The Gulf of Mexico oil spill disaster is likely to cost BP $23bn (£15bn) and its shares can be expected to lag behind those of its competitors by 5% for the “lasting” future, analysts warned today.
More than $9bn will come from reputational damage as a result of the Deepwater Horizon oil spill while the total costs are likely to drive up its net equity to debt ratio to 35%, much higher than its peers, according to Barclays Capital.
But this whole Gulf of Mexico fiasco sounds a bit like a trailer mash-up between a Jean-Claude Van Damme movie and Al Gore’s Inconvenient Truth. Unfortunately, this isn’t Hollywood and we’ve have 5,000 barrels of crude oil bubbling into our ocean every single day–though some are reporting it’s closer to 26,000 barrels a day!
British tax authorities have arrested 21 people after raiding homes and offices across Europe as part of a crackdown on alleged carbon-trading fraud, HM Revenue & Customs confirmed today .
Some 450 staff took part in raids on Wednesday as tax authorities across the continent intensified an ongoing investigation into alleged carbon-trading fraud, which is estimated to have cost €5bn in unpaid taxes.
Premier Wen Jiabao on Wednesday vowed to realize the country’s green goal to cut energy intensity by 20 percent between 2006 and 2010, amid the strong economic recovery.
In a nationwide video and teleconference, Wen told governments at all levels to work with an “iron hand” to eliminate inefficient enterprises.
To that effect, he laid out new targets to shut down the outdated 10 GW capacity of small thermal power plants, 25 million tons of iron smelting, 6 million tons of steel production, 50 million tons of cement, 330,000 tons of aluminum, 6 million containers of glass sheets and 530,000 tons of paper production within this year.
Homes are responsible for more than 20% of energy consumption in the United States. But how do you pinpoint the sources of all that CO2? An impressive new data-visualization tool from GE and Pentagram’s Lisa Strausfeld, who knows from information design, helps determine precisely which household electronics do the most damage.
Forty years is a long, long time from now, so making predictions about the state of the world in 2050 is a pretty easy thing to do. Who’s going to remember to fact check you? Nobody, that’s who. Still, it’s worth noting that Shell chief executive Peter Voser said yesterday that he expects plug-in vehicles to make up up to 40 percent of the global car market in 2050
“Energy efficiency can create 38,000 new jobs for North Carolinians while saving consumers $3.6 billion in energy bills, according to a new report released today by the American Council for an Energy-Efficient Economy (ACEEE). The report, North Carolina’s Energy Future: Electricity, Water, and Transportation Efficiency, suggests a broad set of policies that can meet nearly a quarter of the state’s energy demand and enables North Carolina to become a national leader in clean energy development and deployment while boosting the state’s economic growth.
The largest airport in the country, with the “greenest” parking lot, is in a bit of environmental trouble: a DIA raw sewage spill may have sent a million gallons of disgusting into waterways that can feed into the Barr Lake fishery and bird sanctuary (enjoy that, bald eagles).