Reuters OSLO – Norway’s top court began to hear arguments on Wednesday on the legality of awarding offshore oil licenses in the Arctic, in a landmark case that could stop the industry’s expansion. The lawsuit, led by environmental groups Greenpeace Norway and Nature and Youth, is part of an emerging branch of law worldwide where plaintiffs seek to use a
CNBC President Donald Trump will move to weaken more environmental regulations on industries if reelected in November, while work to complete Superfund cleanup projects, according to Environmental Protection Agency administrator Andrew Wheeler. The Trump administration in a second term would establish a cost-benefit analysis of any new regulation and expand the use of “science transparency” in order to justify the science behind implementing new
Houston Chronicle Everyone from environmentalists to investors is beating up on fossil fuels, and American energy giants Exxon Mobil Corp. and Chevron Corp. are taking increasingly diverging approaches as they try to weather the storm. The problem is, neither strategy is working right now. Exxon is using the downturn in oil, gas and chemical prices as an opportunity to unleash
Reuters The European Investment Bank said on Thursday it would stop funding fossil fuel projects at the end of 2021, in a landmark decision. The bank’s new energy lending policy, which was approved with “overwhelming” support, will bar most fossil fuel projects, including traditional use of natural gas, bank vice president, Andrew McDowell told reporters in a call. “This is
From CNBC Gas has an important role to play in the global energy transition, according to the head of EMEA natural resources research at Goldman Sachs. Speaking to CNBC Friday, Michele Della Vigna said that, in his personal view, gas was “part of the end solution.” According to the International Energy Agency, natural gas supplies 22% of energy used globally.
From Bloomberg Businessweek By Mathew Carr The top 10 energy companies are planning investments approaching $1 trillion by 2030, in everything from finding and tapping new fields to equipment ranging from drones to drilling rigs. If the oil and gas business rolls along as it has for the past century, those projects will likely pay off in fat profits for
From The Hill The Senate confirmed President Trump’s pick for a key energy agency Thursday over Democrats’ objections that he is too biased for the job. The 50 to 49 vote along party lines means Bernard McNamee, a Republican and former high-ranking political official at the Energy Department under Trump, can take his spot in the five-person Federal Energy Regulatory Commission
From the AP/Washington Post Bank of the West’s decision to divest from certain fossil fuel investments has run headlong into threats of retaliation in states that get much of their revenue from coal, oil and natural gas extraction. The San Francisco-based bank recently made it known that it would be “investing where we feel we can make the most impact”
While Germany continues to phase out both nuclear and coal, natural gas will remain a baseload and backup fuel From Power Magazine Germany’s Social Democratic Party (SPD) members agreed to join their longtime rival and governing partner, the Christian Democratic Union (CDU), and reluctantly entered into a third grand coalition government on March 4. While this ended months of anxious
Securing political support for 2,500 foot drilling setbacks, abolishing the COGCC, removing public funds from banks who make loans to fossil fuel companies The movement against shale development has progressed considerably beyond a group of activists holding signs and shouting anti-fracing slogans in front of the capitol. The “climate justice” movement, which calls its goal of replacing fossil fuels with
Perusing the Inter-web, we found State Street Global Advisors SPDR S&P 500 FOSSIL FUEL FREE ETF, and just wondered “is that even possible.” No. Well, that didn’t take long. According to State Street: “The ETF Fund may purchase a subset of the securities in the “Index” in an effort to hold a portfolio of securities with generally the same risk
If Martin Keller’s prediction comes true, in 50 years the U.S. won’t be using nearly the amount of crude oil, refined petroleum products, natural gas or coal as the legacy energy industry has been supplying for the past 100 years – Part One The National Renewable Energy Laboratory, or NREL, is a place you might label as the federal government’s
