Environmental and climate impacts of Canadian tar sands are much larger than previously considered

The study, published in the journal Nature, proves that the production of tar sands and other heavy oil are a major source of aerosols, which can affect regional weather patterns and increase the risk of lung and heart disease. Heavy oil accounts for 10 percent of global crude oil production worldwide, mostly in Canada.

Saudi Arabia creates $2 trillion investment fund for post-oil era

Saudi Arabia's Deputy Crown Prince Mohammed bin Salman unveiled ambitious plan "Vision 2030" aimed at ending the kingdom's "addiction" to oil and transforming it into a global investment power. The kingdom would raise the capital of its public investment fund (PIF) to 7 trillion riyals ($2 trillion).

Exxon Mobil under climate related investigation

The New York attorney general’s office opened an investigation of Exxon Mobil  to determine whether the company lied to the public about the risks of climate change or to investors about how such risks might hurt the oil business. Many oil companies have funded lobbying efforts and research on climate change, and resisted pressure for years from environmental groups to warn investors of the risks that stricter limits on carbon emissions could have on their businesses.  

After spending $7 billion Shell quit drilling in the Arctic

Royal Dutch Shell announced it will indefinitely suspend its Arctic drilling off the Alaska coast after finding insufficient oil and gas in one of its exploratory wells to justify costly development.

Alberta increases province’s carbon levy to $30 in 2017

Alberta government announced plans to increase province’s carbon levy on January 1 from its current $15 per tonne to $20, before a further hike to $30 in 2017. The hikes will coincide with a near doubling of efficiency targets large polluters must meet. Companies will also be required to reduce emissions by 20 per cent over time, compared with a 12-per-cent target today. 

Why Falling Oil Prices Don’t Hurt Demand for Renewable Energy

Over the last six months, the price of crude oil has fallen by about 40 percent, currently trading below $60 a barrel, the lowest it’s been since 2009. Continuing global production and oversupply mean oil prices could remain low through the winter months and well into 2015.
While it’s true that stocks for some of the more trusted, clean energy investments are being dragged down by dipping oil prices, it doesn’t mean demand for clean energy is also suffering. In fact, as oil prices have tumbled, demand for energy efficiency and renewable energy only keeps growing. Read more >>>
EDF

The Global Energy Security War

In his opening address at the Atlantic Council’s Energy and Economic Summit 2014 in Istanbul (19-20 November), President and CEO Frederick Kempe immediately made it clear the Atlantic Council is playing for high stakes. “Europe is in the middle of an inflection point of its history”, he said. 2014 “is every bit as dramatic as 1815 – the year of Versailles”. Or, he added, 1989, the year of the fall of Communism. “The future of the international liberal order”, said Kempe, “is at stake”. Read more >>>
Energy Post

Good, Bad and Ugly of Lower Oil Prices

The net overall impact of this year’s 28 percent plunge in oil prices is positive for the global economy. But it isn’t universal, and it comes with negative dimensions that need to be well understood, lest they end up reversing the benefits. Read more>>>
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