Paris: COP will go on
The major international climate talks to be held in Paris from 30 November will still be going ahead despite the terrorist attack in Paris on Friday. The summit will be held with “extremely tightened” security around Le Bourget.
The French energy minister Segolene Royale said in Le Point “If not, terrorism wins”.
UNFCCC executive secretary Christiana Figueres tweeted:
— Christiana Figueres (@CFigueres) November 15, 2015
Top French climate diplomat Laurence Tubiana tweeted:
Profound emotion receiving so strong support to maintain #COP21. Humanity, courage, solidarity winning over fear and terror.
— Laurence Tubiana (@LaurenceTubiana) November 15, 2015
Over 100 heads of state are expected to attend, and according to AFP Obama is still planning to go.
The act of terrorism means plans for green groups to march on the streets of Paris ahead of the summit may now be altered.
UK: Amber Rudd to announce emphasis on energy security, bills
The Telegraph’s Emily Gosden reports on the long-awaited energy policy reset speech, which climate and energy secretary Amber Rudd is expected to make on Wednesday.
In the speech, Rudd is expected to announce a new focus on keeping the lights on following a recent capacity from the National Grid on a day that several coal plants were out.
She will also say that keeping energy bills low will be balanced with the need to decarbonise, blaming previous incumbents of the role for expensive renewable generation subsidies.
This will come just over a week since revelations that the UK is behind on its renewable energy target for 2020.
Ed Davey, former energy and climate secretary in the coalition recently warned that a rollback of renewables support will increase bills in the long run.
Rudd will also say she wants a level playing field for energy subsidies, a concept that has been criticised as hypocritical while huge subsidy contracts for nuclear generation are going ahead.
Paris: Oil price jumps slightly on Syria airstrikes
Oil prices edged up on Monday as France launched large-scale air strikes against Islamic State in Syria, but analysts said commodities were expected to remain under pressure as oversupply weighs on prices, according to Reuters. Though this geopolitical layer of uncertainty may not add too much disruption to the market.
Only yesterday one analyst was asking in Forbes if WTI crude was going to plunge below $40 a barrel.
Meanwhile oil giants – Shell, BP, Exxon Mobil and Chevron – seem to have weathered the storm of low oil prices so far. Dividends were up in Q1-3 of this year despite earnings falling.