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February 27, 2009
7 Faint Signs that the Economy's Bottom is in Sight
There are opaque and early signs that the U.S. economy has started the
beginning of a bottoming process. Just like a diving submarine needs to stop
its downward motion and reach its lowest depth before it can resurface, the
economy needs to go through the steps of slowing its decline and stabilizing
before it can start rising again. Some recent economic data seems to suggest
that the rate of economic decline has started to slow and that sometime in
the second or third quarter the bottom maybe found.
Administration tosses out oil shale research leases
The Obama administration is tossing out leases approved during the final
days of the Bush administration that would allow companies to conduct oil
shale research on public lands in Colorado, Utah and Wyoming.
Advancing the Grid
Xcel Energy is rolling out sophisticated new technologies to enhance grid
reliability and improve energy conservation. It says that the efforts will
transform not just the utility but also the entire industry, which has seen
little change during its long history. As such, the power company is
installing "intelligent utility" technologies in Boulder, Colo. that can
remotely monitor the system and will communicate with consumers to control
energy usage.
Arizona utilities group plan 480-MW natural gas-fired plant
A group of 32 non-profit Arizona utilities are planning to build a 480-MW
natural gas-fired power plant near Eloy, Arizona, to meet supply needs,
Dennis
Criswell, a spokesman for group said Wednesday.
Bernanke on Recent Economic and Financial Developments and the Policy
Responses
As you are aware, the U.S. economy is undergoing a severe contraction.
Employment has fallen steeply since last autumn, and the unemployment
rate has moved up to 7.6 percent. The deteriorating job market,
considerable losses of equity and housing wealth, and tight lending
conditions have weighed down consumer sentiment and spending. In
addition, businesses have cut back capital outlays in response to the
softening outlook for sales as well as the difficulty of obtaining
credit.
Big Business Urged To Ax Risk By Cutting Water Use
Institutional investors are urging companies to measure,
disclose and reduce their use of water to reduce long-term financial
risks as supplies dry up from overuse and as higher temperatures melt
glaciers away.
"Companies need to be analyzing their water risk ... and to find ways to
conserve water and minimize the opportunities for literally having their
business shut down," Mindy Lubber, the president of Ceres, a Boston-based
coalition of investors. said in an interview.
Billions Flow To Water, Sewer Funds In Obama Budget
U.S. states would get a significant bump in funds for
clean drinking water and sewer systems under the budget President Barack
Obama proposed on Thursday.
Bridging the wind investment gap to 2010
After a record year for new installations in 2008, the global wind
industry faces greater near-term uncertainty as the deteriorating economic
conditions in the USA threaten to dampen growth prospects and wind turbine
supply chain investments globally, writes Emerging Energy Research (EER)
Research Director Joshua Magee.
CO2 Rise In Atmosphere Accelerates In 2008
Increases in the amount of the greenhouse gas carbon
dioxide in the atmosphere accelerated last year, the U.S. National
Oceanic and Atmospheric Administration (NOAA) told Reuters on Wednesday.
Crash Test, Lessons from the Great Depression
The longest downturn of the 20th century began in August 1929
and did not end until March 1933, three and one-half years later. During
this Great Depression:
- GDP contracted by 30%;
- Unemployment rose from 3% to 25%;
- Consumer prices fell 27%; and
- Bank insolvencies created waves of financial crises.
Envisioning a new, interconnected energy system
It's a summer day a few years from now. Some things are familiar -- for one,
you're stuck in a Philadelphia heat wave. Other things aren't.
First Solar sees breakthrough in manufacturing costs
Solar module manufacturer First Solar Inc. had both
bright and subdued forecasts for the emerging solar industry, unsettling
investors with suggestions that it expects demand to fall, competition
to increase and huge financial challenges for the industry in the near
future, as it revealed it had broken the $1/watt price barrier by
reducing manufacturing costs to just $0.98/watt.
'Gaia' Scientist Says Life Doomed By Climate Woes
Climate change will wipe out most life on Earth by the
end of this century and mankind is too late to avert catastrophe, a
leading British climate scientist said.
Green New Deal offers a route out of the recession
UK - A national Green New Deal that invests in jobs, carbon-free electricity
and innovative green technology is the way to beat the recession, says Lord
Chris Smith, Chairman of the UK Environment Agency.
Lord Smith urges the UK Government to make it easier for business and people
to go green and calls on them to lead by example with a comprehensive
programme of measures to green buildings and transport.
Harnessing the Tides; Marine Power Update 2009
If one defines "commercial ocean energy" as several tens
of megawatts, the world cannot yet boast a commercial ocean energy
installation. Indeed, only two installations of either wave, tidal or
in-stream current devices are grid-connected and can generate over 1
megawatt (MW) of power.
House removes loan guarantee expiration date, cuts Yucca funding
A fiscal 2009 spending bill approved by the House February 25 removes the
expiration date for DOE's loan guarantee program and cuts funding for the
department's spent fuel repository program.
