Tag Archives: non-recourse finance

Weekly News Check-In 8/7/20

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Welcome back.

We’re covering a lot of ground, beginning with last week’s announcement that Liberty Utilities has cancelled the controversial Granite Bridge Pipeline project. While the utility’s move allows a continued increase of its natural gas footprint in New Hampshire, the very good news is they’ll proceed without a massive new infrastructure buildout. In other pipeline news, an appeals court decided to allow continued oil flow through the Dakota Access Pipeline. The Standing Rock Sioux Tribe will continue its opposition in defense of its vulnerable water resources.

Another notable protest action is underway in Alvin, a small rural California community at the southern tip of the San Joaquin Valley. Already burdened with heavy pollution loads from agriculture and oil extraction, the mostly low-income, Latino residents have joined with other communities to demand reasonable setbacks between populated areas and new drilling rigs – and the pollution that comes from them.

Between the Covid-19 pandemic, the related economic crash, and the urgency to address climate change, financial managers are “having a moment”. Divesting from fossil fuels is an easy call considering the sector’s uncanny ability to destroy capital – but what next? We found a report describing how a major investor group is thinking strategically about investments to achieve the Paris Climate Agreement goals.

The urgency for climate action continues to be underscored by new research. One study finds that global heat-related mortality may eventually equal deaths from all infectious diseases combined. Another study warns that whatever emissions levels we achieve, we should expect real-world climate response to be on the hot side (worst case) of what models predict for those levels.

Better buildings will be a major factor in lowering greenhouse gas emissions. We found two articles on efforts in the northeast to meet the challenge by improving affordable housing. Meanwhile, Massachusetts has taken a legislative step forward in clean energy and achieving net-zero emissions by 2050, while also moving to reduce power plant emissions during peak demand hours. All of which will benefit from continued innovations in energy storage technology.

We spotted a flashing yellow hazard light on the clean transportation speedway, related to the coming huge demand increase for electric vehicle battery materials like lithium and cobalt. We’re seeing a lot of interest in developing deep-sea mining – a new frontier with potentially catastrophic environmental consequences. The European Parliament and at least 80 organizations have called for a 10-year moratorium on deep-sea mining to allow for the study of potential impacts along with management and mitigation methods.

For our friends in Ohio who may be wondering why their state recently gutted its renewable and energy efficiency laws and incentives while simultaneously bailing out several coal and nuclear companies, we found a story that explains the whole sordid affair. It’s one of the worst utility scandals in the country.

While the fossil fuel industry continues to accumulate lawsuits, we see growing recognition among some of the major players that significant portions of their reserves – a primary basis for market valuation – are worthless in the sense that they can never be extracted, sold, and burned. BP leads the pack, along with some of the other European majors – but even Exxon recently admitted that 20% of global oil and gas reserves should be written off. We humbly suggest that number might be on the low side.

Liquefied natural gas is having its own troubles. Once considered a safe investment, the future is looking considerably less certain. In the last six years, 61% of LNG export terminal projects have failed. While many of those failures predated the current pandemic-related demand crash, the future outlook isn’t improving.

The myth of woody biomass as a sustainable, carbon-neutral fuel recently collided with the notoriously clear-eyed analytical thinking of the Dutch. According to a new policy, The Netherlands recognizes that biomass is an indispensable resource in the circular economy, and burning it is “wasteful”. Accordingly, they will rapidly phase out the use of biomass-to-energy plants. The rest of the European Union should follow their lead.

We finish with a story highlighting the challenges associated with recycling plastics, and the lure of the easy fix. While there are still no good solutions to the plastic waste problem, there are definitely bad ones masquerading as “recycling”.

— The NFGiM Team

GRANITE BRIDGE PIPELINE

stop the pipeline and tank
Liberty Utilities nixes Granite Bridge Route 101 pipeline project
By Alex LaCasse, Seacoast Online
July 31, 2020

The utility proposing to construct the controversial Granite Bridge pipeline along Route 101 between Manchester and Exeter is abandoning the project after seeking an alternative plan.

