WASHINGTON (AP) — Fed up with U.S. dominance of the global financial system, five emerging market powers this week will launch their own versions of the World Bank and the International Monetary Fund.
Brazil, Russia, India, China and South Africa —the so-called BRICS countries — are "seeking "alternatives to the existing world order," said Harold Trinkunas, director of the Latin America Initiative at the Brookings Institution.
Indian power and fossil fuel companies are urging the nation's new government under Prime Minister Narenda Modi to use budget negotiations to push reforms in the industry to scale back subsidies and price controls, The Wall Street Journal reports.
HYDERABAD, India (AP) — A state-owned gas pipeline exploded and burst into flames Friday, killing at least 14 people, destroying homes and forcing the evacuation of neighboring villages in the southern Indian state of Andhra Pradesh, authorities said.
Flames rose more than 80 feet (25 meters) into the air, scorching the tops of coconut and palm trees and sending dense black clouds of smoke into the sky, witnesses said. Villagers ran out of their homes and crowded the streets. Scores of houses and shops were gutted, officials said.
Heat waves in India have left some 300 million people with little or no power, highlighting the obstacles the new government faces in updating the country's energy systems, The Wall Street Journal reports.
Indian Prime Minister Narendra Modi's goal to expand solar power in the nation may be derailed if the government moves ahead with his predecessor's plan for new duties on imported solar panels, Bloomberg reports.
Piyush Goyal, a chartered accountant and investment banker, has been appointed minister of state for power, coal and renewable energy and given independent powers by new Indian Prime Minister Narendra Modi, Bloomberg reports.
Trying to phase out old DOT-111 tank cars within two years, as proposed in new Department of Transportation regulations, could trigger a shortage and hurt oil and ethanol production, industry officials warned, Platts reports.
The Environmental Protection Agency, ahead of four public hearings set for next week on its proposed rule to limit carbon emissions from existing power plants, says it has already received 300,000 comments on the regulation, The Hill reports.
Texas and Oklahoma -- states that are home to some of the biggest critics of President Obama’s climate policy – would have the most to gain from his administration’s proposed carbon rule because of the boost it would provide the natural gas industry, according to a study being released Thursday by the Center for Strategic and International Studies and the Rhodium Group, The New York Times reports.
Canada’s Talisman Energy has confirmed that it’s in talks to sell some of its assets to Spain’s Repsol, which analysts speculate may include interests in Marcellus Shale and Eagle Ford Shale, The Wall Street Journal reports.
Sen. John Hoeven, R-N.D., says the latest measure he’s introduced to speed Energy Department consideration of LNG export permits –- which would require action within 45 days of a preliminary application being filed with the Federal Energy regulatory Commission -– is a good compromise on the issue, The Hill reports.
Carbon capture should begin at the Kemper County Energy Facility in the fall, and operations at the coal-fired plant are on track for a May start date, according to officials of Southern Co. subsidiary Mississippi Power, E&E reports.
The installation in Texas of a massive transmission system for wind energy, which can handle up to 18,000 megawatts, has encouraged development of clusters of wind farms in its competitive renewable energy zones, The New York Times reports.
Renewable energy advocates attending a public meeting Wednesday asked the Utah Public Service Commission to reject an application from Rocky Mountain Power to charge customers with solar panels an extra fee, the Deseret News reports.
Staff and former members of the Chemical Safety Board continue to paint a picture of an agency in turmoil even as Chairman Rafael Moure-Eraso maintains the CSB is getting its workload under control, National Journal reports.