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Pope warns oil executives: Climate change may ‘destroy civilization’ PDF Print E-mail
Earth News
Posted by Joan Russow   
Saturday, 09 June 2018 08:39
 
BY AVERY ANAPOL - 06/09/18 07:21 AM EDT  1,549
2,069
http://thehill.com/policy/energy-environment/391470-pope-warns-oil-executives-climate-change-may-destroy-civilization   
 
Pope warns oil executives: Climate change may ‘destroy civilization’
© Getty Images
 
 
Pope warns oil executives: Climate change may ‘destroy civilization’
© Getty Images
 
Pope Francis on Saturday issued a dire warning to top oil executives, saying that climate change could “destroy civilization.”
 
At a two-day conference at the Vatican, the pope called climate change a challenge of “epochal proportions,” according to Reuters.
 
He also said that the world must move toward using clean energy and a reduction in the use of fossil fuels.
 
“Civilization requires energy but energy use must not destroy civilization,” Francis said.
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Oilsands crude headed for price shock in 2020 due to new fuel standards PDF Print E-mail
Earth News
Posted by Joan Russow   
Friday, 08 June 2018 18:28
 
The coming marine shipping rules could double or even triple the discount on heavy oil, pushing it much wider than the US$30 a barrel discount from earlier this year
 
Raw oilsands. Tighter pollution rules by the International Maritime Organization is expected to wallop prices for heavy oil containing high levels of sulphur.Jeff McIntosh/The Canadian Press
The Canadian Press
Dan Healing
 
http://business.financialpost.com/commodities/energy/new-marine-fuel-standards-expected-to-hit-prices-for-oilsands-crude-in-2020June 7, 2018
 
1:43 PM EDT
 
Raw oilsands. Tighter pollution rules by the International Maritime Organization is expected to wallop prices for heavy oil containing high levels of sulphur.Jeff McIntosh/The Canadian Press
 
 
 
CALGARY — Canada’s oilsands industry, hard hit by a price storm this year, could be sailing straight into a pricing typhoon stirred up by new fuel standards for the international shipping industry.
 
The tighter pollution rules by the International Maritime Organization, dubbed IMO 2020, are set to take effect Jan. 1, 2020, resulting in the sulphur content limit of “bunker” fuel on ships dropping from 3.5 per cent to just 0.5 per cent.
 
The switch is expected to wallop prices for heavy oil containing high levels of sulphur — exactly the kind of the raw bitumen that makes up about half of Canada’s 4.4 million barrels per day of crude oil production.
 
“It’s bad news for any producers of heavy, sour crude oil,” said Martin Tallett, president of Massachusetts-based oil market research firm EnSys Energy.
 
“The shock is going to go through the system and affect all products, all regions.”
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IUCN Director General’s statement for World Environment Day and World Oceans Day 2018 PDF Print E-mail
Earth News
Posted by Joan Russow   
Tuesday, 05 June 2018 07:40
IUCN Director General’s statement for World Environment Day and World Oceans Day 2018
Tue, 05 Jun 2018
 
We have all seen the images of plastic polluting beaches and entangling marine animals from the tropics to the Arctic. Plastic pollution has become a truly global environmental problem, just as plastic itself is an all-pervasive part of our lives. On this World Environment Day, we are reminded that this challenge has no easy solutions. As such, we must accept that looking for a silver bullet will create the illusion of progress while the real problem only gets worse.
 
Marine life faces growing threats from plastic entering the world's oceans. 
 
Marine life faces growing threats from plastic entering the world's oceans.
 
 
 
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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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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/
 
 
alt
 
 
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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