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katyshannon

Philippines' Typhoon Koppu brings severe floods - BBC News - 0 views

  • Heavy rain and floods are affecting dozens of villages, after Typhoon Koppu swept through the northern Philippines.The slow-moving weather system has killed at least two people and forced tens of thousands from their homes.
  • Koppu has now been downgraded to a severe tropical storm by the Japanese Meteorological Agency, which is responsible for naming and tracking it.However, the Philippines' own weather agency, which calls the weather system Lando, is still characterising it as a typhoon.
  • Despite weakening, Koppu is expected to keep dumping rain on the country for a considerable time to come. Some forecasts suggest it may not be until Wednesday that it moves past the Philippines and on to Taiwan.
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  • Unlike previous tropical cyclones, the threat from typhoon Koppu is not so much from the wind but from the massive amount of rain. More than a metre of rainfall is forecast in just a few days in Luzon province. That is double what London gets in an entire year. In the south of Luzon, it has brought severe flooding with whole villages under water. But perhaps more dangerous are massive landslides. The fear is that with the ground heavy and saturated with water, whole hillsides could collapse.
  • Typhoon Koppu made landfall near the town of Casiguran on the main island of Luzon on Sunday morning, bringing winds of close to 200km/h (124mph) and cutting power to vast areas.
  • A teenager was killed by a fallen tree in Manila which also injured four others. A concrete wall also collapsed in the town of Subic, northwest of Manila, killing a 62-year-old woman, officials said.
  • dawn on Monday, wind speeds were down to 150 km/h (93 mph) in the northern town of Santiago, according to the state weather service.But floodwaters are preventing even military vehicles reaching many of the worst-hit villages, and rescuers report a shortage of boats."We haven't reached many areas. About 60% to 70% of our town is flooded, some as deep as three metres," said Henry Velarde, vice mayor of Jaen, a town in Nueva Ecija province."There are about 20,000 residents in isolated areas that need food and water."
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    Philippines' Typhoon Koppu flooding endangers thousands
Javier E

What The History of Fossil Fuels Teaches Us About Renewable Energy - The Atlantic - 0 views

  • First, the resources. Pretty much all available energy on the earth comes from energy radiated by the sun.
  • The exceptions to the sunlight rule are: geothermal energy, which comes from the very hot core of the earth (often in the form of volcanoes); tidal energy, which is the result of water interacting with the gravity of the earth, moon, and sun; and nuclear energy
  • Some of these resources are renewable, but at the moment, the dominant suppliers of energy to human civilization (the fossil fuels) are not.
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  • Smil’s “prime movers,” which he defines as “energy converters able to produce kinetic (mechanical) energy into forms suitable for human use.” For most of the time that there have been humans on earth, the best prime movers have been people
  • while Smil agrees with pretty much everyone else that the next big energy transition is from nonrenewable to renewable resources, he is cautious about the timing. At one level, the change is plainly inevitable.
  • Things really kicked off with the invention of the steam engine in the 1700s—the first prime mover powered by fuels (100,000W in 1800; 3,000,000W in 1900). This was followed by the steam turbine (75,000W in 1890; 25,000,000W in 1914). The prime-mover revolution is rounded out by the internal-combustion engine in the later half of the 1800s and the gas turbine in the 1930s
  • Smil is concerned with the series of transitions that have occurred throughout human history, both in terms of resources and prime movers. These transitions are somewhat interrelated, but not completely. For example, you can run a steam turbine off of wood, coal, or nuclear power so a transition between those resources does not necessitate a change in prime movers. On the other hand, you can’t feed an internal-combustion engine with wind or wood. At the moment, all of our best prime movers rely heavily on fossil fuels.
  • how prime movers have increased in power over the course of history. Remember that orange lifted to a counter? If you expend that effort over a second, that's 1W (a watt) of work. Smil calculates that the average healthy human can sustain 60W–100W of work throughout a working day. At some point in prehistory, people started yoking domesticated animals (250W–800W depending on the breed). Then came sails, then a few thousand years later, waterwheels (2,000W–4,000W in medieval times) and then a thousand years after that, windmills (1,000W–10,0000W in 1900).
  • Where he does differ is in his opinion about how quickly it can happen. Where Gore calls for a complete conversion to renewables in 10 years, Smil thinks the transition will take generations.
  • The barriers to total conversion—much like the problems that plague our energy infrastructure—are a funny mixture of policy, technology, infrastructure, and physics
  • For example, the possibility that nuclear power might take up any of the load in the U.S. seems extremely low, given that no new plants have been built since the 1970s. That’s not a physics problem, that’s a policy problem.
  • As far as converting to wind and solar, Smil sees much bigger technological and infrastructural hurdles. A switch to renewables means a transition in terms of both resources and prime movers.
  • The character of renewable resources is fundamentally different from that of fossil fuels. Where fuels are highly dense stores of energy and relatively easy to reliably transport, the renewables are characterized by the highly fickle ebbs and flows of nature. Some days are sunny, others have clouds.
  • Energy density is sometimes used to discuss the capacity of volumes of batteries and fuel. Smil is interested instead in measuring energy per unit of the earth’s surface. He uses the figure as a means to try to compare the various means of producing energy and the demands for using it.
  • to measure the energy density of coal, you look at how much energy you get from burning coal and divide that by how much of the earth’s surface needs to be given over to coal production to get it.
  • Because the best way of mitigating the irregularity in how they generate power is to create interconnected grids, an energy regime based on wind and solar needs to lay a lot of power lines through a lot of jurisdictions and permitting regimes. Physics meets infrastructure, and policy. Renewables are simply more diffuse.
  • “Mass adoption of renewable energies would thus necessitate a fundamental reshaping of modern energy infrastructures,” Smil writes. We'd go from harvesting energy from concentrated sources and diffusing it outwards, to gathering energy from diffuse sources and concentrating it inwards towards relatively few centers. This is, fundamentally, a very different way of organizing how we use land.
  • This is not impossible, and in the long run it is probably inevitable. But we underestimate the effort required and changes that will be necessary at our peril.
  • The switch from wood to coal ushered in industrialization which completely upended social-structures and human relationships all over the world. The rise of oil transformed geo-politics, turning some countries into energy superpowers overnight. No one knows how deeply our society might be transformed by the transition to renewables. Or whether we'll be able to do it fast enough.
Javier E

