China has flooded the market with so many solar panels that people are using them as garden fencing

Solar-panel supply globally is forecast to reach 1,100 gigawatts by the end of this year — three times more than demand, the International Energy Agency wrote in a report…Continue readingChina has flooded the market with so many solar panels that people are using them as garden fencing

China made so many solar panels that even its own grid can’t support all the energy produced

Chinese manufacturers seem to have made too many solar panels, according to the US, the European Union, and their allies. They’re now calling on Beijing to rein in the…Continue readingChina made so many solar panels that even its own grid can’t support all the energy produced

Remember they said Miami would be under water? A preview of the future

Local sea level has risen about a foot in the last 80 years, with 8 inches of that total in the last 30 years, the Herald reported in May.…Continue readingRemember they said Miami would be under water? A preview of the future

Gas, greens and brownouts: The energy war is boiling over

President Joe Biden’s signature climate law is nearly two years old, and the tug-of-war over its future is only getting more fierce. The Biden administration is facing election year…Continue readingGas, greens and brownouts: The energy war is boiling over

Banks have given almost $7tn to fossil fuel firms since Paris deal

Researchers for the banking on climate chaos report, now in its 15th edition, analysed the world’s top 60 banks’ underwriting and lending to more than 4,200 fossil fuel firms…Continue readingBanks have given almost $7tn to fossil fuel firms since Paris deal

Shell plant reported millions of ‘phantom’ carbon credits

A Shell-operated plant reported millions of carbon credits tied to CO₂ removal that never took place but were used by Canada’s largest oil sands companies, raising new doubts about…Continue readingShell plant reported millions of ‘phantom’ carbon credits

Pakistan records ‘wettest April’ in more than 60 years

Pakistan has experienced its “wettest April since 1961”, receiving more than twice as much rain as usual for the month, the country’s weather agency has said. April rainfall was…Continue readingPakistan records ‘wettest April’ in more than 60 years

Saudi Aramco CEO calls energy transition strategy a failure

Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current energy transition strategy as a misguided failure. “In the…Continue readingSaudi Aramco CEO calls energy transition strategy a failure

West Africa heatwave was supercharged by climate crisis

A searing heatwave that struck west Africa in February was made 4˚C hotter and 10x more likely by human-caused global heating, a study has found. The heat affected millions…Continue readingWest Africa heatwave was supercharged by climate crisis

Oil executives talk down rapid shift to green energy as profits boom

Big Oil used an industry conference this week to argue against a rapid transition to green energy, as fossil fuel companies are emboldened by high demand and record profits…Continue readingOil executives talk down rapid shift to green energy as profits boom

Fury after Exxon chief says public to blame for climate failures

The world is off track to meet its climate goals and the public is to blame, Darren Woods, chief executive of oil giant ExxonMobil, has claimed. As the world’s…Continue readingFury after Exxon chief says public to blame for climate failures

Vanishing ice and snow: record warm winter wreaks havoc across US midwest

While ice cover across the Great Lakes – a network of five freshwater lakes about the size of the United Kingdom – has been declining since the early 1970s,…Continue readingVanishing ice and snow: record warm winter wreaks havoc across US midwest

Oil and gas profits triple under Joe Biden even as industry decries him

Profits for the biggest US oil and gas producers have almost tripled under President Joe Biden, even as the industry berates his administration’s “hostile” policies and warns that a…Continue readingOil and gas profits triple under Joe Biden even as industry decries him

The problem with Europe’s ageing wind farms

Wind project costs in Europe have risen by 30-35% since before the pandemic, according to one senior banker who works in renewables. The profitability of new projects in Spain,…Continue readingThe problem with Europe’s ageing wind farms

‘Energy turmoil’ looms unless demand is checked, says Cop28 president

The problem of the ever-growing demand for power must be addressed if the world is not to risk descending into “energy turmoil” as it transitions towards clean energy, according…Continue reading‘Energy turmoil’ looms unless demand is checked, says Cop28 president

Big firms with $7 tn exit climate investment pressure group

Launched in 2017, Climate Action 100+ aims to work with companies to halve their greenhouse gas emissions by 2030, through governance reforms, the elimination of emission through the value…Continue readingBig firms with $7 tn exit climate investment pressure group

