Drumbeat: July 6, 2010
Posted by Leanan on July 6, 2010 - 10:08am
While the Deepwater Horizon incident has introduced a new dimension of uncertainty to the offshore oil and gas sector, deepwater oil discoveries are increasingly important to the global and U.S. reserve base, according to research compiled by IHS CERA.
The volume of new oil reserves coming from deepwater has been on an upward trend since the 1990s, and has become particularly important in recent years. From 2006 to 2009, annual world deepwater discoveries in over 600 feet of water accounted for 42 percent to 54 percent of all discoveries onshore and offshore. In 2008 alone, deepwater discoveries added 13.7 billion BOE to global reserves.
The reserves of some countries, including Kuwait, the United Arab Emirates and Nigeria, have not changed for several years according to OPEC’s report — a trend that for some observers makes the figures questionable.
‘It’s clearly ridiculous, as if new discoveries would match production,’ said Colin Campbell, a retired petroleum geologist and exponent of the peak oil theory that supply has or will soon hit a high point from which it will fall.
‘They’re absolutely impossible numbers.’
Drivers are finding lower gas pump prices now that the July 4th weekend is over and prices are likely to keep sliding.
Canada should review regulations on all “unconventional” oil exploration, including oil sands and offshore projects, before allowing new work to proceed, New Democratic Party Leader Jack Layton said.
The review would be broader than the current one being conducted by the federal regulator, Layton told reporters in Ottawa today. Safety questions about drilling in remote regions using newer technologies must be answered after the spill at a BP Plc well in the Gulf of Mexico.
The tropical wave is some 1,100 miles from the oily disaster in the Gulf of Mexico. It could go anywhere from Florida to Mexico. It could wind up little more than rain and blustery wind.
Nonetheless, a broad system tracking west across the Caribbean Sea was an unsettling reminder that hurricane season remains a significant threat to BP's slow struggle to contain and seal its deep-sea gusher.
(Bloomberg) -- Fiscal damage to states caused by BP Plc’s leaking well in the Gulf of Mexico has been “manageable” so far, and current credit ratings will remain unchanged in the near-term, Standard & Poor’s said.
Tourism, fishing, shipping and energy industries are major contributors to Gulf Coast state economies and the most likely to be affected by the worst oil spill in U.S. history, S&P said today in a report.
Diamond Offshore reported that four operators have declared force majeure on drilling rigs under contract in the U.S. Gulf of Mexico.
Devon and Murphy Oil have declared force majeure on semisubmersibles Ocean Endeavor and Ocean Confidence, while Chevron and Arena have declared force majeure on jackups Ocean Columbia and Ocean Scepter respectively.
WASHINGTON – The Obama administration is proposing new rules to tighten restrictions on pollution from coal-burning power plants in the eastern half of the country, a key step to cut emissions that cause smog.
KUALA LUMPUR, Malaysia – Conservationists criticized a plan Monday to build a coal-fired power plant in an environmentally fragile state on Borneo island, but energy officials said the project will provide a much-needed electricity supply boost.
Energy projects have often generated protests in Malaysia's two states in Borneo, with activists alleging authorities and companies ignore the rights of indigenous tribal communities and cause environmental harm by cutting down swaths of jungle.
PORT HARCOURT, Nigeria (AP) -- Masked armed men guard Nigeria's elite in this volatile oil-rich region, but the country's middle class can only lock their doors and pray each time their children leave home.
Kidnappers who once targeted foreign oil workers are now abducting children - including one as young as 8 months old - for whatever ransom they can get.
Another leading U.S. politician has come out against TransCanada’s controversial Keystone XL pipeline.
In a letter released Tuesday, U.S. Congressman Henry Waxman calls Keystone XL “a multibillion-dollar investment to expand our reliance on the dirtiest source of transportation fuel currently available.”
(AP) An oil spill that was previously a problem for coastal Louisiana was trickling deeper inland Tuesday and toward the shores of New Orleans.
Oil sheen and tar balls from the Deepwater Horizon gusher have been spotted in Lake Pontchartrain, the huge lake forming the northern boundary of the city that was rescued in the 1990s from rampant pollution.
Our age, what we might call the age of economics, is in thrall to two types of relationships which reflect the lives we are encouraged to lead. There are consumer relationships, those that we participate in for the pleasure they bring us. And there are entrepreneurial relationships, those that we invest in hoping they will bring us some return. In a time in which the discourse of economics seeks to hold us in its grip, this should come as no surprise.
