[Top News] from [REUTERS]
[Green Business]
WASHINGTON
Wed Dec 23, 2009 7:52am EST
U.S. cracks down on lung-harming ship emissions
WASHINGTON (Reuters) - U.S. environmental regulators on Tuesday finalized engine and fuel standards for U.S. flagged ships to cut emissions that cause lung diseases and save more than $100 billion in health costs.
By 2030 the strategy should cut annual emissions of nitrogen oxides (NOX) from large oil tankers, cargo ships and cruise vessels by about 1.2 million tons and particulate matter emissions, or soot, by about 143,000 tons, the Environmental Protection Agency said.
When fully implemented, the effort will reduce NOX emissions from ships by 80 percent, and particulate emissions by 85 percent, compared to current emissions.
The EPA estimates that in 2030, the standards will prevent between 12,000 and 31,000 premature deaths and 1.4 million work days lost.
Annual health benefits in 2030 should be worth between $110 billion and $270 billion, compared to compliance costs of only about $3.1 billion, the EPA said.
"Stronger standards will help make large ships cleaner and more efficient, and protect millions of Americans from harmful diesel emissions," EPA Administrator Lisa Jackson said in a release.
An environmentalist agreed. "Frankly, it is hard to find a better deal in the public health world," Rich Kassel, the director of clean fuels and vehicles at the Natural Resources Defense Council said in a blog on Tuesday.
The EPA is also working with international organizations to control emissions from non-U.S. flagged ships.
The International Maritime Organization, a United Nations agency, is set to vote in March next year on the adoption of the joint U.S.-Canada buffer zone, which would result in stringent standards for large foreign-flagged and domestic ships operating within the designated area.
(Reporting by Timothy Gardner; Editing by David Gregorio)
[Green Business]
PHILADELPHIA
Wed Dec 23, 2009 8:57am EST
Q+A: Environmental fears over U.S. shale gas drilling
PHILADELPHIA (Reuters) - The boom in shale natural gas drilling has raised hopes the United States will be able to rely on the cleaner-burning fuel to meet future energy needs. But concerns about its impact on water quality could slow the industry's ability to tap this bountiful resource.
New York City urged a ban on natural gas drilling in its watersheds on Wednesday.
Some questions and answers:
WHY ARE ENVIRONMENTALISTS CONCERNED ABOUT SHALE GAS DRILLING?
Critics of the U.S. boom in shale gas drilling say the practice contaminates the aquifers where many rural residents get their domestic water supplies; pollutes the air around gas rigs and compressor stations, and scars the landscape with drilling pads and new roads.
The natural gas industry says the drilling technique known as hydraulic fracturing, or "fracking," is entirely safe, citing research that has yet to prove any link between fracking and water contamination that could cause illness.
WHAT'S THE PROBLEM WITH WATER SUPPLIES?
Fracking chemicals are escaping into groundwater, critics say, and in several states there have been reports of fouled water and increased illness since drilling began. In addition, naturally occurring toxic substances such as arsenic are released from underground by fracturing and have been found at elevated levels near some drilling operations.
There are more than 200 "introduced" chemicals used in fracturing but details of how they are used are not published by energy companies. They are not required to disclose it because of an exemption to a federal clean water law granted to the oil and gas industry in 2005. That exemption has made it hard for critics to prove their case.
Drilling chemicals may cause many illnesses including cancer, fertility problems and neurological disorders, critics say.
HAS ANYONE ACTUALLY FOUND TOXIC CHEMICALS IN WATER WELLS NEAR GAS DRILLING?
Yes. The U.S. Environmental Protection Agency found 14 "contaminants of concern" in 11 private wells in the central Wyoming farming community of Pavillion, an area with about 250 gas wells. The August report did not identify the source of the contamination but is conducting more tests and is expected to reach a conclusion by spring 2010. In Pennsylvania, at least two privately conducted water tests near gas drilling have also found chemical contamination. One set of tests is being used in a lawsuit by a landowner against the gas company.
