Carbon Trade War in the Sky?
Countries opposing a European Union law that would force the world's airlines to pay for greenhouse gas emissions retaliate with a series of threats, leading to what may be the world's first carbon trade war.
The EU has mostly dismissed the threats, while the U.S. State Department sees any retaliatory measures as premature until the EU is given the chance to reconsider the current carbon emissions scheme.
Potential steps could involve barring national airlines from participating in the EU program, ending talks with carriers on new routes, imposing retaliatory levies on EU airlines or beginning serious talks with the United Nations International Civil Aviation Organization (ICAO). Dubbed “the coalition of the unwilling,” complaints of those opposing the program have already started debating the issue with ICAO.
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Saudi Arabia plans on organizing another unofficial meeting later this year. Others believe that keeping talks within the ICAO framework is the best way to resolve the dispute, in addition to working on an alternative program to curb rising aviation missions. The US remains hopeful that the EU will reconsider.
"The U.S. position on the inclusion of its airlines in this emissions trading scheme has been very clear and consistent. We believe that the EU needs to cease application of this scheme to foreign airlines and engage meaningfully with the International Civil Aviation Organization to find and develop a global approach to this problem," said Mark Toner, a spokesman for the State Department.
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.