Environmental Markets Newsletter

2012-02-01T13:58:00.002-06:00

EMN - January 30, 2012

2012-01-30T16:04:00.001-06:00

Quote of the Day

"I think what's happened around the Keystone is a wake-up call, the degree to which we are dependent or possibly held hostage to decisions in the United States, and especially decisions that may be made for very bad political reasons."

Canadian Prime Minister Stephen Harper, in the AP's "Thwarted on US oil pipeline, Canada looks to China"

Lead Stories

Regional Cap-and-Trade Effort Seeks Greater Impact by Cutting Carbon Allowances
The New York Times
Adjusting to shifts in the economy, states in the cap-and-trade system known as the Regional Greenhouse Gas Initiative have slashed the number of allowances that electric power companies can buy to offset their emissions.
http://jlne.ws/zm7Bu8
**RKB - Study, from November, runs below.

THE STUDY:
The Economic Impacts of the Regional Greenhouse Gas Initiative on Ten Northeast and Mid-Atlantic States
http://jlne.ws/vbCNA7

Reaping a Bonus From Cap-and-Trade
The New York Times' Green blog
Criticism of cap-and-trade programs often centers on the costs they impose on electric power companies and their consumers. But as I report in Friday’s Times, New York and other Northeastern and mid-Atlantic states that are trying out such a system have found that those costs can be offset by energy efficiency measures paid for by the cap-and-trade program itself.
http://jlne.ws/AqonqZ

**JK - Story also says "that states participating in the program had received $912 million over three years by charging electricity providers for their carbon dioxide emissions. Many of the states invested most of those funds in programs to retrofit homes and buildings to make them more energy-efficient, lowering consumption of electricity."

MPs attack go-it-alone carbon price floor
Financial Times
British industry faces a “devastating effect” from the government’s decision to set tougher carbon penalties than the rest of Europe, while consumers will have to pay
artificially high electricity prices, a committee of MPs has warned.
http://jlne.ws/zFFObS

**JK - Whatever happened to fewer credits?

Point Carbon slashes CO2 price outlook by 20-42 pct
Point Carbon
Thomson Reuters Point Carbon analysts have slashed their price forecasts for EU Allowances and U.N.-backed offsets for the second time in two months to reflect swelling supplies and the demand destruction caused by the euro zone debt crisis.
http://jlne.ws/xoexL4

World Bank sees carbon finance role for years
Reuters
The World Bank's carbon finance initiatives will likely be needed for at least five years, as the United Nations struggles to create a self-sufficient, international carbon market, the manager of the bank's carbon finance unit told Reuters.
http://jlne.ws/yFr5FH

IFC, UK gov't to invest $150 mln in climate fund
Reuters
The International Finance Corporation (IFC) and the UK government will invest around $150 million in the IFC Climate Catalyst Fund LP, to provide capital to low-carbon projects in emerging markets, the World Bank investment arm said on Friday.
http://jlne.ws/zXxlHF

Thwarted on US oil pipeline, Canada looks to China
AP
The latest chapter in Canada's quest to become a full-blown oil superpower unfolded this month in a village gym on the British Columbia coast.
http://jlne.ws/w7dLPl

Keystone to be linked to U.S. highway bill: Boehner
Reuters
Republican lawmakers will try to force the Obama administration to approve the Canada-to-Texas Keystone XL pipeline by attaching it to a highway bill that Congress will consider next month, House of Representatives Speaker John Boehner said on Sunday.
http://jlne.ws/wKXqvE

**JK - The two initiatives are so obviously linked. Good move Boehner.

EU Sees No Need to Further Regulate Shale Gas
The Wall Street Journal
There is no need for new legislation to regulate shale gas exploration in the European Union, according to a study published Friday that proposed the bloc adopt a low profile on the controversial issue.
http://jlne.ws/zpwTJU

Opinion: Shale gas fate trips up on politics and bubblenomics
Financial Times
Just before the shale gas industry was blessed as good in the president’s State of the Union address last week, it admitted it was broke.
http://jlne.ws/zSSptq

**JK - A 101 lesson in supply/demand.

Wyo. gov says changing wind energy tax unlikely
AP
Gov. Matt Mead says he's given up hope that the Wyoming Legislature this year will roll back state tax increases on wind energy production and construction of wind energy projects.
http://jlne.ws/z83s5O

**JK - A lesson in politics. According the the National Mining Association "Wyoming ranks #1 in the nation in coal production and #13 in the nation in coal use" and C"coal provided 92.8 percent of Wyoming’s electric power generation in 2009."

