Australian coal

Top stories
1) Coal finance: Bank of America halts coal finance

Bank of America is cutting off its financing for coal extraction projects, the company announced at its shareholder meeting Wednesday, reports HuffPo and others.

Banks handed $144bn to coal industry in 2014, despite warnings from scientists on climate change, Business Green also reports.

2) Battery storage: Tesla battery demand “off the hook”

On an investor call Elon Musk, Tesla’s CEO said that demand for Tesla Energy batteries is “crazy off the hook”. Tesla reported a Q1 loss but outperformed expectations, Reuters writes.

Meanwhile in Australia a battery trial is taking place – the Sydney Morning Herald says this could kill the anti-renewable energy argument once and for all.

3) Fracking: Studies find fracking fluid contaminates Pennsylvania wells, fracking causes Oklahoma earthquakes

Three Pennsylvania wells were likely contaminated by fracking – not just methane but fracking fluid – causing the wells to froth, Ars Technica reports.

The FT covers calls for a fracking industry crackdown, promted by scientists saying the shale boom’s to blame for Oklahoma’s earthquakes.

Meanwhile in Europe, Denmark has suspended the first exploratory drilling for shale gas which lasted only one day after it discovered that French gas-giant Total, in charge of the project, had used “unauthorized” chemicals, RT reports.

And, will fracking decide the election result in the UK’s Chester constituency? asks the BBC.

In other news

Canada tar sands: Uncertainty in the oil patch hits energy stocks after Alberta win for centre-left NDP after 40-year Conservative reign, reports Globe and Mail.

India renewables success: India increases renewable energy capacity by 13%, beats target, writes Clean Technica, while India’s first satellite-controlled solar plant opened in Punjab.

Oil price recovery: Oil dips from 2015 highs, markets still well supplied, according to Reuters.

Hawaii aims high: Hawaii legislature approves 100% renewables target, The Australian writes.

Energy transition jobs: The WSJ analyses the prospects for alternative jobs to the coal industry on a Navajo reservation.