• The EU’s announcement that it will back carbon emission reductions up to 95% for the developed world by 2050 is no more than cheap rhetoric. These hollow commitments are meaningless when they are not backed up with clear and detailed plans on how to effectively implement such promises. Moreover, the political leaders who try to impress, will not be the ones who will have to face the evaluation come 2050.
  • Deutsche Bank’s top oil analyst Paul Sankey says the oil price will go to 175 dollars a barrel by 2016 and he predicts the end of the oil age as transport will go electric. Excellent coverage of this story in Barron’s (with interview of Sankey) and investor’s website Seeking Alpha.