5 December 2015, The Spectator, An age of climate realism is upon us. At last, cooler heads are prevailing….The Paris meeting is not even attempting to achieve what the 2009 Copenhagen summit failed to do: reach a legally binding treaty on cutting CO2 emissions. Instead, the aim is to replace the legally binding targets of the Kyoto Protocol (which runs out in 2020) with voluntary pledges tailored to the national considerations of individual countries. In short, the Paris climate deal will mean abandoning the notion of making decarbonisation legally binding — at least for the time being. Even so, governments from around the world are keen to sign an agreement that will allow political leaders to declare a victory, and to move on. At the same time, officials readily accept that painful decisions will be kicked into the long grass. Thus, the Paris accord is likely to be a ‘wait and see’ arrangement which, for the next decade at least, suspends any attempt of reaching a binding decarbonisation treaty. Such an outcome will almost certainly trigger a fundamental reassessment of Europe’s go-it-alone-no-matter-what-the-costs decarbonisation policies. Why has it proven impossible for such summits to make the kind of progress that was, until recently, billed as a matter of saving the world? Firstly, policies that commit western governments to unilateral decarbonisation have turned out to be more costly and politically toxic than conventional wisdom proclaimed. Rather than running out of fossil fuels — and thereby making renewable energy more competitive — the US shale revolution and the prospect of its global proliferation has triggered a glut of cheap oil and gas. Fuel prices have fallen and look set to remain low for the foreseeable future. As a result, the bridge to a world powered by renewable energy has become longer rather than shorter. Read More here Note that “the pause” noted in the article is a red herring – read more here
Tag Archives: gas
13 November 2015, DeSmog, Obama Administration Approves Pipeline Expansion Set to Feed First Ever Fracked Gas LNG Export Terminal. The Obama Administration has quietly approved expansion of a major pipeline carrying fracked gas destined for the global export market. The Gulf Trace pipeline, owned by The Williams Companies, is set to feed into Cheniere Energy’s Sabine Pass LNG export terminal in Louisiana. As first reported by Reuters, LNG tankers loaded with super-chilled liquefied natural gas obtained viahydraulic fracturing (“fracking”) will set sail for the first time from Sabine Pass in January 2016. In a statement, Williams said it had received approval for Gulf Trace from the U.S. Federal Energy Regulatory Commission (FERC) and had set a date of the first quarter of 2017 for the project to be in service. The statement said Gulf Trace was part of $5.1 billion worth of transmission projects targeting the eastern U.S. Gulf Trace will feed gas obtained from fracking in Pennsylvania’s Marcellus Shale basin to Sabine Pass. Pipeline company giant Energy Transfer Partners (ETP) recently purchased Williams Companies for $32.6 billion. ETP — whose assets include both hotly-contested proposed Dakota Access LLC pipeline and the Trans-Pecos Pipeline — is run byCEO Kelcy Warren, who served as an advisory committee member and donor to former Republican Party presidential candidate Rick Perry. Perry sits on ETP‘s Board of Directors. Sabine Pass LNG Terminal owner Cheniere Energy, the first company in the fracking era to receive an export permit from the Obama Administration back in 2012, also has a politically connected Board of Directors. Among its members is Obama’s former climate czar, Heather Zichal. FERC has come under fire of late for rubber-stamping nearly every project proposal landing on its desk. Read more here
12 November 2015, Climate News Network, Biggest economies still backing fossil fuels. Analysts say the world’s 20 leading economies give nearly four times as much in subsidies to fossil fuel production as total global subsidies to renewable energy. The governments of the world’s major industrialised countries, the G20 group, are providing more than US$450 billion a year to support the production of fossil fuels. That is almost four times the entire world’s subsidies to the rapidly growing renewable energy sector, as the International Energy Agency (IEA) estimates total global renewables subsidies in 2013 at $121bn. The G20 group agreed in 2009 to phase out fossil fuel subsidies “in the medium term”, a pledge that was repeated at its 2014 meeting in Brisbane. But the UK’s Overseas Development Institute (ODI) and campaign group Oil Change International (OCI) have now published a detailed analysis of G20 subsidies to oil, gas and coal production. Empty promises Their “Empty Promises” report on G20 subsidies to oil, gas and coal production says researchers found that G20 support to fossil fuel production now totals $452bn. The report singles out the UK for particular criticism, saying it “stands out as the only G7 nation significantly ramping up its support for the fossil fuel industry, with even more tax breaks and industry support handed out to companies operating in the North Sea in 2015”. A similar report by the two groups a year ago said G20 subsidies for fossil fuel exploration alone amounted to an estimated $88bn annually. Read More here
12 November 2015, Australian fossil fuel subsidies put at $5.6bn a year in new report. As Malcolm Turnbull heads to Turkey to attend this weekend’s G20 Summit in Antalya, a new international report has revealed that Australia is still subsidising fossil fuel production to the tune of a massive $A5.6 billion a year. The report, ‘Empty promises: G20 subsidies to oil, gas and coal production’, also highlights how Australian companies have received billions of dollars from other G20 governments to develop liquefied natural gas sites. And it notes that Australia also funds the industry with a further $A292 million ($US262 million) a year in public finance, as it expands fossil fuel production on multiple fronts. The findings come during a week where the Turnbull is coming under increasing pressure – domestically and internationally – to agree to a OECD proposal that would rein in export credit agency financing for new coal plant. Although the Turnbull government is being cagey about its response to the proposal, it has been widely reported that Canberra has joined with South Korea to propose a much-watered down version of the US-Japan deal. Considering the modesty of the OECD proposal – which has been years in the making and needs unanimous support to be adopted – it’s not a good start to global climate negotiations. And it’s not a good look for Australia as it heads to Turkey, and then Paris. But of course, Australia is not the only offender. According to the new report – put together by the UK-based Overseas Development Institute and USA-based Oil Change International – governments from the Group of 20 nations are propping up fossil fuel production with $US452 billion a year. This is almost four times the entire global subsidies for renewable energy ($US121 billion). And it is despite pledges to phase out fossil fuels – and subsidies to the industry – as one of the key measures to prevent catastrophic climate change. Read More here