Energy Tax Breaks Proposed, Despite Waning Support for Subsidies
The New York Times
Assisted by technological innovation and years of subsidies, the cost of wind and solar power has fallen sharply — so much so that the two industries say that they can sometimes deliver cleaner electricity at prices competitive with power made from fossil fuels.
http://jlne.ws/A67nZD

Solar CEOs Predict Boom in China Will Ease Glut in 2012: Energy
Bloomberg
China may double its installations of solar panels this year, absorbing excess production that depressed prices and margins in 2011, chief executive officers from two of the industry’s top five manufactures said.
http://jlne.ws/A1x2RZ

EPA Rejects Palm-Oil Based Biodiesel for Renewable Fuels Program
Bloomberg
The Environmental Protection Agency said that biodiesel made from palm oil doesn’t meet the requirements to be added to its renewable fuels program because its greenhouse-gas emissions are too high.
http://jlne.ws/zXoqmR

How to Manage U.S. Forests, Version 3.1
The New York Times Green blog
In the high-tech world, new versions of programs are released to fix new bugs. In the federal regulatory world, new versions of management blueprints are released to address legal problems. Each is generally judged by a simple metric: did the fixes work, or will they have to be redone?
http://jlne.ws/yCB4Cf

Firms unsure of legal duty to report emissions
Business Green
A third of companies are unsure of their legal carbon reporting requirements, a study has shown.
http://jlne.ws/xkYk13

AEP Reports 2011 Fourth-Quarter And Year-End Earnings, Brings Clarity To Regulatory Issues, Strengthens Balance Sheet

Press Release

American Electric Power (NYSE:AEP) today reported 2011 year-end earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $1.941 billion or $4.02 per share, compared with $1.211 billion or $2.53 per share in 2010. Ongoing earnings (earnings excluding special items) for 2011 were $1.504 billion or $3.12 per share, compared with $1.451 billion or $3.03 per share in 2010.

http://jlne.ws/zqjs2E

US

Exxon selling Japanese subsidiary in $3.9B deal
AP
Exxon Mobil Corp. says it is selling its Japanese subsidiary to partner company TonenGeneral Sekiyu K.K. in a deal valued at $3.9 billion.
http://jlne.ws/wlBJjw
**repeats in Asia

American Lawmakers Warned of Emerging Nuclear Power Market Risks and China’s Possible Domination
Press Release
Cleantech analyst firm Kachan & Co. was among a number of voices in Washington this week advocating American lawmakers support new safer, cleaner nuclear power options in the face of growing Chinese enthusiasm for the technologies.
http://jlne.ws/Alx2BA

Better Place’s Ofer Sees 2015 as Tipping Point for Electric Cars
Bloomberg
Better Place LLC, a U.S. startup developing charging stations for electric vehicles, expects the “tipping point” for its business to come as soon as 2015, Chairman Idan Ofer said at the World Economic Forum in Davos. Switzerland today.
http://jlne.ws/yOLXJX

NextEra Sees Opportunities For Renewable-Energy Asset Purchases
Bloomberg
NextEra Energy Inc. (NEE) is optimistic there will be “additional opportunities” to make renewable- energy asset acquisitions, Chief Financial Officer Moray Dewhurst said today during a conference call with investors.
http://jlne.ws/x2DbfR

Midwest utility to shut coal-burning power plants
Akron Beacon-Journal
FirstEnergy Corp. on Thursday said it will retire six coal-fired power plants, including four in Ohio, because of stricter federal anti-pollution rules.
http://jlne.ws/zPlHQW

Canada

Just Energy Group Inc. to Begin Trading on the New York Stock Exchange on January 30, 2012

Press release

Just Energy Group Inc. CA:JE +1.03% is pleased to announce that its common shares have been approved for listing and trading on the New York Stock Exchange ("NYSE") commencing on January 30, 2012 under the trading ticker symbol "JE". The Company's common shares will continue to be listed for trading in Canada on the Toronto Stock Exchange under the same symbol.

http://jlne.ws/zpFbsQ

Encana named to 2012 Global 100 Most Sustainable Corporations list

Press Release

Encana has again been named to Corporate Knights Magazine’s Global 100 World Leaders in Clean Capitalism list, which was officially unveiled in Davos, Switzerland on January 25, 2012. Based on its 2011 environmental, social and governance performance, Encana ranked 76th overall, and is one of only six Canadian companies included on the 2012 Global 100 list.

http://jlne.ws/xMTNDx

Europe

Spain Suspends Subsidies for New Renewable Energy Power Plants
Bloomberg
Spain halted subsidies for renewable energy projects to help curb its budget deficit and rein in power-system borrowings backed by the state that reached 24 billion euros ($31 billion) at the end of 2011.
http://jlne.ws/zuoWaq

Austria ponders upping Kyoto purchase plan
Point Carbon
Austria is contemplating buying more U.N.-backed carbon credits to help it get back on track to meeting its Kyoto Protocol emissions target, a senior environment ministry official said.
http://jlne.ws/yfxAlq

David Cameron's eco-friendly image risks 'retoxification', warns WWF chief
Guardian
The head of the charity that helped arrange David Cameron's memorable husky photoshoot in the Arctic, launching the Conservatives' rebranding as the nice-not-nasty party, has warned that the PM's lack of leadership on environment issues risks "retoxifying" their image.
http://jlne.ws/w5vgfY

Asia

Exxon selling Japanese subsidiary in $3.9B deal
AP
Exxon Mobil Corp. says it is selling its Japanese subsidiary to partner company TonenGeneral Sekiyu K.K. in a deal valued at $3.9 billion.
http://jlne.ws/wlBJjw
**repeats in US

India Government to Set Up Solar Firm
The Wall Street Journal
India is setting up a company with initial capital of 20 billion rupees ($405.6 million) to build federal solar projects and help the country reach a target of 20 gigawatts of solar energy capacity by 2022, a top government official said.
http://jlne.ws/Au6j4Y

EMN - January 27, 2012

2012-01-30T16:01:00.001-06:00

Quote of the Day

"[Fracking] obviously calls to mind other less socially polite terms, and folks have been able to take advantage of that."

