Energy Blast – Feb 18, 2010

The World Wildlife Fund could withdraw its support for the 2014 Sochi Winter Olympics, criticizing preparation plans in a press release that accuses planners of a litany of environmental faults: ‘[it] has gone out of control, the quality of construction is poor, and great damage to the surrounding environment has already been caused and is going to continue‘.  Watchdog Rosprirodnadzor says that TNK-BP could lose its license to develop the Kovykta gas field in Siberia over a failure to comply with the terms of the agreement.  Reuters reports that the watchdog has already sent its recommendation for the license to be stripped to Rosnedra, and the FT notes that the threat will dent Russia’s image in the eyes of foreign investors.  Sberbank has started soliciting bids for 30 million Kyoto Protocol carbon credits, proposing over €350 million worth of offset credits.  The UK’s former energy minister looks at the drying up of production in the North Sea in recent years, as Argentina announces that it will take measures to stop ‘illegal‘ British oil drilling off the Falkland Islands.  The US’ major energy companies are trying to establish a means of implementing an emissions cap.