Liberty Utilities filed notice with state Public Utilities Commission Friday afternoon it now intends to enter agreement with the owner of the Concord Lateral pipeline to carry natural gas to its customers in central New Hampshire, ending its pursuit of constructing the Granite Bridge pipeline.

“We’ve been fighting this pipeline for three years,” said Epping resident Joe Perry, who was a driving force behind a 2019 citizens petition opposing Granite Bridge. “It’s a tremendous weight off our shoulders.”
» Read article             

» More about Granite Bridge Pipeline        

OTHER PIPELINES

DAPL undead for now
Appeals Court Halts Dakota Access Pipeline Shutdown Order
By Olivia Rosane, EcoWatch
August 6, 2020

The controversial Dakota Access Pipeline won a reprieve Wednesday when an appeals court canceled a lower court order mandating the pipeline be shut down and emptied of oil while a full environmental impact statement is completed.

The shutdown order, which would have gone into effect Wednesday, marked the first time a major oil pipeline was court ordered to cease operations for environmental reasons. But while its reversal is disappointing for pipeline opponents, Wednesday’s decision was not wholly favorable for the pipeline, either. The court refused to halt the initial order for a new environmental review of the pipeline’s crossing under the Missouri River, where the Standing Rock Sioux Tribe fears it will pollute its drinking water and sacred lands if it leaks.

“We’ve been in this legal battle for four years, and we aren’t giving up this fight,” Standing Rock Sioux Tribe Chairman Mike Faith said in an Earthjustice press release. “As the environmental review process gets underway in the months ahead, we look forward to showing why the Dakota Access Pipeline is too dangerous to operate.”
» Read article             
» Read the Earthjustice press release

» More about pipelines

PROTESTS AND ACTIONS

Committee for a Better Arvin
Tired of Wells That Threaten Residents’ Health, a Small California Town Takes on the Oil Industry
The mostly low-income, Latino residents of Arvin have joined with other communities to demand setbacks for wells. Their slogan: “No drilling where we are living.”
By Julia Kane, InsideClimate News
August 3, 2020

In Arvin, a small, agricultural town at the southern tip of the San Joaquin Valley, pollution is a pervasive part of life. Pesticides sprayed on industrial-scale farms, fumes drifting from the region’s ubiquitous oil and gas wells, exhaust from the trucks barrelling down Interstate 5—it all gets trapped in the valley, creating a thick haze. This year the American Lung Association ranked Bakersfield, just 15 miles northwest of Arvin, as the worst metropolitan area in the U.S. in terms of annual particle pollution.

Arvin’s residents, like people in many other parts of California, are especially concerned by the oil and gas wells sprinkled throughout their community. These wells, sometimes drilled and operated in close proximity to neighborhoods, schools, and health care centers, release a toxic mix of hydrogen sulfide, benzene, xylene, hexane and formaldehyde into the air.

Studies have linked living near oil and gas extraction to a wide range of adverse health effects, including increased risk of asthma, respiratory illnesses, preterm birth, low birthweight and cancer—serious fears for the more than two million Californians who live within a quarter-mile of operational oil and gas wells.
» Read article 

» More about protests and actions      

DIVESTMENT

Moscow power plant
Investors launch climate plan to get to net zero emissions by 2050
By Simon Jessop, Reuters
August 5, 2020

An investor group managing more than $16 trillion on Wednesday launched the world’s first step-by-step plan to help pension funds and others align their portfolios with the Paris Agreement on climate change.

Many investors have pledged high-level support to the goals of the 2015 Paris deal, but the “Net Zero Investment Framework” is the first to lay out the steps they need to take to ensure the commitment is backed up by the necessary action.

Specific targets could include increasing the percentage of assets invested in low-carbon passive indexes and ensuring the leaders of investee companies link pay to climate-related targets.

“Countries, cities and companies around the globe are committing to achieve the goal of net zero emissions and investors need to show similar leadership,” said IIGCC Chief Executive Stephanie Pfeifer

“The willingness is there, but until now the investment sector has lacked a framework enabling it to deliver on this ambition.”
» Read article

» More about divestment          

CLIMATE

cool-off
Rising temperatures will cause more deaths than all infectious diseases – study
Poorer, hotter parts of the world will struggle to adapt to unbearable conditions, research finds
Oliver Milman, The Guardian
August 4, 2020

The growing but largely unrecognized death toll from rising global temperatures will come close to eclipsing the current number of deaths from all the infectious diseases combined if planet-heating emissions are not constrained, a major new study has found.

