Oil’s role in India’s energy mix to be crucial for next 20 years: IOC chairman Vaidya

Indian Oil Corp. is confident the share of oil in India’s energy basket won’t change drastically over the next two decades, although incremental demand will create room for new and cleaner forms of energy, its chairman Shrikant Madhav Vaidya told the India Energy Forum by CERAWeek Oct 21. The state-run refiner, which caters to more […]

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Rockefeller Foundation with its history in oil decides to let go of its oil Investments

The Rockefeller Foundation, set up by John D. Rockefeller in 1913, has decided to divest from fossil fuels and not make any new investment in the industry, the president of the Rockefeller Foundation, Rajiv Shah, told CNN in an interview last week. Funds for the creation of the $5-billion foundation initially came from the oil money of […]

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UN cautions India over “bad economics” of coal in light of its impending auctions for private mining

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With India facing deadly air pollution, high healthcare costs and growing disaster threats from global warming, the head of the United Nations warned the country’s leaders Friday that investing more in coal was “bad economics”. India, the world’s third-largest emitter of greenhouse gases, has been ramping up its use of renewable energy – but coal […]

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The world finally has a new climate deal

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Nearly 200 nations signed a landmark deal on climate in Paris, agreeing to change the course away from fossil fuel-driven economies and set up a framework to arrest global warming and leave a more habitable world for future generations. “The Paris Agreement is a monumental triumph for people and our planet,” said U.N. Secretary General […]

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The Price of Oil and the Price of Carbon

Fossil fuel prices are likely to stay “low for long.” Notwithstanding important recent progress in developing renewable fuel sources, low fossil fuel prices could discourage further innovation in and adoption of cleaner energy technologies. The result would be higher emissions of carbon dioxide and other greenhouse gases, write Rabah Arezki and Maurice Obstfeld in the […]

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