Last week, in a December 22th Wall Street Journal op-ed, Ibrahim Bahr Al-Uluom, a former Iraqi oil minister and current member of the Iraqi National Alliance (a political party), lamented the recent Iraqi oil lease auctions and suggested transferring as much of Iraq’s oil wealth directly to its citizens in the form of shares in […]
If natural gas is so cheap right now, limping along between $2.50 and $5.50 per thousand cubic feet, why did Exxon pay the equivalent of $41 billion for natural gas giant XTO Energy? There is a global glut of natural gas, which won’t be disappearing any time soon. I can think of a couple reasons. […]
There is a blockbuster piece at Salon.com that looks at Five common mistakes in the coverage of the Copenhagen Accord. It punctures some of the fallacies that have abounded in some quarters such as that there could have been a better Accord voted on by the delegates, that the smaller developing nations rejected the Accord, […]
Overview – There were critical developments, breakthroughs and some setbacks in 2009 in the policy, politics, business, economics, science, and technology of climate change and energy. There were moments of high drama in Copenhagen and Washington as well as low comedy. The landmark Waxman-Markey bill passed in the US House of Representatives, the Obama Administration […]
Everyone seems shocked and discouraged by the outcome in Copenhagen. They shouldn’t be. We must control emissions. So why wasn’t there a deal that made everyone happy? Because that’s the nature of multilateral negotiations, with scores of parties with scores of interests. They are always, always like this, as anyone who has studied them knows: […]
This is the document that has taken many years and much blood, sweat, tears and toil from thousands of people to produce. Yvo de Boer, head of the UNFCCC, described the accord as “politically important.” It provides an “architecture for a response to climate change.” The “LA Times” had this story this morning: Climate summit ends […]
AP had this late tonight. The deal “…requires industrial countries to list their individual targets and developing countries to list the actions they will take to cut global warming pollution by specific amounts. Obama called that an ‘unprecedented breakthrough.’” AP further reported “German Chancellor Angela Merkel, a leading proponent of strong action to confront global […]
We’re in overtime in Copenhagen. ABC – that’s Australian Broadcasting Corp. for those Americans who might think otherwise – reports “US President Barack Obama has launched intense after-hours diplomacy with China, hoping to salvage a new world climate pact after warning that an imperfect deal would be better than no pact at all.” (See this.) […]
We’ll know the answer to that question later today. As I’ve said, though, we’re going to have REDD, certainly, and a fast start to funding for adaptation and mitigation for the developing nations. What else remains to be seen. See the “NY Times” this morning for a report that notes: “But the maneuvering and brinksmanship […]
US aid offer boosts deal at UN climate talks is the headline from the AP tonight. “Large pieces of a climate deal fell into place Thursday with new offers from the U.S. and China, but other tough issues remained before President Barack Obama and other leaders can sign off on a political accord to contain […]
Overview 2009 was all about China. Early in the year, when energy prices crashed due to disappearing demand, oil sank to slightly more than $30 barrel from its mid-2008 high of $147 and natural gas from $14 to around $3 per thousand cubic feet. China, flush with cash, for all practical purposes stabilized the market […]
“I would say hold tight and mind the doors–the cable car is moving again,” said Yvo de Boer earlier today. The “WSJ” reports here that de Boer is encouraged. “Forbes” has some other notable quotes from today, among them Hillary Clinton’s commitment to help raise $100 billion in annual funding for adaptation and mitigation in […]
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