Welcome to Net Zero, your daily industry brief on clean energy and Canadian-resource politics.
The Lead
The rate the world’s glaciers are melting has nearly doubled over the last 20 years, according to a study published in Nature journal. The researchers also determined that melting glaciers currently contribute more to rising sea levels than both the Greenland and Antarctic ice sheets.
“Over the last 20 years, we’ve seen that glaciers have lost about 267 gigatonnes per year. So, if we take that amount of water and we divide it up across the island of Ireland, that’s enough to cover all of Ireland in 3m of water each year,” Robert McNabb, a member of the research team that conducted the study, told BBC News.
While this particular study did not explore the causes of glacial retreat, many scientists believe human emissions resulting in rising global temperatures are the predominant contributor to ice loss.
Scientists have long warned that warming temperatures driven by climate change are impacting glaciers and ice sheets around the world, resulting in rising sea levels that threaten many of the the world’s coastal cities.
“Ten years ago, we were saying that the glaciers are the indicator of climate change, but now actually they’ve become a memorial of the climate crisis,” said World Glacier Monitoring Service director Michael Zemp. The Canadian Press has more.
Internationally
The U.S. Senate approved a measure to reintroduce regulations that work to limit methane emissions, which are extremely destructive compared to other greenhouse gas emissions. The regulations were originally introduced by the Obama administration, but were relaxed by former president Donald Trump last year.
Andrew Wheeler, a former administrator of the Environmental Protection Agency, declared the change would “strengthen and promote American energy″ while saving companies tens of millions of dollars a year in compliance requirements. The Associated Press has the full story.
Staying in the U.S., the Minnesota Supreme Court affirmed a lower court’s revocation of a vital mining permit for the proposed PolyMet copper-nickel mine in northeastern Minnesota. PolyMet seeks to be the first copper-nickel mine in the state, but many are concerned about its impact on local water quality.
Environmental advocacy groups that were protesting the $1-billion project are celebrating the ruling.
“Today, the Supreme Court hit the reset button on PolyMet,” Kathryn Hoffman, CEO of the Minnesota Center for Environmental Advocacy, said in a statement. “Now it’s up to Governor [Tim] Walz and his agencies to make better decisions and protect Minnesotans and the water they depend on.”
Meanwhile, a mining robot being tested on the floor of the Pacific Ocean is currently stranded, according to the Belgian company running the experimental trial. The machine is programmed to collect samples from the seabed that are rich in cobalt and other metals used in the production of batteries.
Many environmental activists, including David Attenborough, are calling for a moratorium on deep-sea mining, on account of the largely unknown environmental impact of the practice. Reuters has the details.
On Thursday morning at 10:16 a.m., West Texas Intermediate was trading at US$64.88 and Brent Crude was going for US$68.43.
In Canada
Federal Green party members are criticizing Prime Minister Justin Trudeau’s recently unveiled climate plan for not going far enough.
“We see this as a global announcement on the part of the Government of Canada that Canada is not seeking at this time to be a leader in the fight against the climate crisis,” said party leader Annamie Paul.
The party, in association with several think tanks, has advocated that Canada commit to shrinking its greenhouse gas emissions to 60 per cent below 2005 levels by 2030. The Greens argue this would better reflect Canada’s fair share in tackling the climate crisis. Last week, Trudeau announced Canada’s plan to cut 2005 emissions levels by 40 to 45 per cent by the end of this decade.
“Even with the full weight of pressure from the Biden administration to do the right thing, the best we could get was 40 to 45 per cent? That is pathetic,” former Green party leader Elizabeth May said. “It’s a disgrace.”
In other news, B.C.’s provincial budget is receiving condemnation from environmental activists, who question the province’s commitment to climate change, given its reaffirmed support for the liquefied natural gas export industry. The National Observer has more details.
Finally, Vermilion Energy reported a first quarter jump in net income to $500 million, which was largely attributed to higher global oil prices and strong natural gas prices in Europe. Last year, the Calgary-based company recorded a $1.2-billion net loss over the same period, due to low commodity prices.
Canadian Crude Index was trading at US$51.90 and Western Canadian Select was going for US$51.11 this morning at 10:17 a.m.
Noteworthy
https://news.google.com/__i/rss/rd/articles/CBMiXmh0dHBzOi8vaXBvbGl0aWNzLmNhLzIwMjEvMDQvMjkvbmV0LXplcm8tc3R1ZHktZmluZHMtd29ybGRzLWdsYWNpZXJzLW1lbHRpbmctYXQtYWxhcm1pbmctcmF0ZS_SAQA?oc=5
2021-04-29 15:20:00Z
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