Human Dimension Needed in U.S. Climate Research
The U.S. government's Climate Change Science Program should expand its
agenda to integrate research in the natural and social sciences that will
enable the nation to tackle problems communities actually face, says a new
report from the National Research Council.
McKinsey Maps Out China's Options For Going Green
China could become hugely more energy-efficient in the
next 20 years, but even if it did all it could, a growing economy means
its carbon footprint would still increase, says a study by McKinsey to
be released on Thursday.
N.Atlantic Climate Shift See-Saws On South; Study
Any abrupt climate changes in the North Atlantic region
have a quick see-saw effect on the South Atlantic and affect weather
around the globe rather than just locally, scientists said on Wednesday.
Nev. senator claims victory in Yucca Mountain battle
Sen. Harry Reid, D-Nev., is claiming victory in his battle to stop the
federal government from building a nuclear waste repository in his state.
Reid, the Democratic leader in the Senate, said President Barack Obama
will announce plans today for disposing of waste from the nation´s nuclear
plants without depositing it at the planned Yucca Mountain repository in
Nevada. The plans will be outlined in Obama´s 2010 budget plan.
New US, Canada, Europe alliance formed to promote biofuels
An international ethanol alliance between the US, Canada and 27 European
countries to promote biofuels worldwide, especially in developing countries,
was announced Wednesday.
North Carolina to Study Sea Level Rise for the Nation
The Federal Emergency Management Agency is awarding $5
million to the state of North Carolina for a statewide risk assessment
and mitigation strategy demonstration of the potential impacts of sea
level rise caused by climate change.
Obama budget calls for 83pct cut in GHG emissions by 2050
President Barack Obama's budget released Thursday assumes $646 billion in
"climate revenues" from the auction of greenhouse gas emission allowances in
a
national cap-and-trade system beginning in 2012. The climate program would
raise about $80 billion/year through 2019.
Obama Budget Realistic On Climate Revenue; Analysts
President Barack Obama's estimate of $646 billion in
revenue for the first years of a carbon-capping program to curb climate
change is realistic or possibly a little low, policy analysts said on
Thursday.
Obama pledges $15 billion a year investment into low carbon energy
US President Barack Obama told a joint session of Congress Tuesday that
he wants it to send him carbon cap legislation as soon as possible to "save
our planet from the ravages of climate change."
Ontario Unveils Green Energy and Green Economy Act, 2009
Just one week after U.S. President Obama signed
into law the America Recovery and Reinvestment Act of 2009 with billions set
aside to promote the build-out of new renewable energy capacity and make the
U.S. more energy efficient, Ontario's Premier Dalton McGuinty and Energy
Minister George Smitherman unveiled a plan to infuse the Canadian province
with green energy and energy efficiency improvements.
Polar Regions Found Warming Fast, Raising Sea Levels
The Arctic and Antarctic regions are warming faster than
previously thought, raising world sea levels and making drastic global
climate change more likely than ever, international scientists said on
Wednesday.
Polar Research Reveals New Evidence Of Global Environmental Change
Multidisciplinary research from the International Polar Year (IPY)
2007-2008 provides new evidence of the widespread effects of global warming
in the polar regions. Snow and ice are declining in both polar regions,
affecting human livelihoods as well as local plant and animal life in the
Arctic, as well as global ocean and atmospheric circulation and sea level.
Rule change could mean indefinite nuclear waste storage in Vernon
Could nuclear waste generated by Vermont Yankee power plant be stored for an
indefinite period on the banks of the Connecticut River?
Study Urges U.S.-China Climate Change Summit
The United States and China should hold a summit
featuring an agreement on climate change, helping to create
international support for a new global pact by the end of 2009, a former
White House adviser said on Thursday.
Supreme Court upends tribal and federal understandings of IRA
Tribal and federal lawyers said the decision will likely lead to legal
questions over the validity of tribal lands taken into trust by the interior
for tribes since the IRA was passed in 1934. And tribes not acknowledged
until after 1934 with pending or future fee-to-trust applications will now
have to prove they were under federal jurisdiction in 1934.
The Proud Few, a Stress Test with Teeth
Tomorrow morning, before the New York Stock Exchange opens, the President
could ride Amtrak’s Acela train to Manhattan. He could stand at the steps of
the Federal Hall Memorial at the corner of Nassau and Wall.
Top Solar Companies Offer Dour View Of 2009
Three of the world's top solar power companies on
Tuesday offered a dour view of the industry as it struggles with a
dearth of funding options for new projects that has driven up supplies
and sent prices on solar panels falling.
U.S. Congress Begins Talks on Energy Bill
Just days after U.S. President Barack Obama delivered a gift to the
renewable energy industry - a
multi-billion-dollar stimulus package - leaders in both Congress and the
Administration discussed plans Monday for an energy bill that would greatly
expand clean energy capacity.
U.S. Gas Drilling Boom Stirs Water Worries
At a time when America is stepping up efforts to reduce its dependence
on foreign energy, the Marcellus appears to offer an abundant alternative
close to America's biggest natural gas market, the northeast.
