Category: News

May 31 2017

Swiss Pickles Set to Benefit From First Carbon Capture Plant

Climeworks AG, the Swiss company that captures carbon from the air, opened its first commercial facility at a farm outside of Zurich. Carbon dioxide extracted by Climeworks’ direct air capture plant will pumped into greenhouses owned by Gebrueder Meier Primanatura AG in Hinwil, according to a statement from the company. The greenhouse gas will be […]

May 31 2017

Quit a Big Silicon Valley Firm? Tread Carefully When You Start Your Own Company

The biggest players in Silicon Valley’s burgeoning autonomous car industry have a warning for their top engineers: if you quit to set up your own company, tread carefully. Anthony Levandowski, a pioneering self-driving car engineer, became the highest-profile casualty of this increasingly litigious approach after Uber Technologies Inc. fired him in the midst of a contentious […]

May 31 2017

Once Costly Deep-Sea Oil Turns Cheap, to OPEC’s Dismay

Reports of deep-sea drilling’s demise in a world of sub-$100 oil may have been greatly exaggerated, much to OPEC’s dismay. Pumping crude from seabeds thousands of feet below water is turning cheaper as producers streamline operations and prioritize drilling in core wells, according to Wood Mackenzie Ltd. That means oil at $50 a barrel could sustain […]

May 31 2017

Infamous Three Mile Island Is Latest Casualty of Shale Boom

Competition from cheap natural gas has claimed another U.S. nuclear power plant in a state that has balked at government aid for financially ailing reactors. Exelon Corp.’s Three Mile Island reactor near Harrisburg, Pennsylvania, site of the worst commercial nuclear accident in U.S. history in 1979, will close in 2019 after losing money for five years, the […]

May 31 2017

This Is What the Demise of Oil Looks Like

From giant companies like Exxon Mobil Corp. to OPEC members such as Saudi Arabia, oil producers say their industry will enjoy decades of growth as they feed the energy needs of the world’s expanding middle classes. But what if they’re wrong? There’s a host of reasons to think they might be. Here’s what happens when […]

May 30 2017

The World Could Enter Climate ‘Danger Zone’ If Trump Exits Paris Deal

Donald Trump wasn’t exaggerating when he said during his election campaign that the U.S. could “cancel” the Paris Accord on climate change. A decision due from the president this week on whether to pull the U.S. out of the deal involving almost 200 nations could have a domino effect on the participation of other countries […]

May 30 2017

Exxon Facing Off With Shareholders in Climate Showdown

This week will be a public trial by fire for new Exxon Mobil Corp. CEO Darren Woods. Presiding over his first annual meeting since predecessor Rex Tillerson left to become U.S. secretary of state, Woods will be tested Wednesday on everything from climate change to his own paycheck. Analysts and investors will be watching to see […]

May 30 2017

This Is What Noble Group Has Left to Lure a Strategic Investor

Noble Group Ltd. is seeking a strategic investor to drag the beleaguered commodities trader out of what it calls an “incredibly difficult environment.” The company’s market value has shriveled by more than $1 billion this year as the Hong Kong-based firm reported a first quarter loss, S&P Global Ratings flagged a risk of default and […]

May 30 2017

Hottest Returns on DAX Generated by Old-School Coal Burners

Last year, investors jumped at the chance to buy into Germany’s landmark shift into renewable energy. Now they’re getting a lesson that fossil-fuel utilities still have plenty to give. RWE AG, Europe’s biggest coal plant operator and greenhouse-gas polluter, is the biggest gainer on the nation’s DAX index after jumping 49 percent this year. The […]

May 29 2017

World Carbon Price Seen Needing to Increase Sevenfold by 2020

Carbon prices need to jump sevenfold by 2020 from current rates in the world’s biggest market to meet climate goals cost-effectively, according to a commission of economists and scientists. A price of about $40 a ton along with adoption of other policies that encourage emission cuts would achieve targets in the 2015 climate deal agreed […]