European Union leaders are set to urge faster integration of the bloc’s power and natural-gas markets to lower energy prices as the U.S. shale-gas revolution widens the EU’s cost gap with its largest trading partner.
Companies holding United Nations carbon offsets equivalent to 7 percent of the European Union’s annual emissions cap risk losing their investment unless they find a buyer for the credits the bloc banned earlier this year.
The European Union should scrap fossil fuel and renewable energy subsidies and set a target to cut oil imports to remain the leader in the fight against global warming, according to Poland’s environment minister.
Prime Minister Stephen Harper is seeking to counter opposition to TransCanada Corp.’s Keystone XL pipeline, a project crucial for boosting Canada’s economy and Harper’s plans to make the country an energy superpower to rival Saudi Arabia.
Australia more than halved its projection for carbon prices in the year starting July 2015 to A$12.10 ($12) a metric ton as the European Union, its planned partner in a cap-and-trade system, struggles with low prices.
California would borrow $500 million in carbon allowance auction proceeds, required by law to be spent on emissions-cutting efforts, to cover general expenses under Governor Jerry Brown’s latest budget.
U.S. Secretary of State John Kerry arrived in Stockholm for meetings with Swedish leaders before traveling to the northern reaches of the country for a meeting on the sweeping climate changes affecting the Arctic.