But Grimm and others in Hickory say they have already paid a high price
for the development of their quiet community from the noise of drills and
compressors, heavy truck traffic damaging local roads, and air pollution
from flaring or escaping gas.
US Mortgage Rates Little Changed This Week
Freddie Mac (NYSE:FRE) yesterday released the results of its
Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate
mortgage (FRM) averaged 5.07 percent with an average 0.7 point for the week
ending February 26, 2009, up from last week when it averaged 5.04 percent.
Last year at this time, the 30-year FRM averaged 6.24 percent.
US survival depends on finding new sources of energy; Obama
US President Barack Obama told a joint session of Congress Tuesday night
that the country's survival hinges on finding new sources of energy,
including
a range of renewable power.
US Treasury Releases Terms of Capital Assistance Program
The purpose of the CAP is to restore confidence throughout the financial
system that the nation's largest banking institutions have a sufficient
capital cushion against larger than expected future losses, should they
occur due to a more severe economic environment, and to support lending to
creditworthy borrowers.
Venezuela to push for new oil cuts at OPEC meet; finance minister
Venezuela will asks its fellow OPEC members to again cut crude production
at the organization's next meeting, scheduled for March 15 in Vienna,
finance
minister Ali Rodriguez said Wednesday.
What is to be Done With Credit Default Swaps?
In my view, CDS and the entire OTC derivatives market represents a form
of regulatory arbitrage – a retrograde and deliberate evasion of
established prudential norms masquerading under the innocent guise of
innovation.
Wind Power Output Hits 1,000 MW In New York
Wind power in New York for the first time reached 1,000
megawatts last week, the New York Independent System Operator said on
Thursday.
Wind turbines generate power in Antarctica
The
wind turbines are withstanding temperatures of -60°C and
average wind speeds of 53 mph and gusts of over 200 mph. The
Princess Elisabeth
Station is said to be the only polar base operating entirely on
renewable energies.
Worldwatch & Sierra Club Outline Smart Choices for Biofuels
"At a time of volatile gas prices and rising concern about global warming,
it has become clear that biofuels can play a role in reducing dependence
on oil and curbing climate change," said Christopher Flavin, president of Worldwatch Institute.
"However, the large and growing scale of the industry make it critical
that Congress now make smart choices that promote sustainable biofuels-rather
than just more biofuels-as part of a clean energy economy."
February 24, 2009
A bad year for Arctic oil industry
After several years with major oil and gas activities in the Norwegian
part of the Barents Sea, 2009 will see reduced exploration and less
investments. In 2008, a total of eight wells were drilled in the Norwegian
part of the Barents Sea. Hydrocarbons were found in four of them.
This year, however, will see a sharp decline in activities. Only two wells
are to be explored, and that is likely to take place only in autumn.
Alaska legislators approve $100 mil for renewable energy projects
Alaska legislators Friday approved a $100 million package of small
renewable energy projects -- a mixture of wind, solar, small hydro and
biomass
projects mostly in small, remote villages now dependent on diesel-powered
generation.
Algae to oil; big step toward realization
Origin’s tech is targeted at fundamentally changing our
source of oil without disrupting the environment or food supplies. Algae
bioreactors are completely independent of the current agricultural and silvicultural use of
land.
Argentina's oil output continues downward trend
Argentina's oil production fell for the seventh consecutive year in 2008,
declining 1.8 % to 230 mm barrels, according to a report from an economic
consulting firm. The study by Economia y Regiones found that natural gas
output also fell
At least 30 African countries suffer from the energy crisis
At least 30 countries in sub-Saharan Africa suffer from
the energy crisis in which arose in the past few years,...The review stressed the urgent need for the African countries to reform
their electricity companies so that lack of access to electricity does not
create a bottleneck to economic growth.
Australia Mourns Victims Of Bushfire Disaster
Australians observed a day of mourning on Sunday for the
more than 200 people killed in this month's bushfire disaster, with
thousands attending solemn ceremonies across the country.
Climate Tipping Point Near Warn UN, World Bank
The planet is quickly approaching the tipping point for abrupt climate
changes, perhaps within a few years, according to the UN Environmental
Programme's newly released 2009 Year Book and a separate World Bank report
now being presented throughout Latin America.
Coal shortage causes power shortage in India
Despite having more than 70 % of available coal reserves in the eastern
region, come February the state might face severe power shortage and
frequent power cuts due to the problem of coal shortage which might cause
havoc to the domestic power utilities and even compel some units to shut
down production.
Converting Solar Light To Electricity; Silicon-free Photoelectric Module
Integrates Easily
The installation of solar photoelectric panels - capable
of converting the sun’s light energy into electricity for its subsequent
use in households or for sale to an energy supply company - has taken
place at such a frenetic pace in recent years that it has given rise to
a demand that is greater than the production capacity of the
manufacturing companies.