Francis Thicke, candidate for Iowa Secretary of Agriculture, will be discussing themes from his book, "A New Vision for Iowa Food and Agriculture" and how they relate to concerns of Iowans at 6:30 p.m. today in Dubuque.
Peak oil, climate-change and water-quality problems are just a few of the major challenges that Iowa agriculture is facing, he said.
Letting greenhouse gases build in the atmosphere is a bit like letting a tree grow roots beneath the foundation of your house. It may not be that bad this year, or next year, or even the year after that. But with each year that goes by, the problem becomes incrementally more severe, and harder to reverse. So even if Manzi is right that the costs are manageable into 2100 -- a century, after all, is a long time for a human, but not for the atmosphere -- what does that do to our descendants who have to deal with a scorching planet between 2100 and 2200? And then into 2300, and then 2400?
Opec's proven crude oil reserves rose 4% in 2009 to 1.06 trillion barrels led by an increase in Venezuela, the group said in its Annual Statistical Bulletin released today.
The cartel also said it saw the value of its petroleum sales abroad plummet to $575 billion in 2009 from the record $1 trillion in 2008 as recession hit energy demand and prices.
Opec's growth in oil reserves was mainly due to Venezuela, whose holdings climbed to 211 billion barrels from 172 billion in 2008, reported Reuters.
Back in 2000, the EIA developed their first power-point presentation covering the topic of peak oil (http://tonto.eia.doe.gov/FTPROOT/presentations/long_term_supply/index.ht...). A version of it was presented by EIA Administrator Jay Hakes to the American Association of Petroleum Geologists. The two images below are excerpted from that presentation.
What was the EIA’s rationale at the time? How has their view held up a decade later?
BEIJING (Reuters) - PetroChina started test runs at its new 200,000 barrel-per-day (bpd) Qinzhou refinery in southwestern Guangxi region last week and plans to enter commercial runs around the end of August, industry sources said.
Saudi Aramco, the world’s largest state-owned oil company, raised its August official selling prices for all crude grades to customers in Northwest Europe and increased Arab Extra Light prices to the U.S. and Asia.
China's coal imports surged 114.3 percent year on year to 68.98 million tonnes in the Jan.-May period on the back of strong industrial demand, the Ministry of Industry and Information Technology (MIIT) said Monday.
In a statement posted on its website, the MIIT attributed the increased demand to the power, steel, cement and chemical fertilizer industries.
LINDAU, Germany--What’s the best way to address a politically charged topic such as the future of energy? Remove the politics. “We’re going to skip over the politics,” Robert P. Laughlin, who won a Nobel Prize for physics in 1998, told a rapt audience of young scientists and others here at the 60th annual Nobel Laureate Lectures at Lindau. “I’m not interested in now but in the time of your children’s children’s children, six generations into the future and 200 years from now,” when all carbon burning has stopped because it’s been banned or none is left, he said. “Thinking about a problem this way is so simple. Instead of arguing about what to do now, I want to talk about what will happen when there’s no coal."
Oil giant BP has not renewed a contract to supply Iranian airlines with fuel, the Financial Times Deutschland reported in its Tuesday edition.
The report, in the German-language edition of the financial daily, could explain a statement by an Iranian official Monday that Britain, Germany and the United Arab Emirates had started to refuse to refuel its passenger planes.
The contract had expired at the end of June, the FT Deutschland reported, and its ending was already having an effect.
(Reuters) - Uganda on Tuesday gave its conditional approval for the sale of Heritage Oil's assets in Uganda to another British explorer, Tullow Oil, Energy Minister Hilary Onek said.
BAKU, Azerbaijan (AP) — BP's embattled chief executive on Tuesday visited oil-rich Azerbaijan in a bid to assuage fears that his company may sell assets in the country to help pay for the clean-up of the Gulf of Mexico oil spill.
The one-day visit comes a week after Tony Hayward, who has been criticized for his handling of the devastating oil spill, traveled to Moscow to reassure Russia that the British energy company is committed to investments there.
CIUDAD DEL CARMEN, Mexico -- Late one weekday morning not long before he turned 71, Roman Zapata Ojeda took the keys of several people much younger than him and parked their cars outside a restaurant overlooking the Bay of Campeche.
Some said, "Muchas gracias," and tipped him a few pesos for watching over their vehicles. Others drove off without a word of thanks.
"I did not always do this," Zapata assured, nodding his head and squinting from under a red baseball cap. "I used to be very successful, very well-known."
