Offshore oil and gas platforms use 16 terawatt-hours a year to power their operations. This is an opportunity for wind and solar. Today around 5 percent of global offshore oil and gas wellhead production is used as fuel to power offshore production platforms. However, using wellhead production to power operations reduces sales volumes and increases […]
Rise and Fall of Carbon Credits: Finding Solutions for Climate Crisis in Free Market
The plan to combine two seemingly opposing forces—a free market and the battle against human-induced climate change—was ambitious. But carbon credit trading, once seen as one of the most successful mechanisms to help developed countries and the private sector to continue with business while meeting their emission targets, is now on the brink of disappearing […]
IHS Markit Launches First Global Index for Carbon Credits
Global Carbon Index combines proprietary information and futures markets data to produce the first benchmark for the global price of carbon. LONDON : IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions, today announced that it has launched the IHS Markit Global Carbon Index, the first benchmark for the global price […]
U.S. Department of Energy Announces $110M for Carbon Capture, Utilization, and Storage
Washington, D.C.: The U.S. Department of Energy’s (DOE’s) Office of Fossil Energy (FE) has announced approximately $110 million in federal funding for cost-shared research and development (R&D) projects under three funding opportunity announcements (FOAs). Approximately $75M is for awards selected under two FOAs announced earlier this fiscal year; $35M is for a new FOA. These […]
A New Battery Could Be Key To Cutting Carbon Emissions, Slowing Climate Change
NPR’s Ari Shapiro talks with Yet-Ming Chiang, professor of materials science and engineering at MIT, about why new battery technology is key to cutting carbon emissions and slowing climate change. All month, we’ve been talking about how technology can help slow climate change. And today, that brings us to batteries – not the kind that […]
Bloomberg Commits $500M to Close All US Coal Plants by 2030, Halt New Natural Gas Plants
The billionaire philanthropist’s “Beyond Carbon” campaign lays out the radical goal of taking fossil fuels out of the energy mix, as part of a broader decarbonization effort. Michael Bloomberg unveiled a $500 million “Beyond Carbon” campaign on Friday, aimed at closing every U.S. coal-fired power plant by 2030 and halting the construction of any new […]
Carbon Capture Or Not, Coal Goes Under Energy Storage Bus
The battle between renewable energy and fossil fuel is already at a boiling point, but that’s nothing compared to the steaming hot mosh pit of internecine warfare going on between coal, natural gas, and nuclear energy. In the latest development on that score, US Energy Secretary Rick Perry went on a bomb-throwing mission at the […]
Wind To Surpass Hydro as No. 1 U.S. Renewable Power Source in 2019
Meanwhile, coal will keep losing. Wind power is on track to surpass hydropower as the U.S. grid’s largest source of renewable electricity in 2019, according to Energy Information Administration data. Hydro had a century-long head start, and plants like the 2,000megawatt Hoover Dam and 6,800-megawatt Grand Coulee Dam still outsize any other generating stations. However, […]