China Launches Huge Oil Production And Storage Vessel

Chinese national oil company CNOOC built its own offshore oil drilling rig so as not to rely on western firms that could refuse to lease equipment used in disputed territorial waters in the South China Sea. CNOOC over the weekend moved that rig into to Vietnam’s 200 nautical mile exclusive economic zone to begin drilling. Some experts think these provocations on behalf of Beijing could be more about sovereignty and regional hegemony than natural resources, but extensive exploration has not been conducted due to the competing claims for control of the territory. [Foreign Policy]

Stanford University’s Advisory Panel on Investment Responsibility and Licensing recommended the institution not make investments in coal mining companies and the Board of Trustees is acting on the advice. “Stanford has a responsibility as a global citizen to promote sustainability for our planet, and we work intensively to do so through our research, our educational programs and our campus operations,” said Stanford President John Hennessy. “The university’s review has concluded that coal is one of the most carbon-intensive methods of energy generation and that other sources can be readily substituted for it. Moving away from coal in the investment context is a small, but constructive, step while work continues, at Stanford and elsewhere, to develop broadly viable sustainable energy solutions for the future.” [Stanford University]