Kate Sinding, a senior attorney at the Natural Resources Defense Council who works on drilling issues in the AP's "No energy industry backing for the word 'fracking'"

Lead Stories

California and Quebec to link emissions trading systems
Recharge
California plans to link its emerging cap-and-trade system with that of Quebec this year under the auspices of the Western Climate Initiative (WCI), but challenges remain as allowances trade at record lows.
http://jlne.ws/x9kJzL

Obama Unveils Energy Plans
WSJ.com
Working to advance his "all of the above" energy strategy, President Barack Obama on Thursday embraced natural gas as a transportation fuel, saying it is cleaner and cheaper than oil, and much more abundant inside the U.S.
http://jlne.ws/xRH4Uq
**JK - Dusting off the Pickens Plan.

No energy industry backing for the word 'fracking'
AP
A different kind of F-word is stirring a linguistic and political debate as controversial as what it defines.
http://jlne.ws/wAvSfm

'Carbon floor price' plans dealt a blow by MPs
guardian.co.uk
Government plans to prop up the price of emitting carbon dioxide for businesses have been dealt a blow by MPs, who have blasted the proposals as a handicap to British companies.
http://jlne.ws/yxrulw

EU carbon too cheap, no mention of intervention: draft
Reuters
European Union carbon allowances are far too cheap to encourage increased environmental investment, a leaked EU draft seen by Reuters said, but it stopped short of calling for the market intervention politicians and energy companies argue is urgently needed.
http://jlne.ws/xRgZL3

World Bank sees carbon finance role for years
Reuters
The World Bank's carbon finance initiatives will likely be needed for at least five years, as the United Nations struggles to create a self-sufficient, international carbon market, the manager of the bank's carbon finance unit told Reuters.
http://jlne.ws/yFr5FH

No chance for climate deal unless firms join push: UN
AFP
The world has no chance of sealing an emissions cut deal unless companies lobby their governments for an accord, the UN climate chief told the global business elite in Davos on Thursday.
http://jlne.ws/AuvUuT

South Korea To Establish Think Tank On Green Technology
Bernama
South Korea will establish a research institute devoted to developing environmental technology as part of its efforts to spur the "green growth" drive at home, Xinhua news agency reported quoting a Presidential committee on Green Growth.
The Green Technology Center will be founded in March to support research and development efforts in green growth and help promote global cooperation in developing environmental technology.
http://jlne.ws/AtyWD8

EEX launches Incentive Scheme on the Natural Gas Spot Market
European Energy Exchange: Press Release
The European Energy Exchange (EEX) consistently pursues its growth strategy and reinforces the expansion of its Natural Gas Spot Market with a new incentive scheme. This model creates volume incentives for trading participants and aims at further increasing liquidity on the exchange. In 2011, the trading volume on the EEX natural gas market increased by 25 precent year-on-year, the Spot Market volume increased by 54 percent.
http://jlne.ws/zmnLi2

EEX opens Office in Brussels
European Energy Exchange: Press Release
Yesterday, the European Energy Exchange (EEX) officially opened its political representation in Brussels with a New Year reception. This presence in the heart of the European Quarter is intended, in particular, to expand contacts with the European institutions and intensify the exchange of opinions. Thus, the Brussels offices takes account of the high significance which political decisions of the EU have for the further integration of the European energy markets.
http://jlne.ws/A4sfRU

CME Group Announces Trading Volume Record in Henry Hub Natural Gas Futures
Press release
CME Group, the world's leading and most diverse derivatives marketplace, today announced a record in daily trading volume for its benchmark Henry Hub Natural Gas futures contract. These contracts are listed by and subject to the rules of NYMEX.
Henry Hub Natural Gas trading volumes surged yesterday to 824,316 contracts, a 48 percent increase over the previous record of 557,179 set on January 17, 2012, and a 170 percent increase over the average daily volume of 305,017 contracts in 2011.
http://jlne.ws/wz1ToG

In China, Human Costs Are Built Into an iPad
The New York Times
The explosion ripped through Building A5 on a Friday evening last May, an eruption of fire and noise that twisted metal pipes as if they were discarded straws.
http://jlne.ws/xaW7Cl

Apple, Electronics and Environmental Ills
The New York Times
In an article in Thursday’s Times, my colleague Charles Duhigg and I detail the human cost of producing some of the world’s most popular gadgets in an investigation into labor conditions at the plants of some of Apple’s suppliers in China.
http://jlne.ws/yb7gE3

Solar CEOs Predict Boom in China Will Ease Glut in 2012: Energy
Bloomberg
China may double its installations of solar panels this year, absorbing excess production that depressed prices and margins in 2011, chief executive officers from two of the industry’s top five manufactures said.
http://jlne.ws/A1x2RZ

