As part of a negotiated settlement with federal prosecutors, Duke agreed to pay $68 million in fines and $34 million on environmental projects and land conservation that will benefit rivers and wetlands in North Carolina and Virginia.
Patriot said it will continue shipping and mining operations and it has received a commitment for $100 million in debt financing from secured debt holders that it did not identify. It did not specify potential buyers for the company.
The Church of England will dump its holdings in coal and oil-sand producers and has ruled out backing companies with exposure to the most polluting fossil fuels, joining the movement that wants investors to help fight climate change.
McCarthy’s pledge comes amid anxiety over the Obama administration’s push to sharply reduce carbon dioxide emissions from the power sector while rapidly expanding the use of cleaner-burning natural gas, wind and solar.
Coal-fired power plants wouldn’t be the only beneficiary of carbon capture and storage technology, Peabody Energy CEO Greg Boyce said, stressing that in a carbon-constrained world, natural gas plants will need the tech too.
More Texas homes will be powered by cleaner-burning natural gas with or without stringent new federal regulations to cut carbon pollution from power plants, a panel of Texas regulators and electricity company chiefs said Thursday.
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