Offshore wind is growing at around 20 percent a year globally and is recognized as being a core part of meeting the world’s need to limit emissions.

CEO of BP, Bernard Looney,
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World News:

Petrostates face $9trln income gap with energy transition: study

The world’s poorest oil-dependent countries are set to take the biggest hit in the transition away from fossil fuels, according to a new report published on Thursday (11 February).

The report, Beyond Petrostates, was published by Carbon Tracker, a London-based not-for-profit think tank researching the impact of climate change on financial markets.

It found that the forty nations that are the most heavily reliant on fossil fuel income could face a $9 trillion gap in government revenues over the next 20 years if demand drops in line with tightening global climate policy and technological advances.

The 19 worst affected countries, which have a combined population of 400 million, could see total government income drop by 20%, leading to job losses and cuts in public services.

Among those, the poorest countries face the largest shortfalls.

“Many of the countries set to suffer the most from revenue losses are also the poorest. In some cases, they also have large and rapidly growing populations, for example in Nigeria and Angola,” reads the report.

In Nigeria, a 70% drop in oil revenues would cut government income by a third, while in Angola, the government could lose 40% of its income. Six emerging petrostates with plans to expand undeveloped oil and gas, like Uganda, will also face revenues falling far short of expectations.

The world’s biggest oil and gas producers, including the US, the UK, the Netherlands, China, India and Brazil, are also looking at major drops in revenue, but have diverse economies that are less dependent on fossil fuels.

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Alberta Headlines:

Alberta, Ottawa spend $11.6 million on energy efficacy upgrades in Edmonton, Wetaskiwin, Calgary

The federal government is covering 80 per cent of the total $11.6 million price tag

Six provincial buildings in Edmonton, Wetaskiwin and Calgary are getting energy efficacy upgrades and retrofits thanks to $11.6 million in federal and provincial money aimed at shovel ready projects during the pandemic.

The projects will create a total of 65 construction-related jobs, Alberta Infrastructure Minister Prasad Panda said at a press conference Friday with Jim Carr, Ottawa’s special representative for the Prairies.

“These shovel-ready and short term capital maintenance and renewal projects ensure immediate tangible benefits in Calgary, Edmonton and Wetaskiwin,” Panda said.

“Let’s be clear, replacing a boiler isn’t the sexiest project but it is important skilled trades work that will put food on the table.”

In Calgary, the Calgary Remand Centre will have its chillers, air handling units, and controls replaced while the Court of Appeal building will get high efficiency boilers. The correctional centre will upgrade its fire alarm and replace window assemblies.

In Edmonton, the Government Centre is getting new cooling centres and controls and the remand centre is renewing its security system.

The Wetaskiwin Courthouse’s roof and flashing will be replaced.

The federal government is covering 80 per cent of the total $11.6 million price tag.

Read More…

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