Germany's green energy shift is more fizzle than sizzle - POLITICO - 0 views

  • High power prices, continued coal dependency and a “poor CO2 emissions record” mean Germany is falling behind other countries in shifting away from fossil fuels, according to McKinsey’s new global Energy Transition Index
  • In Europe, 11 countries including Sweden, Austria, Denmark, the U.K. and France do better in cutting coal dependency and greening their energy systems.
  • The European Commission’s latest country assessment, published earlier this month, found that Germany is at “considerable risk” of missing its national energy efficiency target of 20 percent by 2020. For now, it is still expected to meet its 2020 renewable energy target of 18 percent,
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  • enewable power last year surged to 36 percent of the country's electricity use, according to the Agora Energiewende think tank. But while renewables grew in the power sector, they didn't make major strides in transport or heating, so they account for just over 13 percent of energy use.
  • Souring opinions on diesel engines further weigh on emissions. Diesel cars emit less greenhouse gases than those powered by gasoline, which is why the country's politicians and car industry saw diesel as a panacea to deal with global warming.
  • For years Germany was one of the world's energy transformation leaders. It was German cash that helped finance the technology revolution that has turned solar and wind into viable technologies that now generate increasingly cheap power
  • An average four-person household has to pay more than double for power in 2017 compared to 2000,"
  • The powerful German business lobby BDI is also unhappy, saying in a recent report that high electricity costs, delays in boosting the energy efficiency of buildings, and a “lack of vision” on transport are "worrying German industry.”
  • Greenhouse gas emissions in Germany have stagnated for three years in a row, rather than falling. That's largely to do with rising pollution caused by transportation, as well as a failure to reduce emissions in the buildings sector as energy consumption went up thanks to the economic recovery.
  • Germany is also set to fall short of its national climate target of cutting greenhouse gas emissions by 40 percent by 2020. The new coalition government effectively abandoned that goal, instead focusing on meeting its 2030 target of reducing emissions by 55 percent. Germany is also expected to miss its emissions reduction target for sectors such as transport and buildings.
  • But the Dieselgate scandal hammered the reputation of diesel cars, and there is growing concern about the smog that diesel generates. As cities consider banning older diesel cars, sales have fallen off a cliff. The share of diesel-fueled passenger cars in Germany was 39 percent last year, down from about 46 percent in 2016, 
  • "Germany missed bringing electric cars on to roads,
  • "In order to have an energy transition, you have to build up renewable energies, but then you also have to reduce coal, step-by-step,” Kemfert said. "That happened too late in Germany.
  • A lot of Germany's renewable power, especially powerful offshore wind, is generated in the north of the country. The difficulty is getting that electricity to industrial regions in the south like Bavaria.
  • For years Germany annoyed neighbors like the Netherlands, the Czech Republic and Poland by sending surges of electricity through their networks. They've now taken short-term measures to reduce the disruptions until the necessary transmission links are built.
  • domestic opposition is making it difficult for Germany to build its own north-south and other new interconnectors. The project has faced delays as people battle the idea of ugly high-voltage power lines besmirching pretty landscapes. Now much of the interconnector is due to run underground, ramping up costs.
  • Volkswagen's recent pledge to spend €20 billion on battery contracts and to begin making electric cars at 16 sites worldwide shows the car industry is taking steps to shift its business model — which could help secure a long-term drop in Germany's transport emissions.
  • Proponents of a swift coal exit, however, shouldn't hold their breath. Altmaier also said that ending coal power won't "happen suddenly and abruptly, but step-by-step over several decades."
brookegoodman

$2tn US coronavirus relief comes without climate stipulations | US news | The Guardian - 0 views

