global warming

Oil Investors: Now Is Probably The Time To Get Your Money Into Electric Cars

Even if you haven’t been convinced by the rock-bottom price of oil or the divestment movement and the risks of climate change to get your money out of oil investments, you may want to pay attention to what’s going on right now with electric cars.

The age of plug-in electric cars is swiftly approaching. Chevy, Nissan, and Tesla plan to soon start selling electric cars in the $30,000 price range that can travel more than 200 miles on a single charge. Tesla’s Model S already outsells the competition in the large luxury class in the US.

BMW, Ford, Volkswagen, and virtually every other major car manufacturer are all looking to get in on the electric vehicle game too, and are investing billions. Even tech giants Apple and Google are hoping to develop the next hot electric car.

As Bloomberg puts it, “This is a problem for oil markets.”

Fracking Pollution Raising the Earth's Levels of Ethane, Bakken Oilfield Is Largely to Blame

The Bakken shale oilfield is single-handedly responsible for most of a mysterious global rise in atmospheric ethane — a pollutant that can harm human health and heat the atmosphere further — peer-reviewed research published last week reveals.

The Bakken, which stretches from North Dakota and Montana into Canada, has made headlines over the past decade for its sudden drilling boom (and an equally sudden job market bust as oil prices have plunged over the past year).

But while the drilling boom made North Dakota the nation's second largest oil-producing state, the amount of hydrocarbons leaking and being deliberately vented from the oil field may have been enough to alter the composition of the Earth's atmosphere slightly, reversing a long-running decline in ethane levels worldwide.

Groups Call On Obama To End Crude Oil Exports In Wake Of Paris Climate Agreement Signing

175 nations signed the Paris Climate Agreement last Friday, setting a record for the most countries to sign a U.N. agreement on opening day.

Earlier in the week, even before Secretary of State John Kerry officially signed on behalf of the U.S. with his granddaughter in his lap, more than 300 environmental, faith, health and social justice organizations filed a legal petition calling on the Obama Administration to declare a national emergency and end all U.S. crude oil exports as a means of meeting its commitments under the Paris Agreement.

According to the groups, led by the Center for Biological Diversity and Food & Water Watch, President Obama could immediately halt the export of crude oil under executive legal authority granted to him by the 2016 Appropriations Act and the National Emergencies Act.

Calls For Permanent Closure of Aliso Canyon NatGas Storage Facility As Californians Face Blackouts

Last week, California regulators and Southern California Gas Company, which operates the Aliso Canyon Storage Facility, issued a report warning that a continued shutdown of the facility, the site of the worst methane leak in state history, would lead to blackouts throughout the summer.

The regulators and the company have proposed restarting gas injections into the Aliso Canyon facility in the coming weeks, but Porter Ranch area residents — 1,800 of whom had to be evacuated due to health impacts of the methane leak — are challenging the report’s findings and calling for permanent closure of Aliso Canyon, one of the largest gas storage facilities in the US.

Aliso Canyon has been shut down since January. The leak started in October of last year. Two and a half months later, Governor Jerry Brown finally declared a state of emergency, but it would take SoCalGas, as the company is known, another month and a half to finally stop the leak.

$2.5 Trillion Worth of Global Financial Assets at Risk From Climate Change Impacts by End of Century, Study Warns

An average $2.5 trillion (£1.76trn) of the world’s financial assets would be at risk from climate change impacts if global temperatures are left to increase by 2.5°C by 2100, warns a new study by the Grantham Research Institute on Climate Change and the Environment at the London School of Economics.

The study, published today in the journal Nature Climate Change, is the first of its kind to produce a comprehensive estimate of the total value at risk from climate change impacts. So far most of the attention has focused on the risk of climate change to fossil fuel companies.

Under the Paris climate deal, nations have agreed to limit global warming to “well below” 2°C from pre-industrial levels. However, under business as usual emissions are set to increase global average temperatures by approximately 2.5°C.

Tapping Canada's Geothermal Potential

In the midst of controversy over B.C.’s Peace River Site C dam project, the Canadian Geothermal Energy Association released a study showing the province could get the same amount of energy more affordably from geothermal sources for about half the construction costs. Unlike Site C, geothermal wouldn’t require massive transmission upgrades, would be less environmentally disruptive and would create more jobs throughout the province rather than just in one area.

Despite the many benefits of geothermal, Canada is the only “Pacific Ring of Fire” country that doesn’t use it for commercial-scale energy. According to Desmog Canada, “New Zealand, Indonesia, the Philippines, the United States and Mexico all have commercial geothermal plants.” Iceland heats up to 90 per cent of its homes, and supplies 25 per cent of its electricity, with geothermal.

February's Global Temperature Spike is a Wake-Up Call

By Steve Sherwood, UNSW Australia and Stefan Rahmstorf, Potsdam Institute for Climate Impact Research

Global temperatures for February showed a disturbing and unprecedented upward spike. It was 1.35℃ warmer than the average February during the usual baseline period of 1951-1980, according to NASA data.

This is the largest warm anomaly of any month since records began in 1880. It far exceeds the records set in 2014 and again in 2015 (the first year when the 1℃ mark was breached).

In the same month, Arctic sea ice cover reached its lowest February value ever recorded. And last year carbon dioxide concentration in our atmosphere increased by more than 3 parts per million, another record.

What is going on? Are we facing a climate emergency?

Bonner Cohen

Bonner R. Cohen

 Credentials

  • Ph.D. University of Munich
  • B.A. University of Georgia
Source: [1]

 Background

New Report Identifies The Fossil Fuels We Must Keep In The Ground To Avert Catastrophic Climate Change

As the US Senate haggles over a comprehensive energy bill, climate activist groups have identified the global fossil fuel reserves that must be kept in the ground if we’re to limit global warming to the critical 2-degree-Celsius threshold.

This week saw the Senate debating the hotly contested energy bill, which has been criticized by environmentalists for including a number of fossil fuel industry giveaways, including expedited permitting for liquefied natural gas (LNG) terminals and subsidies for coal technology, among other troublesome provisions.

Democratic Senators Sheldon Whitehouse (RI), Ed Markey (MA) and Brian Schatz (HI) responded by introducing an amendment into the energy bill designed to express Congress’s disapproval of the use of industry-funded think tanks and misinformation tactics aimed at sowing doubt about climate change science.

Senate Democrats ultimately stopped the energy bill from moving forward on Thursday over the fact that a $600-million amendment to address the water crisis in Flint, MI was not included.

The US is not the only country that needs to do some soul-searching when it comes to energy policies, however.

What Are The Chances Of Getting All These Record Hot Years Without The Extra Greenhouse Gases? The Answer...

From hot to fractionally less hot, here are the planet’s ten warmest years on record – 2015, 2014, 2010, 2005, 2007, 2013, 2009, 1998, 2002 and 2006.

These are the numbers according to NASA and include measurements taken on land and at sea in a record that goes back to the year 1880.

Now that’s a pretty remarkable run of hot years for an era when, according to the rusted-on professional climate science denialists, global warming was supposed to have stopped.

But what are the chances of getting a run of “hottest on record” years like that - 14 of the 16 hottest years all happening since 2000 - without all the extra greenhouse gases that humans have been judiciously stockpiling in the atmosphere and oceans?

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