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Triple Crunch Log                                                                                                            

jobs in green industries, including nuclear power and home insulation, will turbo-charge the economy and help offset budget cuts, the energy secretary, Chris Huhne, claimed today. … Huhne was unable to give any news on whether there will be public funds for the proposed green investment bank or whether the Treasury will provide any start-up funds for up to four pioneering carbon capture and storage plants. … In his set piece conference speech, Huhne pledged that by the end of the parliament Britain would boast the fastest growing renewable industry in the EU. He also promised that he would require energy firms to tell consumers before they raise prices. … He said, "I am fed up with the stand-off between renewables and nuclear which means we have neither – we will have both. We will have low-carbon energy and security of supply".866

UK energy suppliers charged inflated prices in gas boiler scrappage scheme. Guardian: “Energy suppliers charged inflated installation prices to consumers during a government scheme to help householders replace old boilers with new ones, figures revealed today. The figures, which were released following a Guardian freedom of information request and were collected to chart the takeup of the taxpayer-funded boiler scrappage scheme, show that on average the cost charged by the big energy suppliers were a third higher than those by independent traders – and in some regions up to 60% more.867

22.9.10. UK business secretary plans to shine a “harsh light into the murky world of corporate behaviour.” Guardian: “Vince Cable will today launch an aggressive attack on capitalism with a speech that warns that the current system "takes no prisoners and kills competition where it can". "Let me be quite clear," he will tell the Liberal Democrat conferencein Liverpool. "The government's agenda is not one of laissez-faire. Markets are often irrational or rigged. … “Why should good companies be destroyed by short-term investors looking for a speculative killing, while their accomplices in the City make fat fees? Why do directors forget their wider duties when a fat cheque is waved before them? Capitalism takes no prisoners and kills competition where it can.” … Richard Lambert, director general of the CBI, said: "It's odd that he thinks it sensible to use such emotional language … Mr Cable has harsh things to say about the capitalist system: it will be interesting to hear his ideas for an alternative." … Lord Jones, former trade minister under Gordon Brown and ex-head of the CBI, told the programme this morning: … "Of course you get businesses that are not stepping up to the plate of good quality corporate governance; you get journalists who don't do that, you get trade unionists that don't do that. May I say, Mr Cable, you get politicians that don't do that. We are just a reflection of society."868

Ofgem to investigate claims that grid charges penalise Scottish renewables. Guardian: “Ofgem is to investigate complaints that green energy projects in Scotland and at sea are being unfairly penalised by its system for charging power companies to send electricity across the grid. The charges are seen as a significant barrier to the development of renewable energy projects. The energy regulator said today it would review the way it charges power companies different amounts based on how far the power station or windfarm is from London.”869

23.9.10. UK opens world's biggest offshore windfarm, and now has more offshore wind than ROW together. Guardian: “The official opening of the Thanet windfarm off the coast of Kent – the biggest offshore project in the world – means that Britain generates more power from offshore wind than the rest of the world put together. … The eight lines of turbines, running north-west to south-east, cover a total area of 35sq km off Foreness Point near Margate. With 100 turbines, each 115 metres high with 44-metre blades, it can generate 300 megawatts (MW) of power – enough for 200,000 homes. The project also takes the UK past a small but important milestone (although one Germany passed more than a decade ago) of having generated 5,000MW (5 gigawatts) from all renewable energy. The UK is still woefully short of its target of generating 15% of energy from renewables by 2020. Thanet will not keep the "world's biggest" accolade for long though. Guests were already speculating about the next major offshore launch they might be invited to. Just up the coast is the Greater Gabbard offshore project with its 140 turbines, which will be followed by the even bigger London Array scheme in the Thames Estuary. When completed, this could generate 1000MW. … there were calls for greater government support for the industry after it emerged that only 20% of the nearly £900m investment had gone to UK firms. …. Renewables UK said another 2.5GW of wind power was being constructed and a further 6,000MW of turbines had planning consent.870

Oil industry winning fight to soften international scrutiny of offshore drilling. An attempt by Germany to introduce independent reviewing of 15 countries' drilling practices appears to be quashed by the British government. Guardian: Richard Benyon, a minister at Defra dispatched to Bergen, Norway, for a meeting of signatories to the Convention of the Marine Environment of the North-East Atlantic, appears to have won the support of other oil producers such as Denmark and Holland.871

24.9.10. IHS report on tar sands implies it is not a high carbon fuel. But…. Sheila McNulty in the FT: “The headline reads, “Oil Sands Greehouse Gas Emissions are Lower than Commonly Perceived.” But a backlash by environmentalists, including the Natural Resources Defense Council, made me take a closer look at what was being said. And even CERA is not saying that oil from oil sands is less carbon intensive than traditional crude. …. But it does not change the carbon intensity of producing crude oil from oil sands. That is like saying marijuana or transfats (pick your poison here) are not as bad for you as some might think if you mix them with water (or anything else) and dilute them. … The Obama Administration should think long and hard about whether the country needs a third pipeline to bring this fuel into the US. There already are two. This week, a delegation of Canadian and American indigenous First Nations communities met with government officials to discuss the issues around the fuel that is to be imported from Canada all the way down into Texas.872

KNOC clinches Dana Petroleum takeover. FT: “Korea National Oil Corp acquired a majority stake in Dana Petroleum on Friday as it announced its hostile £18 a share all-cash bid was now wholly unconditional, in effect ending Dana’s hopes of fighting it off.”873

27.9.10. Shetland deepwater wells likely to be approved in face of Greenpeace action. Guardian: “The government is shortly expected to give permission for new deepwater drilling off the Shetland Islands in a controversial move that could trigger a legal confrontation with Greenpeace. The environmental group fears the Department of Energy and Climate Change (Decc) could make a decision as early as tomorrow for the first wells of this kind off Britain since BP ran into trouble in the Gulf of Mexico. US company Chevron will be first in line for permission to explore two prospects, with BP following, but Decc officials insisted last night that a decision had yet to be taken. Greenpeace yesterday started a new campaign of direct action using swimmers against a

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