HOW DOES THE INDUSTRY RESPOND TO THESE CLAIMS?
Companies argue that the fracturing chemicals are heavily diluted, and are injected through layers of steel and concrete into the shale a mile or more underground and thousands of feet below aquifers, so they cannot mingle with drinking water. Industry officials say there has never been a documented case of water contamination from gas drilling. Some fracturing chemicals are also used in household products, which may explain their presence in water tests, energy companies say.
WHAT'S THE EXPERIENCE OF PEOPLE WHO LIVE NEAR GAS DRILLING?
Residents complain of water that is discolored, foul-smelling, bad-tasting, and in some cases even black. Some say drinking it causes sickness and bathing in it causes skin rashes. In a few cases, water has become flammable because methane has "migrated" from the drilling operations to water wells, a fact that has been confirmed by regulators in Pennsylvania. Many low-income people who live near gas rigs drink bottled water, and some have their water supplied by the gas company.
IS THERE A PROBLEM WITH WASTE WATER?
Yes. Around a third of the millions of gallons of water used in fracturing comes back to the surface where it is either reused or trucked to treatment plants. In Pennsylvania, where the industry is rushing to exploit the massive Marcellus Shale formation, critics say there isn't enough capacity to remove toxic chemicals from waste water. As a result, some waste gets pumped into rivers and creeks with little or no treatment, critics say. Some residents have accused tank trucks of dumping waste water on rural roads.
(Reporting by Jon Hurdle; Editing by Daniel Trotta)
[Green Business]
LONDON
Wed Dec 23, 2009 9:00am EST
Voluntary CO2 offset market ends year on down note
LONDON (Reuters) - Demand for voluntary carbon offsets declined in December, traditionally one of the market's busiest months, as a slow year meant retailers did not face the usual scramble to square their books, market players said.
"There has been a lack of last-minute December activity. Offset retailers usually buy any missing volumes from customer orders in the year but that was largely absent," Grattan MacGiffin, head of voluntary carbon markets at brokers MF Global in London, said on Wednesday.
"The general decline in volumes effectively gave retailers more time to get their books settled."
The unregulated voluntary market operates outside mandatory emissions cut schemes such as the United Nations' Clean Development Mechanism or the European Union's Emissions Trading Scheme.
Despite a pickup from September to November, demand for offset credits called verified emissions reductions (VERs) generally stalled this year as companies cut expenditure to reduce their carbon footprint because of the global economic slump.
VER prices were largely stable this month, except for industrial credits which were slashed to around $1.50 from $3 in an attempt to attract more buyers.
"Overall the voluntary market has bucked previous years' trends of sustained growth. Estimates are that 40 to 50 percent of volume was traded in 2009 versus 2008, as corporate social responsibility buying has been constricted," MacGiffin added.
On Tuesday, the Brazilian Securities, Commodities and Futures Exchange canceled its voluntary credit auction due to lack of participants.
OPTIMISM FOR 2010
Demand should pick up again in 2010, when the United States Senate may pass climate legislation enabling a federal emissions trading scheme. Market players hope the scheme will include some voluntary offset credits.
"The paradox of a failed Copenhagen deal makes the realization of a U.S. cap-and-trade scheme more achievable as it will not be in the shadow of strong international targets, meaning some of the Republican senators might go along with a weakish, unilateral market," MacGiffin said.
This week, Nedbank and Wildlife Works Incorporated signed a multi-million pound deal to launch the first African carbon credit scheme. Over 2.5 million tonnes of credits will be generated by a Kenyan avoided deforestation scheme. The project is seeking registration from the Voluntary Carbon Standard registry, the companies said.
Earlier this month, UK-based financial information provider Markit and clean energy project developer C-Questor launched a new carbon standard for low-carbon energy projects.
The Carbco Platinum Carbon Standard will give extra certification and validation to clean energy projects in the voluntary and regulated U.N.-backed carbon markets.
