Fortune: One-Third of Oil Companies Could Go Bankrupt This Year
About a third of the world’s publicly traded oil companies are at high risk of going bankrupt this year, according to a new report out Tuesday.
Consulting and audit firm Deloitte put out its findings after closely examining 500 publicly traded oil and natural gas exploration and production companies worldwide. The threat these companies face is a result of crude prices hovering near 10-year lows, which has already prompted firms to slash their budgets and staff.
PV Magazine: SolarCity’s Kauai Solar-Plus-Storage Project to Use Tesla Batteries
SolarCity has chosen the battery company for a landmark utility-scale solar plus storage project on the Hawaiian island of Kauai, and the supplier is hardly a surprise: Tesla Energy. Tesla will supply a 52-megawatt-hour (MWh) Powerpack lithium-ion battery storage system to accompany SolarCity’s 13 MW solar PV project.
The Powerpack is Tesla’s product for commercial and utility-scale installations, and uses a modular design adapted from the technology used in Tesla’s electric cars.
Climate Central: Study Ties U.S. to Spike in Global Methane Emissions
There was a huge global spike in one of the most potent greenhouse gases driving climate change over the last decade, and the U.S. may be the biggest culprit, according a new Harvard University study.
The United States alone could be responsible for between 30 percent and 60 percent of the global growth in human-caused atmospheric methane emissions since 2002 because of a 30 percent spike in methane emissions across the country, the study says.
Bloomberg: U.K.’s World-Beating Offshore Wind Could Get $8.4 Billion Bigger
The world’s biggest offshore wind-power market may be about to get even bigger as three companies decide whether they’ll commit 7.5 billion euros ($8.4 billion) to raise the U.K.’s installed offshore capacity by more than a third.
Mainstream Renewable Power Ltd, Scottish Power Ltd and an SSE Plc-led consortium have until the end of March to reach final investment decisions allowing them to tap into U.K. government subsidies letting them install more than 1.7 gigawatts of new capacity. Scottish Power’s East Anglia One will need 3.1 billion euros in investment, according to Bloomberg New Energy Finance, which also estimated that Mainstream’s Neart na Gaoithe and SSE’s Beatrice Offshore Wind Farm will cost 1.9 billion euros and 2.5 billion euros, respectively.
Reuters: U.S. Will Sign Paris Agreement and Stick to It, Says Stern
The United States will sign the Paris Agreement on climate change this year regardless of the Supreme Court’s decision to put a chunk of President Barack Obama’s environmental action on hold, the U.S. climate envoy said on Tuesday.
Todd Stern also said that Obama’s successor, even if it is a Republican, would be unlikely to scrap the Paris deal, as to do so would have negative diplomatic implications.
The U.S. Supreme Court this month put on hold regulations to curb carbon dioxide emissions mainly from coal-fired power plants, prompting speculation the United States and other nations could delay formal signature of the Paris Agreement, reached in December.
This article was originally featured on greentechmedia.com.