There is another bubble. Before it's burned, Coal, Oil and Gas sit for years on the balance sheets of private (and national) resource companies, as "known reserve" assets. Assets that, someday, will become revenues. Or will they? And if they won't, what will the balance sheets of ExxonMobil, Chevron, BP, Petrochina, and Gazprom actually look like? [more inside]
Canada is planning to withdraw from the Kyoto treaty. CBC, BBC, AFP. The Herald Sun claims that this is to allow shale sands oil extraction.
Get the Energy Sector off the Dole - Why ending all government subsidies for fuel production will lead to a cleaner energy future—and why Obama has a rare chance to make it happen.
The average American uses 20 pounds of coal a day. "our shiny white iPod economy is propped up by dirty black rocks.. I see more people dying of particle air pollution than are dying of AIDS." Coal accounts for nearly 40 percent of America's carbon dioxide emissions. Big Coal by Jeff Goodell.
The jolly green Hummer? The growing band of environmental offset companies which give you the chance to offload your SUV driving, energy squandering guilt onto an annual subscription and a fancy bumper sticker looks like one way that we'll be able to live with ourselves in the power hungry 21st century. Is this the placebo we've all been waiting for?
Global warming -- the upside: the entrepreneurs poised to make millions from new ports and shipping lanes in the formerly ice-bound Arctic circle. A fascinating New York Times article on the international land-grab following the news (reported here, discussed here, whitewashed here, et. al.) that the polar ice caps and Siberian permafrost are melting. Goodbye Gulf Stream, hello Club Med Santa-style -- first SUV to the North Pole wins!