News 

Lawsuits are not the answer to climate change

“Instead, they assert that the U.S. manufacturers violated state tort law, namely that climate change is a public nuisance for which manufacturers are responsible” reports washingtonexaminer.com. The sad reality is these California and New York lawsuits are not about the law, nor do they help the environment or drive policy change. Source: washingtonexaminer.com Share This:

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News Oil 

The world’s biggest oil trader is setting up a renewable energy fund

“Vitol has committed the initial investment, and investment opportunities may be offered to third parties, the oil trader and Low Carbon said” writes Oilprice Com for businessinsider.com. We firmly believe it is possible to provide all the energy we need through renewable sources, and this fund will help us further our ambition.”. Solar installers from Baker Electric place solar panels on the roof of a residential home in Scripps Ranch, San Diego Reuters/Mike Blake The world’s biggest oil trader, Vitol, is setting up in partnership with Low Carbon a renewables…

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Daily on Energy: That coal bailout costs how much!?

“New GOP carbon tax bill: Indeed, next week, Curbelo is planning to introduce a carbon tax bill, showing the emerging split within some quarters of the party” reports washingtonexaminer.com. Six Republicans voted against the measure condemning a carbon tax, which some conservative groups took as a positive sign that momentum is shifting.Strong opposition: But many powerful conservative groups oppose a carbon tax. Source: washingtonexaminer.com Share This:

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Markets News Oil 

The oil market is becoming increasingly dangerous, analysts say — and crude prices are feeling the pressure

“The oil market is likely to become progressively more unpredictable over the coming months, analysts have told CNBC, in the latest sign dynamics shaping crude futures have dramatically shifted since the crude rally began” writes unknown author for cnbc.com. International benchmark Brent crude has tumbled nearly 9 percent from last week’s high of more than $79 a barrel.It’s most recent dip comes amid emerging evidence of higher crude production from OPEC kingpin Saudi Arabia and other members of the Middle East-dominated cartel — as well as Russia and the U.S.…

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Norsk Hydro subsidiary signs world’s ‘longest’ corporate wind power contract

“The 29-year deal is thought to be the longest corporate wind power contract in the world, Norsk Hydro said in a statement Thursday” writes Guillaume Plisson for cnbc.com. Hydro Energi AS, a wholly-owned subsidiary of Norwegian aluminium business Norsk Hydro, has signed a long-term wind power contract with the Green Investment Group. The deal means that the tech giant will purchase all the wind energy produced at GE’s new, 37 MW Tullahennel wind farm in County Kerry. Source: cnbc.com Share This:

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Freight powerhouse embraces renewable electricity, looks to green operations

“The leading rail freight business in Britain, DB Cargo U.K., is to power all of its rail sites and offices with 100 percent renewable electricity” writes Bildquelle Ullstein Bild for cnbc.com. The business said that Amazon Wind Farm Texas, which is located in Scurry County, would add over 1 million megawatt hours of clean energy to the grid annually. Source: cnbc.com Share This:

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Markets News 

Dow edges higher, but energy sector is a drag on the broader market

“U.S. stocks traded mixed, with the Dow Jones Industrial Average inching up, but the broader market edged lower as a slump in the energy sector weighed” writes Anora M for marketwatch.com. Wall Street moves has been influenced by economic reports and earnings reports.Gains in the financials and industrials sectors, up 0.9% and 0.6%, respectively, were overshadowed by sharp losses in energy shares, down more than 1.2%.UAL, +5.92%  were up 5.8% after the airline reported better-than-expected second-quarter earnings late Tuesday and lifted its profit projections.Abbott Laboratories ABT, +3.07%  shares rose 2.8%…

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Marks and Spencer inks deal to offer customers 100 percent green energy

“Major U.K. retailer Marks and Spencer (M&S) has entered into a strategic partnership with Octopus Energy to supply energy and services under the M&S Energy brand” writes unknown author for cnbc.com. The partnership will begin in September and will see M&S Energy offer its customers 100 percent green energy, the store said in a statement Wednesday.The team-up will replace M&S’ contract previously held by energy business SSE. Under that arrangement, SSE also offered customers 100 percent green energy. “As we continue to transform M&S we have chosen Octopus as a…

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News Oil 

IEA warns of ‘worrying trend’ as global investment in renewables falls

“Investment in coal power dropped sharply but was offset by an uptick in oil and gas spending, the World Energy Investment report found” writes Adam Vaughan for theguardian.com. While coal investment fell to its lowest level in 10 years, spending on gas-fired power stations rose 40%.Globally, energy investment fell 2% to $1.8tn in 2017, with electricity taking a bigger share than oil and gas for the second year in a row.The world’s energy watchdog has sounded the alarm over a “worrying” pause in the shift to clean energy after global…

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