Energy Policy Tracker – Track funds for energy in recovery packages: The Energy Policy Tracker database is updated on a weekly basis, to provide the latest information about COVID-19 government policy responses from a climate and energy perspective. Our analysis provides a detailed overview of the public finance flows as determined by recovery packages across the G20. Filter by country, energy type, finance mechanisms, and other categories to see, at a glance, what types of measures countries are implementing to tackle the crisis and what is shaping our future energy system.

The results are painful: G20 governments have already committed over USD $160 billion to fossil fuels – and only 20% of it has any green conditions attached.

This is the exact opposite of what we need to confront today’s interlinked crises. For us to limit warming to 1.5ºC, we need governments to proactively manage the phase-out of fossil fuel production. In the wake of the COVID-19 crisis – and sudden cratering of the oil economy – that is more true than ever.

Energy Policy Tracker – Track funds for energy in recovery packages: The Energy Policy Tracker database is updated on a weekly basis, to provide the latest information about COVID-19 government policy responses from a climate and energy perspective. Our analysis provides a detailed overview of the public finance flows as determined by recovery packages across the G20. Filter by country, energy type, finance mechanisms, and other categories to see, at a glance, what types of measures countries are implementing to tackle the crisis and what is shaping our future energy system.The results are painful: G20 governments have already committed over USD $160 billion to fossil fuels – and only 20% of it has any green conditions attached.This is the exact opposite of what we need to confront today’s interlinked crises. For us to limit warming to 1.5ºC, we need governments to proactively manage the phase-out of fossil fuel production. In the wake of the COVID-19 crisis – and sudden cratering of the oil economy – that is more true than ever.Read More

Cenovus takes advantage of cheap credits to boost oil output | Oilsands & Heavy Oil | JWN Energy: I guess no one told Cenovus Energy that we were transitioning to a green new world after the pandemic. Of course, we won’t hold our breath waiting for that to happen.

Cenovus Energy Inc. is taking advantage of a plunge in the price for credits that allow the oilsands company to produce more than output limits imposed by Alberta.

For August, those credits are trading at about $1.25 a barrel, compared with $7 or more before the global pandemic, according to people familiar with the market who asked not to be named because the prices aren’t public.

With those cheap credits, the Calgary-based company has pushed output to more than 405,000 barrels a day, up from less than 344,000 in April. Output at the company’s Christina Lake reached a record.

Cenovus takes advantage of cheap credits to boost oil output | Oilsands & Heavy Oil | JWN Energy: I guess no one told Cenovus Energy that we were transitioning to a green new world after the pandemic. Of course, we won’t hold our breath waiting for that to happen.Cenovus Energy Inc. is taking advantage of a plunge in the price for credits that allow the oilsands company to produce more than output limits imposed by Alberta.For August, those credits are trading at about $1.25 a barrel, compared with $7 or more before the global pandemic, according to people familiar with the market who asked not to be named because the prices aren’t public.With those cheap credits, the Calgary-based company has pushed output to more than 405,000 barrels a day, up from less than 344,000 in April. Output at the company’s Christina Lake reached a record.Read More