With almost 200 nations set to hammer out a binding pact on carbon emissions in December, fossil-fuel companies led by Royal Dutch Shell Plc and Total SA say they’re refocusing on gas as a cleaner alternative to the cheap coal that now dominates electricity generation worldwide.
The two nations are building emergency stockpiles with millions of barrels of crude that mirror the reserves of oil and refined products that the U.S. and its western allies amassed after the first oil crisis of 1973 to 1974.
A state-owned gas pipeline exploded and burst into flames Friday, killing at least 15 people, destroying homes and forcing the evacuation of neighboring villages in the southern Indian state of Andhra Pradesh, authorities said.
President Barack Obama’s proposal to curb U.S. greenhouse gas emissions might improve the chances of completing a global climate treaty but is unlikely to defuse demands by China, India and others for Americans to do more.
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