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Institutional Investor (March 1)

2018/ 03/ 04 by jd in Global News

New York City “is aiming for full divestment of coal, oil, and gas from its $189 billion retirement system–but could get sued in the process” if such a move is deemed contrary to fiduciary duty. If they successfully divest the roughly $5 billion in assets linked to fossil fuel, however, “New York’s pension funds would be the first major U.S. retirement system to rid itself of fossil fuels.”

 

Newsweek (January 18)

2018/ 01/ 20 by jd in Global News

“As 2018 begins, the United States has become the largest producer of gas, oil, and coal in history. Its stock market is at record levels. The economy is growing at a 3 percent rate—and unemployment may dip below 4 percent, even though some commentators have claimed over the last decade that it likely would never fall below 5 percent again. The auto, steel, manufacturing, financial, agricultural, and high-tech industries are ascendant.”

 

Nordic Business Insider (November 17)

2017/ 11/ 19 by jd in Global News

“Norway’s $1 trillion pension fund wants to ditch all oil and gas stocks.” The irony of the proposed move is that the Government Pension Fund of Norway has become the world’s largest sovereign wealth fund by investing Norway’s oil and gas revenue. The move is not being proposed as a bet against petroleum, but rather to mitigate risk through diversification. “The fund’s exposure to fossil fuel markets is currently double that of a standard global fund.”

 

Newsweek (November 1)

2016/ 11/ 03 by jd in Global News

“Elon Musk could likely have more influence on America’s future foreign policy than whoever ends up as president” if he delivers on his promise of an all-electric version of his Model S car that matches “the driving distance of a gas-powered sedan at a comparable $30,000 price tag by 2020.” If he can pulls this feat off, “the geopolitical effects will be greater than anything since World War II. Maybe even greater.”

 

Nikkei Asian Review (April 20)

2016/ 04/ 21 by jd in Global News

“Transportation and logistics networks brought to a standstill by the recent earthquakes in Kyushu are starting to return to life, while utilities are striving to restore such crucial services as electricity and gas.” Kumamoto Airport has partially reopened and the shinkansen resumed service to Kagoshima, but nearly 100,000 households still lack running water and gas. In contrast, electricity has been restored to all but 6,500 households.

 

Financial Times (June 14)

2015/ 06/ 15 by jd in Global News

“The slow pace of the shift away from fossil fuels is evidence of their compelling advantages in terms of cost and convenience. Tackling the threat of catastrophic climate change cannot rely on wind and solar power alone but requires multiple changes, including a shift within fossil fuels away from coal towards gas.”

 

The Economist (January 17)

2015/ 01/ 18 by jd in Global News

“The fall in the price of oil and gas provides a once-in-a-generation opportunity to fix bad energy policies.”Governments around the world should “seize” this chance.

 

Wall Street Journal (July 8)

2014/ 07/ 08 by jd in Global News

“Just when the Ukraine crisis makes clear that the need to diversify Europe’s gas supplies couldn’t be greater, Germany wants to ban fracking.” If Environment Minister Barbara Hendricks gets her way, “most forms of hydraulic fracking will be prohibited until 2021,” cutting Germans off from the estimated 2.3 trillion cubic meters of shale gas that lies within their border.

 

Forbes (June 16)

2014/ 06/ 16 by jd in Global News

Putin’s oil deal with China should hardly rate a footnote. It amounts to “an annual average of $13 billion.” And rather than being a groundbreaking strategic alliance, “the deal with China underscores Russia’s core weakness. Despite its immense resources and highly educated population… Russia has a shockingly small economy that is amazingly dependent on the export of oil, gas and a few other natural resources.”

 

The Economist (April 5)

2014/ 04/ 06 by jd in Global News

“Reducing Europe’s dependence on Russian gas is possible—but it will take time, money and sustained political will.” With his belligerence and threats, Putin has indirectly done Europe’s leaders a favor by galvanizing their collective will. “They already knew what to do. They just didn’t want to do it.”

 

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