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Triple Crunch Log                                                                                                            

Tim Yeo says that cutting UK feed-in tariffs would be like “cutting funding for Spitfires in 1939.” Yeo, a senior Conservative MP, is Chairman of the All Party Committee on the Environment.917

Civil society struggles to find voice at climate-summit prep talks in Tianjin. Guardian: “Civil society groups have played a prominent and positive role. They have informed, advocated and sometimes goaded participants in a way that will be entirely familiar to people in Europe. But however constructive, such organised alternative voices are a relatively new phenomenon in China and the organisers of the Tianjin conference - the first United Nations climate talks to be hosted in the country - have been uneasy about accommodating them.918

Prospects for COP 16 climate summit in Cancun are not looking good. Guardian: “One  of the major issues is still that of "burden-sharing". The least-developed countries, small island states and African countries, will need to feel confident that an agreement is going to help them. Wealthier nations are expected to take responsibility to help fund developing nations to advance green technologies and a sustainable infrastructure. Industrialised countries will also need to show leadership by reducing their emissions at home. Questions loom over the governance of funds. At Copenhagen, developed nations pledged to provide $30bn (£19bn) in financing by 2012 to help poorer nations solve the problems caused by climate change, with a total $100bn (£63bn) by 2020. Developing countries set to receive the aid will want to hear at Cancún that the money will be channelled through the UN, rather than the World Bank. There are also continuing concerns over enforcing the Copenhagen promise that climate aid will separate from existing international aid. … Indian environment minister, Jairam Ramesh, announced in September that the focus was already "post-Cancún" and de Boer has said he thinks a final agreement can be made at COP17, which will be held in South Africa in December 2011. However, any potential deal struck in South Africa would be unlikely to be a magic bullet for tackling climate change. (Christina) Figueres (UNFCCC Chair) believes a single, definitive and all-encompassing deal is unlikely to happen in her lifetime. Ultimately, governments may need to address divisions over the question of extending the Kyoto protocol if no new treaty is reached by its 2012 expiry. If a new treaty and an extension of Kyoto fail to materialise, it is quite possible there will be a period without any global commitment to cut emissions.”919

Renewables trend clouds Enel Green Power float. FT: “Europe’s three largest renewable energy generators have delivered mixed performances since they listed, with two of them trading at half their original valuations. As investor appetite for the sector wanes, the poor performance of the stocks is likely to heighten scrutiny of the upcoming float of Enel Green Power, the renewables business of Italy’s Enel. Shares in Iberdrola Renovables, which listed in December 2007, have fallen from €5.30 to €2.45 a share, while those of Portugal’s EDP Renováveis are down more than 60 per cent from their listing price of €8 a share in mid-2008. Shares in EDF Energies Nouvelles, the French wind power company, peaked at €45.85 a share in 2007 but are now hovering round the €31 level of their opening price when they floated in 2006.”920

Shell offers spill system in Alaska. FT: “Royal Dutch Shell is offering to spend “tens and tens of millions of dollars” building an oil spill containment system for Arctic conditions if the US government permits it to drill offshore Alaska. The bid is a last-ditch effort by Shell to advance a $3.5bn investment it has made to drill in Alaska.921

11.10.10. Loan terms create an obstacle for nuclear in the US. FT: “Constellation Energy’s decision that it cannot proceed with its $10bn Calvert Cliffs 3 project in Maryland under the loan guarantee terms offered by the government, appears to have dealt a fatal blow to one of the new plants that stood the best chance of going ahead.”922

French government gives EDF the right to increase tritium discharges from Flammanville. Another 20,000 billion becquerels of tritium per year can be emitted to air and sea by the two reactors. 923

Global warming and a race for resources could spark a new 'cold war' in the Arctic, US naval admiral warns. One of Nato's most senior commanders has warned that global warming and a race for resources could lead to conflict in the Arctic. The comments, by Admiral James G Stavridis, supreme allied commander for Europe, come as Nato countries convene on Wednesday for groundbreaking talks on environmental security in the Arctic Ocean. “The cascading interests and broad implications stemming from the effects of climate change should cause today's global leaders to take stock, and unify their efforts to ensure the Arctic remains a zone of co-operation – rather than proceed down the icy slope towards a zone of competition, or worse a zone of conflict”.”924

Constellation and EDF split means future for British nuclear is far from concern. FT: “For those paying attention, private companies had said from an early stage that new nuclear was possible without subsidies. …But EDF may be feeling a little different now, after its US partner, Constellation,pulled out of a project to build a new plant in Maryland. Constellation was financing the scheme using a loan guarantee from the government. But when it discovered the cost of that guarantee (11.6%), the company blanched. … the collapse of the EDF/Constellation project should provide a warning that no matter how much reassurance ministers receive from CEOs, the future of UK nuclear power is far from certain.”925

12.10.10. Failure to impose CCS levy on UK energy bills would be 'disastrous', MPs told. Guardian: “Giving evidence to the House of Commons energy and climate change committee, Prof Jon Gibbins, a CCS expert at the University of Edinburgh, said today: "We are not moving very fast [on CCS]. The biggest obstacle is uncertainty." If the levy was not used, he said: "I think that would send a disastrous message." Gibbins was supported by David Kennedy, chief executive of the government's independent advisers, the Committee on Climate Change (CCC), who also gave evidence. The £4bn for four CCS demos would be "money well-spent", he said, in terms of the cutting of carbon emissions and the economic and employment benefits of developing a CCS industry.”926

Google invests in $5bn wind-power undersea superhighway. The Atlantic Wind Connection Project will serve 1.9m homes from New Jersey to Virginia with electricity from dozens of offshore windfarms generating 6 GW along 350 miles of the Atlantic seaboard.927

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