Electricity systems can cope with large-scale wind power
Research by TU Delft proves that Dutch power stations are able to cope at
any time in the future with variations in demand for electricity and supply
of wind power, as long as use is made of up-to-date wind forecasts. PhD
candidate Bart Ummels also demonstrates that there is no need for energy
storage facilities. Ummels will receive his PhD on this topic on Thursday 26
February.
Energy Projects to Struggle for Investment in 2009
Whether utilities are engaged in implementing technology
locally or in the process of implementing solutions on a large scale,
the number and cost of utility infrastructure projects is proportionally
higher when compared to investments in other industries. In spite of the
ongoing credit difficulties that exist, the projected spend on large
scale utility projects continues to grow and with industry and world
leaders incorporating energy initiatives as part of their economic
recovery programmes, significant energy investments
are anticipated.
Environment Ministers To Tackle Mercury Pollution
More than 140 nations agreed on Friday to negotiate a
legally binding global treaty to phase out the use of deadly mercury, a
toxic heavy metal that threatens the health of hundreds of millions of
people worldwide.
Gas pipeline crosses newly discovered Arkansas fault
A previously unknown fault in eastern Arkansas could trigger a magnitude
7 earthquake with an epicentre near a major natural gas pipeline, a
scientist said. Haydar Al-Shukri, the director of the Arkansas Earthquake
Centre at the University of Arkansas at Little Rock, said the fault is
separate from the New Madrid fault responsible for a series of quakes in
1811-12 that caused the Mississippi River to flow backward.
Governors' coalition asks Obama to support promotion of biofuels
The US Governors' Biofuels Coalition Monday urged President Barack Obama
to provide national policy leadership on biofuels and to take action that
would help increase the distribution and use of biofuels throughout the US.
If They Weren’t Stress Testing Banks What Were They Doing All These
Years
It is amazing that Geithner’s proposal to “stress test”
banks is making news as new policy. After all, regulators were supposed
to be doing this all along.
India reports on crude output and gas production
Crude oil production has declined marginally by 0.5 % in the country
during April-December this fiscal, while refining and natural gas output
went up by 3.7 and 27 %, respectively, according to the Ministry of
Petroleum and Natural Gas.
Iran's power network experienced gigantic growth
Iran's Minister of Energy Parviz Fattah said the capacity of the
country's installed power network expanded by more than seven times in the
past three decades after the victory of the Islamic Revolution.
The minister said the nationwide network's capacity stood at about 7,024 MW
in 1978 when the victory of the Revolution took place while the figure was
49,517 MW in 2008 which showed a growth of 42,493 MW.
Loophole in law threatens British biofuels industry
The British biofuels industry has warned that oil companies are set to
save millions of pounds because of a mistake by government lawyers in
drafting biofuels legislation -- an error that could lead to the demise of
the UK's alternative fuel industry.
'Major discovery' from MIT primed to unleash solar revolution
In a revolutionary leap that could transform solar power from a marginal,
boutique alternative into a mainstream energy source, MIT researchers have
overcome a major barrier to large-scale solar power: storing energy for use
when the sun doesn't shine.
Mexico's oil production down 9.2% in 2008
Mexico's state oil company reported a drop in crude production of 9.2 %
in 2008, compared with the previous year, due to a decline in production at
its main oil field. Official estimates suggest that reserves at the
Cantarell oil field in the Gulf of Mexico will last less than 10 years.
MMS reports milestones in energy development
The Department of the Interior's Minerals Management Service (MMS)
declares three significant milestones that will potentially lead to expanded
domestic production of both traditional and alternative energy resources.
N.Y. law firm files suit against TVA for coal ash spill
The complaint claims the TVA should have known the coal
sludge contained toxic materials, including arsenic, barium, cadmium,
chromium, copper, lead, mercury, nickel, selenium and thallium, which
are hazardous to human health.
NASA's global warming satellite falls to Earth
NASA's Orbiting Carbon Observatory (OCO), a new satellite
dedicated to mapping Earth's carbon dioxide levels, crashed into the ocean
near Antarctica just after launch early Tuesday when a shroud designed to
protect the spacecraft accidentally doomed its mission.
New RPS Proposals Under Consideration by Congress
Enactment of a renewable portfolio standard ("RPS") has been under
consideration in Congress and elsewhere for several years. In a nutshell, an
RPS would require that a certain percentage of electricity sold to retail
consumers must be obtained from renewable sources, such as wind, biomass,
solar, and geothermal. Several states have enacted their own RPS, but to
date no action has been taken at the federal level. Last week, two
significant developments occurred in Washington.
North-south energy routes more attractive than east-west ones
Moscow commentator Aleksandr Shustov argues that "one of
the important consequences of the war" has been growing recognition by
all parties of just how "insecure" all pipelines and other
transportation arteries through Georgia are
Norway sees oil production falling 9.7% in 2009
Oil production on the Norwegian continental shelf may
fall 9.7 % in 2009, declining for a ninth year, the country's Petroleum
Directorate said.
Obama Eyes Climate Bill This Year Or Next-W.House
The White House signaled on Monday it could wait until
2010 for major climate change legislation to move through the U.S.
