The Stream, April 4: America’s Energy Policy

British Petroleum will resume drilling 10 existing wells in the Gulf of Mexico as early as July this year, the Financial Times reports. BP has committed to transparency and new safety measures in return, but environmental groups are up in arms.

Opinion
This op-ed by The Economist explains why President Barack Obama’s plans to wean America’s dependence on imported oil are unlikely to succeed. The New York Times anticipates a rosier scenario.

The Economist also analyzes the rise of the Green Party in Germany, where energy policies have played a key role in recent state elections.

Reuters lists Kenya’s worsening drought among a number of risk factors that could slow the country’s forecast growth of 5.7 percent this year.

China
China’s Guangdong Province, one of the most advanced regions of the country, plans to launch a carbon market within three to five years in order to meet its mandatory carbon dioxide emission targets, Reuters reports. Guangdong might set energy consumption caps for cities in the Pearl River Delta and allow them to trade energy permits with one another. Will China start using market mechanisms to meet its energy efficiency goals?

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