  • A $2tn US coronavirus relief package will dole out billions to struggling airlines and offer low-interest loans that fossil fuel companies could compete for – without requiring any action to stem the climate crisis.
  • The House is expected to vote on the package on Friday. It also includes nearly $500bn in lending authority that one environment group, Friends of the Earth, called a “corporate slush fund with insufficient guardrails to protect workers, taxpayers and the climate”.
  • In the end, the stimulus package focused on direct aid to individuals and the worst-hit industries, while setting climate considerations aside.
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  • “The provisions we were focused on simply would hold the airlines to what they already said they’re going to do,” Petsonk said. “People do not want to solve one crisis by making another crisis worse.” The 2008 auto industry bailout, in comparison, led to stricter rules for pollution from vehicle tailpipes.
  • “Was this a missed opportunity for climate? I think the answer to that is no,” Segal said. “This stimulus package was primarily about getting money into the hands of individual households and workers and in some service sectors that were particularly hurt.”
  • In one climate win for Democrats, the bill does not include a discussed $3bn to buy oil to fill the Strategic Petroleum Reserve in order to lift global oil prices.
  • “It’s great that [Trump’s son-in-law ] Jared Kushner isn’t going to get a subsidised line of credit. It’s much more worrying in human terms that Chevron, Exxon and every other polluter you can imagine is eligible to be propped up in terms of the stimulus package.”
  • The American Wind Energy Association (AWEA) projects that the US wind industry could lose 35,000 jobs and $35bn in investment. Those losses could lead to lease payment and tax revenue reductions for local and state governments. No tax credit extensions have been granted for the solar and wind industries, meaning they may lose access to credits if they miss deadlines.
  • Democrats negotiated multiple measures meant to prevent abuse of the $500bn available in lending, including an oversight board, a special inspector general and provisions aimed at limiting Donald Trump’s businesses from benefiting – an issue that has already come under scrutiny.
  • He frequently spreads, at best, misinformation and, at worst, lies. But the Guardian is working tirelessly to filter out misinformation and separate fact from fiction.
  • The need for a robust, independent press has never been greater, and with your support we can continue to provide fact-based reporting that offers public scrutiny and gives people the tools to make decisions about their lives, health and security. You’ve read more than 11 articles in the last four months.
brookegoodman

Planning applications for UK clean energy projects hit new high | Business | The Guardian - 0 views

  • The number of new renewable energy projects applying for planning permission reached a four-year high in the UK last year as energy companies raced to meet the rising demand for clean electricity.
  • The jump in applications last year was the biggest annual increase in recent years and 75% higher than the number of annual planning submissions made three years ago. There were just 154 submissions in 2016, rising to 185 in 2017.
  • Planning submissions for clean energy projects are expected to rise in the years ahead due to the government’s decision earlier this month to lift a block against subsidising onshore wind projects that was put in place almost five years ago.
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  • There has been a sharp decline in the number of new onshore windfarms since the block was put in place by David Cameron in 2016. The rollout of new onshore wind capacity fell to its lowest level since 2015 last year, prompting warnings that the UK risked missing its climate targets.
  • The chief executive of Scottish Power, Keith Anderson, said the decision to back onshore wind was “one of the first clear signs that the government really means business” on reaching its climate targets.
  • Fatih Birol, the head of the International Energy Agency, said governments “should not allow today’s crisis to compromise the clean energy transition”.
aidenborst

The Fed will start winding down a program that saved the economy - CNN - 0 views

  • The Federal Reserve announced Wednesday that it will begin winding down a program that purchased tens of billions of dollars of corporate assets to shore up the economy during the pandemic.
  • In a statement, the central bank said the facility was crucial to businesses during the depth of the recession.
  • The program "proved vital in restoring market functioning last year, supporting the availability of credit for large employers, and bolstering employment through the Covid-19 pandemic," the Fed said.
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  • The Fed currently holds $13.7 billion worth of corporate assets, including more than $5 billion of corporate bonds and another $8.5 billion worth of exchange-traded funds.
  • "Portfolio sales will be gradual and orderly, and will aim to minimize the potential for any adverse impact on market functioning," the Fed said.
  • The corporate assets are in addition to another $7 trillion worth of government debt that the Fed said it will continue to purchase to keep the economic recovery humming.
  • The Federal Reserve announced Wednesday that it will begin winding down a program that purchased tens of billions of dollars of corporate assets to shore up the economy during the pandemic.
anonymous

Tornadoes and heavy winds strike five states as storms continue into the Southeast - CNN - 0 views