(Reporting by Nina Chestney; Editing by Anthony Barker)
[Green Business]
WASHINGTON
Wed Dec 23, 2009 7:52am EST
U.S. cracks down on lung-harming ship emissions
WASHINGTON (Reuters) - U.S. environmental regulators on Tuesday finalized engine and fuel standards for U.S. flagged ships to cut emissions that cause lung diseases and save more than $100 billion in health costs.
By 2030 the strategy should cut annual emissions of nitrogen oxides (NOX) from large oil tankers, cargo ships and cruise vessels by about 1.2 million tons and particulate matter emissions, or soot, by about 143,000 tons, the Environmental Protection Agency said.
When fully implemented, the effort will reduce NOX emissions from ships by 80 percent, and particulate emissions by 85 percent, compared to current emissions.
The EPA estimates that in 2030, the standards will prevent between 12,000 and 31,000 premature deaths and 1.4 million work days lost.
Annual health benefits in 2030 should be worth between $110 billion and $270 billion, compared to compliance costs of only about $3.1 billion, the EPA said.
"Stronger standards will help make large ships cleaner and more efficient, and protect millions of Americans from harmful diesel emissions," EPA Administrator Lisa Jackson said in a release.
An environmentalist agreed. "Frankly, it is hard to find a better deal in the public health world," Rich Kassel, the director of clean fuels and vehicles at the Natural Resources Defense Council said in a blog on Tuesday.
The EPA is also working with international organizations to control emissions from non-U.S. flagged ships.
The International Maritime Organization, a United Nations agency, is set to vote in March next year on the adoption of the joint U.S.-Canada buffer zone, which would result in stringent standards for large foreign-flagged and domestic ships operating within the designated area.
(Reporting by Timothy Gardner; Editing by David Gregorio)
[Green Business]
PHILADELPHIA
Wed Dec 23, 2009 8:57am EST
Q+A: Environmental fears over U.S. shale gas drilling
PHILADELPHIA (Reuters) - The boom in shale natural gas drilling has raised hopes the United States will be able to rely on the cleaner-burning fuel to meet future energy needs. But concerns about its impact on water quality could slow the industry's ability to tap this bountiful resource.
New York City urged a ban on natural gas drilling in its watersheds on Wednesday.
Some questions and answers:
WHY ARE ENVIRONMENTALISTS CONCERNED ABOUT SHALE GAS DRILLING?
Critics of the U.S. boom in shale gas drilling say the practice contaminates the aquifers where many rural residents get their domestic water supplies; pollutes the air around gas rigs and compressor stations, and scars the landscape with drilling pads and new roads.
The natural gas industry says the drilling technique known as hydraulic fracturing, or "fracking," is entirely safe, citing research that has yet to prove any link between fracking and water contamination that could cause illness.
WHAT'S THE PROBLEM WITH WATER SUPPLIES?
Fracking chemicals are escaping into groundwater, critics say, and in several states there have been reports of fouled water and increased illness since drilling began. In addition, naturally occurring toxic substances such as arsenic are released from underground by fracturing and have been found at elevated levels near some drilling operations.
There are more than 200 "introduced" chemicals used in fracturing but details of how they are used are not published by energy companies. They are not required to disclose it because of an exemption to a federal clean water law granted to the oil and gas industry in 2005. That exemption has made it hard for critics to prove their case.
Drilling chemicals may cause many illnesses including cancer, fertility problems and neurological disorders, critics say.
HAS ANYONE ACTUALLY FOUND TOXIC CHEMICALS IN WATER WELLS NEAR GAS DRILLING?
Yes. The U.S. Environmental Protection Agency found 14 "contaminants of concern" in 11 private wells in the central Wyoming farming community of Pavillion, an area with about 250 gas wells. The August report did not identify the source of the contamination but is conducting more tests and is expected to reach a conclusion by spring 2010. In Pennsylvania, at least two privately conducted water tests near gas drilling have also found chemical contamination. One set of tests is being used in a lawsuit by a landowner against the gas company.
