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Wed, 2014-10-01 13:00Chris Rose
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Tide Turning Against Global Coal Industry: New Report

Coal plant

Coal, the fossil fuel that largely sparked the industrial revolution, may be facing the beginning of the end — at least in terms of generating electricity.

There are increasing signs of the demise of the world’s dirtiest fossil fuel, from a global oversupply to plummeting prices to China starting to clean up its polluted air.

Last week, the Carbon Tracker Initiative published an analysis — Carbon Supply Cost Curves: Evaluating Financial Risk to Coal Capital Expenditures — identifying major financial risks for investors in coal producers around the world.

Saying the demand for thermal coal in China, the world’s largest emitter of toxic greenhouse gases, could peak as early as 2016, the analysis also highlights $112 billion of future coal mine expansion and development that is excess to requirements under lower demand forecasts.

Thu, 2014-09-25 05:00Mike G
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China To Create National Cap-And-Trade Program As Obama Admin Must Bypass U.S. Senate On Climate

The Obama Administration is pursuing an international climate agreement that would be “politically binding” but would not be a treaty requiring ratification by two-thirds of the U.S. Senate.

Meanwhile, China has announced it will create a national cap-and-trade program.

These two facts amount to a stunning juxtaposition. China, currently the world’s largest emitter of greenhouse gas pollution, is taking decisive action to lower its emissions, while the leader of the United States, historically the world’s largest climate polluter, must circumvent his own government to take even modest first steps towards dealing with climate change.

According to the latest Global Carbon Budget report, CO2 emissions rose 2.3% in 2013, with China responsible for 28% and the United States contributing 14%.

Emissions are projected to increase by another 2.5% in 2014, according to the report, which also notes that the world is on track for a temperature rise somewhere between 3.2 and 5.4 degrees Celsius over pre-industrial levels by 2100—well above the 2-degree mark scientists say we must limit warming to in order to avert the worst effects of climate change.

The New York Times reports that negotiators for the Obama Adminstration are calling an international agreement that bypasses the treaty ratification process in the Senate the only viable path forward:

Lawmakers in both parties on Capitol Hill say there is no chance that the currently gridlocked Senate will ratify a climate change treaty in the near future, especially in a political environment where many Republican lawmakers remain skeptical of the established science of human-caused global warming.


This is not the first time Obama has gone around Congress to take action on the climate. The centerpiece of President Obama’s Climate Action Plan uses authorities granted to the EPA under the Clean Air Act to limit carbon emissions on a state-by-state basis and requires states to come up with plans to achieve those cuts.

But even the Obama Administration admits that this type of measure is not, in and of itself, a solution to the climate crisis we’re facing.

“The point is, that this is a start,” White House science and technology advisor John Holdren recently told the House Science Committee. “The carbon-action plan is a start, and if we do not make a start, we will never get there.”

Tue, 2014-09-23 05:00Steve Horn
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Peabody Energy Booted From S&P 500, King Coal on the Defensive as Market Signals Industry Decline

King Coal and industry multinational Peabody Energy (BTU) have taken a beating in the markets lately, and it has some executives in the dirty energy industry freaking out

On September 19, Dow Jones removed Peabody Energy from its S&P 500 index, considered a list of the premier U.S. stocks for investors. The St. Louis Post-Dispatch cited the downward trajectory of the company's market capitalization as the rationale behind the ouster of Peabody from the S&P 500 index. Peabody will now join the JV leagues in the S&P MidCap 400.

Peabody's downfall symbolizes ongoing market trends within the coal industry overall.

“The total market value of publicly traded U.S. coal companies has rebounded slightly in recent months, but remains nearly 63% lower than a total of the same companies at a near-term coal market peak in April 2011,” explained SNL Energy in April. 

“A perfect storm of factors, including new federal regulations impacting coal-burning power plants, cheap competing fuels, railroad service issues and weak global markets has kept pressure on a number of coal operators since the industry's 2011 near-term peak.”

