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<ul><li>The incident happened last Friday (May 29) after a fuel tank at the power plant — which is owned by the renowned nickel and <keyword id="9343535" type="UNKNOWN" weightage="20" keywordseo="palladium-producer-norilsk-nickel">palladium producer Norilsk Nickel</keyword> — collapsed in the industrial area of Norilsk. </li><li>On June 3, Russian President <keyword id="43440" type="PERSON" weightage="20" keywordseo="Vladimir-Putin">Vladimir Putin</keyword> declared a state of emergency. </li><li>The officials at the Federal Agency for Fishery under the Russian government are calling it a “ecological catastrophe.”</li></ul>Over 5 million gallons of diesel fuel spilled into <keyword id="9337149" type="LOCATION" weightage="20" keywordseo="the-ambarnaya-river">the Ambarnaya River</keyword>, within <keyword id="8773424" type="LOCATION" weightage="20" keywordseo="the-arctic-circle">the Arctic Circle</keyword>. That is equivalent to 20 metric tons of oil. The incident happened last Friday (May 29) after a fuel tank at the power plant — which is owned by the renowned <a href="https://www.bbc.com/news/world-europe-52915807">nickel and palladium producer Norilsk Nickel</a> — collapsed in the industrial area of Norilsk. The city is situated approximately 300 kilometers inside the <keyword id="536903" type="ORGANIZATION" weightage="20" keywordseo="Arctic-Circle">Arctic Circle</keyword> — and even requires permission if foreigners plan to visit. However, the news surfaced two days later when the authorities discovered the oil leak. Come Wednesday (June 3), Russian President Vladimir Putin declared a state of emergency and criticised the company officials over untimely response. He has directed officials to investigate the matter and the power plant has been detained. The officials at the Federal Agency for Fishery under the Russian government are calling it a “ecological catastrophe.” It is now believed that the Arctic Circle will take decades to recover from this. The pillars that supported the tank started to sink and the fuel tank lost pressure and the oil and lubricants seeped out of the tank causing fire across a wide area of 350 square metres. The oil spilled over 12 kilometer, turning the river red. However, this has not happened for the first time. Four years ago, Norilsk Nickel reported an accident that also turned a river red. "...It can already be said now that it will take decades for the restoration of the ecological balance of the affected Norilo-Pyasinsky water system," Klokov, the official at the Federal Agency <a href="https://energy.economictimes.indiatimes.com/news/oil-and-gas/arctic-river-will-take-decades-to-recover-from-fuel-spill-russian-official/76166505">reportedly said</a>. On the other hand, the company official said that it is going every possible extent to clear the <keyword id="6395931" type="UNKNOWN" weightage="20" keywordseo="oil-spill">oil spill</keyword>. It said that specialists from Moscow have been called to contain further spread of the oil into the region. But, it will take at least 10-14 days by the time these specialists pump out the oil. The experts say that it is ‘too early’ to assess the damage caused. See also: <a href="https://www.businessinsider.in/science/space/news/the-first-lunar-eclipse-of-the-season-will-occur-on-june-5-with-two-more-to-follow-on-june-21-and-july-5/slidelist/76188674.cms">The first lunar eclipse of the season will occur on June 5 — with two more to follow on June 21 and July 5</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-swiggy-dunzo-can-start-testing-drone-deliveries-as-india-starts-doling-out-permits/articleshow/76188887.cms">Zomato, Swiggy, Dunzo can start testing drone deliveries as India starts doling out permits</a>

Over 5 million gallons of oil seeped into a river in the Arctic Circle — turning it red