Rising temperatures are set to cause particular devastation in poorer, hotter parts of the world that will struggle to adapt to unbearable conditions that will kill increasing numbers of people, the research has found.

The economic loss from the climate crisis, as well as the cost of adaptation, will be felt around the world, including in wealthy countries.

In a high-emissions scenario where little is done to curb planet-heating gases, global mortality rates will be raised by 73 deaths per 100,000 people by the end of the century. This nearly matches the current death toll from all infectious diseases, including tuberculosis, HIV/Aids, malaria, dengue and yellow fever.
» Read article             
» Obtain the study         

expect the worst
The Worst-Case Scenario for Global Warming Tracks Closely With Actual Emissions
With scientists divided between hope and despair, a new study finds that the model projecting warming of 4.3 degrees Celsius is “actually the best choice.”
By Bob Berwyn, InsideClimate News
August 3, 2020

When scientists in the early 2000s developed a set of standardized scenarios to show how accumulating greenhouse gas concentrations in the atmosphere will affect the climate, they were trying to create a framework for understanding how human decisions will affect the trajectory of global warming.

The scenarios help define the possible effects on climate change—how we can limit the worst impacts by curbing greenhouse gas emissions quickly, or suffer the horrific outcome of unchecked fossil fuel burning.

The scientists probably didn’t think their work would trigger a sometimes polarized discussion in their ranks about the language of climate science, but that’s exactly what happened, and for the last several months, the debate has intensified. Some scientists say the worst-case, high emissions scenario isn’t likely because it overestimates the amount of fossil fuels that will be burned in the next few decades.

But a new study published Monday in the Proceedings of the National Academy of Sciences argues that the high-end projection for greenhouse gas concentrations is still the most realistic for planning purposes through at least 2050, because it comes closest to capturing the effects “of both historical emissions and anticipated outcomes of current global climate policies, tracking within 1 percent of actual emissions.”
» Read article
» Read the PNAS report

» More about climate     

BETTER BUILDINGS

NY home improvement plan
New York is spending $1 billion to help residents conserve energy — and lower their bills
By Angely Mercado, Grist
August 4, 2020

As summer heat waves converge with a surging pandemic and an impending economic collapse, energy-efficient homes are becoming particularly critical to Americans’ well-being. Millions now face tough choices when it comes to energy usage: The longer they stay home to stay safe from both scorching heat and COVID-19, the higher their utility bills climb.

New York’s state government, for its part, is eyeing a long-term solution to this conundrum. The New York State Energy Research and Development Authority is collaborating with the region’s investor-owned utilities to provide clean and energy-efficient solutions to more than 350,000 low-to-moderate income households throughout the state.

The collaboration aims to more than double the number of lower-income households that have access to services like voluntary electric load reduction, as well as better insulation and air sealing for more efficient cooling and heating, according to an announcement from Governor Andrew Cuomo’s office last week. The initiative will also provide education and community support programs to connect these upgrades to the households most in need.
» Read article

triple-decker design challenge
Getting rid of fossil fuels in buildings
Passive house building too cost effective to resist
By Joan Fitzgerald, CommonWealth Magazine – opinion
August 2, 2020

ATTORNEY GENERAL Maura Healey recently ruled that Brookline’s clean energy bylaw prohibiting installation of oil and gas lines in new and substantially renovated buildings violates state law. It’s true—state preemption law does not allow cities and towns to pass energy requirements stronger than the state’s code. But cities and towns still have substantial leverage. While we work on changing state law, we have other means to get rid of fossil fuels in buildings.

For example, the passive house building standard, promoted by the Commonwealth’s own three-year energy efficiency plan, released in October 2018, is one key element. The plan includes tax incentives and subsidies for developers for both market-rate and low-income housing. Even if energy codes are unchanged, this technology is becoming too cost-effective to resist.