Oxford under fire for increasing fossil fuel investments

Oxford university has come under heavy criticism after its £6bn endowment fund increased its investment in fossil fuels just a few years after making a landmark commitment to divestment.  About £1…Continue readingOxford under fire for increasing fossil fuel investments

BP targets boost for returns as it delivers second biggest profit in a decade

BP’s new boss Murray Auchincloss set out plans to win over shareholders on Tuesday as he pledged to turn the oil major into a “higher value company” even as…Continue readingBP targets boost for returns as it delivers second biggest profit in a decade

ExxonMobil and Chevron notch second-biggest annual profits in decade

Exxon posted full-year net income of $36bn, down from $55.7bn the previous year, but otherwise its biggest profit since 2012. Chevron’s net income of $21.4bn was down from $35.5bn…Continue readingExxonMobil and Chevron notch second-biggest annual profits in decade

Big oil welcomes COP28 call to move away from fossil fuels in ‘orderly’ way

Climate agreement may fail to result in falls in oil and gas production. The world’s largest oil producers have saluted the COP28 agreement’s focus on an “orderly” move away…Continue readingBig oil welcomes COP28 call to move away from fossil fuels in ‘orderly’ way

Hundreds of new oil and gas projects approved despite climate crisis

More than 400 oil and gas projects were approved globally in the last two years despite calls to abandon all new hydrocarbon development, new figures showed as the UN…Continue readingHundreds of new oil and gas projects approved despite climate crisis

After the Storm, Malawi’s Farmers Face a Precarious Future

Cyclone Freddy lasted a record 38 days. The storm barrelled 5,000 miles across the Indian Ocean, pummelling Madagascar and Reunion before striking the African mainland. It swirled over southern…Continue readingAfter the Storm, Malawi’s Farmers Face a Precarious Future

Shifting Political Winds Threaten Progress on Europe’s Green Goals

Germany’s finance minister, withdrew his party’s support for a crucial agreement between the governing parties to phase out the nation’s coal-burning power plants by 2030. “Until it is clear…Continue readingShifting Political Winds Threaten Progress on Europe’s Green Goals

German top court strikes down €60bn climate funding

Germany’s top court has ruled the government broke the law with a €60bn off-budget fund, throwing Berlin’s plans for financing its energy transition and climate policy into disarray. The…Continue readingGerman top court strikes down €60bn climate funding

Saudi Aramco profits exceed expectations on back of buoyed oil price

Saudi Aramco’s net profits surpassed analyst expectations as it revealed the impact of deeper production cuts this summer after the kingdom moved to prop up the oil price. The…Continue readingSaudi Aramco profits exceed expectations on back of buoyed oil price

Ørsted cancels two US offshore windfarm projects at £3.3bn cost

Denmark’s Ørsted has cancelled two big offshore windfarm projects in the US at a cost of more than £3bn amid surging costs facing the global wind industry. Shares in…Continue readingØrsted cancels two US offshore windfarm projects at £3.3bn cost

When Idiot Savants Do Climate Economics

The Intergovernmental Panel on Climate Change has assumed Nordhaus is to be trusted. The integrated assessment models used at the IPCC are based on Nordhausian visions of adaptation to…Continue readingWhen Idiot Savants Do Climate Economics

Siemens Energy seeks government guarantees as wind crisis deepens

Siemens Energy is in talks with the German government to secure billions of euros of guarantees for long-term projects after warning that losses at its troubled wind turbine business…Continue readingSiemens Energy seeks government guarantees as wind crisis deepens

Climate ‘loss and damage’ talks end in failure

A crucial meeting on climate “loss and damages” ahead of COP28 ended in failure Saturday, with countries from the global north and south unable to reach an agreement, according…Continue readingClimate ‘loss and damage’ talks end in failure

Century’s end may bring annual 100-year floods

Most coastal communities will encounter 100-year floods annually by the end of the century, even under a moderate scenario where carbon dioxide emissions peak by 2040, a new study…Continue readingCentury’s end may bring annual 100-year floods

