International Energy Agency IEA Chief Ec

Today the International Energy Agency released a World Energy Outlook special report: Redrawing the Energy-Climate Map, which highlights the need for intensive action before 2020. The analysts suggest 4 policy measures that can limit global temperature increase with no net economic cost.

The US carbon market shows signs of life, with carbon credit prices hitting their highest per ton price in 4 years. But most would agree the $3.21 clearing price will need to further increase for the credits to be an effective climate change mitigation strategy. (via the Financial Times).

The West Texas Intermediate crude price increased slightly, but remains range-bound (Bloomberg).