Duke Energy has pleaded guilty to environmental crimes, agreeing to pay a $102 million fine over years of illegal pollution leaking from coal-ash dumps at five North Carolina power plants. “Duke Energy appeared Thursday before a federal judge in Greenville, N.C., Thursday to settle criminal charges stemming from its 2014 coal ash spill into the Dan River.

Prosecutors in all three of the state’s federal districts filed criminal charges against three Duke subsidiaries in February. That was about a year after a broken pipe dumped up to 39,000 tons of ash into the Dan near the Virginia border.” [The News & Observer]

JPMorgan on Thursday increased its energy bonds, raising the energy sector’s investment rating to Overweight from Neutral. “The bank was previously bullish on high-quality energy names, mainly midstream companies, before the upgrade. “The upgrade moves the bank up the risk spectrum and into the broader energy sector.

Another bullish oil analyst today said drillers such as Diamondback Energy could start ramping up again.” [Barron’s]

The case against constructing Australia’s largest coal mine has focused on the threats of climate change and destruction of the Great Barrier Reef. “Leading economists and City analysts are baffled by plans from India’s Adani Group to build the A$16.5bn (£8.4bn, $13.2bn) Carmichael mine and Abbot Point port expansion – just as coal prices have collapsed.

If the Carmichael project fails to convince investors, it could jeopardise plans for at least eight other mega mines in the coal-rich Galilee basin.” [The Guardian]