Former environment secretary and Brexiteer Owen Paterson
Former environment secretary and Brexiteer Owen Paterson

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Brexit: Mapping reveals campaign links to climate sceptics

There is a deep-rooted connection between UK climate science deniers and those campaigning for Britain to leave the European Union according to new mapping by DeSmog UK.

Leaving the EU would allow a UK government to more easily row back on it’s existing commitments to invest in clean energy and tackle climate change.

Writing in The Guardian Caroline Lucas and John Ashton lobby for a Remain vote arguing:

“Brexit would leave the field clear for those on the right who always hated the idea that by intervening in the economy for the public good we should build an energy system that is clean, efficient, decentralised and driven by the needs of households and communities, not overbearing private corporations.”

UK energy: Warnings of power shortages

Britain should brace itself for a winter of tight electricity supplies that will force National Grid to use its last-resort measures and push wholesale prices up, according to a new analysis reported in the FT.

The ongoing power-crunch has sparked moves to increase interconnection with the European energy market where power is cheaper.

The Times reports that Britain is set to double the amount of electricity it imports from France under plans to construct a new £1.1 billion subsea power cable.

The Times does not speculate on the near-term prospects for such investments in a Brexit scenario (but you can ask the grid).

Oil: Rising prices brings shale back on stream pushes prices back down

For a commodity dominated by an organised cartel set up for the explicit purpose of manipulating prices the oil market is behaving surprisingly like… a market.

Bloomberg reports that in the US a 90% increase in prices from their 12 year low has seen drillers re-start drilling.

But it is a different world now to the shale boom of a few years ago, reports the FT, with some firms now able to thrive even at today’s prices it means that anyone who needs oil to be MORE expensive than it is now is potentially in long-lasting trouble.

The impact of this ‘soft cieling’ on the price of oil is, indeed, already being felt. Bloomberg also reports that Crude fell a third day after the number of rigs drilling for oil in the U.S. rose for a second week and their gadfly section goes into greater detail. 

Here is the whole argument in a chart:

Coal: Japan to return to coal as dominant power source as India coal hunger continues

Bloomberg reports that coal is set to overtake gas within the next three years as the largest generator of power in Japan as power utilities replace aging nuclear capacity with the fossil fuel, Bloomberg New Energy Finance said.

Bloomberg also forecast that India would see the highest growth in energy and fuel demand. The country’s electricity demand is forecast to grow 3.8 times between 2016 and 2040 with coal playing a big role.

“Despite investing $611 billion in renewable in the next 24 years, and $115 billion in nuclear, India will continue to rely heavily on coal power stations to meet rising demand. This would result in trebling of its annual power sector emissions by 2040,” said the report.

Renewables: Deals in India, Saudi Arabia as renewables investments grow

The WSJ reports that India’s Tata Power Co. plans to acquire renewable-energy company Welspun Renewables Energy Pvt. Ltd. in a deal with an enterprise value of 92.49 billion rupees ($1.38 billion).

It’s not the only big news in renewable investments this morning. Saudi Arabia’s state electricity utility is seeking bids from international developers to build two solar-power plants in the kingdom’s northern region.