climate change – Page 8

Analysis-Biden plan to aid Europe with LNG poses risk to US climate goals

April 15, 2022

Reuters WASHINGTON – U.S. President Joe Biden’s plan to expand liquefied natural gas (LNG) shipments to Europe to cut the region’s dependence on Russian fuel risks undermining his administration’s climate goals by encouraging more gas production and increasing emissions, according to climate experts. The issue reflects the tricky balance the White House must strike between global energy security issues and longer-term

Joe Manchin opposes SEC climate disclosure rule, says it targets fossil fuel companies

April 4, 2022

CNBC Sen. Joe Manchin said Monday that he is “deeply concerned” about the new climate disclosures proposed by the Securities and Exchange Commission. In a letter to the SEC, the West Virginia Democrat said that the proposals go against the regulatory body’s stated mission, and that such policies will add “undue burdens on companies,” especially in the fossil fuel industry. “The most

Biden poised to use cold-war powers to boost battery metals

March 30, 2022

Bloomberg President Joe Biden is poised to invoke as soon as this week Cold War powers to encourage domestic production of critical minerals for electric-vehicle and other types of batteries, according to people familiar with the matter. The White House is discussing adding battery materials to the list of items covered by the 1950 Defense Production Act — the same

Shell’s board of directors sued for ‘failing to properly prepare’ for the energy transition

March 15, 2022

CNBC Shell’s board is being sued for failing to prepare the multinational oil and gas company for the transition away from fossil fuels. Environmental law firm ClientEarth, a Shell shareholder, said Tuesday that it had notified Shell of its claim against the company’s 13 executive and non-executive directors. It argues the board’s failure to implement a climate strategy that truly aligns with

U.S. senators grill regulators over climate policy on natural gas projects

March 3, 2022

US News WASHINGTON – Top U.S. senators from both parties on Thursday grilled Democratic energy regulators who recently approved guidelines for approving new natural gas projects that allow consideration of environmental justice, landowner and climate issues. The three Democrats on the five-member Federal Energy Regulatory Commission (FERC) voted in February to update the guidelines, for the first time since 1999,

EXCLUSIVE U.S. climate envoy Kerry names Rick Duke as deputy

February 7, 2022

Reuters WASHINGTON, Feb 7 – U.S. Special Climate Envoy John Kerry has nominated one of his senior advisors, Rick Duke – the architect behind an international deal last year to reduce emissions of the greenhouse gas methane – to be his deputy. In a statement to Reuters, Kerry said Duke will play a leading role in implementing U.S. commitments under

Russia warns of power price spike if energy transition is hasty

February 2, 2022

Nasdaq MOSCOW, Feb 2 – A rushed transition away from fossil fuels risks driving electricity prices higher, a senior Russian official said on Wednesday, responding to German government comments that an EU carbon tax may make renewables more attractive in Russia. Russian Deputy Energy Minister Pavel Snikkars said Russia was ready to support global efforts against the negative consequences of

McKinsey pegs the cost of net-zero 2050 goals at $9.2 trillion a year

January 27, 2022

World Oil NEW YORK (Bloomberg) –A new analysis from McKinsey & Co. estimates that the investment, in new infrastructure and systems, needed to meet international climate goals could be $9.2 trillion a year annually through 2050. That’s at least $3.5 trillion more a year than the world is currently laying out for both low-carbon and fossil-fuel infrastructure and changes in

Exxon announces ambitious plans for net zero emissions by 2050

January 19, 2022

Oil Now ExxonMobil on Tuesday announced its ambition to achieve net zero greenhouse gas emissions for operated assets by 2050, backed by a comprehensive approach to develop detailed emission-reduction roadmaps for major facilities and assets. The net-zero ambition is contained in the company’s Advancing Climate Solutions – 2022 Progress Report, formerly known as the Energy & Carbon Summary. The net-zero

‘Green’ fuels will cost the consumer — but we need to think long term, Maersk CEO says

January 13, 2022

CNBC The CEO of shipping giant Moller-Maersk admitted to CNBC Thursday that shifting to “green” fuels would come at a cost, but emphasized the importance of focusing on the bigger picture rather than short-term pain. Soren Skou’s comments come a day after his company said it wanted the entire business to reach net-zero greenhouse gas emissions in the year 2040, 10 years

Column: U.S. energy-related emissions likely to rise in 2022 and 2023

January 12, 2022

Reuters U.S. energy-related carbon dioxide emissions are forecast to rise this year and next as strong economic growth overwhelms increases in energy efficiency, deployment of renewables and roll-out of electric vehicles. The anticipated increase in emissions shows the United States is far off track to reach net zero by 2050, despite ambitious statements by top policymakers in the Biden administration. Energy-related emissions are

U.S. greenhouse gas emissions jumped 6.2% in 2021-report

January 10, 2022

Reuters WASHINGTON – U.S. greenhouse gas emissions rose by 6.2% from 2020 levels last year as the use of coal-fired electricity jumped 17% and drivers returned to the roads after the first year of the coronavirus pandemic, according to a report released on Monday. The projected emissions increase shows the U.S. is now further off the target set by the

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