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Rex Tillerson Backs Aggressive Policy in Disputed South China Sea as Exxon, Russia Eye Region’s Oil and Gas

Tillerson getting sworn in as Secretary of State with Trump

President Donald Trump's newly sworn-in Secretary of State, recently retired ExxonMobil CEO Rex Tillerson, turned heads when he expressed support for an aggressive military stance against China's actions in the disputed South China Sea during his Senate committee hearing and in response to questions from Democratic Party Committee members.

Tillerson's views on China and the South China Sea territory appear even more concerning against the backdrop of recently aired comments made by Trump's increasingly powerful chief strategist, Steve Bannon, that the two nations were headed toward war in the next five to 10 years, as reported by the Independent (UK). However, what Tillerson did not reveal in his answers is that Exxon, as well as Russian state-owned companies Gazprom and Rosneft, have been angling to tap into the South China Sea's offshore oil and gas bounty.

For China, Climate Change Is No Hoax – It’s a Business and Political Opportunity

Chinese wind farm

By , University of Southern California  

In mid-November, while Americans were preoccupied with election returns, China sent some of its clearest signals yet that it will continue to pursue an international leadership role on issues including climate.

At an international climate change summit in Marrakech, the Chinese government reasserted its commitment to reduce its greenhouse gas emissions. The government announced that its aggregate emissions will peak by 2030 or earlier, and that its emissions per dollar of economic output will decline sharply.

US, China Formally Join Paris Climate Agreement

U.S. President Barack Obama and Chinese President Xi Jinping

The two biggest greenhouse gas emitters in the world have formally joined the Paris climate agreement.

Shortly after China adopted the agreementU.S. President Barack Obama today made the announcement that the U.S. had followed suit while he was in Hangzhou, China, ahead of this weekend's G20 summit. Together, the U.S. and China are responsible for some 38.76 percent of global emissions.

At Federal Energy Conference, Forecasts Predict Bright Future for Fossil Fuels

This year’s annual Energy Information Administration conference started off on a somewhat positive note with a presentation by Dr. John Holdren, the Obama administration director of the White House Office of Science and Technology Policy. Holdren was clear in his presentation that the risks of climate change are real and deserve urgent action. 

He noted estimates of 15 feet of sea level rise being baked in with warming of only 2 degrees Celsius — a target that clearly will be difficult to meet. He commented on the following slide of predicted fossil fuel consumption growth as “very striking” and noted that “There really is no time to lose in shrinking emissions.”

More Money Invested in Renewable Energy in 2015 Than New Fossil Fuel Power Projects

A record US$367 billion was invested in renewable energy in 2015, according to a new report out today by the Clean Energy Canada initiative of the Centre for Dialogue at Simon Fraser University.

Renewables investment increased by seven percent since 2014, with China, the US, and Japan representing more than half of the total investment last year, shows the report.

The report also finds that for the first time, more money was invested in clean energy than in new power from fossil fuel ($253bn).

US Solar Jobs Double As Clean Energy Continues Explosive Growth Around The World

Renewable energy continued its explosive growth in 2015 — and I don’t mean explosive like an oil train accident.

A new global record was set last year with the investment of $328.9 billion in clean energy. That edged out the previous high mark, set in 2011, by 3 percent, according to Bloomberg New Energy Finance.

Coal Mining's Financial Failures: Two Thirds of World's Production Now Unprofitable

Sixty-five percent of the world's coal production is unprofitable at today's prices, a new research report by Wood Mackenzie, a commercial intelligence company often cited by investment analysts and the coal industry itself, concluded.

Both major types of coal — the coking coal used for making steel and the thermal coal burned in coal-fired electrical power plants — were included in Wood Mackenzie's analysis. The estimate may be conservative, as the group excluded some costs incurred during mining, and focused primarily on the sharp drop in the price of coal.

Is Saudi Arabia The Big Bad Wolf Of The Paris Climate Talks?

BY KYLA MANDEL AND BRENDAN MONTAGUE IN PARIS

Oil rich Saudi Arabia is leading a campaign to sabotage attempts by countries on the front line of climate change to include an ambitous 1.5C target for global warming in the COP21 agreement currently being negotiated in Paris. 

Wealthy nations - including Germany, France and now the United States - have all signalled support for including references to the lower target in the final text, as negotiators reach the end of the first week of negotiations.

The oil producing giant last night blocked efforts to include references in the Paris deal to a UN report that says it would be better to limit global warming to 1.5C above pre-industrial levels rather than the current 2C target.

How Fracking Changed the Economics of Oil Production Around the World

James Meadway, chief economist at the New Economics Foundation, explains the interrelated economics behind China’s 'Black Monday' stock market crash, Middle Eastern oil and US fracking.

The 'fracking revolution' has transformed the economics of oil production globally, with the US becoming a bigger producer than Saudi Arabia and – after decades of dependency on oil imports – even being able to export some of its surplus production.

US shale oil is unusual, too, in being privately owned: most of the world’s oil reserves (over 70 percent) are in state hands. Like the North Sea 30 years ago, in a world dominated by state-owned companies and publicly owned reserves, US shale could look like a new frontier for private operators on the search for fat profits.

Biomass Is Not A Zero-Carbon Fuel Source, So Why Does The Clean Power Plan Propose To Treat It That Way?

The EPA’s Clean Power Plan is the foundation of President Obama’s climate strategy. The plan, which is to be finalized later this year, sets state-by-state targets for reducing emissions from existing power plants, especially coal-fired power plants, which will be essential to meeting the commitments made in the climate deal President Obama struck with China late last year.

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