carbon dioxide

Bank Of America, Once The Largest Funder Of US Coal, To Cut Coal Funding Worldwide

At its annual shareholder meeting in Charlotte, North Carolina last week, Bank of America announced that it was officially committed to slashing its financing of coal.

This is a major policy reversal for the bank. Just a few years ago, Bank of America, then the biggest bank in the US, was the largest underwriter of the US coal industry. From 2009 to 2010, for instance, the bank pumped some $4.3 billion into US coal companies, a fifth of all coal financing by the top 25 banks and financial institutions.

Coal Companies Talking Out Both Sides Of Their Mouths When It Comes To Climate Change

Peabody Energy, the largest coal company in the U.S., deployed one of the lawyers on its payroll to Congress last week to argue against the Environmental Protection Agency’s new carbon rule.

This is so common that it normally wouldn’t rate a mention, but in this case it happened to be Obama’s former Harvard law professor Laurence Tribe, who now works for Peabody and is critical of the EPA’s Clean Power Plan, saying it is tantamount to “Burning the Constitution.”

But then, even that ranks pretty low in terms of newsworthiness given that, as a new analysis by Greenwire E&E reporters Corbin Hiar and Manuel Quiñones puts it, “The highest profile practitioner of targeted climate messaging is Peabody Energy Corp.”


The Greenwire analysis shows that many coal companies are, in fact, frequently talking out both sides of their mouths when it comes to climate change, and uses Peabody in particular as a case study of the legal and shareholder risks involved.

US Could Slash Global Warming Emissions By Curbing Fossil Fuels Extraction On Public Lands

The U.S. Department of the Interior this week announced new fracking regulations that will serve as the only federal rules enforcing any kind of safety measures on the controversial drilling technique when they go into effect in a few months.

The rules only apply to oil and gas wells on public lands, however, and most fracking is done on private or state-owned land. The Obama Administration says it is hoping to set an example for states to follow when setting their own fracking standards, but if that’s the case, the federal government actually has plenty of opportunity to lead by example when it comes to reining in carbon emissions from fossil fuel development.

According to a new report by the Center for American Progress and The Wilderness Society, there is “a blind spot in U.S. efforts to address climate change.” Fossil fuel extraction on public lands, the source of almost 30% of U.S. energy production, is responsible for more than a fifth of total U.S. greenhouse gas emissions, the carbon equivalent of having 280 million more cars on the road. But the DOI “has no comprehensive plan to measure, monitor, and reduce the total volume of GHG emissions that result from the leasing and development of federal energy resources.”

“The Department of the Interior has long been in the business of approving well after well, mine after mine, without assessing the impacts of its energy policies on U.S. carbon pollution levels,” Matt Lee-Ashley, senior fellow and director of the public lands project at the Center for American Progress, told FuelFix.

Financing Climate Action Among Major Concerns in First Week of COP20 Climate Negotiations

COP20 UNFCCC DeSmog Canada

How to finance a global shift away from toxic greenhouse gases caused by burning fossil fuels was one of the key talking points during the first week of the annual United Nations climate change conference held this year in Lima, Peru.

The conference, which began Monday and is scheduled to end next Friday, started with a statement by Christiana Figueres, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC), who said negotiators must draft a new, universal climate change agreement that will hopefully be endorsed next year at COP21 in Paris.

Figueres also said negotiators “must enhance the delivery of finance, in particular to the most vulnerable” as well as stimulating “ever-increasing action on the part of all stakeholders to scale up the scope and accelerate the solutions that move us all forward, faster.”

North America Can Say Goodbye to Half its Birds if Rising GHG Emissions Aren’t Stopped

bird species, climate change, audubon socity

An alarming new study published Tuesday by the National Audubon Society says that almost half the bird species in the continental United States and Canada are already threatened by climate change.

The study — Audubon’s Birds and Climate Change Report — finds that 126 species will lose more than 50 per cent of their current ranges by mid-century with no possibility of relocating if global warming continues at its current pace.

A further 188 species face more than 50 per cent range loss by 2080 but may be able to make up some of this loss if they are able to colonize new areas,” an accompanying media release says. “These 314 species include many not previously considered at risk. The report indicates that numerous extinctions are likely if global temperature increases are not stopped.”