Zapata put four children through college with what he earned in more than 40 years building and repairing shrimp boats in Ciudad del Carmen. But his career was one of thousands that ended during the years after the massive Ixtoc I oil spill in June 1979, just 60 miles northwest of the island city he has always called home.
A new narrative reverberating in right-wing political circles blames the Deepwater Horizon disaster on a favorite scapegoat: the federal government.
(Reuters) - The Gulf of Mexico oil spill has highlighted the risks of offshore oil production and the potential costs involved in drilling deep below the ocean.BP Plc, seeking cash to meet the costs of the worst U.S. spill, is considering selling fields in Colombia, Venezuela and Vietnam, a person with knowledge of the matter said.Lupatech SA, Brazil’s biggest oil equipment and service provider, sees “growing demand” from Petroleo Brasileiro SA for its services as the state-controlled producer boosts spending to double output in a decade, said Chief Financial Officer Thiago Alonso de Oliveira.
“We are facing a moment when the things we supply are in a period of growing demand,” Oliveira said today in a telephone interview from Sao Paulo. “It’s a period when several discoveries are in the beginning development phase.”A shortage in 80-octane gasoline and diesel caused overcrowding yesterday at several gas stations throughout Egypt.
In Alexandria lines of cars waiting to fill up their gas tanks extended for almost one kilometer, clogging side streets.Lima (Platts) Consumers of LPG in the Peruvian capital of Lima -- home to eight million people -- struggled to find the fuel at service stations across the city as authorities said the shortage since the weekend, and which appeared nearly total Monday, was temporary as it was just due to rough seas.
LPG is the second most consumed fuel in Peru -- used for cooking and for cars.With China set to overtake the US in energy consumption within four years’ time and India and China likely to consume a little less than a third of our global energy within the next two decades, anyone thinking that the Gulf of Mexico tragedy will wipe oil exploration off the map will be naïve at best and gullible at worst.
On the other hand my biggest concern is that in spite of the environmental rape that took place in that area, I very much suspect that once time will have taken its toll, our memory lapses will start prevailing again, and sins of omission and commission in the environmental sector will continue to take place, recur and repeat themselves. Possibly at a bigger financial and environmental cost for us all.Warning: This article is blasphemous. How can a former professor of history and psychology write an article with this title? Is the author simply a disgruntled doomer who has become hopelessly cynical?Soaring world oil prices strike hard on everyday life in countries of Sub-Saharan Africa and further hamper the well-needed economic growth that could be a way out of poverty and underdevelopment. Nowhere else in the world does oil have a more dominant role as a commercial energy form. In order to promote economic growth, oil seems to be the most useful means for energy supply as of today.Mark Parisi, who spent his boyhood on a Connecticut farm, thought it made perfect sense to put two pigs in his suburban Takoma Park back yard and raise them to become pork chops. But not everyone in the neighborhood was thrilled to see the porkers rolling around in the dirt. Soon, someone squealed, and the authorities came calling.
But when they arrived, time and again, they found nothing amiss on Parisi's small plot of land. It turns out that pigs, chickens, goats and the occasional rooster are perfectly legal in Montgomery County and many other Washington suburbs. That puts the BlackBerry-obsessed region, partly by accident, partly by design, on the leading edge of a national "grow your own" movement that has evolved well beyond organic vegetables.On this Independence Day, I'm celebrating the ways my family's lifestyle is becoming more independent from the mainstream. This means our lifestyle is becoming more independent from oil for long-distance transport of goods, more independent from carbon emissions, more independent from the Industrial Growth Paradigm, demanding less earth resources, and thus much more resilient.Right now the left brain really isn’t doing the trick. We’ve known about climate change for 20 years—known that it’s the greatest threat humans have ever had to deal with. And so far we’ve done…nothing. Oh, some little stuff here and there, but nothing on a scale big enough to matter. Environmentalists have believed that the scientific facts— unimpeachable, and unbearable—would be enough to force action. They’ve believed fervently in statistic, in bar graphs, in pie charts, in white papers, in executive summaries, in closed-door briefings. It’s all noble, but it’s meant that we never managed to build a movement around global warming. You don’t build movements with bar graphs.This past week at the Transition Network Conference 2010 in the UK, the speaker Stoneleigh rocked everyone's paradigm with her talk "Making Sense of the Financial Crisis in the Era of Peak Oil."The End is Near, Inc.
This is the title of the recent full-spread article in Boston Magazine about me, my work and our community. It’s due out in hard print on Sunday with the Boston Globe. It is already available on-line here.
