1) Global coal fightback: Coal giant says coal still the future
The boss of the world’s biggest supplier of sea traded coal for the power sector, Glencore, has criticized global leaders for failing to invest more in clean coal and pursuing ‘populist’ anti coal policies.
Peter Freyberg, head of Glencore coal, said “Coal is still the most abundant, most economic and the most reliable means of delivering access to energy and supporting a rise in living standards in many developing economies,” and insisted coal use was on the up and up.
His comments come as Bloomberg reports that the world’s biggest coal miners – including Glencore – have so far found themselves immune to a global campaign to sell coal stocks – because they do far more than just mine coal and so are excluded from the criteria.
The article includes data from the World Coal Association suggesting that new coal plants installed this year will up global coal use significantly. The WCA argues ministers shouldn’t ignore coal, but should support the industry to install the ‘Best Available Technology’ to make coal more efficient.
But whilst Glencore may be looking for coal driven opportunities for growth (reports Reuters) rival Peabody is cutting jobs in Australia as coal prices hit lowest levels in a decade. The fight over the future of coal comes as the oil price falls back below $60 and European oil and gas executives mount calls for coal – not oil – to be left in the ground.
2) UK energy: Chinese to build tidal lagoon as wind developers threaten legal action
The FT reports that a Chinese construction company has been chosen to build the world’s first tidal lagoon project for generating clean electricity in Britain.
3) Climate talks: Current pledges will only delay warming
Pledges made by countries to cut their carbon emissions ahead of a crunch climate summit in Paris later this year will delay the world passing the threshold for dangerous global warming by just two years, according to a new analysis – reports The Guardian.
The analysis comes even as some of the pledges are decried as implausible. Reuters reports that Japan’s target is both unambitious and unrealistic as it depends on a huge revival of the country’s beleaguered nuclear sector – unlike California which is pressing on with ambitious renewables and clean energy targets, reports The Guardian.
Don’t worry though. Ikea will sort it all out, the FT say they plan to spend a billion euros on measures to tackle climate change.
In other news
– Global shale: How it’s all gone a bit wrong for the shale revolution in Texas
– UK energy politics: Why it’s going to be hard to cut the energy department
– Global shale: What happened to the EU’s shale revolution (it’s been cancelled apparently)