shared by anonymous on 18 Mar 21 - No Cached
  • Tornadoes struck the Deep South after a line of storms moved through the region Wednesday, part of a system that is expected to continue further into the Southeast and the Eastern Seaboard on Thursday, leaving millions at risk from severe weather conditions.
  • At least 24 preliminary reports of tornadoes across five states were tracked Wednesday
  • with the greatest storm damage apparent in Alabama and Mississippi.
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  • A confirmed "large and extremely dangerous" tornado was spotted near Shelton State Community College just south of Tuscaloosa at 2:45 p.m.
  • At least 37 homes were damaged by storms in in the towns of Moundville and Akron in Alabama's Hale County, according to county emergency manager Russ Weeden. Further east, at least a dozen areas of damage are being investigated in the Birmingham, Alabama area
  • In southwestern Alabama, two people were injured as their home was destroyed by the storm. Four other homes in the area were damaged.
  • A possible tornado that touched down in Wayne County in Eastern Mississippi damaged two homes and left roads blocked due to debris, according to Angela Atchison of Wayne County Emergency Management. No injuries have been reported.The greatest threat of storms Thursday now shifts east to parts of the southeastern US, including Georgia, North Carolina and South Carolina.
  • The northern Georgia and metro Atlanta areas are anticipating storms in the morning, which has led Atlanta schools to move to online learning Thursday.
  • The worst of the severe weather pushes into the Carolinas and parts of parts of Central and Southern Georgia late morning. An elevated risk for strong tornado development exists for over 8 million from Southeast Georgia through the Carolinas into the northern Outer Banks. An area of greatest concern is the coastal area of the Carolinas that straddles the state line between North and South Carolina, and include Wilmington and Myrtle Beach.
  • As the line of storms progress throughout the day there is the risk of gaining more energy and become more violent,
  • Other locations that need to be on the lookout for stronger tornadoes Thursday include Raleigh/Durham, Savannah, GA and Columbia, SC.
  • Another line of storms will develop in the late afternoon out of the Ohio Valley and Northern Kentucky and push into the Appalachians of West Virginia and Virginia. The system will not stay organized very long, but the potential for dangerous weather conditions will continue into the early evening
  • The southern end of the line of storms will hit the Florida Panhandle and move into Central Florida through the early evening hours. Risk of strong winds, dangerous lightning, hail and tornadoes will continue into overnight hours.
  • An estimated 45 million people will be under threat for severe storms Thursday, from the Ohio Valley into South Florida, according to the Storm Prediction Center. Tornadoes, some of which may be intense, will be of concern along with damaging winds and large hail,
  • Covid-19 vaccine distribution has also been disrupted by the line of storms, with DeKalb County in metro Atlanta announcing its changes in schedules. Georgia Emergency Management and Homeland Security Agency Mass Vaccination Sites plan to delay opening or alter its hours to avoid the severe weather.
zoegainer

Covid Took a Bite From U.S. Greenhouse Gas Emissions in 2020 - The New York Times - 0 views

  • America’s greenhouse gas emissions from energy and industry plummeted more than 10 percent in 2020, reaching their lowest levels in at least three decades as the coronavirus pandemic slammed the brakes on the nation’s economy, according to an estimate published Tuesday by the Rhodium Group.
  • In the years ahead, United States emissions are widely expected to bounce back once the pandemic recedes and the economy rumbles back to life — unless policymakers take stronger action to clean up the country’s power plants, factories, cars and trucks.
  • Before the pandemic hit, America’s emissions had been slowly but steadily declining since 2005, in large part because utilities that generate electricity have been shifting away from coal, the dirtiest fossil fuel, in favor of cheaper and cleaner natural gas, wind and solar power.
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  • In the electricity sector, emissions plunged by 10.3 percent in 2020, driven by a sharp decline in coal burning. As electricity demand sagged nationwide, utilities ran their coal plants far less often because coal has become the most expensive fuel in many parts of the country. Instead, they used more natural gas — which produces less carbon dioxide than coal, but still generates significant heat-trapping methane — and drew more heavily on emissions-free wind and solar power.
  • Emissions from heavy industry, such as steel and cement, dropped 7 percent in 2020 as automakers and other manufacturers churned out fewer goods amid the economic slump. America’s buildings, which produce carbon dioxide when they burn oil or natural gas for heat, saw emissions fall 6.2 percent, driven by both lockdowns and warmer-than-average weather.
  • Transportation, the nation’s largest source of greenhouse gases, saw a 14.7 percent decline in emissions in 2020 as millions of people stopped driving to work and airlines canceled flights. While travel started picking up again in the latter half of the year as states relaxed their lockdowns, Americans drove 15 percent fewer miles over all last year than they did in 2019 and the demand for jet fuel fell by more than one-third.
  • Renewable energy surged in 2020, as energy companies overcame disruptions from the pandemic to build a record number of new wind turbines and solar panels ahead of a key deadline to claim a federal tax credit. The United States produced roughly as much electricity from renewable sources last year as it did from coal, a milestone that has never been reached before.
  • The other caveat is that America’s emissions could tick back up again once vaccines are widely distributed and the economy recovers. The Rhodium Group report noted that a similar rebound occurred after the financial crisis of 2008-9 caused emissions to fall sharply. And it noted that many sectors, like air travel and steel making, have already been rebounding in recent months.
  • “The vast majority of 2020’s emission reductions were due to decreased economic activity and not from any structural changes that would deliver lasting reductions in the carbon intensity of our economy.”
  • Scientists warn that even a big one-year drop in emissions is not enough to stop global warming. Until humanity’s emissions are essentially zeroed out and nations are no longer adding greenhouse gases to the atmosphere, the planet will continue to heat up. As if to underscore that warning, European researchers announced last week that 2020 was quite likely tied with 2016 as the hottest year on record.
brickol

'Potentially historic': dangerous winds expected as fires burn across California | US n... - 0 views