Renewables From Vestas to Suntech Plan Profit Without Subsidy
Bloomberg
Renewable energy companies are approaching the point where they can generate electricity at a price competitive with fossil-fuels without subsidies, the biggest wind and solar manufacturers said.
http://jlne.ws/A3ltdl

US

Chevrolet to buy VERs to meet 8 MT CO2 reduction goal
Point Carbon
Four offset projects selected by U.S. automaker Chevrolet to help it meet its voluntary emission reduction goal to slash 8 million tonnes of CO2e within five years have completed the validation stage and can now issue credits.
http://jlne.ws/yQfxzg

U.S. Wind-Turbine Installations Rose 31% in 2011, AWEA Says
Bloomberg
Developers installed wind turbines with capacity of 6,810 megawatts in the U.S. last year, 31 percent more than in 2010, as they rushed to qualify for a federal-tax grant that expired last month, according to an industry group.
http://jlne.ws/wr6JYc

In Colorado, Obama goes from gas to green
The Hill's E2 Wire
Just hours after calling for expanded oil and natural gas production in Nevada, President Obama traveled to Colorado to extend an olive branch of sorts to his environmentalist base.
http://jlne.ws/zjxdHm

Waxman: GOP 'so stupid' to include Keystone pipeline in payroll tax package
The Hill's E2 Wire
A senior Democrat on the payroll tax conference panel had some strong words Thursday for Republicans hoping to attach Keystone pipeline language to the package.
http://jlne.ws/zjxdHm

New Forest Planning Rule Seeks to Restore the Nation's Forests
Ecosystem Marketplace
Agriculture Secretary Tom Vilsack today signaled the U.S. Department of Agriculture’s intent to issue a new planning rule for America’s 193-million acre National Forest System that seeks to deliver stronger protections for forests, water, and wildlife while supporting the economic vitality of our rural communities, by releasing online a Final Programmatic Environmental Impact Statement (PEIS) for the National Forest System Land Management Planning Rule. Today’s action honors the commitment made by Secretary Vilsack in his 2009 speech on forest management, and by the President in the America’s Great Outdoors Report.
http://jlne.ws/AmpFJ1

Canada

Canada's Harper Vows to Speed Up Energy Projects
Wall Street Journal
Canadian Prime Minister Stephen Harper on Thursday said the country's capacity to export energy is a national priority and pledged to speed regulatory approval of energy projects—a move that comes as Ottawa struggles with delays over an oil pipeline.
http://jlne.ws/yZh4aS

Oilsands 'allies' and 'adversaries' named in federal documents
CBC
The federal government considers the media, the biodiesel industry and environmental and aboriginal groups "adversaries" in its attempt to advocate for Alberta's oilsands, according to documents obtained under access to information legislation.
http://jlne.ws/A5bTZk

Canada plays down embarrassing oil sands document
Reuters
Canada disassociated itself on Thursday from an embarrassing official policy paper that said the country's independent energy regulator, now studying a controversial oil pipeline, is in fact a government ally.
http://jlne.ws/xLpTEO

Chilly Reception Awaits U.S. Energy Companies in Canada
Former CIBC Chief Economist Jeffrey Rubin on Huffington Post
On the same day the Obama Administration put the kibosh on the Keystone XL pipeline, two engineering contracts totaling $12.2 billion were awarded to two U.S. companies for work in the Alberta oil sands. One included a $750 million contract to a Chicago-based company for work on Exxon's huge Kearl Oil Sands project, one of the largest it has anywhere in the world.
http://jlne.ws/xDIBoL

Europe

EEX executes second Lithuanian EUA Auction
European Energy Exchange: Press Release
Today, the second primary market auction of EU Emission Allowances (EUA) on behalf of Lithuania took place on the Spot Market of the European Energy Exchange in accordance with the agreement signed by the Ministry of the Environment of the Republic of Lithuania and EEX on 28 November 2011.
http://jlne.ws/zLdeb7

Broker CarbonDesk raises cash, cuts staff to stay afloat
Point Carbon
Troubled London-based CO2 brokerage CarbonDesk has shed staff and raised 368,000 pounds in a bid to help it emerge from administration by the end of February, the firm's co-founder said on Thursday.
http://jlne.ws/ACya4I

German Solar Rush Is Predicted by Breil as Lawmakers Put Off Subsidy Cuts
Bloomberg
Germany may see a rush of solar panel installations in the coming weeks after lawmakers from Chancellor Angela Merkel’s coalition failed to agree on an overhaul of the country’s clean-energy subsidy system.
http://jlne.ws/y6Wk0j

U.K. Lawmakers Threaten to Ground Non-Carbon Compliant Planes
Bloomberg
Airlines using U.K. airspace should be grounded if they refuse to comply with the European Union’s greenhouse-gas emissions-trading system, according to a panel of lawmakers.
http://jlne.ws/AuYvZf

UK ranks top risks posed by climate change
The Age
Coastlines, working patterns and even the country's most famous meal are under threat from climate change, Britain says in its first-ever national assessment of the likely risks.
http://jlne.ws/ypLnYR

Asia

Nuclear Reactors in Japan Examined
Wall Street Journal
OI, Japan—Japan on Thursday welcomed an International Atomic Energy Agency delegation it invited to check safety procedures at its third-largest nuclear-power plant, a move designed to pave the way for the restart of dozens of idled reactors around the country.
http://jlne.ws/xBw0ED