Unfortunately, the article relies too much on sensationalistic stereotypes and includes some troubling distortions. My chief concern is that the story told through a very few limited, out of context and edited quotes paints a picture of Becca and me as doomsayers with a bunker mentality. Nothing could be further from the truth.Michael Grätzel is a man with a mission. As the inventor of a low-cost solar cell, he wants to help the world avoid an energy crisis by harnessing the power of the Sun. His translucent Grätzel cells use a combination of titanium dioxide and organic dyes to convert sunlight into electricity, providing a cheaper and more environmentally friendly source of energy than silicon solar cells.ISLAMABAD -- Despite the severe energy crisis tormenting the country and rising power tariffs, the Ministry of Water and Power is reported to have blocked $800 million foreign investment for a cheap hydelpower generation project on procedural and technical grounds.NEW YORK, NY — As the heat wave continues to pound New York City, stores are blasting their air conditioners as a way to lure in overheated customers. Councilwoman Gail Brewer of the Upper West Side says her office hopes to conduct surveys during this week's heat wave to see if stores are complying with the city law requiring large stores to shut their doors if they have the air conditioner running.TEHRAN (AFP) – Iran is to halt the sale of subsidised petrol from late September as part of plans to phase out subsidies on energy products, ISNA news agency reported on Monday.
"Based on decisions taken, from the second half of this (Iranian) year (late September), the rationed petrol sales will be stopped," said Mohammad Royanian, head of Iran's fuel transportation organisation, quoted by ISNA.
From September "the rationing of petrol will be scrapped," he added.Oil rose for the first time in six days as the dollar weakened and advancing equities reaffirmed confidence the global recovery will stimulate fuel demand.
Crude reversed earlier losses of as much as 1.5 percent as European equity indexes climbed the most in a month. The industry-funded American Petroleum Institute will release its weekly report on fuel supply and demand levels tomorrow, a day later than normal because of yesterday’s Independence Day holiday in the U.S.(Reuters) - State-owned China National Petroleum Corporation (CNPC) aims to produce 500 million cubic metres (mcm) of shale gas by 2015, a company executive said in an article published on Sunday.
China does not have any shale gas production and evaluation of the potential resources is only at a preliminary stage, Deputy General Manager Liao Yongyuan said.Life was back on track across India on Tuesday after a day-long crippling strike called by the opposition against rising food and fuel prices cost the economy millions of dollars.
Shops, businesses and industries reopened, the usual traffic returned to roads and highways, while educational institutions and offices saw normal attendance in all parts of the country.Exxon Mobil Corp.’s Japanese unit and Petroleo Brasileiro SA may have to spend billions of dollars upgrading plants or else shut units because of new rules aimed at boosting heavy-oil refining, analysts said.Nigeria and China have signed an agreement to build the West African nation’s biggest oil refinery at a cost of $8 billion, ThisDay reported, without saying where it got the information.About 200 contractors at Total SA’s Lindsey oil refinery in northeast England returned to work today as one unit at the site remained closed after a fatal explosion led to asbestos contamination.Bulgaria “is no longer interested” in a project to build an oil pipeline from the Black Sea to the Aegean following the environmental damage caused by the oil spill in the Gulf of Mexico, according to Boyko Borissov, prime minister.
Mr Borissov made clear in an interview with the Financial Times that Bulgaria intended to pull out of a three-way partnership with Russia and Greece after an environmental impact study for the project is completed early next year.BEIJING - A searing heat wave that has scorched many parts of China has brought the country's daily electricity generation to its highest level ever, touching 12.93 billion kilowatt-hours on Monday, according to data from the National Power Dispatch and Communication Center.US officials reacted with dismay and puzzlement today to the eight-year prison sentence imposed on an US geologist because he bought a database on China’s oil industry.China on Tuesday rejected U.S. criticism of its treatment of an American geologist who was sentenced to eight years in prison for spying and collecting state secrets.
The U.S. Embassy issued a statement calling for Xue Feng's immediate release and deportation to the United States after he was sentenced Monday, and U.S. Ambassador to China Jon Huntsman attended the court hearing to show Washington's interest.NEW ORLEANS, Louisiana (AFP) – BP faced a broadening crisis Tuesday with tar balls from the Gulf oil spill turning up on Texas beaches, as the firm's clean-up costs soared and British officials reportedly mulled a possible BP collapse.