World Bank spent billions of dollars backing fossil fuels in 2022

Urgewald, a campaign group that tracks global fossil fuel finance, found that the World Bank supplied about $3.7bn (£2.95bn) in trade finance in 2022 that was likely to have…Continue readingWorld Bank spent billions of dollars backing fossil fuels in 2022

Sami activist protests in front of Norwegian parliament over wind turbines

An Indigenous Sami activist has set up camp outside the Norwegian parliament to protest against wind turbines built on land traditionally used by Sami reindeer herders. In October 2021,…Continue readingSami activist protests in front of Norwegian parliament over wind turbines

US hit by record number of billion-dollar disasters so far this year

Between January and August, the United States was struck by a record-breaking 23 weather and climate disasters where losses exceeded $1 billion in each case. The tally for 2023…Continue readingUS hit by record number of billion-dollar disasters so far this year

‘Biggest clean energy disaster in years’: UK auction secures no offshore windfarms

No new offshore windfarms will go ahead in the UK after the latest government auction, in what critics have called the biggest clean energy policy failure in almost a…Continue reading‘Biggest clean energy disaster in years’: UK auction secures no offshore windfarms

Experts question whether carbon dioxide storage in farming soils helps the climate

Meeting the climate goals means we should not only significantly reduce greenhouse gas emissions but also sequester more CO2 in the soil. Research has taught us how to store…Continue readingExperts question whether carbon dioxide storage in farming soils helps the climate

In New Scramble for Africa, an Arab Sheikh Is Taking the Lead

A prominent sheikh in the oil-rich Gulf state hosting this year’s UN climate negotiations, COP28, is heading a new rush to capture and sell carbon credits by managing tens…Continue readingIn New Scramble for Africa, an Arab Sheikh Is Taking the Lead

Hurricane Idalia could become 2023’s costliest climate disaster for the US

Hurricane Idalia could become the costliest climate disaster to hit the US this year, analysts say, with massive implications for the insurance and risk management industries. The category 3…Continue readingHurricane Idalia could become 2023’s costliest climate disaster for the US

Carbon credit speculators could lose billions as offsets deemed ‘worthless’

Many credits in the voluntary market going unused, with study finding some offsetting could make global heating worse Carbon credit speculators could lose billions as scientific evidence shows many…Continue readingCarbon credit speculators could lose billions as offsets deemed ‘worthless’

Fossil fuels being subsidised at rate of $13m a minute

Fossil fuels benefited from record subsidies of $13 million (£10.3m) a minute in 2022, according to the International Monetary Fund, despite being the primary cause of the climate crisis.…Continue readingFossil fuels being subsidised at rate of $13m a minute

Consulting firm EY worked for gas giant Santos while advising NSW on gas policy

Consultancy firm EY did not tell the New South Wales government it was conducting work for Santos before being awarded a $67,375 contract to inform a policy statement that…Continue readingConsulting firm EY worked for gas giant Santos while advising NSW on gas policy

Siemens Energy warns of €4.5bn loss from ailing wind turbine division

Siemens Energy expects to rack up a €4.5bn loss this year as the German group struggles to fix its ailing wind turbine business. The Dax-listed group warned investors on…Continue readingSiemens Energy warns of €4.5bn loss from ailing wind turbine division

Slovenia asks for support from EU and Nato after devastating floods

Slovenia on Sunday called for help from the EU and Nato alliance to deal with the aftermath of flooding that killed at least three people and caused damage estimated…Continue readingSlovenia asks for support from EU and Nato after devastating floods

Mining the seabed for clean-tech minerals could destroy ecosystems. Will it get the green light?

A little-known organization is meeting this week in a conference center in Jamaica. The rules the International Seabed Authority (ISA) are drafting could have immense impact. That’s because this…Continue readingMining the seabed for clean-tech minerals could destroy ecosystems. Will it get the green light?