Japanese sell more solar power back to utilities
Reuters
Japanese small solar panel owners - householders and small businesses - sold 50 percent more power to utilities last year than in 2010, Reuters calculations based on an official data showed on Wednesday.
http://jlne.ws/ygRKiX

Africa/Middle East

Jordan to Name Red Sea Water Project Winner in March, Times Says
Bloomberg
Jordan will name the company chosen to carry out a water desalination project from the Red Sea to the Dead Sea in March, the Jordan Times reported.
http://jlne.ws/y81Fq1

EMN - January 26, 2012

2012-01-30T15:49:00.002-06:00

Quote of the Day

“I really do believe that a common international framework around all these things must be the aim to bring us the scale and the urgency we need. Not that I don’t believe in the market, but it matters whether you have common rules or not.”

Connie Hedegaard, E.U. commissioner for climate action, in The New York Times' "Davos 2012: Signs of New Life as U.N. Searches for a Climate Accord"

Lead Stories

Guangdong Carbon Program to Be China’s Largest, New Energy Says
Bloomberg
A program to curb the increase of greenhouse gas emissions in China’s Guangdong province will probably be the largest of the nation’s seven test climate- protection systems, according to Bloomberg New Energy Finance.
http://jlne.ws/Au3ml1

Pilot Carbon Emissions Trading System Readied in PRC
ADB Press Release
The Asian Development Bank (ADB) will help the People’s Republic of China (PRC) set up a pilot provincial emissions trading system that could pave the way for a national scheme and lower greenhouse gas emissions in the country.
http://jlne.ws/wsExh7

Signs of New Life as U.N. Searches for a Climate Accord
The New York Times
Critics and supporters alike agree that the U.N. forum for negotiating international climate change policies is an ungainly mess, its annual gatherings marked by discord, disarray and brinkmanship.
http://jlne.ws/yUzXuy

Denmark to Stimulate Discussion on EU 2030 Climate Goal in March
Bloomberg
Denmark, which holds the European Union rotating presidency, seeks to stimulate a debate on future greenhouse-gas reduction goals in March to prevent further declines in carbon prices after they dropped to a four-year low.
http://jlne.ws/zqRyJQ

Is The Booming Natural Gas Industry Overproducing?

NPR

The practice of hydraulic fracturing — pumping fluid into underground rock to push up natural gas — has its detractors, especially among environmentalists. But it's becoming clear that whatever its drawbacks, "fracking," as it's called, is producing a lot of gas — maybe too much gas.

http://jlne.ws/A8Dej9

Obama Backs Natural-Gas Fracking to Add 600,000 Jobs, Vows Safe Drilling
Bloomberg
President Barack Obama pushed drilling for gas in shale rock and support for cleaner energy sources to boost the economy in his final State of the Union address before facing U.S. voters in November.
http://jlne.ws/wLkw2U

US: 'Serious' Questions On Pipeline Bill
AP
A Republican bill that would strip President Barack Obama of his authority to decide on a Canada-to-Texas oil pipeline raises serious legal questions, the State Department said Wednesday in objecting to the bill.
http://jlne.ws/wZ4tJV

Opinion: A brighter energy future?
Robert J. Samuelsohn - Washington Post
A week after President Obama denied the application for the Keystone XL pipeline — which would carry oil from Canada’s tar sands deposits in Alberta to U.S. refineries along the Gulf of Mexico — it’s time for an energy reality check. What does the future hold? It may be better than you think. That’s one message from the U.S. Energy Information Administration’s latest “Annual Energy Outlook,” which projects the supply and demand for fuels through 2035.
http://jlne.ws/w87qbr

Updated: The State of the Union, With the Future in Mind
The New York Times Dot Earth blog
It would be impossible to talk about a durable path for the country without talking about pursuing educational excellence, nurturing a culture of innovation and collaboration and building an energy menu that can foster progress through this century without overloading the atmosphere with greenhouse gases. That means mentioning the “C word” (which didn’t make it into last year’s address).
http://jlne.ws/z5lsUU

Obama wants a “clean energy standard.” What does that mean?
Ezra Klein Wonkblog in Washington Post
In his State of the Union address, President Obama noted that a climate bill can’t pass Congress: “The differences in this chamber may be too deep right now.” But he did ask lawmakers for “a clean energy standard that creates a market for innovation.” Is that a close substitute? And could it pass?
http://jlne.ws/yfYOI9

Fracking complicates the climate debate: John Kemp
Reuters
Hydraulic fracturing and horizontal drilling have laid to rest concerns about peaking oil and gas supplies for a generation, but they have also made the search for comprehensive policies to restrain greenhouse gas emissions more urgent.
http://jlne.ws/ztvVFN

N2EX welcomes Drax Power Limited
Press Release
N2EX, the UK power market offering, operated by NASDAQ OMX Commodities and Nord Pool Spot, has welcomed its 35th member – major electricity generator Drax Power Limited. Drax, which currently generates 7% of the UK’s electricity, is the most recent of the country’s key power generators to join the N2EX market.
http://jlne.ws/yzhsU4