Congress as long as it fulfilled President Barack Obama's criteria for
tackling global warming.
Obama to discuss energy policy in speech to US Congress Tuesday
"I think you'll see real detail around what he's proposing, and I think
you'll see some real detail around the important investments that he
believes
this country does have to continue to make, whether that's in healthcare, or
in education, or in making our country energy independent," he told the
daily
White House briefing.
Owners of US oil storage stay cautious despite bumper volumes
Tank operators at the most prominent oil storage hub in the US aren't
seeing much additional profit from record demand for their services.
Because the city of Cushing, Oklahoma, acts as a delivery point for the
physical barrels that underpin crude oil futures on the New York Mercantile
Exchange, it's one of the world's most closely watched terminals. More oil
is stored at Cushing than anywhere else in the US outside the Strategic
Petroleum Reserve. The city is hooked into pipeline networks stretching from
Western Canada to the Gulf Coast's oil ports.
Paradox Squared
Mainstream economists and the mainstream media continue to embrace John
Maynard Keynes’ notion of the “paradox of thrift.” While most economists
subscribe to the view that the pace of long-run economic growth is a
function of productivity and thrift (saving), short-run growth can be
retarded by too much thrift.
Rare US Jaguar Caught, Released In Arizona
An extremely rare jaguar has been captured and fitted
with a satellite tracking collar by researchers in Arizona, who hope to
shed light on the habits of one of the United States' most elusive
predators.
Renewable energy industries need new transmission
The wind and solar power generation industries are calling for
large-scale improvement of the nation´s electric transmission
infrastructure.
Inadequate transmission capacity is hampering U.S. renewable energy
development, according to a white paper titled, "Green Power Superhighways:
Report of Solar-Geophysical Activity 022308
Solar activity was very low. No flares were observed
during the past 24 hours. The solar disk remains spotless. A
continued influence of the recurrent coronal hole high speed stream
is reflected in ACE solar wind measurements. Solar wind velocities gradually
increased from around 420 km/s to a peak of 487 km/s
Secretary Chu Expedites Funding for New Energy Economy
Two days after President Barack Obama signed the American Recovery and
Reinvestment Act into law, Energy Secretary Steven Chu announced a sweeping
reorganization of the Energy Department's dispersal of direct loans, loan
guarantees and funding contained in the new recovery legislation.
Sierra Leone launches $ 200 mm bioenergy project
President Ernest Bai Koroma launched a $ 200-mm project that would see
the production of renewable energy and employ more than 4,000 Sierra
Leoneans at Lungi Acre, Makari Gbanti Chiefdom. Speaking at the occasion,
the Head of State expressed delight that through his government's
business-friendly approach, the country was now attracting big companies
with big projects.
South Korea and Iraq sign $3.5 billion oil for aid deal
South Korea signed a preliminary accord with Iraq Tuesday that gives it
the right to develop oil fields in southern Iraq in return for providing
$3.55
billion worth of infrastructure to the war-torn country, the energy ministry
said.
Stimulus Legislation Small Step Forward In Addressing Water Needs
"For communities seeking to repair or replace critical water
infrastructure, today's signing represents and important step forward in
addressing a growing national challenge. The more than $6B committed for
water and wastewater needs will push forward projects critical to our
nation's public health protection, fire protection, economic strength and
our overall quality of life.
Stimulus plan includes $7.22B for EPA programs
"Through the president´s stimulus package, green initiatives will play a
significant role in powering economic recovery," EPA Administrator Lisa P.
Jackson said.
Stimulus; Energy Department scrambles to build new R&D agency
Energy Department officials said late last week they are
scrambling to assemble a team that will work out details for creating an
agile new research agency that will focus on energy technology R&D.
Study finds OCS development could add $273 bil year to US economy
Allowing oil and gas producers access to the areas of the US Outer
Continental Shelf that had been off-limits to exploration and production
could
contribute $273 billion annually to the domestic economy and create 1.2
million well-paying jobs over the life of the fields, the American Energy
Alliance, a free-market think tank, said Monday in a new report.
The EU-Russia gas pipeline crisis; Taking sides with pipelines The aggressive political rhetoric stating that Russia uses gas as a
"geopolitical weapon" is very popular in the West. Though the facts tell the
contrary.
The true costs of the tar sands project
Canada has no cohesive energy policy. Nor does it have a cohesive
environmental policy. Put the two together, and you get the tar sands of
Alberta, in all their hideous glory.
Three Inconvenient Energy Policy Truths
In the past year, a public consensus has formed around four principal energy
policy goals. These goals are:
* Minimum dependence on energy produced outside North America;
* Low environmental impact from the generation of energy;
* Reasonable cost; and
* Preservation of the American “way of life” including strong national and
economic security.
Current energy policy hasn’t achieved any of these goals and policy
failures are becoming more and more dangerous for the United States.