HOW DOES THE INDUSTRY RESPOND TO THESE CLAIMS?
Companies argue that the fracturing chemicals are heavily diluted, and are injected through layers of steel and concrete into the shale a mile or more underground and thousands of feet below aquifers, so they cannot mingle with drinking water. Industry officials say there has never been a documented case of water contamination from gas drilling. Some fracturing chemicals are also used in household products, which may explain their presence in water tests, energy companies say.
WHAT'S THE EXPERIENCE OF PEOPLE WHO LIVE NEAR GAS DRILLING?
Residents complain of water that is discolored, foul-smelling, bad-tasting, and in some cases even black. Some say drinking it causes sickness and bathing in it causes skin rashes. In a few cases, water has become flammable because methane has "migrated" from the drilling operations to water wells, a fact that has been confirmed by regulators in Pennsylvania. Many low-income people who live near gas rigs drink bottled water, and some have their water supplied by the gas company.
IS THERE A PROBLEM WITH WASTE WATER?
Yes. Around a third of the millions of gallons of water used in fracturing comes back to the surface where it is either reused or trucked to treatment plants. In Pennsylvania, where the industry is rushing to exploit the massive Marcellus Shale formation, critics say there isn't enough capacity to remove toxic chemicals from waste water. As a result, some waste gets pumped into rivers and creeks with little or no treatment, critics say. Some residents have accused tank trucks of dumping waste water on rural roads.
(Reporting by Jon Hurdle; Editing by Daniel Trotta)
[Green Business]
LONDON
Wed Dec 23, 2009 9:00am EST
Voluntary CO2 offset market ends year on down note
LONDON (Reuters) - Demand for voluntary carbon offsets declined in December, traditionally one of the market's busiest months, as a slow year meant retailers did not face the usual scramble to square their books, market players said.
"There has been a lack of last-minute December activity. Offset retailers usually buy any missing volumes from customer orders in the year but that was largely absent," Grattan MacGiffin, head of voluntary carbon markets at brokers MF Global in London, said on Wednesday.
"The general decline in volumes effectively gave retailers more time to get their books settled."
The unregulated voluntary market operates outside mandatory emissions cut schemes such as the United Nations' Clean Development Mechanism or the European Union's Emissions Trading Scheme.
Despite a pickup from September to November, demand for offset credits called verified emissions reductions (VERs) generally stalled this year as companies cut expenditure to reduce their carbon footprint because of the global economic slump.
VER prices were largely stable this month, except for industrial credits which were slashed to around $1.50 from $3 in an attempt to attract more buyers.
"Overall the voluntary market has bucked previous years' trends of sustained growth. Estimates are that 40 to 50 percent of volume was traded in 2009 versus 2008, as corporate social responsibility buying has been constricted," MacGiffin added.
On Tuesday, the Brazilian Securities, Commodities and Futures Exchange canceled its voluntary credit auction due to lack of participants.
OPTIMISM FOR 2010
Demand should pick up again in 2010, when the United States Senate may pass climate legislation enabling a federal emissions trading scheme. Market players hope the scheme will include some voluntary offset credits.
"The paradox of a failed Copenhagen deal makes the realization of a U.S. cap-and-trade scheme more achievable as it will not be in the shadow of strong international targets, meaning some of the Republican senators might go along with a weakish, unilateral market," MacGiffin said.
This week, Nedbank and Wildlife Works Incorporated signed a multi-million pound deal to launch the first African carbon credit scheme. Over 2.5 million tonnes of credits will be generated by a Kenyan avoided deforestation scheme. The project is seeking registration from the Voluntary Carbon Standard registry, the companies said.
Earlier this month, UK-based financial information provider Markit and clean energy project developer C-Questor launched a new carbon standard for low-carbon energy projects.
The Carbco Platinum Carbon Standard will give extra certification and validation to clean energy projects in the voluntary and regulated U.N.-backed carbon markets.
(Reporting by Nina Chestney; Editing by Anthony Barker)
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