  • Californians braced for power cuts and a “potentially historic” wind event on Saturday as a growing wildfire prompted fresh evacuations for 50,000 people in the northern Bay Area.
  • Another blaze that forced evacuations of 50,000 residents in suburbs north of Los Angeles grew to 4,615 acres overnight. The Tick fire, which started on Thursday, has destroyed nine homes and businesses while threatening 10,000 more, according to firefighters.
  • The Sonoma county sheriff’s office said it is expected to be the biggest evacuation in the county in more than 25 years.
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  • The National Weather Service described the conditions as “the strongest since the 2017 wine country fires and potentially a historic event given the strength and duration of the winds”.
  • The Kincade fire broke out late on Wednesday night and has so far destroyed nearly 50 structures.
  • Meanwhile, millions across the state will have their power cut again as California’s largest utility, Pacific Gas & Electric (PG&E), said it would shut off electricity for the third time in as many weeks. PG&E said it would begin blackouts in the afternoon for about 940,000 homes and businesses in 36 counties for 48 hours or longer throughout the San Francisco Bay Area, wine country and Sierra foothills. An estimated 2.35 million people are due to be affected, thousands more than previously predicted.
  • The tumultuous Kincade fire spread to 25,455 acres in the wine-growing region of Sonoma county, with meteorologists warning of severe, windy conditions beginning Saturday night that could see gusts of up to 80mph. The entire communities of Healdsburg and Windsor were ordered to evacuate.
  • The Tick fire is currently 25% contained, while the Kincade fire is 10% contained.
  • California’s governor, Gavin Newsom, has declared a local emergency to assist with battling the blazes, and thousands of firefighters have been deployed to both locations.
  • The power shutoff in Geyserville created a dangerous challenge when it came time to evacuate residents as the blaze crept nearer. Typically during evacuations, local authorities deploy reverse 911 calls to alert individual residents. With the power out, evacuees reported being awakened in the early hours by frantic knocks on their front doors.
  • Though nine wildfires are currently burning throughout the state, none have reached the level of death and destruction witnessed in the past few years. Nevertheless fears remain, especially among those who lived through the devastation of the previous fires. The Kincade fire was starting to skirt along the path of the 2015 Valley fire, which killed four people and burned through more than 76,000 acres.
  • The harsh fire weather conditions have spread beyond the state, kicking up flames in parts of Baja California, just across the border from San Diego in Mexico.
niicho

California wildfires live updates: Ferocious winds fuel blazes, force evacuations from ... - 0 views

  • The National Weather Service says this next round of dangerous fire weather could be the strongest of the year for the area and could be the worst wind event since the 2017 Wine Country fires.
Javier E

Coronavirus Relief Also Has Biggest Climate Bill in History - 0 views

  • How big a deal are the climate provisions? The World Resources Institute has called the bill “one of the most significant pieces of climate legislation that Congress has passed in its history.”
  • “This is perhaps the most significant climate legislation Congress has ever passed.”
  • the amount of good climate policy in this bill is shocking
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  • The major provisions include: a $35 billion investment in new zero-emission energy technology (including solar, wind, nuclear, and carbon-capture storage); an extension of tax credits for wind and solar energy, which were set to expire; and, most significantly, a plan for phasing out hydrofluorocarbons, a small but extremely potent greenhouse gas used as a coolant.
  • In 2016, the Obama administration committed to an international agreement to phase out hydrofluorocarbons, or HFCs. The Trump administration, as you’d expect, renounced the agreement and then proposed rolling back regulations on HFCs. Instead, the president will sign a bill that would allow the United States to fulfill the terms of the treaty he renounced. A full international HFC phaseout will reduce global warming by nearly one degree Fahrenheit.
  • Manufacturers of heating and cooling units prefer a single, strict national standard than a patchwork of lax but variable state-based standards, just like car-makers do. The industry has lobbied for a national standard.
  • The larger lesson here is that, in the modern era, constructive legislation is still possible — as long as the issue stays below the radar. High-profile policy fights tend to become grist for right-wing media,
martinelligi

No, The Power Crisis In Texas Wasn't Caused By Renewables Failing : Live Updates: Winte... - 0 views

  • Earlier this week, Texas Gov. Greg Abbott appeared on local TV in Dallas and blamed the state's power crisis on the devastating storm that disrupted power generation and froze natural gas pipelines.
  • "Wind and solar got shut down," he said. "They were collectively more than 10% of our power grid, and that thrust Texas into a situation where it was lacking power on a statewide basis."
  • The Texas Public Policy Foundation, a conservative think tank with ties to the fossil fuel industry, alleged that the storm "never would have been an issue had our grid not been so deeply penetrated by renewable energy sources."
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  • Grid operators say it simply doesn't make sense to pinpoint any one generation source for criticism.
  • Wind turbines did, in fact, freeze. But so did natural gas wells. And pipelines. And critical pipes at coal and nuclear power plants. And equipment panels.
  • Blaming wind and solar is a political move, Bird says. What's really needed — in Texas and elsewhere — is better preparation.
Javier E

Schumpeter - Big Oil has a do-or-die decade ahead because of climate change | Business ... - 0 views