Tribal
embassy nears reality
“Indian country has gathered for the last several years to put together a
campaign to create an embassy – a home for Indian country in Washington,
D.C., so that we don’t have to be renters on our own land any longer,” she
said after the address given by NCAI president Joe A. Garcia at the National
Museum of the American Indian’s Rasmuson Theater.
U.S. Renewable Energy Faces Weak Economy, Old Grid
U.S. President Barack Obama set the goal: double U.S.
renewable energy production in three years. Congress provided the
incentives as part of the $787 billion stimulus package.
US crude oil demand and production down in 2008
The American Petroleum Institute (API) reported that America's demand for
crude oil fell in 2008 to its lowest level since 2003.
For 2008, US petroleum deliveries decreased by 6 %, to 19.4 mm bpd.
US DOE seeks proposals for carbon sequestration projects
The US Department of Energy is seeking proposals for projects that would
develop tools and protocols for monitoring the storage of CO2 in geologic
formations, a process whose success is considered critical for the expansion
of coal-fired electric generation in the US.
US government opens more land for oil shale research
The federal government opened the second round of land leases for oil
shale research in the western United States. The Bureau of Land Management
is soliciting nominations for parcels to be leased in Colorado, Utah and
Wyoming, according to the agency.
"Broadening the scope of research into oil shale technologies will help
accelerate the development of these vast western resources, and as a result
lessen our dependence on foreign sources of energy," James Caswell, bureau's
director said. The bureau is part of the US Department of Interior.
US spending bill would cut $100 mil from Yucca Mountain project
Congress is proposing to cut fiscal 2009 funding for the US Department of
Energy's high-level nuclear waste repository program by nearly $100 million
from the fiscal 2008 level in an omnibus appropriations bill that may come
up
for a House of Representatives' vote as early as Wednesday.
US starting strangulation tactics against Moscow
In view of the recent Ukrainian ploy in joining the Americans to attempt
at boycotting Russian gas transportation to Europe, Moscow could study and
implement a new strategy and logistics for its gas sale to its European
consumers, experts said.
US Supreme Court rejects utility appeal of order on mercury rule
The US Supreme Court on Monday said it will not hear an electric utility
industry appeal seeking to reinstate a Bush administration rule to regulate
mercury emissions from coal-fired power plants.
US Water Woes Seen Underserved By Stimulus
Federal stimulus money to repair crumbling US
infrastructure falls far short of what is needed to improve drinking
water and waste management systems and address critical water shortages,
a leading water industry contractor said on Thursday.
Volume of reserves often overstated
Calculating oil reserves is not an exact science and too often reality
disappoints. It depends not only on the nature of the well but also on the
management of its production over time.
Geologists say there are five elements required for a successful oil well:
sedimentary reservoir rock, a mature organic source (oil), migration of oil
into reservoirs, a trap and a seal to keep the oil in place. If all five
elements come together, you've got a producing oil well. Then the question
becomes: How much oil is in the reservoir and how much can be extracted?
These figures can change up or down with time.
Weatherization
Heats Up
Long relegated to the back halls of Congress, weatherization has moved up
the ranks. President Obama has now signed the stimulus bill with $5 billion
included in it so as to make 2.5 million low-to-moderate income homes more
energy efficient.
Would You Believe $4 Trillion, the Fed Missed the Housing Decline by
that Much?
The more severe decline reflects differences
between the two home price indices used by the Fed in the Z1, and a home
price index that the Fed has not (yet) publicly used.
I believe, but cannot prove, that
differences in the magnitude of the housing value declines produced by the
three different indices might account for at least some of 2008’s inadequate
policy response.
February 20, 2009
AEP backs Pickens´ plan for wind power, natural gas
American Electronic Power Co. Inc. is backing T. Boone Pickens´ plan to
generate 22% of the nation´s electricity from wind and run vehicles on
natural gas.
Cheaper Materials Could Be Key To Low-cost Solar Cells
Unconventional solar cell materials that are as abundant but much less
costly than silicon and other semiconductors in use today could
substantially reduce the cost of solar photovoltaics, according to a new
study from the Energy and Resources Group and the Department of Chemistry at
the University of California, Berkeley, and the Lawrence Berkeley National
Laboratory (LBNL).
China Says Crisis Won't Stop Its Climate Action
The global financial crisis will not affect China's
resolve to tackle global warming, the Foreign Ministry said on Thursday,
ahead of a visit to Beijing by U.S. Secretary of State Hillary Clinton.
China's Artificially Induced Snow Closes 12 Highways
China closed 12 highways around the capital Beijing on
Thursday because of heavy snow brought on after seeding clouds with
chemicals, state media said on Thursday.
Clean Energy Aspects of the American Recovery and Reinvestment Act
President Barack Obama signed the American Recovery and Reinvestment Act of
2009 yesterday, and the measure includes $16.8 billion for the DOE Office of
Energy Efficiency and Renewable Energy (EERE). The funding is a nearly
tenfold increase for EERE, which received $1.7 billion in fiscal year 2008.