A passive-house building is designed to keep heat in, using super-insulation, triple-pane windows, and similar measures. It consumes about 90 percent less energy for heating and 60 percent less energy overall than a typical building and usually does not require active heating and cooling systems. The buildings also use air exchangers that use the heat produced from lighting, cooking, and other sources to warm incoming cold air.

Dozens of European cities require the passive-house standard for some new construction—particularly in Germany, where it was developed. The passive-house standard is technologically and economically feasible for both new construction and retrofitting existing buildings, even in cold climates. By definition, passive house construction can be fossil-fuel free if it uses electric heating and appliances.

It’s been slow to catch on in the US, but Massachusetts is poised to become a leader—and gearing it to low-income housing. In 2017, the Massachusetts Clean Energy Center, the state economic development agency accelerating the growth of the clean energy sector, launched the Passive House Design Challenge to demonstrate that the standard can be employed at little extra cost. In 2019, the Clean Energy Center funded eight projects to the tune of $1.73 million that will build 540 units of affordable passive housing.

Joan Fitzgerald is a professor in the School of Public Policy & Urban Affairs at Northeastern University. Her latest book, Greenovation: Urban Leadership on Climate Change, was published by Oxford University Press in March.
» Read article

» More about better buildings      

CLEAN ENERGY

fundamentally flawed
Massachusetts set to pass landmark clean energy law to reach net-zero by 2050
By David Iaconangelo, E&E News, in Energy News Network
August 6, 2020

Massachusetts is expected to pass clean energy and climate legislation in the coming months that would require the state to reach net-zero greenhouse gas emissions by 2050, dividing conservative groups and environmentalists in atypical ways.

The state House and Senate, which are both controlled by Democrats, have yet to agree on final language. But both chambers have passed bills backing the net-zero goal, and Republican Gov. Charlie Baker has declared that his administration is planning to meet it.

If enacted, the law would place Massachusetts among a handful of states requiring a carbon-neutral economy by midcentury.

One environmental group, Environment Massachusetts, has set itself apart from most clean energy organizations in the state by opposing the net-zero bills.

Instead of simply mandating emissions reductions and allowing for energy officials to regulate the technologies involved, the state should create 100% mandates for renewable power, electric cars and other zero-carbon technologies, the group has argued.

“The underlying framework of this bill is fundamentally flawed,” said Ben Hellerstein, the group’s state director, adding that it could “leave Massachusetts dependent on dirty energy for decades to come.”
» Read article

clean peak passes
Massachussets policy to decarbonise grid at times of peak demand gets underway
By Andy Colthorpe, Energy Storage News
August 5, 2020

A “first-in-the-nation” policy called the Clean Peak Standard has been launched in Massachusetts, US, whereby a proportion of electricity used on the grid at times of highest demand must be considered ‘clean’.

Governor Charlie Baker and Lieutenant Governor Karyn Polito’s administration announced the launch yesterday of the Standard, with Baker calling it an “innovative approach to create a cleaner and more affordable energy future for residents and businesses across the Commonwealth, while serving as a national role model for making meaningful reductions in greenhouse gas emissions”. The plan was first introduced in 2018, as part of the administration’s Bill H4857, ‘An act to advance clean energy’.
» Read article

float a loan
Floating Offshore Wind on Cusp of Unlocking Big Source of Finance, Experts Say
Non-recourse finance is the largest source of funding for offshore wind, and lenders are becoming more comfortable with floating turbines.
By Jason Deign, GreenTech Media
August 3, 2020

A major source of finance for offshore wind projects may soon open up to the industry’s most important technological frontier: floating turbines.

Non-recourse finance, which allows lenders to be repaid from the profits of a project and have no claim over the assets of the borrower, will likely be available to upcoming floating wind projects as the market reaches an initial stage of maturity, experts say. That would help to lower the cost of projects. Non-recourse lending accounts for the majority of funding flowing to conventional European offshore wind projects today.

