Brexit: What now?

Brent crude tumbles to seven week low, on dollar rally, Brexit turmoil
The crude oil price dropped by close to 3% yesterday, due in part to market uncertainties surrounding Brexit, says Reuters. Brent and US crude have fallen almost 8% since the vote on Thursday.

As concern among climate change campaigners turns to the Paris agreement, Climate Home reports that EU envoys will meet in Berlin next week for talks.

DeSmog muses on the rise of energy and climate minister – and Brexiteer – Andrea Leadsom and what this might mean for climate change

In the Guardian, experts are reporting that the leave vote makes the transition to clean energy harder.

In the New Statesman, campaigners are asked to take note because Brexit is likely to see energy prices rise

Caroline Lucas denies rumours she is set to serve as shadow energy and climate secretary in Corbyn’s cabinet, according to BusinessGreen

Meanwhile the world goes on. Elsewhere:

Volkswagen reach settlement
The German car manufacturer has reached a settlement and it’s not cheap.

Sources say that VW will spend £11.3bn on repairs, buy backs and compensation for US car owners after admitting to rigging emissions tests, according to the BBC. It will also pay to offset diesel emissions and support zero emission vehicles, reports Reuters. 

The deal is awaiting judicial approval, but if reports are true, the car scandal settlement would be the largest in U.S history.

Clean energy deal agreed by US, Canada and Mexico
They’ve called it the “Three Amigos” summit.

The White House has announced that Barack Obama, Justin Trudeau and Enrique Peña Nieto will commit to a new clean energy deal later this week that will see their respective countries produce 50% of their power by 2025 from hydro, wind, solar, carbon capture and storage and nuclear. The target also incorporates energy efficiency measures.

The three countries currently produce 37% of their power from “clean sources”, on average.

Tesla takeover
Following the announcement last week that Tesla has launched a bid to acquire SolarCity,  the solar manufacturer said yesterday it has formed a board – of just two directors – to consider the £2.1 billion offer.

The committee has also said it will look into “a broad range of strategic alternatives”

BMW enters home energy storage market
Talking of all things Tesla, and therefore all things energy storage, BusinessGreen reports that BMW has become the latest company to enter the race to develop the latest in home battery storage.

In China, Premier Li Keqiang has committed to cut capacity in steel and coal, says China Daily