Welcome to <keyword id="933977" type="ORGANIZATION" weightage="60" keywordseo="power-line">Power Line</keyword>, a weekly <keyword id="6357014" type="ORGANIZATION" weightage="60" keywordseo="energy">energy</keyword> <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword> brought to you by Business Insider.Here's what you need to know:<ul><li>Want to get this newsletter in your inbox every Friday? <a href="http://newsletter.businessinsider.com/join/4np/power-line">Sign up here</a>. </li><li>Most of our content is available to BI Prime subscribers. <a href="https://www.businessinsider.com/subscription/prime-discount?r=birefer-bjoneshttps://www.businessinsider.com/subscription/prime-discount?r=birefer-bjones">Click here for 20% off</a>. </li><li>Got feedback or tips? Please email us at <a href="mailto:energy@businessinsider.com">energy@businessinsider.com</a>. </li></ul>My heart was heavy this week as I joined my friends, family, and colleagues in facing more vivid examples of the racism that courses through the country.We have a team of talented reporters following the protests. <a href="https://www.businessinsider.com/category/george-floyd">You can find their coverage here</a>. Where does energy fit in? Some industry workers I talked to through social media suggested that there's no place for racially-charged politics in <keyword id="6359072" type="UNKNOWN" weightage="60" keywordseo="oil">oil</keyword> and gas companies. Experts I spoke to strongly disagreed — both with the notion that protests in the name of George Floyd are political and that energy companies should not engage. <h2><a href="https://www.businessinsider.com/energy-companies-diversity-inclusion-problem-new-organization-to-help-2020-6">Energy corporations respond to the George Floyd protests. But they still have a lot of work to do, experts say. </a></h2>Pretty much every top energy company with large US holdings responded to our requests for comment, <a href="https://www.businessinsider.com/energy-companies-diversity-inclusion-problem-new-organization-to-help-2020-6">sharing memos they circulated to their staff</a> or statements condemning racism. <ul><li>That makes sense. Companies like Exxon and BP are among the largest corporations in the world, and as one diversity &amp; inclusion (D&amp;I) expert told me, "the world is watching." </li><li>"There's an expectation for business leaders to be visible, vocal, and willing to use their access and power to renounce racism and injustice," said Lanaya Irvin, president of the Center for Talent Innovation.</li></ul>But: While words matter, <a href="https://www.businessinsider.com/energy-companies-diversity-inclusion-problem-new-organization-to-help-2020-6">energy companies still have a lot of D&amp;I work to do</a>, said Dennis Kennedy, who founded the Houston-based National Diversity Council. <ul><li>About 8% of the energy industry is black, while women make up between 23% and 32%. </li><li>People of color have also historically been disproportionately impacted by pollution from the oil and gas industry. </li></ul>Time to act: Kennedy and Irvin said there's now an opportunity to turn statements into stronger action. <ul><li>It starts with community engagement, they agreed. </li><li>Kennedy is launching a new organization called the Energy Diversity and Inclusion Council, which seeks to be "the premier resource for D&amp;I for the energy sector," he said. </li></ul>Read more: "<a href="https://www.usnews.com/news/the-report/articles/2018-08-24/african-americans-shut-out-from-the-us-oil-boom">Oil Boom a Bust for Blacks</a>," by Alan Neuhauser. Do you have stories or tips about how racial justice intersects with the energy industry? Reach out to me directly at <a href="mailto:bjones@businessinsider.com">bjones@businessinsider.com</a>. <div type="image" title="Fairfield Iowa Electricity" height="1667" width="2222" msid="76224808" hostid="261"></div><h2><a href="https://www.businessinsider.com/a-small-towns-battle-against-smart-meters-and-a-utility-2020-5">Transcendental meditators fought a $12 billion energy utility — and won</a></h2>I was standing outside my parent's home in the small town of Fairfield, Iowa last month when my neighbor came over to explain that our wifi is "poison." He asked my parents to turn it off at night, sheath our router with a product called Signal Tamer, or switch to using ethernet. I thought it was ridiculous. But in Fairfield — a town of about 10,000 that's home to disciples of the late Indian guru Maharishi Mahesh Yogi who practice Transcendental Meditation — such requests are not seen as ridiculous at all. The issue: More than a thousand people in Fairfield believe that radiofrequency (RF) radiation emitted by devices like routers and cell phones is dangerous. And that created a problem for the local utility, which tried to roll out <keyword id="705422" type="PERSON" weightage="60" keywordseo="smart-meters">smart meters</keyword> that talk to the power company using similar radio waves. How it played out: Over the last two years, some Fairfield residents fought the utility's plan. And for the most part, they won, eventually forcing the company — a subsidiary of Alliant Energy — to allow them to keep their simple analog meters.Big picture: As I learned, the fight was about something much bigger than the health effects of smart meters. It was about protecting a way of life and the freedom to exercise a set of beliefs that big corporations and advancing technologies put at risk.<a href="https://www.businessinsider.com/a-small-towns-battle-against-smart-meters-and-a-utility-2020-5">Read the full story here</a>, which is full of beautiful photography from the talented writer and artist <a href="https://sanjosan.com/">Santiago José Sánchez</a>. <h2><a href="https://www.businessinsider.com/top-investor-reveals-trend-boosting-utilities-shares-top-stock-picks-2020-6">Why the CEO of a $3 billion asset manager is betting big on the utility sector</a></h2>It's all about <a href="https://www.businessinsider.com/top-investor-reveals-trend-boosting-utilities-shares-top-stock-picks-2020-6">cheap renewable energy</a>. "The incentive to build more renewables just continues to grow," Jay Rhame of Reaves Asset Management said. "The economic trends make it so you can start having confidence in <keyword id="153622" type="ENTERTAINMENT" weightage="60" keywordseo="utilities">utilities</keyword> growing over the next five to 10 years." Basically: There's a huge opportunity to replace fossil-fuel emitting power plants with wind and solar farms because they're increasingly more economical. <a href="https://www.businessinsider.com/top-investor-reveals-trend-boosting-utilities-shares-top-stock-picks-2020-6">That opportunity leads to growth</a>, which Rhame says can benefit investors. He shared his 3 top utility picks. <a href="https://www.businessinsider.com/top-investor-reveals-trend-boosting-utilities-shares-top-stock-picks-2020-6">You can find those here</a>.<h2>4 big stories we didn't cover</h2><ul><li>Startups: Swiss carbon capture startup Climeworks <a href="https://www.bloomberg.com/news/articles/2020-06-02/swiss-carbon-capture-startup-raises-76m-in-funding-round">raised another $76 million</a>, which the firm said was the biggest private investment in direct-air capture technology to date.</li><li>Clean energy vs. coal: Wind and solar energy is increasingly cheaper than even the cheapest new coal plants, according to <a href="https://www.irena.org/newsroom/pressreleases/2020/Jun/Renewables-Increasingly-Beat-Even-Cheapest-Coal-Competitors-on-Cost">a report out this week</a> from the International Renewable Energy Agency.</li><li>OPEC cuts: A coalition of top oil-producers led by Saudi Arabia and Russia known as OPEC Plus is set to extend its record cuts by another month, <a href="https://www.bloomberg.com/news/articles/2020-06-04/opec-talks-hit-impasse-as-iraq-goes-slow-with-production-cuts">Bloomberg reports</a>. Previously, the cuts were expected to step down at the end of June. </li><li>Oil spill: Russia declared a state of emergency earlier this week in a part of northern Siberia after more than 20,000 tons of diesel fuel leaked into the Ambarnaya River last Friday, the <a href="https://www.nytimes.com/2020/06/04/world/europe/russia-oil-spill-arctic.html">New York Times reports</a>. </li></ul>That's it! Have a great weekend. - Benji

Power Line: Energy's diversity problem — A fight against smart meters — Renewables to boost utilities

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Over 5 million gallons of oil seeped into a river in the Arctic Circle — turning it red

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Power Line: Energy's diversity problem — A fight against smart meters — Renewables to boost utilities

Benji Jones

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