So far, no floating projects have secured pure non-recourse finance, “but the market is becoming ready for it,” said Clément Weber, a floating wind expert at renewable energy financial advisory firm Green Giraffe.
» Read article

» More about clean energy     

ENERGY STORAGE

Voltstorage SMART
‘World’s only’ home vanadium battery storage provider Voltstorage nets €6 million funding
By Andy Colthorpe, Energy Storage News
July 31, 2020

Germany company Voltstorage, claiming to be the only developer and maker of home solar energy storage systems using vanadium flow batteries, raised €6 million (US$7.1 million) in July.

Voltstorage claims that its recyclable and non-flammable battery systems, which also enable long cycle life of charging and discharging without degradation of components or electrolyte, can become a “highly demanded ecological alternative to the lithium technology”. Its battery system, called Voltstorage SMART, was launched in 2018 and comes with 1.5kW output and 6.2kWh capacity. At the time of its launch, company founder Jakob Bitner claimed that Voltstorage had been “the first to automate the production process of redox-flow battery cells,” enabling the production of “high-quality battery cells at favourable cost”. The company also claims that around 37% less CO2 is emitted in the production of its systems versus comparable lithium-ion storage.
» Read article

» More about energy storage     

CLEAN TRANSPORTATION

step away from the edge
Could Deep Sea Mining Fuel The Electric Vehicle Boom?
By MINING.com
August 3, 2020

The world is hungry for resources to power the green transition. As we increasingly look to solar, wind, geothermal and move towards decarbonization, consumption of minerals such as cobalt, lithium and copper, which underpin them, is set to grow markedly.

One study by the World Bank estimates that to meet this demand, cobalt production will need to grow by 450% from 2018 to 2050, in pursuit of keeping global average temperature rises below 2°C.

The mining of any material can give rise to complex environmental and social impacts. Cobalt, however, has attracted particular attention in recent years over concerns of unsafe working conditions and labour rights abuses associated with its production.

New battery technologies are under development with reduced or zero cobalt content, but it is not yet determined how fast and by how much these technologies and circular economy innovations can decrease overall cobalt demand.

Deep-sea mining has the potential to supply cobalt and other metals free from association with such social strife, and can reduce the raw material cost and carbon footprint of much-needed green technologies.

On the other hand, concerned scientists have highlighted our limited knowledge of the deep-sea and its ecosystems. The potential impact of mining on deep-sea biodiversity, deep-sea habitats and fisheries are still being studied, and some experts have questioned the idea that environmental impacts of mining in the deep-sea can be mitigated in the same way as those on land.

In the face of this uncertainty, the European Parliament, the prime ministers of Fiji, Vanuatu, Papua New Guinea and more than 80 organizations have called for a 10-year moratorium on deep-sea mining, until its potential impacts and their management methods are further investigated. [Emphasis added by blog editor.]
» Read article

sit in traffic
Environmental Advocates Call for Ban on SUV Ads
By Jordan Davidson, EcoWatch
August 3, 2020

To meet its climate targets, the UK should ban advertisements for gas-guzzling SUVs, according to a report from a British think tank that wants to make SUVs the new smoking, as the BBC reported.

The UK has set the ambitious target of net zero emissions by 2050, but that will be difficult to achieve if the public’s appetite for large, private cars does not subside.

The report, called Upselling Smoke, from New Weather Institute and climate charity Possible, says that SUV advertising should be compared to tobacco advertising, blaming the vehicles for creating a “more dangerous and toxic urban environment.”
» Read article             
» Read the New Weather Institute report

» More about clean transportation         

ELECTRIC UTILITIES

Ohio scandal explained
The Ohio Utility Scandal, Explained
By Amy Westervelt, Drilled News
August 5, 2020

Leah Stokes, author of Short Circuiting Policy and a political science professor at University of California at Santa Barbara, has been following utilities corruption for years. Back in 2013 Stokes started looking into what utility FirstEnergy was doing in Ohio, so when Ohio Speaker of the House Larry Householder was arrested last month in connection with a utility bribery scandal she knew exactly what had happened. Householder was the architect of a piece of state legislation in Ohio called HB six, which passed in July 2019. That bill essentially gutted Ohio’s renewable and energy efficiency laws and incentives and bailed out several coal and nuclear companies. It turns out it was a bill that was bought and paid for by FirstEnergy.