US

Wind Energy Subsidy May Be Renewed After U.S. Election, Adviser Says
Bloomberg
The U.S. probably will extend incentives for the wind energy industry regardless of whether President Barack Obama or the Republicans win the election in November, a former adviser to the Senate Finance Committee said.
http://jlne.ws/z5v19M

Ceres Plans to Raise as Much as $132 Million in IPO Next Month
Bloomberg
Ceres Inc., a U.S. seed maker, plans to raise as much as $132 million in an initial public offering to expand output of genetically modified crops used in the production of biofuels.
http://jlne.ws/w4kWQQ

Baltimore taps Bloom Energy to potentially trim power costs

Baltimore Business Journal

The city’s Board of Estimates approved Wednesday a non-disclosure agreement with Bloom, best known for its mini “Bloom Box.” The energy-efficient boxes can power buildings from inside rather than from a power grid.

http://jlne.ws/ywsrzp

ClearEdge Power lands world’s largest utility fuel cell deal

Cleantech News

Fuel cell maker ClearEdge Power has scored the mother of all utility deals: a 50 MW, $500 million deal with Austrian utility Güssing Renewable Energy. http://jlne.ws/zf9ev8
**This trumps the Bloom Energy deal in Delaware and Baltimore, combined.

AEP SWEPCO Signs Wind Power Purchase Agreements for 359 Megawatts

PR Newswire

American Electric Power (NYSE: AEP) subsidiary Southwestern Electric Power Co. (SWEPCO) has signed long-term power purchase agreements for a total of 358.65 megawatts (MW) of renewable energy from wind projects in Texas, Oklahoma and Kansas. Together with a 49.2-MW agreement signed by the Oklahoma Municipal Power Authority, SWEPCO and its affiliates have exceeded the 400-MW renewable energy commitment in a recent settlement of legal issues involving the John W. Turk Jr. Power Plant.

http://jlne.ws/ymsOPR

California tries new court to move ahead on Low Carbon Fuel Standard
Platts
The California Air Resources Board has shifted to a new court in an attempt to win a stay of a decision halting its Low Carbon Fuel Standard, after being denied its motion by a judge Monday, a CARB spokesman said Tuesday.
http://jlne.ws/xgohMU

Editorial: Jennifer M. Granholm: Former Michigan governor supports clean air standards
Mercury News
This month, federal agencies held three public hearings around the country, including one in San Francisco this week, on a proposed rule to increase corporate fuel efficiency (CAFÉ) standards to 54.5 miles per gallon by 2025. When finalized in the summer, this strong national standard will save families in California and across the country thousands of dollars at the pump over a vehicle's lifetime, reduce U.S. dependence on foreign oil and help to significantly reduce harmful carbon emissions. The standard will strengthen our nation's security and empower American businesses and workers to compete in the 21st century.
http://jlne.ws/yh4yhz

Stockton: center of clean technology?
Central Valley Business Journal
Quietly, without many of its citizens perhaps noticing, the Central Valley city of Stockton is becoming a hub for clean technology, says Jared Blumenfeld, regional administrator of the U.S. Environmental Protection Agency.
http://jlne.ws/zMGlcx

Canada

TransCanada, developer of controversial pipeline, boosts lobbying spending

iWatch News

TransCanada, the pipeline company pushing the recently rejected Keystone XL project, spent $410,000 on federal lobbying during the last three months of 2011 – a new quarterly high for the company.

http://jlne.ws/we9J58
**JK - Is that all they spent? No wonder it didn't pass. DC favors are expensive boys.

Canada backs off on research into icebound energy reserves

Montreal Gazette

Research in gas hydrates — methane reserves trapped in ice under the oceans — has slowed in Canada while other countries are moving ahead quickly with it." http://jlne.ws/wp3K0x

CORE BioFuel Inc. Announces Secured Investment For its "Green Gasoline"

Harry Tournemille - Energy Boom

Osprey Capital Partners Inc. is securing equity investment capital [pdf] for CORE, which will enable the biofuels company to define a fixed plant cost through an Engineering, Procurement, and Construction (ECP) contract with an international oil/gas engineering company.

http://jlne.ws/wxvtXh

Europe

Alpiq’s CO2 trading desk under threat as jobs cut
Point Carbon
Carbon trading at Swiss power company Alpiq is at risk of being scaled back after the company announced job cuts in its energy trading business, a company spokesman said Wednesday.
http://jlne.ws/zDI65M

Germany’s Solar Subsidies at Stake as Ministers Clash Over Cuts
Bloomberg
Germany’s solar subsidy program, the subject of dispute between two ministers in Chancellor Angela Merkel’s Cabinet, will take shape today as lawmakers debate support for developers in Europe’s biggest renewables market.
http://jlne.ws/ybGsjG

RBS to Lend More Than $466 Million to Support ‘Robust’ Renewables
Bloomberg
Royal Bank of Scotland Group Plc said its loans to U.K. renewable-energy projects in 2012 will probably top last year’s 300 million pounds ($466 million) on expectation the industry will withstand slower economic growth.
http://jlne.ws/ylevds