Exploring the multi-billion-dollar risk to economic activity from climate extremes affecting ports

More than $122 billion of economic activity—$81 billion in international trade—is at risk from the impact of extreme climate events, according to new research from Oxford’s Environmental Change Institute.Continue readingExploring the multi-billion-dollar risk to economic activity from climate extremes affecting ports

Siemens Energy shares plunge after wind turbine problems deepen

Shares in Siemens Energy, one of the world’s largest wind turbine makers, plunged 30 per cent on Friday after the company warned it may have to spend more than…Continue readingSiemens Energy shares plunge after wind turbine problems deepen

Revealed: documents detail key players behind vast Australian fossil fuel expansion

From the start of the Middle Arm project and its associated gas developments, there have been concerns about the potential for actual or perceived conflicts of interest by decision…Continue readingRevealed: documents detail key players behind vast Australian fossil fuel expansion

News Corp endorses the Australian gas industry

All articles sourced from the Adelaide Advertiser, dated May 19, 2023.Continue readingNews Corp endorses the Australian gas industry

UN chief attacks oil and gas industry ‘planet wreckers’ over fossil fuel expansion

UN secretary-general António Guterres attacked oil and gas industry attempts to justify fossil fuel expansion with carbon capture technology as “proposals to become more efficient planet wreckers”, in a…Continue readingUN chief attacks oil and gas industry ‘planet wreckers’ over fossil fuel expansion

Vast fossil fuel and farming subsidies causing ‘environmental havoc’

Trillions of dollars of subsidies for fossil fuels, farming and fishing are causing “environmental havoc”, according to the World Bank, severely harming people and the planet. The “toxic” subsidies…Continue readingVast fossil fuel and farming subsidies causing ‘environmental havoc’

China ramps up coal power while pushing for renewables

Already, the Beijing office of Greenpeace is sounding the alarm. In the first three months of 2023, provincial governments in China approved more new coal-fired electricity generation than they…Continue readingChina ramps up coal power while pushing for renewables

Norway seeks to open vast ocean area to deep-sea mining

Norway’s government is readying plans to open an area of ocean nearly the size of Germany to deep-sea mining as it seeks to become the first country to extract…Continue readingNorway seeks to open vast ocean area to deep-sea mining

Humanity still investing in fossil fuels

About USD 2.8 trillion is set to be invested in energy globally in 2023, USD 1.7 trillion of which will go to clean technologies. The remaining roughly USD 1…Continue readingHumanity still investing in fossil fuels

More than 5,000 new species discovered in Pacific deep-sea mining hotspot

It is the first time the previously unknown biodiversity of the Clarion-Clipperton Zone (CCZ), a mineral-rich area of the ocean floor that spans 1.7m sq miles between Hawaii and…Continue readingMore than 5,000 new species discovered in Pacific deep-sea mining hotspot

Three of Europe’s biggest insurers quit industry net-zero initiative

Three of Europe’s biggest insurers have quit the Net-Zero Insurance Alliance as growing US political pressure and legal fears plunge the climate initiative into crisis.Continue readingThree of Europe’s biggest insurers quit industry net-zero initiative

Saving humanity: Here’s a radical approach to building a sustainable and just society

The dangerous and destructive myths of conventional economics include the claims that: Since planetary boundaries have already been exceeded and low-income countries must develop, social justice demands that the…Continue readingSaving humanity: Here’s a radical approach to building a sustainable and just society

Oil giant Saudi Aramco records historic $161bn profit in 2022

Continue readingOil giant Saudi Aramco records historic $161bn profit in 2022

Ex-Shell chief Ben van Beurden’s pay jumped to £9.7mn last year

Rise of 53% came as oil group’s profits hit record $40bn in tumultuous year for energy markets. It brings van Beurden’s total compensation from Shell since becoming chief executive…Continue readingEx-Shell chief Ben van Beurden’s pay jumped to £9.7mn last year

ExxonMobil posts record $56bn profit

Results show scale of windfall from high oil prices following invasion of Ukraine.Continue readingExxonMobil posts record $56bn profit

US jobs boom in the ‘busiest spot in the busiest oilfield’

Crude production from the Permian Basin has soared to a record high.Continue readingUS jobs boom in the ‘busiest spot in the busiest oilfield’

Norway’s $1.3tn oil fund bounces back after worst year since 2008

Sovereign wealth fund has gained 5% so far this year but chief executive warns of ‘uncertain’ 2023.Continue readingNorway’s $1.3tn oil fund bounces back after worst year since 2008