A giant Taiwanese ship deployed to boost the clean-up meanwhile remained in testing, with initial results inconclusive because of choppy waters, and bad weather on the horizon threatened to further disrupt clean-up efforts.BP Plc is likely to intercept its Gulf of Mexico gusher this month, ahead of schedule, kicking off a “kill” process that may take as little as two days or drag out because of complications caused by the well’s depth.New Orleans, Louisiana (CNN) -- A massive, silver-colored blimp is expected to arrive in the Gulf Coast Tuesday to aid in oil disaster response efforts.
The U.S. Navy airship will be used to detect oil, direct skimming ships and look for wildlife that may be threatened by oil, the Coast Guard said Monday.A week of high winds and waves has interfered with some efforts to contain and clean up the BP oil spill. But key activities have continued with little interruption from bad weather.NEW ORLEANS – Less than three years before the Gulf oil spill erupted, federal regulators concluded several offshore drilling projects posed a low risk to endangered wildlife — a determination that contrasts sharply with recent scenes of birds struggling to survive the slick.WASHINGTON (AFP) – Despite its role in the Gulf of Mexico oil spill, energy giant BP remains a key supplier of fuel to the Pentagon, The Washington Post reported.
Citing data from the Defense Logistics Agency, the newspaper said BP had contracts with the US Defense Department worth at least 980 million dollars in the current fiscal year.BP has approached sovereign wealth funds with a view to securing a strategic investor to fend off takeover bids while the British oil company deals with its massive U.S. oil spill, according to press reports.
Reuters, citing a senior United Arab Emirates source, reported Tuesday that BP executives have held talks with a number of sovereign wealth funds including Abu Dhabi, Kuwait, Qatar and Singapore.
BP is seeking a strategic partner so it doesn’t get taken over by other major oil companies such as Exxon and Total, the source said. “It’s BP that is approaching the sovereign wealth funds not the other way round. They are the ones in need of a partner,” the UAE source told Reuters.LONDON (Reuters) – Stock in BP rose on Tuesday as the British oil major ruled out a share issue and talk persisted of sovereign wealth fund interest, while its Gulf of Mexico oil slick spread to the Texas coast.
BP shares were up 3.7 percent after hitting their highest in two weeks. They at one stage had lost more than $100 billion in value in the 78 days following its April 20 oil rig explosion that unleashed the massive spill.LONDON (AFP) – Britain is working on crisis action in case energy giant BP is ruined by the costs of coping with its oil spill in the Gulf of Mexico, The Times reported on Tuesday without citing its sources.
The talks, with officials from the government's Department for Business and the Treasury, show mounting concern that the company could collapse, the report said.BP's share price - which had more than halved since the Deepwater Horizon oil rig explosion in April first triggered the company's woes - has staged an impressive recovery in recent weeks.
Yet talk continues to circulate of a possible strategic investor in BP - either as a welcome provider of fresh capital to the company, or an unwelcome opportunist sniffing a bargain.
So what are the options now for BP?FORTUNE -- From the glamorous to the bizarre to the outright catastrophic, Lloyd's of London has insured against some of the world's most unusual risks: There was the finger that Rolling Stones guitarist Keith Richards injured during a concert tour in the 1990s. Lloyd's once insured actress Bette Davis' waistline against expansion. It also insured Ugly Betty star's America Ferrara's $10 million smile for Aquafresh White Trays.
But Lloyd's latest high-profile risk has little to do with celebrities and everything to do with the worst oil spill in U.S. history. It is one of the biggest insurers of offshore energy contractors along the Gulf of Mexico, including Transocean (RIG)'s Deepwater Horizon rig that exploded while it was under contract for BP.An Alabama bed-and-breakfast that was restored after hurricane damage is struggling now.BP Offshore Oil Strike was released in the early 1970s and allows up to four players to explore for oil, build platforms and construct pipelines. The first player to earn $120,000,000 wins.
Its "hazard cards" include "Blow-out! Rig damaged. Oil slick clean-up costs. Pay $1 million."Lawmakers in Washington are fixed on the legal and financial fallout of the oil spill in the Gulf of Mexico on BP and firms like Transocean, the operator of the Deepwater Horizon rig that sank in April.
But a flurry of legislation in Congress could also have sweeping consequences, both intended and unintended, for other industries that work at sea.Depending on who you choose to believe, the Kingdom of Saudi Arabia is either running out of oil or is sitting on deposits far larger than 262 billion barrels. The Saudis have never allowed independent verification of the Kingdom’s reserves.
Some, such as Matthew Simmons, believe that the original-oil-in-place has been depleted and that the Saudis have not told the truth about the size of the country’s remaining reserves. The difficulty that the state oil company, Saudi Aramco, has had with some of its recent exploration activities gives some credence to this view.RIYADH (AFP) – The Saudi cabinet agreed on Monday to sign a nuclear cooperation accord with France, which could open the way for French help in developing nuclear power in the oil-rich kingdom.