In this Q&A with the Drilled podcast, Stokes explains the whole sordid tale.
» Read transcript or listen to podcast 

» More about electric utilities        

FOSSIL FUEL INDUSTRY

Title XVII fraudEnergy Dept. Sued Over Hiding Details of Loan Guarantee for Appalachian Gas Liquids Project
DOE refuses to release documents that could shine light on how a massive petrochemical storage facility would be eligible for a nearly $2 billion loan guarantee under a clean energy program
By Food and Water Watch – press release
August 6, 2020

The national advocacy group Food & Water Watch filed suit against the Department of Energy (DOE) in the U.S. District Court for the District of Columbia today, charging the agency has refused to comply with a Freedom of Information Act request seeking documents related to a massive loan guarantee for a fossil fuel infrastructure project.

The controversial $1.9 billion loan guarantee was sought by the Appalachian Development Group to support its plan to build a massive ethane gas liquid ‘storage hub’ in Appalachia – a project meant to stabilize feedstock prices for future petrochemical and plastics manufacturing.

The loan guarantee was sought as part of the DOE’s Title XVII program, which requires that eligible projects must meet several criteria, including a provision that facilities must “avoid, reduce or sequester greenhouse gases.” A facility that would store ethane, a plastics feedstock derived from fracked gas, in order to utilize those gas liquids in petrochemical manufacturing would plainly not qualify on those grounds.
» Read press release             
» Read the complaint

oil due for a haircut
Exxon: 20 Percent Of Global Oil And Gas Reserves May Be Wiped Out
By Julianne Geiger, oilprice.com
August 5, 2020

After a grim Q2 season for Big Oil, the world’s third-most valuable energy company is warning that 20% of the world’s oil and gas reserves may no longer be viable, according to Bloomberg.

According to Exxon Mobil, one-fifth of the world’s oil and gas reserves will no longer qualify as “proved reserves” at the end of this year if oil prices fail to recover before then.

A flurry of oil and gas companies have written off billions in oil and gas assets as the value of those assets in the current oil price climate is no longer what it once used to be. Exxon was not among them.

Exxon is currently reviewing its oil and gas assets, the results of which should be available by November.
» Read article

BP greening-ish
BP Reports a Huge Loss and Vows to Increase Renewable Investment
The European oil giant has plans for a future with more electrical generation.
By Stanley Reed, New York Times
August 4, 2020

BP reported a $16.8 billion quarterly loss on Tuesday, and cut its dividend in half — the first reduction since the Deepwater Horizon disaster a decade ago.

But what caught the attention of analysts and, apparently, investors, was the ambitious plan that Bernard Looney, the chief executive, set out for making over the London-based oil giant into a diversified purveyor of cleaner energy within a decade. BP’s share price jumped by more than 7 percent during trading Tuesday.

On a webcast with analysts Mr. Looney described a transformation plan that Stuart Joyner, an analyst at the market research firm Redburn, said in a note to clients was “major, positive, thoughtful and largely unexpected.”
» Read article

end game for oil
We have entered the “end game” for oil — with “permanent demand destruction”
What the industry denied for years, that its assets have become liabilities, has become a reality.
By Andy Rowell, Oil Price International – blog post
Photo by Pete Markham
July 30, 2020

With many countries and regions trying to open up their economies after COVID-19 lockdowns, many in the oil industry had been hoping that as hundreds of millions of people resume as normal a life as possible, demand for oil would pick up to pre-COVID levels.

This is not going to happen. The “old normal” is not coming back. As we have been repeatedly saying for months, we are witnessing the end of the oil age. Even once great giants are now crumbling at their core.

Today, oil giant Shell, a titan of the industry, revealed a net loss of USD 18.3 billion for the second quarter of this year, down from a net profit of USD 3 billion over the same period last year. This means Shell business is down USD 20 billion from last year.

Meanwhile, another titan, French oil company Total, has announced a USD 8 billion write-down on the value of its assets, including USD 7 billion from dirty Canadian tar sands Canadian operations.