  • Without the oil industry’s balance-sheets and project-management skills, it is hard to imagine the world building anything like enough wind farms, solar parks and other forms of clean energy to stop catastrophic global warming.
  • The question is no longer “whether” Big Oil has a big role to play in averting the climate crisis. It is “when”.
  • To cynics, all the climate-friendly noises amount to little in practice, since few people are ready to make carbon-cutting sacrifices that would force oil firms’ hand. But noises are sometimes followed by action. Should they be this time, the 2020s may be do-or-die for the oil industry.
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  • In Europe renewable energy prompted something almost as wrenching for a different sort of energy firm—utilities. Faced with an existential threat from wind and solar, fossil-fuel power producers such as Germany’s E.ON and RWE tore themselves apart, redesigned their businesses, and emerged cleaner and stronger.
  • Southern European firms like Spain’s Iberdrola and Italy’s Enel took renewables worldwide. Last year total shareholder returns from the reinvigorated European utilities left the oil-and-gas industry in the dust.
  • Some giants, like ExxonMobil and Chevron in America, continue to bet most heavily on oil
  • Others, among them Europe’s supermajors, Royal Dutch Shell, Total and BP, increasingly favour natural gas, and see low-carbon (though not necessarily zero-carbon) power generation as a way to prop up their business model as more cars and other things begin to run on electricity.
  • of a whopping $80bn or so of capital expenditure by Europe’s seven biggest listed energy firms last year, only 7.4%—less than $1bn each on average—went to clean energy.
  • capital spending on renewable energy, power grids and batteries will need to rise globally to $1.2trn a year on average from now until 2050, more than double the $500bn spent each year on oil and gas.
  • To help fund that, it reckons that oil-and-gas companies will need to divert $10trn of investments away from fossil fuels over the same period.
  • For now, oil executives show no appetite for such a radical change of direction. If anything, they are working their oil-and-gas assets harder, to skim the profits and hand them to shareholders while they still can. Oil, they say, generates double-digit returns on capital employed. Clean energy, mere single digits.
  • Big Oil has ways to make other high-risk, high-reward bets on clean energy. One is through venture capital. The OIES calculates that of 200 recent investments by the oil majors, 70 have been in clean-energy ventures, such as electric-vehicle charging networks. They have generally been small for now. But BP reportedly plans to build five $1bn-plus “unicorns” over the next five years with an aim of providing more energy with lower emissions
  • Another way is to back research and development in potentially groundbreaking technologies such as high-altitude wind energy, whose generating efficiency promises equally lofty profits.
  • As national climate commitments grow more stringent, governments may go on the warpath. UBS argues that it may be necessary for governments to “ban” the $10trn of oil-and-gas investments to reach net zero emissions by 2050
woodlu

What is behind rocketing natural-gas prices? | The Economist - 0 views

  • uropean gas prices have soared in recent weeks, climbing to a high of $25 per million British thermal units (chart 1, left panel)
  • from Russian supply bottlenecks to a lack of wind in the North Sea, caused the spike.
  • Even before the recent price surge, gas was in short supply. A prolonged northern-hemisphere winter meant that European countries ran down reserves, leaving their stocks 25% below the historic average
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  • Disruptions of imports piped from Russia and Norway, which supply nearly half of Europe’s gas, made inventories hard to replenish. The flow from Norway was limited because of work on improving the country’s infrastructure;
  • Rising demand for liquefied natural gas in Asia, as economies there have recovered from the covid-19 slowdown, has driven up prices.
  • wind turbines, which generate about 10% of Europe’s power, slowed during an unusually still summer.
  • But dwindling supply from European mines and high demand from China have pushed up the price of the black stuff, too.
  • So has the rising cost of European carbon permits, which carbon producers must buy to offset their emissions. From around €30 ($35) per tonne at the start of the year, they climbed to a record €63 in early September
  • Britain, which derives about 40% of its energy from natural gas and 20% from wind turbines
  • The wholesale price paid by suppliers has spiked 250% this year
  • The government has ruled out a bail-out for ailing survivors. Heavy industry is already reeling from price increases.
  • consumers may soon feel the pinch, too. Europeans should hope for a warm and windy winter.
Javier E

Opinion | The Green Transition Is Happening Fast. The Climate Bill Will Only Speed It U... - 0 views

