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Tag Archives: emissions

California’s new clean car goal faces roadblocks, starting with election: Fuel for Thought

In California, greenhouse gas emissions produced by this year’s record-breaking wildfire season have climbed past the industrial, power and residential emissions categories and could even overtake transportation as the top polluter, according to estimates by S&P Global Platts Analytics. The scale and devastation of the California wildfires have also added urgency to the state government’s climate priorities, with the latest measure targeting that top emitter, cars. Governor...

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Commodity Tracker: 4 charts to watch this week

This week’s Commodity Tracker kicks off with a look at easing stocks of refined oil products at the Middle East’s biggest storage hub of Fujairah, as well as the prospects for gas supply in Europe over winter amid bulging storages. The return of 2.7 GW of capacity to the German and Dutch power markets goes some way to easing fears of shortages with French nuclear capacity low, and European steel plants are eyeing up improved margins for 2021. 1. Fujairah oil stocks drop to eight-month low as...

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Insight from Brussels: EU’s climate goals could disrupt global commodity flows

The EU’s aim to be the world’s first climate-neutral region by 2050 could disrupt global commodity trade flows, as it mulls ways to cut its emissions while protecting its industry and raising money for postpandemic recovery spending. The European Commission wants EU governments to focus on switching more sectors to renewable electricity, improving energy efficiency, and replacing fossil fuels with hydrogen and other low-carbon gases and liquids, as part of its European Green Deal strategy to...

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As jet fuel market craters, sustainable aviation fuel prepares for takeoff

Welcome aboard Pandemic Flights, with service today at half that of a year ago. In this emergency event, please place your mask over your mouth and nose, and keep it there for the whole flight. There is no cruising for airlines at this unknown economic altitude, but the crew may just offer today’s meal … as tomorrow’s jet fuel. Few industries have suffered as much from the coronavirus pandemic worldwide as airlines. Worldwide commercial airline traffic reached 54,308 flights a day on August...

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The path to net zero: oil majors’ transition strategies and capital spending

This year may be remembered as a tipping point for the oil and gas industry. In the midst of a global pandemic and economic lockdown that are expected to wipe out over 8 million b/d of oil demand, producers have slashed capital spending to the lowest in 15 years. Crude and condensate output is forecast to fall 7% year on year, dipping below 80 million b/d, and oil prices in late August remained around $20/b below 2019 average levels. In almost any other year, these cuts to capital spending...

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Commodity Tracker: 5 charts to watch this week

As the 36th Asia-Pacific Petroleum Conference (APPEC) opens, this week’s Tracker kicks off with a look at Saudi crude oil pricing into Asia. In Europe, meanwhile, steel prices are recovering, and carbon emission allowances face a volatile period amid legislative change. 1. Largest Saudi crude OSP cuts are to Asia; headwinds to higher exports remain     What’s happening? Saudi Aramco cut Official Selling Prices (OSPs) to nearly all regions on low refining margins and weak market...

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BP’s summer surprise shines spotlight on stranded oil, gas assets: Fuel for Thought

BP’s bold August strategy move for a faster pivot to cleaner energy shows the extent to which Big Oil has been forced to consider the financial consequences of climate change on fossil fuels. The major’s much-vaunted shift to become an integrated energy company (IEC) and face the energy transition head-on took some by surprise. The industry’s push into renewable energy, electrification and ever more ambitious pledges to pursue net-zero emission targets has been a slow but...

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After IMO 2020, decarbonization in spotlight for shipping sector: Fuel for Thought

Shipping companies in Asia and around the globe are steaming ahead with efforts to minimize their carbon footprint as the urgency to decarbonize intensifies after a fairly smooth transition to the International Maritime Organization’s low-sulfur mandate for marine fuels. The IMO in April 2018 laid out its strategy to reduce the shipping industry’s total greenhouse gas emissions in 2050 by at least 50% from 2008 levels, and to reduce CO2 emissions per transport work by at least 40%...

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ESG and mining: sustainability after coronavirus

As the world battles the coronavirus pandemic and resulting economic fallout, industries of all types face the urgent challenge of securing their short-term financial future. But the debate about environmental, social and governance concerns has been far from drowned out by the global health crisis, even taking on new meaning as companies’ responsibilities toward worker and community health came to the fore. For the mining sector, ESG was undoubtedly a business buzzword in 2019, but its main...

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US election and climate policy: Biden platform points to carbon price with broad coverage

With former Vice President Joe Biden now the presumptive Democratic nominee in the upcoming 2020 presidential election, a better sense of US climate policy under a potential new Democratic administration is now taking shape. While Biden has said that he would recommit the US to the 2015 UN Paris Agreement on climate change, additional domestic policies will be necessary to meet the greenhouse gas (GHG) target that the US originally committed to under this agreement, of a 26-28% cut vs. 2005...

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