Shell’s pursuit of ever riskier reserves is at odds with its own climate forecasts. So a Guardian investigation concludes. The company acts as though 4 degrees of warming is inevitable.
“Shell’s Arctic voyage marks beginning of peak oil era”: Telegraph. Andrew Critchlow sees the desperation as a sign that the world is running out of options on oil.
15.5.15.
“Shell says eff you to Seattle”: Grist. Their rig arrives in the port despite the widespread opposition in the city. It is greeted by protestors in kayaks.
Canada reneges on climate commitments in face of soaring tar sands emissions. A new pledge to cut 30% from 2005 levels by 2030, less ambitious than previous goal, is far behind US and EU.
14.5.15.
Fracking could unlock 140 bn barrels of oil worldwide: IHS. The oil-industry think tank says China, Russia, Iran, Mexico stand to gain most.
Continental Resources’ chief vows shale will bounce back. The Saudis might only slow it for six months, Harold Hamm says. Above $70 oil price, up from $61 today, the boom will return.
13.5.15.
Ice shelf the size of Scotland could be at “imminent” risk of collapse. British Antartic Survey reports warm seas causing ice loss below Larsen Ice Shelf.
12.5.15.
El Nino is back: the first event since 2010. So say Australian scientists, fearing intense drought. They say the weather event could be “substantial”.
Pope says environmental sinners will face God’s judgment for world hunger. Francis declares in mass that ‘powerful of the Earth’ have obligation to feed the world and protect environment.
“Russia was right: Shale in Europe has turned out a dud.” So reads a Bloomberg headline. Costs are higher than US, regulation tighter, shale poorer.
12th biggest US coal miner files for bankruptcy. Patriot Coal says that its metallurgical coal business has been crippled by cheap US gas.
Statoil sets up renewable energy division in major corporate shake up. Statoil New Energy Solutions will grow wind assets, and potentially other renewables. Boss reports direct to CEO.
“Can Tesla’s battery hit $1 billion faster than the i-phone?” So Bloomberg asks. Of the $800m reservations in 1st week, 625m came from businesses and utilities. Factory sold out thru 2016.
Edinburgh University rejects divestment citing geological research. Institution’s court says it does not want to restrict “academic freedom” in oil-related research.
Shell’s record in the Arctic adds to anger of environmentalists. Groups cite the company’s accidents in the Arctic in bewilderment. Eni has let its Chukchi Sea lease lapse in face of risk.
11.5.15.
Obama Administration gives conditional approval to Shell for Arctic drilling. Interior Department view depends on Shell receiving approval for a range of permits needed.
$2bn acquisition of US shale driller expected to be the first of many. Noble Energy purchases Rosetta Resources in an all-share deal. Noble shares fall.
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