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'Carbon bubble' could spark global financial crisis, study warns Advances in clean energy expected to cause a sudden drop in demand for fossil fuels, leaving companies with trillions in stranded assets PDF Print E-mail
Earth News
Posted by Joan Russow   
Tuesday, 05 June 2018 03:28

'Carbon bubble' could spark global financial crisis, study warns

Advances in clean energy expected to cause a sudden drop in demand for fossil fuels, leaving companies with trillions in stranded assets

 

Fiona Harvey Environment correspondent

 

https://www.theguardian.com/environment/2018/jun/04/carbon-bubble-could-spark-global-financial-crisis-study-warns

 

 

Carbon Bubble Crisis

 

A sudden drop in demand for fossil fuels could happen before 2035, a new study shows. Photograph: Florian Gaertner/Photothek via Getty Images


Lignite-fired power station in Poland

 A sudden drop in demand for fossil fuels could happen before 2035, a new study shows. Photograph: Florian Gaertner/Photothek via Getty Images

Plunging prices for renewable energy and rapidly increasing investment in low-carbon technologies could leave fossil fuel companies with trillions in stranded assets and spark a global financial crisis, a new study has found.

 

A sudden drop in demand for fossil fuels before 2035 is likely, according to the study, given the current global investments and economic advantages in a low-carbon transition.

 

The existence of a “carbon bubble” – assets in fossil fuels that are currently overvalued because, in the medium and long-term, the world will have to drastically reduce greenhouse gas emissions – has long been proposed by academics, activists and investors. The new study, published on Monday in the journal Nature Climate Change, shows that a sharp slump in the value of fossil fuels would cause this bubble to burst, and posits that such a slump is likely before 2035 based on current patterns of energy use.

 

Last Updated on Tuesday, 12 June 2018 10:33
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Breakthrough in explosive lawsuit against Monsanto PDF Print E-mail
Justice News
Posted by Joan Russow   
Sunday, 27 May 2018 18:51
 
 
By Jon Rappoport
https://www.opednews.com/articles/Breakthrough-in-explosive-by-Jon-Rappoport-Cancer_Carcinogenic_Evidence_Lawsuits-180525-497.html
 
From youtube.com: Monsanto: The Company that Owns the World's Food Supply {MID-294564}
Monsanto: The Company that Owns the World's Food Supply
 
(Image by YouTube, Channel: Business Casual)   Permission   Details   DMCA
 
 
A San Francisco lawsuit against Monsanto and its weedkiller, Roundup, is moving forward. And it's just received a new green light from the judge in the case.
 
Monsanto's lawyers are bracing for a deep level of attack, which they were hoping to avoid. The judge has ruled the jury can hear testimony on this issue: Monsanto suppressed evidence that Roundup causes cancer.
 
Reporter Carey Gillam has the story (The Guardian, 5/22):
Last Updated on Sunday, 27 May 2018 19:06
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NEW SHIP FUEL RULES COULD SINK TAR SANDS/OIL SANDS EXPANSION PDF Print E-mail
Earth News
Posted by Joan Russow   
Friday, 25 May 2018 12:30
 
OPINION & ANALYSIS
FULL STORY: THE ENERGY MIX @THEENERGYMIX
MAY 24, 2018
By PRIMARY AUTHOR PAUL MCKAY
http://theenergymix.com/2018/05/24/exclusive-new-ship-fuel-rules-could-sink-tar-sands-oil-sands-expansion/
 
 
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The law of unintended consequences may soon cause serious collateral damage to Alberta’s tar sands/oil sands ambitions, and the planned Trans Mountain and Keystone XL pipelines.
 
The United Nations International Maritime Organization (IMO) recently approved new, much stiffer fuel standards for the 50,000 ocean-going vessels which currently burn low-grade, high-sulphur oil. Known as Bunker C, it is cheap and dirty. An estimated four million barrels per day are burned in all manner of merchant ships, including oil tankers. The related greenhouse gas emissions roughly equal those from all sources in Germany.
 
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But the days of Bunker C are numbered. The fatal bullet will be sulphur-tipped. By 2020, the IMO has mandated that the commercial fleets it represents can only buy and burn ship engine oil with a sulphur content of 0.5%. That is a 700% reduction from the current average. It has been estimated that the 15 largest ocean vessels currently emit as much sulphur annually as all of the world’s cars.
 
And as that massive shift unfolds, Alberta’s tar sands/oil sands production will probably be in the crosshairs.
Last Updated on Friday, 25 May 2018 12:35
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Why Trump’s cancellation of the North Korea summit may undermine the US-South Korea alliance PDF Print E-mail
Peace News
Posted by Joan Russow   
Friday, 25 May 2018 06:31
By Karl Friedhoff Karl Friedhoff is a fellow in public opinion and Asia policy at the Chicago Council on Global Affairs.
https://thebulletin.org/why-trumps-cancellation-north-korea-summit-may-undermine-us-south-korea-alliance11847
 
24 MAY 2018
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Exploiting divides between the United States and South Korea on North Korea policy is standard operating procedure for Pyongyang. The cancellation of the Trump-Kim summit helps to further that goal. But the most serious fault lines for the US-Korea alliance lie within the alliance itself. Donald Trump’s treatment of South Korea is a throwback to a time when South Korea was poorer, weaker, and less influential. If it continues, it will lead South Koreans from across the political spectrum to question not just US bases in South Korea but the necessity of the alliance.
 
The South Korean public is generally distrusting of the North Korean regime. Kim Jong Un is the least favored leader in the region, averaging 0.77 on a 0-10 scale from August 2016 through November 2017. The next closest leader was Japan’s Shinzo Abe with an average score of 1.8 over that same period. In 2014, fewer than 10 percent thought North Korea would ever abandon its nuclear programs.
 
These views also color policy preferences of the South Korean public. In a 2015 survey, nearly 70 percent opposed resuming economic aid to North Korea and a plurality at that time preferred South Korea to maintain a hardline stance in its policy toward the North.
Last Updated on Friday, 25 May 2018 06:50
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Environmental Uncertainties Halt Deep Sea Mining PDF Print E-mail
Earth News
Posted by Joan Russow   
Tuesday, 22 May 2018 15:13

Environmental Uncertainties Halt Deep Sea Mining

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The Asia Pacific region is characterised by high marine biodiversity. Credit: Andrew Heyward/AIMS

SYDNEY, Dec 17 2012 (IPS) - The world’s first deep sea mineral (DSM) mining venture in the Bismarck Sea off the northern coast of Papua New Guinea in the southwest Pacific has come to a halt after two years of development.

While the mining company is embroiled in a disagreement over project funding, unprecedented opposition by politicians, academics and local communities has focussed on the unknown environmental and social impacts of this untried mineral extraction process.

Deep sea mining, considered the new resource frontier, has been the subject of debate since the 1960s. But financial and technological constraints have hindered the viability of ventures.

Now, the gradual depletion of land-based mineral resources, a rise in demand for metals by growing economies in Asia and rapid technological advances have generated new interest in deep sea mining.

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