Greece auctions 1 mln EUAs at 7.27 euros each
Point Carbon
Greece sold 1 million EU Allowances for 7.27 euros each on Wednesday in the latest emissions permit auction held by the financially troubled country.
http://jlne.ws/AuOYVw

Ukraine reveals Japanese buyers of its AAUs
Point Carbon
A Ukrainian government report on Wednesday named six Japanese trading companies it sold 14 million Kyoto emission permits to in 2009, the first time the buyers have been identified.
http://jlne.ws/zLfaJ6
**repeats in Asia

Asia

Green groups query 'drill now, pay later' scheme
The Age
TAX breaks to fossil fuel companies should be scrapped and the money put towards ocean protection, environmentalists have said, warning that a boom in offshore gas and oil investment will put pressure on Australia's marine environment.
http://jlne.ws/ytOOkj

Ukraine reveals Japanese buyers of its AAUs
Point Carbon
A Ukrainian government report on Wednesday named six Japanese trading companies it sold 14 million Kyoto emission permits to in 2009, the first time the buyers have been identified.
http://jlne.ws/zLfaJ6
**repeats in Europe

Africa/Middle East

Carbon tax warning from heavyweight lobby group

Biz Community

According to Engineering News Online an industry lobby group comprising large mining groups and mineral processing companies such as Anglo American, AngloGold Ashanti, BHP Billiton, Exxaro, PPC, Rio Tinto and Xstrata is cautioning against the proposed introduction of a carbon tax in South Africa until the country has figured out the costs implications of implementing its renewable-energy heavy power generation plans.

http://bit.ly/vZwEiE

Latin America

Is Brazil Backsliding on Deforestation?
NYTimes.com
Alexei Barrionuovo reports on growing signs that the Brazilian government may be softening its stand against deforestation, including a provisional measure that allows the president to reduce the amount of land set aside for conservation and proposed legislation to change the forest code.
http://jlne.ws/zLcyZW

EMN - January 25, 2012

2012-01-25T17:57:00.001-06:00

Quote of the Day

“This is a good example of markets taking responsibility and responding on current issues.”

Sweden’s minister for information technology and energy Anna- Karin Hatt in Bloomberg's "Green Bond Underwriters From Japan to Sweden Top U.S. in $7 Billion Market"

Lead Stories

Green Bond Underwriters From Japan to Sweden Top U.S. in $7 Billion Market
Bloomberg
Skandinaviska Enskilda Banken AB (SEBA) and Daiwa Securities Group Inc. have underwritten the most green bonds since the securities were first issued in 2007, indicating the dominance of Swedish and Japanese banks in the market.
http://jlne.ws/y9dJ7A
**JK - What's the Swedish/Japanese mash-up for "green bond?"

Gridlock likely, ‘grand bargain’ possible, for US environmental policy in 2012 – Van Ness

Environmental Finance

Such a grand bargain – while unlikely in 2012 – would have implications for the expiration of the production tax credit for wind energy, of the tax credit for cellulosic ethanol, and extension of the Section 1603 grant programme, which has supported renewable energy, Van Ness Feldman says.

http://jlne.ws/x23AVO
**JK - I'll go out on a limb and lean toward gridlock.

EU launches attempt to deliver shipping emissions trading scheme
Business Green
The EU is asking for views on how best to reduce greenhouse gas emissions from shipping in a move that could pave the way for the sector to follow aviation into the bloc's carbon trading scheme.
http://jlne.ws/zpyH0t
**JK - Do you think it'd help if Brussels' bureaucrats used sailing terms in the language. "Bringing CO2 credits to port. And hoist the CO2 credits!" Or just serve A LOT of rum.

Canadian oilsands firms ranked among world’s most sustainable companies
Postmedia News
Despite talk of Canada’s "dirty oil," in a report ranking the world’s 100 most sustainable big companies, four of the six Canadian entries have some kind of connection to the oilsands.
http://jlne.ws/xMUX2Q
**repeats in Canada

Canada-China energy link a 'win-win'
Winnipeg Free Press
China wants to forge a "win-win" energy partnership with Canada that would set an example for the world while also satisfying its "huge" demand for resources.
http://jlne.ws/wqoi9c

**repeats in Canada

China considers Canada's energy exports 'win-win'
Canadian Press
China wants to forge a "win-win" energy partnership with Canada that would set an example for the world, while also satisfying its "huge" demand for resources.
http://jlne.ws/wp5Etc

Iberdrola to Spend $3.4 Billion on U.K. Grid to Boost Wind
Bloomberg
Iberdrola SA (IBE), the world’s biggest investor in wind parks, will spend 2.6 billion pounds ($3.4 billion) upgrading its U.K. electricity grid to handle more power from turbines and curb power costs to consumers.
http://jlne.ws/wk7BSx

Storage Key to ‘Round-the-Clock Solar,’ Idealab’s CEO Gross Says
Bloomberg
Storing solar- and wind-generated energy may prove nearly as important as creating it, according to the chairman and chief executive officer of Idealab, a technology venture-capital firm.
http://jlne.ws/zs6CpA

Wasting the Wastewater
The New York Times Green blog
Each day, American municipalities discharge enough treated wastewater into natural sources to fill Lake Champlain within six months. Growing pressure on water supplies and calls for updating the ancient subterranean piping infrastructure have brought new scrutiny to this step in the treatment process, which is labeled wasteful and unnecessary by a spectrum of voices.
http://jlne.ws/zKSBK4
**JK - I still can't believe it when I hear that some cities, STILL have and use hollowed-out logs from the 1800s as water pipes.