Clean Energy Patents at New High in 2008
Victor Cardona, Co-chair of the firm's Cleantech Group
stated, "we are pleased to announce that results for the Fourth Quarter
2008 edition of the Clean Energy Patent Growth Index indicate that Clean
Energy Patents reached their highest level to date in 2008.
Clean-energy forum lets U.S., China swap ideas
The U.S. and China can begin cooperating on clean energy by co-funding a
joint research and development center with shared intellectual property,
creating tax-free "special energy zones" within cities to demonstrate new
projects, and training a corps of energy-conservation auditors, participants
in an international forum here said this week.
Continuing Slow Economic Signals See Mortgage Rates Fall for All
Products this Week
Freddie Mac (NYSE:FRE) yesterday released the results of its Primary
Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM)
averaged 5.04 percent with an average 0.7 point for the week ending February
19, 2009, down from last week when it averaged 5.16 percent. Last year at
this time, the 30-year FRM averaged 6.04 percent.
Cost of solar installation has fallen in decade
The cost of installing solar panels on homes and
businesses plunged 27.6 percent from 1998 through 2007, according to a
new study that questions some of the conventional wisdom about solar
power's price.
Demand soars for energy efficient electronics
With energy efficiency emerging as the "bridge fuel" to
renewable, clean energy sources, the power electronics industry is
poised to step into the breach with software as well as hardware
solutions needed to build intelligent power systems.
Despite Best Efforts of US Government, Large Companies Say Credit
Remains Scarce
As the U.S. government prepares to implement the latest phase of its bank
rescue plan, new research from Greenwich Associates reveals that large
companies around the world see previous efforts by national governments to
restore the flow of credit as having only limited success.
Of the 599 large companies in North America, Europe and Asia surveyed by
Greenwich Associates from January 28 – February 3, 2009, only 30% say it
has become easier to secure credit in the three months since governments
in the United States, the United Kingdom and other countries first
announced their plans to shore up the banking sector and revive global
credit markets.
DOE To OK Renewable Energy Projects In Spring; Chu
Under the department's loan guarantee program, the department pledges to
repay a loan made by a financial institution for a renewable energy project
if the project's operator defaults on the loan.
The massive economic stimulus package signed into law this week by President
Barack Obama provides $6 billion in loan guarantees for clean energy and
electricity transmission projects.
E.P.A. Expected to Regulate Carbon Dioxide
The Environmental
Protection Agency is expected to act for the first time to regulate
carbon dioxide and other greenhouse gases that scientists blame for the
warming of the planet, according to top Obama administration officials.
Europe 'unaware' of its water footprint
While Europe may take better care of its water resources than other
continents, it in fact uses larger quantities via imports of goods such as
cotton, beans or wood, which often come from regions that already suffer
from water scarcity, argues a UN expert in an interview with EurActiv.
Forests Absorb 20 Percent Of Fossil Fuel Emissions; Study
Using data collected from nearly 250,000 trees in the world's tropical
forests over the past 40 years, their study found that tropical forests
across the world remove 4.8 billion metric tons of carbon dioxide emissions
each year.
GHG concerns can't wait for economy bounce; US Senate Energy aide
World leaders, including US President Barack Obama, must maintain focus
on climate change problem-solving and not push that to the back-burner while
trying to foster economic health, the senior Democratic aide to the US
Senate
Energy and Natural Resources Committee said Thursday.
High radiation levels on shipment prompt changes by Xcel Energy
Xcel Energy is changing its procedures and its employee training to avoid
a repeat of an October incident in which a piece of equipment shipped from
Minnesota to Pennsylvania was found to have radiation levels above federal
limits
Integrated
Distributed Solar
Every building standing today is a solar collector. The primary
collecting surface is the roof and if the building sits in the bright
sunlight it will literally catch some rays. But even in this time of
increased awareness about renewable solar energy to help reduce
greenhouse gases and shift away from fossil fuels, most of that energy
goes to waste.
Is This the Tip of the Iceberg, is Iceland a Microcosm of Things to
Come?
Hennessee Group LLC, an adviser to hedge fund investors, believes the
current global financial crisis could be entering a new and more treacherous
phase, one that could push international countries to the brink of failure
and further hinder the global economic recovery.
LBNL Reviews the Cost of Transmission for Wind Power
A new report released by Lawrence Berkeley
National Laboratory (LBNL) assesses the cost of new transmission for wind
through a review of 40 detailed transmission studies that involve wind
energy.
“The range in transmission costs for wind implied by these 40 studies was
surprisingly large,” ...
New York City Prepares for Higher Temperatures, Rising Sea Levels
As a
low-lying coastal city, New York will face higher temperatures and more
rapidly rising sea levels, as well as more frequent and intense extreme
weather events - like heat waves, heavy rainstorms, and coastal flooding
- over the course of the century as a result of global warming,
according to a new report released Tuesday by Mayor Michael Bloomberg.
Obama Agrees To Work With Canada On Clean energy
OTTAWA - The United States and Canada, two significant greenhouse gas
emitters, agreed on Thursday to work together on new energy technologies to
fight climate change, saying it was key to recovery from global recession.