A new study published this week by the Carbon Tracker Initiative — best known for its work accounting for a “carbon budget” and unburnable carbon — raises further questions about the future of coal's global market hegemony. It's another blow to the coal industry as the United Nations convenes this week's Climate Summit in New York City to discuss climate disruption, in no small part driven by antiquated coal-fired power plants.

Fri, 2014-02-28 13:40Kevin Grandia
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New Global Study Finds Canada Lagging Behind China on Climate Change Legislation

pollution from syncrude plant in the Alberta oilsands

A frequently used talking point from Prime Minister Stephen Harper is that Canada will only tackle the issue of climate change if countries like China agree to take action as well. 

Looks like that time has come.

A new study released this week that examines nearly 500 pieces of legislation in 66 countries finds Canada lags behind many countries, including China, when it comes to advancing a plan to reduce climate change pollution and fossil fuel usage. 

According to Globe International, the organization behind the study, Canada currently “has no comprehensive federal climate change legislation.”

In China on the other hand, “it was announced in 2010 at the GLOBE International legislators’ forum in Tianjin that China would begin work on [climate] legislation. A first formal draft of the law is expected to be produced in early 2014, after which a comprehensive formal consultation will begin with government ministries, industry and other stakeholders, with passage likely by 2015.”

Mon, 2013-12-16 10:07Steve Horn
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New "Frackademia" Report Co-Written by "Converted Climate Skeptic" Richard Muller

The conservative UK-based Centre for Policy Studies recently published a study on the climate change impacts of hydraulic fracturing (“fracking”) for shale gas. The skinny: it's yet another case study of “frackademia,” and the co-authors have a financial stake in the upstart Chinese fracking industry.

Titled “Why Every Serious Environmentalist Should Favour Fracking“ and co-authored by Richard Muller and his daughter Elizabeth “Liz” Muller, it concludes that fracking's climate change impacts are benign, dismissing many scientific studies coming to contrary conclusions.

In an interview with DeSmogBlog, Richard Muller — a self-proclaimed “converted skeptic” on climate change — said he and Liz had originally thought of putting together this study “about two years ago.”

“We quickly realized that natural gas could be a very big player,” he said. “The reasons had to do with China and the goal of the paper is to get the environmentalists to recognize that they need to support responsible fracking.

The ongoing debate over fracking in the UK served as the impetus behind the Centre for Policy Studies — a non-profit co-founded by former right-wing British Prime Minister Margaret Thatcher in 1974 — hosting this report on its website, according to Richard Muller.

“They asked for it because some environmentalists are currently opposing fracking in the UK, and they wanted us to share our perspective that fracking is not only essential for human health but its support can be justified for humanitarian purposes,” he said. 

This isn't the first time Liz Muller has unapologetically sung the praises of fracking and promoted bringing the practice to China. In April, she penned an op-ed in The New York Times titled, “China Must Exploit Its Shale Gas.” 

Tue, 2013-01-22 17:54Carol Linnitt
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Approaching the Point of No Return: The World's Dirtiest Megaprojects We Must Avoid

Canada's tar sands are one of 14 energy megaprojects that are “in direct conflict with a livable climate.”

According to a new report released today by Greenpeace, the fossil fuel industry has plans for 14 new coal, oil and gas projects that will dangerously increase global warming emissions at a time when massive widespread reductions are necessary to avoid catastrophic climate change. In conjunction these projects make it very likely global temperature rise will increase beyond the 2 degrees Celsius threshold established by the international community to levels as high as 4 or even 6 degrees.

Fri, 2012-12-07 17:21Carol Linnitt
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Harper Government Approves Foreign Acquisition of Nexen, Progress Energy, Affirms FIPA Concerns

Today Prime Minister Stephen Harper announced the approval of two major acquisitions of Canadian energy companies by foreign state-owned enterprises. The Chinese National Offshore Oil Company (CNOOC) will commence the $15.1 billion takeover of Nexen Inc., a Canadian company with major holdings in the Alberta tar sands. Malaysia's Petronas will proceed with the purchase of Progress Energy Resources Corp., a Calgary company with considerable shale gas plays in British Columbia, for $5.2 billion. Petronas has plans to construct an $11 billion liquified natural gas plant in Prince Rupert to prepare gas exports for Asia. 

