The Texas Supreme Court ruled Friday that BP can’t claim $750 million from Transocean’s insurance policies to help pay costs associated with the Macondo well blowout in the Gulf of Mexico five years ago, Bloomberg reports.
Ahead of Global Divestment Day, E&E takes a look at the state of the movement to pressure institutions to sell their stakes in fossil fuel companies, noting that it has had success in Scandinavia but a mixed reception from U.S. educational institutions.
The Environmental Protection Agency’s rule limiting power plant carbon emissions is expected to be the dominant topic of the winter meeting of the National Association of Regulatory Utility Commissioners next week, which will hear from EPA Administrator Gina McCarthy and the agency’s air pollution chief Janet McCabe, as well as the chair of the Federal Energy Regulatory Commission Cheryl LaFleur, E&E reports.
Marking his departure from the White House, senior adviser John Podesta made a spirited defense of Obama administration climate change policy and criticized Republican lawmakers in an opinion piece in Politico.
GENEVA (AP) — U.N. negotiators on Friday produced an early draft of what eventually should become a landmark climate deal in Paris next December, piling on suggestions to make sure the document reflected every country's wishes.
So instead of shrinking to a more manageable size, the 38-page text from a previous climate change meeting swelled to 86 pages during the weeklong negotiating session in Geneva.
TOKYO (AP) — Oil climbed and global stock markets were higher early Friday as Athens and its European creditors inched toward a deal on renegotiating Greece's bailout and fresh data showed an improvement in Germany's economy. Investors also reacted with optimism regarding an agreement on a cease-fire in Ukraine.
ENERGY: Benchmark U.S. crude was up 56 cents to $51.77 a barrel in electronic trading on the New York Mercantile Exchange. The contract soared $2.37 on Thursday after the CEO of Royal Dutch Shell said he expected crude demand to grow faster than supply this year. Brent crude was up 45 cents at $59.77 a barrel in London.
Oil companies should take part in the global debate on climate change, becoming a voice for “reason and practicality,” according to a speech from Royal Dutch Shell CEO Ben van Beurden, prepared for delivery in London Thursday, Bloomberg reports.
Fatih Birol of Turkey, who has been chief economist at the International Energy Agency for nine years, has the inside track to succeed Maria van der Hoeven as the group’s chief executive, The Financial Times reports.
WASHINGTON (AP) — The Obama administration is taking a wary, wait-and-see approach toward the new Ukraine peace agreement, which was reached without direct American input and as the U.S. considers whether to give defensive weapons to Ukraine and slap fresh sanctions on Russia.
Despite reservations about the agreement, U.S. officials say any action on lethal aid or new sanctions is on hold at least for the moment.
Three GOP presidential hopefuls - Sens. Rand Paul, R-Ky., Ted Cruz, R-Texas, and Marco Rubio, R-Fla. - are co-sponsoring a bill to block the Environmental Protection Agency's Waters of the United States rule, The Hill reports. Paul announced the bill Friday.
A report from the center-right think tank American Action Forum estimates that the Environmental Protection Agency's power plant carbon rules could eventually force more than 90 coal-fired plants to retire and cost the economy nearly 300,000 jobs, The Washington Times reports.