There's just too much oil above ground right now.
There's just too much oil above ground right now.

Top stories

China: Fighting smog, clean energy gaining ground amidst coal decline

China’s figures stating a definitive coal decline are in the news, and Bloomberg reports on its replacements – renewables and nuclear. And nuclear stocks are being sold short due to the oil slump – making CGN Power and CNNPC an attractive investment.

And the BBC has an information-packed guide to how China is winning its war on smogwith expert voices weighing in.

Oil oversupply: IEA warnings, renewables safe, US shale’s lament

Reported almost everywhere is the IEA warning that the world is “drowning” in oil and the oversupply will continue to the end of the year – with prices likely to fall below the current 12-year low.

The Huffington Post’s business editor Alexander C. Kaufmann offers a rebuttal to the conventional wisdom that cheap oil poses a threat to renewables – by highlighting that they don’t actually compete.

Meanwhile Ben Marlow at The Telegraph writes on the decline of US shale – the expensive process of fracking (compared to conventional drilling in the likes of Saudi Arabia) finds itself unable to compete during such a glut.

And Bloomberg reports that Gulf countries stand to save as much as $87bn from lower oil and gas consumption if they achieve their renewables goals, according to IRENA – the International Renewable Energy Agency. There’s also 207,000 renewables jobs by 2030 to look forward to.

Business: Davos snubs climate threat as DiCaprio attacks “greedy” oil, gas & coal cos; Shell-Nigeria tax break scandal

Geopolitical uncertainty, over-regulation and cyber attacks are among the biggest threats to business, a survey of CEOs at Davos finds. The review shows a relativelack of concern about climate change among business leaders, casting doubt on the impacts of the UN climate change summit in Paris late last year.

Meanwhile in the same forum, climate campaigning actor Leonardo DiCaprioattacks the “corporate greed” of coal, oil and gas companies while being honoured for charitable works by the World Economic Forum in Davos.

And finally oil giant Shell has come under fire for being part of a consortium thataccepted an “extraordinary” $3.3bn tax break in Nigeria – and that’s twice the country’s annual health budget.

In other news

Solar: Panasonic launches ‘try-before-you-buy’ solar simulation service

India: Solar power costs drop to record in Rajasthan auction

UK fracking: Conservative MP resigns from parliamentary shale gas group over industry funding

Nevada: Angry solar customers sue over new fees

Climate deniers: Attack climatologist over working with cancer diagnosis