It’s a punch in the gut. The greatest threat our birds face today is global warming,” Audubon Chief Scientist Gary Langham, who led the investigation, said in the media release.

Shale Oil Drillers Deliberately Wasted Nearly $1 Billion in Gas, Harming Climate

In Texas and North Dakota, where an oil rush triggered by the development of new fracking methods has taken many towns by storm, drillers have run into a major problem.

While their shale wells extract valuable oil, natural gas also rises from the wells alongside that oil. That gas could be sold for use for electrical power plants or to heat homes, but it is harder to transport from the well to customers than oil. Oil can be shipped via truck, rail or pipe, but the only practical way to ship gas is by pipeline, and new pipelines are expensive, often costing more to construct than the gas itself can be sold for.

So, instead of losing money on pipeline construction, many shale oil drillers have decided to simply burn the gas from their wells off, a process known in the industry as “flaring.”

It's a process so wasteful that it's sparked class action lawsuits from landowners, who say they've lost millions of dollars worth of gas due to flaring. Some of the air emissions from flared wells can also be toxic or carcinogenic. It's also destructive for the climate – natural gas is made primarily of methane, a potent greenhouse gas, and when methane burns, it produces more than half as much CO2 as burning coal.

Much of the research into the climate change impact the nation's fracking rush – now over a decade long – has focused on methane leaks from shale gas wells, where drillers are deliberately aiming to produce natural gas. The climate change impacts of shale oil drilling have drawn less attention from researchers and regulators alike.

EPA Internal Audit Finds Flawed Pipeline Oversight Adds $192 Million a Year to Gas Bills, Harms Climate

On Friday, the Environmental Protection Agency's internal watchdog, the inspector general released a scathing report on the agency's failure to control leaks from the nation's natural gas distribution system.

The report, titled “Improvements Needed in EPA Efforts to Address Methane Emissions From Natural Gas Distribution Pipelines,” describes a string of failures by the EPA to control leaks of one of the most potent greenhouse gases, methane, from the rapidly expanding natural gas pipeline industry.

“The EPA has placed little focus and attention on reducing methane emissions from pipelines in the natural gas distribution sector,” the report begins. “The EPA has a voluntary program to address methane leaks — Natural Gas STAR — but its efforts through this program have resulted in limited reductions of methane emissions from distribution pipelines.”

To date, the industry has faced little binding regulation on leaks, in part because the EPA assumes that pipeline companies will not allow the product they are attempting to bring to market to simply disappear. But the reality is that when gas is cheap and repairs are expensive, pipeline companies often put off repairs unless there's a threat of an explosion.

Under many state policies, pipeline companies would have to pay upfront costs for pipeline repairs — or they simply choose to pass the cost of lost gas from unrepaired leaks on to consumers, an issue that the audit faults the EPA for failing to take into account.

Nationwide, the Inspector General report concluded $192 million worth of natural gas was lost from pipelines in 2011 alone.

Study Finds Methane Leaks 1,000 Times EPA Estimates During Marcellus Drilling

This week, a United Nations panel on climate change issued one of its most urgent warnings to date, explaining that unless major changes to greenhouse gas emissions are made within the next few years, it will become extraordinarily difficult to ward off the worst impacts of climate change.

We cannot afford to lose another decade,” Ottmar Edenhofer, a German economist and co-chairman of the committee, told The New York Times

With the time to cut emissions running out, the Obama administration has seized upon the hope that greenhouse gasses can be cut dramatically by switching from coal to natural gas, because gas gives off half as much carbon dioxide as coal when it’s burned. Indeed, when the EPA published its annual greenhouse gas inventory this Tuesday, it credited a switch from coal to natural gas with helping to cut carbon emissions nationwide.

But a new scientific paper, also published Tuesday in the prestigious peer-reviewed journal Proceedings of the Natural Academy of Sciences, further upends the notion that the current shale gas drilling rush is truly helping the U.S. cut its total greenhouse gas emissions.

In fact, the evidence suggests, the Obama administration has understated the full climate impacts of natural gas, focusing too much on only carbon dioxide and failing to take into account another key greenhouse gas: methane.