  • Among the first things you likely heard about the Inflation Reduction Act was its size.The bill, signed into law by President Biden on Tuesday, makes $369 billion in climate and energy investments — by far the largest such investment in American history.
  • But there are several ways to measure the size of a bill, and given how high the country’s emissions targets are, even many of the I.R.A.’s supporters will openly concede that it is, on its own, inadequate
  • it is ultimately how much carbon we put into the atmosphere and not how much solar power we produce that determines the future of warming. But the power of carrots also just reflects some new realities: To simplify radically, a 90 percent reduction in the cost of solar power over the last decade means that the same amount of money now goes ten times as far.
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  • the broader economic and cultural landscape is so different now than it was just a few years ago that public investments of even this somewhat smaller scale appear poised to make an enormous difference.
  • That’s because those public investments are being made not against dirty-energy headwinds but with the support of much broader tailwinds
  • Thanks to technological change and the plunging cost of renewables, a growing political and cultural focus on decarbonization and increasing awareness of the public health costs of pollution and market trends for things like electric vehicles and heat pumps, it’s genuinely a whole new world out there. Not that long ago, the upfront cost of a green transition looked almost incalculably large. Today it seems plausible that quite dramatic emissions gains can be achieved for just, say, $369 billion
  • For 90 percent of the world, clean energy is now cheaper than dirty alternatives, and while countries like Spain are boasting about more than tripling solar power capacity by 2030, in Texas, solar output has grown 39-fold in just six years. Globally, renewable output has grown fourfold in the past decade
  • Ten years ago, when the United States endeavored to tackle the problem of climate change, it tried to do so largely by punishing the cost of dirty energy with a cap-and-trade system. This time, it’s giving a kick-start, or a boost of momentum, to an already ongoing green transition.
  • this strategic choice of carrots rather than sticks has received some deserved praise: It’s better and more popular to subsidize cheap, clean energy than it is to make the bad stuff more expensive
  • A “fair share” analysis suggests the United States — today the world’s second largest emitter, and historically the largest by far — should be moving faster than any nation in the world.
  • The models may ultimately prove optimistic, given the complications of infrastructure build-out
  • it is fair to wonder about the uncertain economics of some of the bill’s technological bets, like carbon capture and storage, which could allow emissions from industry and power generation to be trapped and sequestered, and which some climate activists and environmental justice advocates distrust
  • Jesse Jenkins, who leads the REPEAT Project, says he believes that the tech problems of C.C.S. have been solved and that, with tax credits, the bill will address its cost problem, leading to a dramatic scale-up in use. Julio Friedmann, a former Obama-era Energy Department official turned carbon removal advocate, says that a rapid scale-up of C.C.S. would be, while miraculous, also plausible.
  • the fact that this much climate progress appears even remotely possible for less than the annualized budget of the State Department, as Ben Dreyfuss recently put it, is a remarkable reflection of the state of green energy today, even without the new law. When it comes to emissions, we are no longer fighting an uphill battle, at least in the United States and many other countries like it. We are deciding how quickly to race downhill.
  • at the risk of playing Pollyanna, I think it is also possible to see the size of the bill — its relative smallness — as at least a mark of good news
  • The headline projection of the I.R.A. impact appears, if inadequate by the standards of the Paris agreement, nevertheless impressive: a 40 percent reduction in just eight years
  • already today the United States has reduced emissions 20 percent from 2005 levels, and was projected to reduce them further even without the benefit of the I.R.A. As recently as a few weeks ago, before the bill was revived, it might have felt like the United States was permanently stalled on climate action, but in fact the country was already moving to decarbonize, if not fast enough.
  • peed really matters; as the writer and activist Bill McKibben put it, when it comes to warming, “winning slowly is the same as losing.” Simply moving in the right direction isn’t enough, and too much time has been squandered — within the United States and globally — to avoid what was once described as a catastrophic climate future.
  • If the United States achieves that 40 percent reduction, that’s still well short of the country’s target of a 50-52 percent reduction by 2030. The gap may seem relatively small, but it represents more than half a billion tons of carbon each year. That’s a lot.
  • the I.R.A. is a compromise, obviously and outwardly, tying new leases for wind power development to new ones for oil and gas, only moderately reducing the country’s demand for oil and gas over the next decade and investing less in environmental justice measures than Biden himself promised not too long ago
  • But its basic bet — that many of these markets and technologies are close enough to tipping points that relatively small public support can get them racing toward inevitability — also means the ultimate impacts could be larger and far-reaching.
  • The effects on prices and markets could make state and local action cheaper and easier, and even federal regulation more palatable
  • the bill includes some unheralded provisions to help retire coal power more quickly, as Keane Bhatt, the policy director for the Progressive Caucus, has pointed out, as well as an under-discussed “stick” in the form of a fee for methane
  • The impact of its “green bank” and Energy Department loans could be quite large — some estimates have suggested they could run into the hundreds of billions, and the $27 billion handed to the Green Bank could catalyze ten times as much private capital
  • because much of the I.R.A.’s top-line “investment” comes in the form of tax credits, its outlays — and impacts — could ultimately grow substantially if certain sectors (wind, solar and C.C.S., for instance) really do take off.
  • This might not ultimately be just a $369 billion package, in other words, but something quite a bit bigger. Enough to get us to 50 percent by 2030? “I think we have a pretty good chance,” Jenkins says.
  • it is striking that, given where we were not that long ago, such a proposition seems credible at all. Here’s hoping.
  • The provisions tying future auctions for wind power to leases for oil and gas development have been called “poison pills,” because they appear to lock in future emissions. But the ultimate impact is likely to be quite small. (Energy Innovation estimates at most 50 million tons of additional annual carbon emissions, compared with a billion in reductions from other measures in the bill.)
Javier E