Prime Minister Harper announced the takeovers, which are steeped in controversy, in tandem with new takeover guidelines intended to address growing concerns of foreign ownership of Canada's resources by energy-hungry nations. He remained silent on the significance of the approval for FIPA, the Foreign Investment Protection and Promotion Agreement, also known as the China-Canada Investment Treaty.
 
“Canadians generally and investors specifically should understand that these decisions are not the beginning of a trend but rather the end of a trend,” said Mr. Harper. The full meaning of that statement, however, remains to be seen. The Harper government's decision to ratify FIPA may mean deals done with China, like today's deal with CNOOC, will carry a new significance.
 
The government previously raised the threshold for official review of foreign takeovers from $330 million to $1 billion, signaling open arms to potential foreign investors with an eye on mega projects like the Alberta tar sands. However, today that threshold was returned to $330 million for state-owned enterprises.
 
“To be blunt, Canadians have not spent years reducing ownership of sectors of the economy by our own governments only to see them bought and controlled by foreign governments instead,” Mr. Harper said
Wed, 2012-10-31 15:52Carol Linnitt
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Rush to Ratify: FIPA May Violate Constitutional Protection of First Nations Rights

The Canada-China Foreign Investment Promotion and Protection Agreement (FIPA) may be ratified as soon as tomorrow, November 1. This despite a massive demonstration of Canadian opposition to the investment trade deal that will lock the federal government into a dangerously undemocratic agreement with China and Chinese investors for 31 years

The proposed agreement, signed by Stephen Harper in Russia on September 9 and kept secret until September 26, is being strong-armed through the house of commons after the required 21-day session in Parliament. Political action and environmental groups, opposition party leaders and experts in the field of international trade law are urging the Harper government to reconsider the agreement's immediate ratification, demanding an open parliamentary debate before the trade deal's future is decided.
 
So far all requests to throw out the deal, host a national debate, investigate the deal in emergency Parliamentary discussions, or indefinitely delay the deal's ratification, have gone unheeded by the Harper government.
 
Under FIPA the federal government is obliged to protect investor rights and profits, even to compensate for lost profits. That means when it comes to disputes involving Chinese investors, like the one over the future of Enbridge's Northern Gateway Pipeline, the Canadian government will have a duty to protect investor profits and not necessarily the jurisdictional rights of the British Columbian government, people or First Nations. 
Sun, 2012-10-28 05:00Farron Cousins
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Why Is North America Behind The Curve On Climate Change and Energy?

Just three short years ago, it appeared that North America was on the verge of finally kicking that nasty dirty energy addiction that was crippling our economies and our energy independence.  The United States had elected a president (Barack Obama) who set incredibly lofty goals for renewable energy targets, and green energy investments across the continent were higher than anywhere else in the world.

Fri, 2012-10-26 17:20Franke James

The Scary Canada-China Trade Deal That Will Haunt Us for 31 Years

Illustration FIPA Harper by Franke James

hat's the scariest thing happening just after Halloween? Is it the stomachaches our children will have from eating too many sweet treats? No, it’s the Canada-China Foreign Investment Promotion and Protection Agreement (FIPA), which will automatically come into force on November 2nd, binding Canada for 31 years to come.

Shockingly, the most significant trade agreement since NAFTA is set to automatically go into effect – without a single debate or vote in Parliament. Our political representatives have not even had the chance to say “Boo”.
 
The deal was signed in secret by the Harper Government on September 9th, and quietly tabled in the House of Commons on Sept.26th. No press release to the Canadian media. No briefing to our MPs to announce the details. Just a clock ticking off the 21 sitting days until FIPA comes into force on Nov.2.
 
But surely the Harper Government has protected Canada’s interests? Unfortunately, no.
 

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