The U.S. government has unveiled tighter rules on electric vehicle (EV) tax credits to curb the nation’s reliance on China’s EV battery supply chains.

 

As part of President Joe Biden’s push to make 50% of U.S. new

Source: Oil Price

The oil projects that environmentalists should support

Oil Price


Last month, energy consultancy Wood Mackenzie came out with a warning: the world was running out of oil, but not just any oil. It was running out of oil that can be extracted with a low carbon footprint. …

Source: CNBC

Why America’s outdated energy grid is a climate problem

CNBC


The network of transmission lines that carry electricity across the U.S. is old and not set up to meet the anticipated demand for clean energy sources like wind and solar.

 

Currently, electricity generation results in 32% of carbon

Source: Reuters

Alaska condemns restrictions on Alaskan oil drilling project by Biden administration

World Oil


(Bloomberg) – Alaska’s senators sharply condemned any potential Biden administration move to authorize ConocoPhillips’ $8 billion Willow oil project with restrictions so onerous it wouldn’t be viable, warning that would be seen as a rejection — and an …

Source: Oil Price

The U.S. will be dependent on oil for far more than a decade

Oil Price


During President Biden’s 2023 State of the Union Address, he relayed an anecdote that I believe explains his stance toward the oil and gas industry. At first, he stayed on script with his prepared remarks, claiming:

“You …

Source: Oil Price

Climate crisis tide turns for big oil

Oil Price


Constant accusations of knowing the effects of their products on the environment and lawsuits have become constant companions of oil companies in the last few years.

The successes that activists have had—such as Friends of the Earth’s court …

Source: BOE Report

Column: Energy should not be controversial; how did this happen? A look into the machine

BOE Report


Are you familiar with Sam Bankman-Fried, the crypto-whiz kid that started crypto-exchange FTX, the 30-year-old worth $30 billion, some were hailing as the new Warren Buffett?  His empire is now a pile of rubble, and against all legal …

February 7, 2023 - 10:00 am Climate Change, Closing Bell Story‎, Crude Oil News, Energy News
Source: Oil Price

The ESG hype is showing signs of fatigue

Oil Price


Earlier this month, Vanguard, the world’s largest asset manager, quit a net-zero banking alliance saying it wanted more independence and more clarity about its ESG commitments to investors.

 

Then, a week later, HSBC, the UK-based, developing world-focused …

Source: Reuters

BP invests millions in company that supplies ‘rapidly deployable’ solar tech

CNBC


BP said it is investing 20 million Australian dollars ($13.53 million) in Australian renewable company 5B, which specializes in solar technology.

 

The energy major said the investment in 5B — made via its subsidiary BP Ventures — wrapped …

Source: Reuters

U.S. grants $1.1 bln to keep Diablo Canyon nuclear plant open

Reuters


The Biden administration said on Monday it has approved conditional funding of up to $1.1 billion to prevent the closure of the Diablo Canyon nuclear power plant near Santa Barbara as part of the national effort to fight climate …

November 21, 2022 - 2:30 pm Climate Change, Closing Bell Story‎, Energy News, Nuclear
Source: World Oil

COP27 delegates agree to loss-and-damage fund for developing nations

Oil Price


After extensive discussions, the delegates at the COP27 summit agreed to set up a loss-and-damage fund to help emerging economies tackle the effects of climate change that have hit them disproportionately.

 

The agreement, although hailed as a …

November 21, 2022 - 11:30 am Climate Change, Closing Bell Story‎, Crude Oil News, Energy News
Source: World Oil

GOP plans to offer oil, gas and trees as climate fixes in next Congress

World Oil


(Bloomberg) — Republicans in Congress are dusting off past plans to address climate change as they prepare for the likely prospect they will win control of at least one chamber of Congress in the midterm elections next week. …

Source: Oil Price

Looming copper shortage could slow the global energy transition

Oil Price


The pace of the energy transition could be slowed by a looming shortage of copper, analysts and top copper producers say.

 

“There is going to be a very significant shortage in copper,” Richard Adkerson, chairman and CEO …

Source: Oil Price

BlackRock raises $4.5 billion for climate fund amid fossil fuel criticism

Oil Price


BlackRock said it had raised $4.5bn (£3.97bn) for a new climate infrastructure fund today as it looks to ramp up investment in the net zero transition amid criticism of its decision to continue backing oil and gas firms.…

Source: Reuters

Nord Stream rupture may mark biggest single methane release ever recorded – UN

US News


The ruptures on the Nord Stream natural gas pipeline system under the Baltic Sea has led to what is likely the biggest single release of climate-damaging methane ever recorded, the United Nations Environment Programme said on Friday.

 

Source: Reuters

Activist investor: shell must do more to curb emissions

Oil Price


An expected drop in Shell’s net greenhouse gas emissions is not aligned with the Paris Agreement and with a Dutch court order for the now UK-based supermajor to slash emissions much more by 2030, activist investor Follow This …

Source: Reuters

The U.S. oil executive making a big bet on combating climate change

Investing


Publisher’s Note- Talos Energy presented at EnerCom Denver last month. Click to view their replay.

The chief executive of a small U.S. oil company has jumped to the forefront of the energy industry’s greenhouse gas reduction efforts, recruiting high-profile …

Source: World Oil

Biden issues offshore drilling leases under climate mandate

World Oil


(Bloomberg) — The Biden administration on Wednesday issued oil and natural gas leases to companies that nabbed the Gulf of Mexico drilling rights in a government auction later invalidated by a federal court.

 

The Interior Department’s Bureau

September 14, 2022 - 11:30 am Climate Change, Crude Oil News, Energy News, Offshore
Source: Reuters

U.S. to spend more than $500 billion on climate over a decade under three laws, study says

US News


The U.S. government will spend more than $500 billion on climate technology and clean energy over the next decade under three recently enacted laws, an analysis by non-profit RMI found.

 

The tally is based on this month’s

Source: World Oil

Tech industry helps oil companies pump more, belying climate pledges

World Oil


(Bloomberg) — It’s been a blockbuster summer for major oil companies. Exxon Mobil Corp. and Chevron Corp. posted record profits thanks to surging energy prices. The new U.S. climate bill includes concessions to oil and gas companies.

 …

Source: World Oil

OEUK issues new guidance for oil and gas producers to reduce key greenhouse gas

World Oil


The leading trade body for the UK’s offshore energy industry, Offshore Energies UK (OEUK), launched new guidelines to help oil and gas companies reduce methane emissions from the production of oil and gas.

The guidelines come as OEUK …

Source: Reuters

U.S. Energy Dept eyes $165 mln investment in geothermal, oil and gas group

Nasdaq


The U.S. Department of Energy is planning up to a $165 million new investment in a geothermal power initiative that would utilize expertise from the oil and gas industry to unlock energy resources and move away from fossil fuels.…

Source: World Oil

Biden expected to announce executive action on climate Wednesday

World Oil


(Bloomberg) — President Joe Biden will announce executive action to address climate change Wednesday, as he continues to weigh a broader emergency declaration that would allow him to marshal sweeping powers against “global warming.”

The potential emergency order …