Top 3 stories
1) UK General Election manifesto pledges scrutinised, other UK news
UK news is General Election-heavy these days, and with the Labour party manifesto came quite a bit of comment on their famed energy market reform pledges. The FT has the business leaders’ take; the Telegraph provides a critique from experts on energy market, tax and employment reform pledges.
And the BBC has a piece on some Lib Dem energy pledges, while we all wait for the rest of the manifestos to come out. We’ll be continuing to cover all their energy content, so stay tuned.
In other UK news, Loch Ness campaigners want wind out, Falklands oil exploration has stalled due to price concerns; Reuters reports ex-BP head Lord Browne has quit Riverstone and relinquished chairmanship of fracking firm Cuadrilla; and Shell is selling off 185 petrol stations due to weak oil prices.
2) China/India climate diplomacy; World Bank chief urges fossil fuel subsidy end
The Chinese premier Li Kequiang met with a US trade mission and committed to more clean tech cooperation.
Indian Prime Minister Narendra Modi has been in Germany defending his country’s record on nature on climate – saying they have the lowest per capita gas emissions and will set the agenda for the Paris COP later this year. Some contradiction have been noticed on his energy and climate stances however. The IEA’s chief economisthas put India’s energy investment needs at $100bn, while Energy Minister Piyush Goyal outlined a need to bring down 10% of energy usage in five years.
And the head of the World Bank has urged a total end to fossil fuel subsidies and the immediate introduction of a carbon tax to fight climate change. Business Green looks at his specific recommendations for Indonesia and Malaysia.
3) Global oil news
The IEA chief economist says there will be no immediate impact on prices as the prospect of a deal to lift Western sanctions on Iran nears.
And Obama has proposed tighter rules for offshore oil drilling equipment, almost exactly 5 years after the Deepwater Horizon spill.
In other news