Energy Top Stories

University of California sells off $200 million in coal, oil sands assets

Chief Investment Officer Jagdeep Bachher said the assets were no…

Duke Energy, U.S. Gov’t end 15-year-old Clean Air Act litigation

The company still denies the alleged violations, but has agreed…

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Public’s support of nuclear power waning; Brits and Americans buck the trend

A BBC poll enquiring about the public's appetite for nuclear power has delivered some surprising results. The poll by GlobeScan, commissioned for the BBC, asked 23,231 people in 23 countries with nuclear programs their opinions on nuclear power. It found that most are significantly more opposed to nuclear power than they were in 2005, with just 22% agreeing that "nuclear power is relatively safe and an important source of electricity, and we should build more nuclear power plants."

Google retires initiative to make renewable energy cheaper than coal

Energy Efficiency News reports internet giant Google has quietly announced that it is to retire its ‘Renewable Energy Cheaper than Coal’ or RE<C initiative, which it launched in 2007 saying "other institutions seem better positioned than Google to take this work to the next level." Google spearheaded various projects and made investments in companies working on potentially ‘breakthrough’ technologies, including $168 million for a solar tower project in California and geothermal mapping. As part of its broader renewable energy programme Google has made several investments totaling more than $850 million in the US and Germany.

Coal of Africa jumps 8% after coming to green understanding

London-listed Coal of Africa and various environmental groups buried the hatchet on Thursday to work together to preserve Mapungubwe in northern South Africa near the company's controversial Vele opencast project. Construction of the coking coal mine was halted and the Australian company fined $1.3 million because it did not comply with aspects of environmental laws, but the green coalition has now agreed to drop all legal action. Coal of Africa Limited closed at 49.52 pence in London on Thursday up 8.2% on the previous day.

Syncrude operator unearths rare fossil, believed to be complete Wapuskanectes

Syncrude's heavy equipment operator, Maggy Horvath, unearthed what may be a nearly complete plesiosaur and the 10th fossil found on Syncrude leases. The discovery contributes to Alberta's prehistoric history and the understanding of the evolution of life on Earth. The fossil, which Horvath found during her shift on November 14, 2011, is currently being examined by scientists and technicians from the Royal Tyrrell Museum of Palaeontology. "This is a very rare find. It's a long necked plesiosaur, which is a marine reptile with a very long neck, small head and short body. The last one that was recovered was 10 years ago; it was recognized as a new kind and given the name Wapuskanectes," said Dr. Don Brinkman, Director at Royal Tyrrell. "It felt pretty good to call my son and let him know that I found a prehistoric fossil while working in the mine," said Horvath.

Tanzania says uranium project in wildlife sanctuary on track

Mining Review reports the government of Tanzania has allayed fears over likely land disputes between uranium investors and local residents in the Ruvuma region of southern Tanzania, and is confident that the envisaged uranium project in the area will be operational late next year. The controversial uranium mine is located inside the Selous Game Reserve, Africa’s second-largest wildlife sanctuary and a Unesco heritage site. Australia’s Mantra Resources project in the southern part of the 54,600-square kilometre park is estimated to have 53.9 million pounds of uranium oxide deposits which is worth some $2.7bn at current market prices. Officials claim that mining would only involve about 1% of the park’s overall area and that income accrued from mining would help fund upkeep of the park, but environmentalists have slammed the plan.

Pacific Northwest coal battle ignites

The US coal industry has settled on an unlikely candidate to build America's largest coal terminal. Bellingham is a small coastal city 32 kilometers south of the Canadian border known for being one of the few cities in the US to rely solely on solar and hydro-generated electricity and its innovative building efficiency program. Plans are now underway for a new $500 million bulk dry goods facility to ship 28 million tonnes of coal and potentially 8 million tonnes of potash to Asian markets and HuffingtonPost reports the plans have sparked a fierce fight in this otherwise quiet college town of 81,000 residents.

It’s worse than you think: Dr. Copper is Dead

Reuters reports copper hit a one-month low on Wednesday, pressured by worries about the outlook for demand after factory growth in top consumer China slowed in November, a poor bond sale in Germany intensified concerns about the euro zone debt crisis and US efforts to tackle its budget continued to flounder. Three-month contracts for the red metal fell to a one-month low at $7,168 a tonne in intra-day trade in London and extended its losses in New York where it was trading at $3.27 a pound by early afternoon, its lowest level since October 25 and down 30% from its 2011 high of $4.61 set in February. Copper used in the power, telecoms and construction sectors is often seen as a barometer for economic growth, but a new research report suggests "Dr. Copper is Dead" and that the red metal, along with oil, have actually been lagging other economic indicators. In short: things may well be even worse than the fall in the copper price suggests.

Canada’s oil exports to triple by 2035 thanks to in situ production

Canada's net crude oil exports will triple by 2035 due to in situ production and not hydraulic fracturing, according to a report by the National Energy Board released on Tuesday. Oilsands accounts for 55% of Canada's oil production today rising to 85% 24 years from now. "By 2035, in the Reference Case, oil sands bitumen production is projected to reach 811 thousand m³/d (5.1 million bbl/d), three times the production for 2010."

Coal and ports investments set to transform Mozambique

Reuters reports the board of Brazil's Vale has approved a $6 billion expansion of its Moatize coal project in Mozambique to lift output to 22 million tonnes per year from the 11 million tonnes it expects to mine initially with first production forecast for the second half of 2014. The country's Tete province is believed to hold one of the world's largest untapped coal reserves that has been compared with Australia's coal-rich Bowen Basin. Mozambique suffered a 15-year long civil war that ended in 1992 and remains one of the poorest countries in the world, but the ex-Portuguese colony 7% economic growth this year is forecast to accelerate thanks to billions in mining and infrastructure spending. The Mozambique metical is also the world's best-performing currency.