The company stated, “Total now considers oil reserves with high production costs that are to be produced more than 20 years in the future to be ‘stranded.’”
» Read article

» More about fossil fuels        

LIQUEFIED NATURAL GAS

LNG carriers
Global LNG terminal survey casts doubt on industry as ‘safe bet’
The failure rate for proposed LNG export terminal projects between 2014 and 2020 is 61 per cent, study says
By Carl Meyer, National Observer – in Terrace Standard
July 7, 2020

A new report is raising questions about the long-term viability of the liquefied natural gas export industry around the world as the Trudeau government continues to signal support for one such project in B.C.

The natural gas industry is facing multiple headwinds, from a collapse in demand due to COVID-19 disruptions, to competition from renewable energy sources, and protests against fossil fuel expansion such as those in support of Wet’suwet’en against the Coastal GasLink pipeline through B.C.

A global survey of LNG terminals released Monday by the San Francisco-based Global Energy Monitor research network outlines the central risk facing the hundreds of billions of dollars in sunk investments in LNG infrastructure: That some of these structures could become underused, or stranded, long before the end of their useful lives.

“LNG was once considered a safe bet for investors,” said research analyst Greig Aitken, one of the report’s five authors. “Suddenly, the industry is beset with problems.”

[The] survey suggests that the reputation of LNG as an “environmentally benign” fuel that is less dirty than coal has been debunked by scientific studies highlighting the serious impact of methane on global warming.

Methane, a greenhouse gas that is the main component of natural gas, is 86 times as powerful as carbon dioxide in trapping heat in the atmosphere over a 20-year period. Scientific studies have connected a rise in global methane levels with the fracking boom, and say this rise in atmospheric methane is undercutting efforts to hold the global temperature rise to 2C above pre-industrial levels.
» Read article

» More about LNG   

BIOMASS

not sustainable
The Dutch have decided: Burning biomass is not sustainable
The Netherlands should phase out the use of biomass for generating electricity as soon as possible, the advisory board of the Dutch government said in a report presented earlier this month.
By Davine Janssen’ EURACTIV.com
July 21, 2020

Biomass is an “indispensable” resource for the circular economy, but burning it is wasteful.

That is the main message of the report issued on 8 July by the Socio-Economic Council (SER), an independent advisory board of the Dutch government consisting of entrepreneurs, employees and independent experts.

In the chemical industry, the building sector and agriculture, biological materials are crucial for the transition to a circular economy, the council writes. But sustainably produced biomass is too scarce to keep using it for the production of heat or electricity, for which other low-carbon and renewable alternatives exist, the report states.

Accordingly, the billions worth of subsidies that were intended for biomass combustion plants should be phased out as well, the advisors say, calling however for measures to preserve “investment security” when designing a phase-out plan.
» Read article            

» More about biomass      

PLASTICS RECYCLING

not recycling
This ‘solution’ to the plastic crisis is really just another way to burn fossil fuels
By Joseph Winters, Grist
August 3, 2020

Amid an escalating plastic pollution crisis that threatens “near permanent contamination of the natural environment,” the fossil fuel and plastics industries say they have a not-so-surprising solution: recycling.

To be more precise, they’re advocating for “chemical” or “advanced” recycling. The American Chemistry Council, an industry lobbying group whose members include ExxonMobil, Dow, and DuPont, has promoted state-level legislation to expand it nationwide. Policymakers have taken note, and bills easing regulations on chemical recycling facilities have already been passed in eight states and introduced in at least five more.

But environmental activists say the word “recycling” is misleading. Rather than repurposing used plastic into new plastic products, most processes that the industry calls “chemical recycling” involve turning plastic into oil and gas to be burned. In a new report criticizing the practice, the Global Alliance for Incinerator Alternatives, GAIA, didn’t pull any punches, calling chemical recycling an “industry shell game” that keeps single-use plastics in production, contributes to climate change, and produces toxic chemicals that disproportionately harm marginalized communities.
» Read article           
» Read the GAIA report
» Read the no-burn.org legislative alert (includes legislation introduced in MA)

» More about plastics recycling   

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