Articles Posted in the Green News category

Briefs: Kenya thinks nuclear, crunch hits carbon trade and Chad pipe dream ends

September 16, 2008
Posted in Green News

Power hungry: Kenya is considering building a 1,000MW nuclear power station.

Carbon trade: Lehman Brothers, the US investment bank that has filed for bankruptcy protection, has closed its carbon trading desk, Reuters reports. The bank has stakes is about 10 Clean Development Projects, mostly in China, a source told the news agency, which may have to be sold by liquidators. The impact of the credit crisis will probably be felt by the clean energy sector as banks limit their lending, says Reuters. The European Union reportedly needs about 85-billion Euros a year to reach its 2020 renewable energy targets.

Plate plan: Non-recyclable disposable plates and cutlery are to be taxed in France to encourage consumers to buy more eco-friendly products.

Money hungry: The World Bank has withdrawn from an agreement for an oil pipeline linking landlocked Chad to terminals on the coast of Cameroon because Chad’s government failed to “allocate adequate resources to poverty alleviation”, The Guardian reports. The deal was meant to bring much needed petrodollars to Chad. As part of the agreement Chad’s government had said it would spend 72% of the oil royalties on building schools, hospitals and roads. A significant amount of the money is thought to have been spent on the military. Chad has agreed to repay $140-million.

The oil crisis and the search for a new way of living

September 9, 2008
Posted in Renewable energy, Transport

Saliem Fakir looks at SA’s energy options and what can be done to improve our energy security.

We live in interesting times that promise both peril and opportunity. Things have changed so fast within the span of just a year that it’s putting a strain on our ability to adapt.

It took five years from 2002-2007 for the oil price to go up by $60/barrel; but in the last 12 months, the price of oil surged by an additional $70/barrel.

The surge in oil prices is making life for everybody uncomfortable, as its ripple effects are being felt throughout the global and South African economies. It has, however, brought home the urgency to find solutions. The whole world is in the throes of a massive cycle of innovation. There lie two possible pathways before us. Read more

Carbon credit check

May 29, 2008
Posted in Green News

The United Nations Clean Development Mechanism, which was set up as a way to fund carbon emission reduction projects in developing countries, has been criticised by Stanford University academics who found that a large number of the projects applying for credits should not qualify for assistance, the Guardian reports. “They would be built anyway,” says David Victor, law professor at the Californian university. “It looks like between one and two thirds of all the total CDM offsets do not represent actual emission cuts.” Read the full Guardian article

ExxonMobil boss outlines environment strategy
AFP reports that US oil giant ExxonMobil has been forced by its shareholders to consider its environmental impact. Chairman and chief executive Rex Tillerson said his environmental strategy was to improve the efficiency of the company’s operations and develop products to help customers use oil and gas more efficiently. He did not make any promises to invest in alternative fuels, saying oil and gas would be the primary source of energy for a long time yet. Alternative energy sources such as wind, solar and biomass would grow dramatically, but would account for only 2 percent of global energy demand by 2030, he said. Read full report on Terra Daily