The agreement is "for the development of peaceful uses of nuclear energy," the cabinet announced after its weekly meeting in a statement carried by the official SPA news agency.PARIS (AFP) – An industrial consortium launched preparations on Monday for a possible future power grid under the Mediterranean that would carry solar energy from Africa to Europe.
The Transgreen group hopes that solar power farms planned in the Sahara desert will generate 20 gigawatts of electricity by 2020, and that a quarter of this could be fed into the European market.Two weeks ago, the EU energy commissioner Gunther Oettinger met North African officials in Algiers to discuss integrating electricity markets. Mr Oettinger told Reuters electricity could start flowing to Europe within five years.
But analysts say mustering governments and investors on both sides of the Mediterranean into large-scale co-operation presents a significant challenge for Desertec’s supporters.The federal government has just finished construction on a zero-energy office building, the nation’s largest, and is hoping that commercial developers will follow its lead. The 222,000-square-foot Research Support Facility is on the Department of Energy’s National Renewable Energy Laboratory campus in Golden, Colo. Just over 800 employees will occupy the building once it officially opens in late August.RABAT // Last Monday near Tangiers, Morocco’s King Mohammed VI inaugurated 165 wind turbines the government is touting as Africa’s largest wind farm, the state news agency says.
The installation is Morocco’s latest advance in a drive for renewable energies that is winning it recognition as a regional leader in the field.The government's Cash for Appliances program, which lets you score rebates for about $50 to $500 swapping energy guzzling appliances for more efficient models, has gotten lots of attention.
But don't count your greenbacks just yet. The incentives, which are administered through the states, are typically doled out on a first-come, first-served basis, and in many locales the money is already gone.Concern over the current economic meltdown has eclipsed talk of peak oil, but the fact remains that the era of endless supplies of cheap energy, on which globalism absolutely depends, is drawing to a close.(Reuters) - La Nina is likely to cool the tropical Pacific in coming months, a phenomenon which usually causes stronger monsoons across Asia and eastern Australia, the World Meteorological Organization (WMO) said on Tuesday.
The weather condition also promotes the development of storms including hurricanes in the tropical Atlantic, it said.(CNN) -- One of the world's largest pulp and paper companies is destroying Indonesia's rainforests and taking away the habitat of rare animals, environmental group Greenpeace charged Tuesday.
The Greenpeace report accuses Asia Pulp and Paper of "relentlessly trashing rainforests, driving species extinction and, if left unchecked, will threaten Indonesia's efforts to address climate change."Why bother? It's a question many are asking since BP's debacle in the Gulf of Mexico. Is it worth the daily sacrifices we make — separating paper from plastic, standing ready with reusable totes, supplying kids with recycled crayons and paper — when our minuscule efforts can be washed away by one sloppily unsecured oil well? Perhaps it depends on what's really behind our drive to go green.
At least some of our motivation rests on the mistaken belief that the earth's survival depends solely on us. Do-it-yourself has long been America's default mantra. Fend for yourself and your loved ones or suffer the consequences of an empty retirement account, an ailment caught too late, or test scores too low to get your offspring into a reputable college. But can we do it ourselves when it comes to the environment?China will host UN climate change talks in October, said Foreign Ministry spokesman Qin Gang here Tuesday.
The 12th session of the Ad Hoc Working Group on Long-term Cooperative Action under the Convention (AWG-LCA) and the 14th session of the Ad Hoc Working Group on Further Commitments for Annex I Parties under the Kyoto Protocol (AWG-KP) will be held in the northern Chinese city of Tianjin, Qin told a regular news briefing.Throughout their history, insurance companies have done more than collect premiums and pay claims. They've made the world a safer place - by promoting fire prevention, lobbying for building codes, testing the crash-worthiness of cars and rating vehicles for safety.
Now some insurers are worried by the threat to their business posed by climate change. And they are starting to see what, if anything, they can do about it.(CBS/AP) A leading Dutch environmental agency, taking the blame for one of the glaring errors that undermined the credibility of a seminal U.N. report on climate change, said it has discovered more small mistakes and urged the panel to be more careful.
But the review released Monday by the Netherlands Environmental Assessment Agency claimed that none of the errors affected the fundamental conclusion by U.N. panel of scientists: that global warming caused by humans already is happening and is threatening the lives and well-being of millions of people.