The paper, the first to directly measure methane plumes above natural gas drilling sites in Pennsylvania’s Marcellus shale, recorded methane leaks far more powerful than EPA estimates. Methane is especially important because its global warming effects are at their strongest during the first 20 years after it enters the atmosphere — in other words, during the small window of time identified as crucial by the U.N.’s climate panel.

New Carbon Rules for Power Plants A Missed Opportunity To Rein in Natural Gas Emissions, Critics Say

One of the linchpins of the Obama administration’s high-stakes plan to address climate change moved one step closer to implementation this week, as the EPA officially published proposed new carbon emissions standards for power plants, drawing fire from environmentalists who say the rules for natural gas power plants are too lenient.

The proposed rules cover both natural gas and coal-fired electrical plants, which are responsible for 40 percent of America’s carbon dioxide emissions.

The rules would make it virtually impossible for new coal-fired power plants to be built, unless carbon capture and sequestration technology is used, but sets standards that can be easily achieved by natural gas power plants without using any similar tools.

This has led to an outcry from environmental groups like the Center for Biological Diversity.

“If the EPA is serious about the climate crisis, it needs to be serious about reducing greenhouse pollution from all power plants — regardless of whether they are fueled by gas or coal,” Bill Snape, the senior counsel for the Center said in a statement. “The bottom line is that we can do better.”

The rules for coal plants are not expected to have much direct impact on new power plant construction plans—utilities planned to build very few coal plants even before the EPA proposed its rule.

But once they are finalized, the standards for new power plants will trigger a key clause of the Clean Air Act, and the EPA will next be required to create similar carbon dioxide emissions guidelines that would govern the existing 6,500 coal and natural gas power plants nationwide.

It’s important because it establishes the form that these regulations will take,” John Coequyt, of the Sierra Club’s Beyond Coal Campaign told ThinkProgress.

The EPA move is part of Mr. Obama’s overall climate strategy, which disappointed many observers who criticize its support of fracking and its underwhelming effectiveness. “The Obama administration is aiming for reductions by 2020,” Brad Plumer wrote in the Washington Post’s Wonkblog earlier this week. “But that's not nearly enough to avert a 2°C rise in temperatures, which is the broader goal.”  

Mr. Obama’s climate plan calls for a heavy reliance on natural gas, which produces roughly 50 to 60 percent as much carbon dioxide as coal when burned, to help transition away from coal. But there is strong evidence that natural gas, which is primarily composed of the powerful greenhouse gas methane, may be worse for the climate than coal. The Obama climate plan, in that case, would represent a move from the frying pan into the fire.

NY Times' Joe Nocera Overlooks Key Flaws in EDF Fracking Climate Change Study

Yesterday, New York Times' columnist Joe Nocera weighed in on the study by Environmental Defense Fund (EDF) and University of Texas-Austin (UT-Austin) on the climate change impacts of hydraulic fracturing (“fracking”)DeSmogBlog got a special mention in Nocera's op-ed titled, “A Fracking Rorschach Test.” 

Nocera praised UT-Austin Professor David Allen and colleagues for obtaining what he claimed was “unassailable data” on fugitive methane emissions and fracking's climate change impact potential. 

“The reason the Environmental Defense Fund wanted this study done is precisely so that unassailable data, rather than mere estimates, could become part of the debate over fracking,” wrote Nocera. “You can’t have sound regulation without good data.”

Missing from Nocera's praise: new findings by the Intergovernment Panel on Climate Change in their latest comprehensive review of the climate crisis.

IPCC revealed “over a 20-year time frame, methane has a global warming potential 86 [times the amount of] CO2, up from its previous estimate of 72 [times],” as explained by Climate Progress' Joe Romm.

In juxtaposition, Nocera dismissed DeSmog's criticisms of the study - one we referred to as “frackademia.” 

Simplifying the crux of my 3,000-word DeSmog critique and the 800-word follow-up as “because the nine companies involved had both cooperated and helped pay for it,” Nocera then rhetorically asks “why a study that necessitated industry cooperation and money is inherently less valid than a study produced by scientists who are openly opposed to fracking was left unanswered.”

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