2019年2月14日 星期四

Morning Volt for 02/14/2019

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Morning Volt

Lawsuits Over Climate Heat Up, Oil Industry Steps Up Defense

Michael Hiltzik, LAT
The oil industry has been depicting itself lately as the target of a conspiracy by scientists, local government officials and climate change activists to make it look bad.It would be odd to think that a conspiracy is necessary to punch holes in the fossil fuel companies' public reputation, but here's the argument presented by the Independent Petroleum Assn. of America, one of the industry's leading lobby organizations.

Everglades Open for Oil Drilling

Samatha J. Gross, TBT
After nearly four years of legal battles, a Miami family that made its fortune in real estate will now be able to drill an exploratory oil well in the Everglades, just west of the Broward County suburbs.A Tallahassee appeals court reversed a decision by the state's Department of Environmental Protection Tuesday, ultimately granting Kanter Real Estate the authority to drill.The land Kanter Real Estate President John Kanter is interested in drilling is on a 20 mile-wide, 150-mile-long stretch of shale between Miami and Fort Myers dubbed the Sunniland Trend. The western part of that stretch has...

Cooperation, Not Lawsuits, Right Way for Climate

Robert McClure, OS
Late last year, a group of crab fishermen on the West Coast filed what is simply the latest in a series of lawsuits orchestrated by trial attorneys that target fossil fuel companies. The Pacific Coast Federation of Fishermen's Association believes thirty energy manufacturers should be held responsible for delayed crabbing seasons and climate-related economic losses. Now, instead of Dungeness crabs, they and the trial attorneys hope to net a major payday in court.Such lawsuits aren't without precedent, of course. Over the past two years, local officials in states nationwide have filed...

EV Subsidies Funnel Taxpayer Money to the Rich

Matthew Kandrach, RCE
Do you own an electric vehicle? If not, you stand with the majority of Americans, as the average household income of electric vehicle (EV) purchasers is upwards of $200,000.You may not know, however, that the government is heavily subsidizing electric vehicles (EVs). That's right, Congress is using your tax money to give the wealthy a $7,500 tax credit for buying an EV. Right now, the tax credit only applies to the first 200,000 EVs from a manufacturer. Yet, General Motors, Tesla, Nissan and other EV manufacturers are lobbying hard to remove that cap.

The Renewable Revolution Has a Lithium Problem

Haley Zaremba, Oil Price
As the global middle class rapidly expands, so too does the worldwide demand for energy and its subsequent carbon footprint. Global climate change will be one of the greatest, if not the single greatest, challenges of this next century, and one of the few feasible solutions that is generally agreed upon by scientists and politicians alike is a wide-scale transition from the use of traditional fossil fuels to renewable energy resources.Around the world, there is a race among researchers to more efficiently and cost-effectively implement renewable energy as a long-term solution to global...

BP to Better Connect With Paris Accords

Adam Vaughan, TG
BP has bowed to pressure from investors, including the Church of England, by backing a plan to explain how its strategy and investments are consistent with the Paris climate agreement.The UK oil and gas company supported a resolution, put forward by a group of shareholders including the investment arms of HSBC, Legal & General and the C of E, forcing it to be more transparent on climate change.But BP urged investors to reject a tougher climate resolution brought by a Dutch shareholder activist group, which it said was too prescriptive.The moves are part of a wider, growing wave of shareholder...

Climate Change is Driving Polar Bears Into Russian Towns

Luke Darby, GQ
Novaya Zemlya is a Russian archipelago in the Arctic Ocean. It is, as expected, very cold there, and residents long ago had to get used to dealing with the forces of nature in a place where humans, by all biological indications, were never supposed to live. But lately they've been facing an old problem on an entirely new scale: a full-on invasion of polar bears.Now, the first mental image you get of this may be adorable, especially if you're a Planet Earth fan. But the Novaya Zemlya residents aren't living more through a horror movie than a Pixar short. Bears are being driven from the ice,...

Last Hurrah for de Blasio's Energy Company Shakedown

C. Richardson, Townhall
This week may well mark the last hurrah for both a rumored run for the presidency by New York City Mayor Bill de Blasio and his high-profile lawsuit against five energy producers.Last January, New York City joined several other municipalities in filing lawsuits against major energy companies BP, Chevron, ConocoPhillips, Exxon Mobil and Royal Dutch Shell, attempting to hold them solely responsible not only for damages alleged to have occurred due to climate change but for damages yet to happen. It would have been a sweet double play for de Blasio: A potentially huge damages award would...

Texas Shale Forces Big Oil Cost Revolution

Kevin Crowley, World Oil
For Mike Wirth, the future of Big Oil lies at home, under the dusty fields of West Texas.As he celebrates his first year as chief executive of Chevron Corp., Wirth sees the Permian Basin as a plentiful source of high-quality crude for years to come, but that's not all. The low break-even costs to pump in the Permian are forcing Chevron to be more efficient everywhere, Wirth said, from the deepwater platforms in the Gulf of Mexico to its liquefied natural gas plants.In a time of transition, where everyone from politicians to shareholder activists is bashing Big Oil, shale's success is forging...

Reconsidering Having Kids Because of Climate? You're Not Alone

Jo Lauder, ABC
One in three women under 30 involved in environmental groups are so worried about climate change and the future of the planet they are reconsidering having kids, according to a new survey.The survey focused on women's views on climate change ahead of this year's federal election, and found nine out of ten of them were "extremely concerned" about the issue.For women between 30 and 39 years, 22 per cent said they were reconsidering having children or more children because of climate change.Over 6,500 women were quizzed for the survey, which was conducted by The Australian Conservation...

Size Does Matter for Shale Profitability

Jordan Blum, Houston Chronicle
Size matters when determining whether energy companies can truly turn profits in U.S. shale oil and gas drilling, according to a new report from the Norwegian research firm Rystad Energy.That need for scale is why the largest Big Oil majors like Exxon Mobil and Chevron and the biggest energy independents have begun to dominate the top shale plays, especially West Texas' booming Permian Basin.Outside observers have continued to question the long-term profitability of shale oil and gas after the initial investments, debt accumulation, operations costs and the frequent overestimates of well...

US Shale, Just One Reason for Drop in Oil Imports

Alexandra Hart, TS
On Wednesday, the U.S. Energy Information Administration, or EIA, will publish its weekly Petroleum Status Report. And this week, it's expected to show a decrease in oil imports into the U.S. Gulf region.Matt Smith, director of commodity research at ClipperData, says while some may assume that's because the U.S. is simply producing too much oil to need any imports, the actual reason isn't that simple. The U.S. is a top exporter of shale oil, but that isn't necessarily a direct cause of the drop in imports.U.S. Gulf refiners still need to import heavier crude, and that's something that U.S....

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