Not All Wetlands Are Created Equal
The New York Times Green blog
To many, it’s a familiar scenario: a strip mall suddenly pops up in what was once a desolate quagmire or boggy boondock.
http://jlne.ws/AzQaVx

US

L.A. has a coal problem
Los Angeles Times
When protesters were arrested at the management offices of a huge coal-fired power plant in Arizona in December, it highlighted a very untidy fact about electricity in green-conscious L.A.: about half of it comes from coal.
http://jlne.ws/wPRONI

Chesapeake to Cut Number of Gas Rigs
The New York Times
Chesapeake Energy, the nation’s second biggest natural gas producer, announced Monday that it would cut production of gas in response to plummeting prices.
http://jlne.ws/y09EzJ

Energy Turbines May Be Spinning in New York’s East River by 2013
Bloomberg
The currents of New York City’s East River may soon be harnessed to produce electricity that can be sold to Consolidated Edison Inc. (ED) or the New York Power Authority.
http://jlne.ws/AfROKo

Berkshire’s MidAmerican Creates Renewables Unit, Led by Fehrman
Bloomberg
Berkshire Hathaway Inc. (BRK/A)’s energy unit established a new business to aid investments in unregulated renewable generation, including wind, geothermal, solar and hydroelectric projects.
http://jlne.ws/xgYVt4

Climate Change Threatens California Economy by Changing Ecosystems
Press Release
Climate change is likely to harm California's economy by reducing the types of natural, non-irrigated vegetation available for livestock forage and the ability of forest ecosystems to store carbon dioxide, according to a peer-reviewed study published in the scientific journal Climatic Change. The ability of ecosystems to store carbon dioxide is a key part of implementing the state's climate law, the Global Warming Solutions Act, also known as Assembly Bill 32 or AB 32.
http://jlne.ws/yvLl5p

THE STUDY:
The Impact of Climate Change on California’s Ecosystem Services
http://jlne.ws/wU524x

Canada

Canadian oilsands firms ranked among world’s most sustainable companies
Postmedia News
Despite talk of Canada’s "dirty oil," in a report ranking the world’s 100 most sustainable big companies, four of the six Canadian entries have some kind of connection to the oilsands.
http://jlne.ws/xMUX2Q
**repeats in Leads

Canada doesn’t have enough workers to tap the oil sands, and the shortage is getting worse
Financial Post
This is almost hard to believe from an American perspective, but the biggest obstacle to growth in the Canadian oil sands is a labor shortage.
http://jlne.ws/xUdu85

Canada pulls back on research into icebound energy reserves
Ottawa Citizen
Research in gas hydrates — methane reserves trapped in ice under the oceans — has slowed in Canada while other countries are moving ahead quickly with it.
http://jlne.ws/z6MPfZ

Europe

Solar feed-in tariff appeal judgment set for tomorrow
Business Green
The Department of Energy and Climate Change (DECC) has refused to rule out further legal action if it fails to win an appeal tomorrow over its plans to rush through deep cuts to solar subsidies, potentially prolonging uncertainty over the future of the feed-in tariff scheme.
http://jlne.ws/x47xbE

Set-aside may not be agreed before July: Lidegaard
Point Carbon
Denmark’s climate minister said Tuesday he is unsure if enough countries can agree to cut supply of CO2 permits from the bloc’s carbon market under its term as holder of the EU presidency, which expires at the end of June.
http://jlne.ws/xwLnFw

Petroplus closures to cut into EUA demand
Point Carbon
Swiss-based oil refiner Petroplus on Tuesday said it will file for insolvency after shutting five of its six remaining plants over the past year, a move which could cut EU emissions permit demand by more than 4 million units annually.
http://jlne.ws/w9x2Lu

Asia

Peabody Energy Warns of Problems at Australian Mines
Wall Street Journal
Peabody Energy Corp. posted a 5.9% increase in fourth-quarter earnings and warned that coal output would be nearly unchanged this year, saying recently acquired Australian mines aren't up to snuff.
http://jlne.ws/zr94NK

Minister used his own numbers on carbon cost
The Age
ENERGY Minister Michael O'Brien ignored his own department's economic modelling on the impact of the federal carbon tax, instead relying on his own calculations to claim Victoria would be hit ''first and hardest''.
http://jlne.ws/yWVlDd

Doubts cast on 'green' mining
ABC
A new mine on Tasmania's west coast is being hailed as a model for low-impact mining in a sensitive environment but environmentalists remain sceptical. MMG's South Hercules mine on Mt Hamilton is near the Tarkine wilderness, Australia's largest temperate rainforest.
http://jlne.ws/zgD6yM

Africa/Middle East

NTPC Looking at Africa Coal Block Opportunities
Wall Street Journal
State-run power producer NTPC Ltd. is exploring opportunities in Africa to get coal blocks under bilateral pacts between India and mineral-rich countries.
http://jlne.ws/AEvvnj