Germany Is Being Served Up on a Platter to the Far Right - 0 views

  • According to data we’ve analyzed from ENTSO-E, the official European body of electricity generation entities, net electricity generation for the public power supply in Germany fell in 2023 by 11.5%. Generation is now down 19% since its peak in 2017. Bragging about falling emissions when you’re in an electricity generation freefall is a little like bragging that you’ve lost weight after an amputation.
  • To put it into context, the 103 TWh in electricity generation Germany lost between 2017 and 2023 is more than all the electricity generated last year by Bangladesh, a country of 171 million people. And 75% of that lost generation is down to one decision: Since 2017 Germany shut down eight perfectly good, safe, reliable, job-creating nuclear power plants.
  • the speed of take-up of wind and solar just hasn’t been able to keep up with demand. Yes, high-carbon power generation continues to fall, but renewable generation stopped growing after the pandemic:
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  • The result is that less energy is being produced overall, and Germany is loath to buy it from France—where power is much cleaner, because it’s mostly nuclear.
  • So who absorbed the adjustment? Easy: industry, the old backbone of the German manufacturing state, which has been closing production facilities in significant numbers.
  • This does not, of course, reduce the overall atmospheric pollution generated in the world, as the old clients of German firms turn to alternatives in other locations that are, almost always, fueled with high carbon sources. The Indonesian, Brazilian, Indian and Chinese companies that will now manufacture the products that German workers used to make are largely run on fossil fuels.
  • Part of the problem is that there are inherent technical limitations to how high a country can drive wind and solar in its energy mix. State of the art lithium-ion batteries can only store energy in the range of megawatts, up to the low gigawatts. In order to store electricity to survive a German winter with next to no sunlight and long low-wind periods, the country would need to increase its storage capacity by orders of magnitude.
  • There are only three presently known energy sources that can be used at scale to balance a natural grid: hydroelectricity, nuclear and fossil fuels
  • hey decided to simply make do with less power: economic degrowth in action. Of course, people depended on those power sources for jobs: good, well-paid, stable union jobs that guys without university degrees could get. The government closed down the factories—can they really be surprised some of these people now want to vote for the far right?
  • Germany didn’t adopt degrowth by choice, but through a series of blunders. The comic edge of its misfortunes is that so many of them occurred because of miscalculation or just sheer bloody-mindedness on the part of the Greens and Social Democrats. First, a few months before becoming a Russian energy lobbyist in 2005, then-Chancellor Gerhard Schröder insisted on putting Russian natural gas at the core of Germany’s energy grid, continuing a Social Democratic tradition of entwining Germany’s future with Russia’s. Then, a Green Party with its roots in 1970s anti-nuclear weapons activism carried this atavistic policy into the 21st century when it entered government, insisting that Germany decommission the backbone of its zero-emission energy matrix. Then the war in Ukraine happened, and the pipelines were cut. Oooops. Guess who’s digging for coal now?
Javier E

Japan's Capital Unveiled | - 0 views

  • Since so many people lost friends and family in the 1945 firebombing by the United States, it is one of the most retold stories in oral histories, with accounts of spectacular flames and the apocalyptic aftermath of a city reduced to ashes and panoramic vistas over smoldering ruins. But outside of Japan this is one of the forgotten horrors of WWII. Sand writes, “This traumatic irruption in the everyday world of Shitamachi residents […] took roughly one hundred thousand lives in the course of two hours.”
  • Incendiaries dropped on Tokyo’s tinderbox housing combined with powerful spring winds to whip up a deadly conflagration. Oddly enough, there is no state memorial to this tragedy, and, in 1964, Emperor Showa actually bestowed an award on General Curtis LeMay, the man who was in charge of firebombing 66 of Japan’s cities, including Tokyo. He ordered a delay in the Tokyo firebombing and timed the raid to coincide with strong winds to maximize the devastation.
Javier E

Al Gore explains why he's optimistic about stopping global warming - 0 views

  • we are now seeing the approach of a global political tipping point.
  • The appearance of more extreme and more frequent weather events has had a very profound impact on public opinion in countries throughout the world
  • A second factor is the sharp and unexpectedly steep decrease in prices for electricity produced from wind and solar and the demand destruction for fossil fuel energy from new efficiency improvements.
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  • the projections made 5-10 years ago for the installation of solar and wind technologies were, similarly, not just wrong but way wrong. We’ve seen a dramatic increase that’s far more rapid than anybody projected and it’s accelerating — not just in the United States but even more rapidly in developing countries.
  • Once questions are resolved into a choice between right and wrong, then the laws change. It happened with civil rights. It’s happening now with gay rights. It happened with apartheid and, in an earlier era, with abolition. And this is now being resolved into a question of right and wrong.
  • remember the impact of policy direction on business calculations is forward-looking. When business begins to understand the direction of policy, they have to start adjusting to where the policy is going. When you look at the EPA process, it’s undeniably clear that there will be a price on carbon one way or the other. Then when you look at the movement in other countries and the states and local measures being enacted, the direction is now quite clear and businesses are making plans to adjust to it.
  • people are connecting the dots. The cumulative amount of energy trapped by manmade global warming pollution each day in the earth’s atmosphere is now equal to the energy that would be released by 400,000 Hiroshima bombs going off every 24 hours.
  • The leading scientists have in the last two years changed the way they discuss that particular connection. It’s true that it used to be common for them to say you can’t blame any single extreme weather event on global warming.
  • the odds have shifted and those events are becoming more common and extreme. They’ve now changed their description of that connection. The temperature has increased globally and there’s now 4 percent more water vapor in the Earth’s atmosphere than 30 years ago. As a result, every extreme weather event now has a component of global warming in it.
  • I think the most important part of it is winning the conversation. I remember as a boy when the conversation on civil rights was won in the South. I remember a time when one of my friends made a racist joke and another said, hey man, we don’t go for that anymore. The same thing happened on apartheid. The same thing happened on the nuclear arms race with the freeze movement. The same thing happened in an earlier era with abolition. A few months ago, I saw an article about two gay men standing in line for pizza and some homophobe made an ugly comment about them holding hands and everyone else in line told them to shut up. We’re winning that conversation.
  • the political climate is changing. Something like Chris Hayes’s excellent documentary on climate change wouldn’t have made it on TV a few years ago. And as I said, many Republicans who’re still timid on the issue are now openly embarrassed about the extreme deniers. The deniers are being hit politically. They’re being subjected to ridicule, which stings. The polling is going back up in favor of doing something on this issue. The ability of the raging deniers to stop progress is waning every single day.
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