Obama's Future Legacy
President Obama faces two wars and the worst recession since at least 1982.
His prescription to remedy the nation's financial ills is now termed as
Obamanomics -- the infusion of roughly a trillion dollars into the American
economy and specifically into new transmission lines and green energy
production.
But will such policies work and how do they differ from Reagan's legacy?
Oklahoma bills offering tax incentives for using alternative energy pass
committee
Two bills that would give tax credits as a way to
encourage Oklahomans to use alternative fuels unanimously passed a House
committee today.
Ongoing gasoline price rise reflects higher demand; API economist
The continued rise of US gasoline prices since the last week in December
was mainly due to higher demand, with consumers taking advantage of prices
as
much as 40% lower than a year ago, the American Petroleum Institute's chief
economist said Thursday.
Past Climate May Give Clue To Modern Change; Expert
Abrupt shifts in the climate such as the end of Ice Ages
could provide an early warning system for modern changes such as
prolonged droughts, a leading scientist said on Monday.
Plan tells developers to weigh up years of sea change
Australia: EVERY new beachside home, coastal apartment block and piece of
infrastructure on the coastline of NSW would have to be re-examined under
a State Government draft policy on rising sea levels.
Rainy
Oregon's Sunny Future
Oregon Governor Ted Kulongoski introduced a trio of bills to the 2009 state
legislature that, if passed, would give solar energy in the state a
significant boost.
The first two, House Bills 2121 and 2181, would make installation of
solar energy facilities more affordable to homeowners and developers.
Report of Solar-Geophysical Activity 021909
Solar activity was very low. No flares were observed and
the visible disk remains spotless. A weak, slow moving CME observed.
By days two and three (21 - 22 February), predominately
quiet to unsettled conditions are forecast as a recurrent coronal
hole high speed stream is expected to rotate into a geoeffective
position. The CME mentioned earlier is not expected to be
geoeffective.
Stimulus Plan Will Create Sustainable Jobs That Will Protect Public
Health
The economic recovery plan signed by President Obama will create 3 to 4
million quality, sustainable jobs with many protecting our country’s
public health and our environment.
“Through the President’s stimulus package, green initiatives will play a
significant role in powering economic recovery,” said EPA Administrator
Lisa P. Jackson. “EPA’s portion of the plan will create good, sustainable
jobs that help produce cleaner drinking water, purer air, environmentally
friendly urban and rural re-development, and reduced greenhouse gases.
Sun-powered device converts CO2 into fuel
Powered only by natural sunlight, an array of nanotubes is able to
convert a mixture of carbon dioxide and water vapour into natural gas at
unprecedented rates.
Such devices offer a new way to take carbon dioxide from the atmosphere and
convert it into fuel or other chemicals to cut the effect of fossil fuel
emissions onglobal climate, says Craig Grimes, from Pennsylvania State
University, whose team came up with the device.
The Environmental Food Crisis; A Crisis of Waste
Over half of the food produced globally is lost, wasted
or discarded as a result of inefficiency in the human-managed food
chain, finds a new study by the United Nations Environment Programme released today.
The Time Is Right for a Renewed Focus on Energy
Many factors are occurring to cause the Obama
administration's well-publicized focus on infrastructure in general and
on energy policy in particular. Energy independence has been a
long-discussed but little-pursued goal. The current economic situation
seemingly calls for a large stimulus from the federal government.
Spending on infrastructure and energy has the dual advantage of causing
job increases, resulting in increased spending in the relative short
term, and of providing for long-term assets, which can generally
increase the productivity of the economy.
Treasury Releases First Monthly Bank Lending Survey
Despite the negative effects of the economic downturn and unprecedented
financial markets crisis, the first survey of the top 20 recipients of
government investment through the Capital Purchase Program (CPP) found that
banks continued to originate, refinance and renew loans from the beginning
of the program in October through December 2008.
Tutorial -
Mark To Market
Mark to market reflects how much such assets would be sold for if they were
put on the market today. Methodologies used in the mark to market
calculation are classified on three different levels.
United States Files Clean Air Lawsuit Against Louisiana Generating
The United States has filed a complaint against Louisiana Generating
alleging that the company violated the Clean Air Act by operating the Big
Cajun 2 Power Plant, a coal-fired power plant in New Roads, La., without
also installing and operating modern pollution control equipment after the
generating units had undergone major modifications, the Justice Department
and U.S. Environmental Protection Agency (EPA) announced today.
US DOE head Chu has no comment on OPEC, touts green energy loans
He said that he does not know why it has taken the DOE several years to
issue the federal loan guarantees, but "our target is start writing checks
by
the end of April or the end of May....so three or four months instead of
three
or four years," the secretary said.
Viable, Sustainable Biofuel Production Can Reduce US Petroleum
Dependence
An in-depth study by Sandia National Laboratories
and General Motors Corp. has found that plant and forestry waste and
dedicated energy crops could sustainably replace nearly a third of gasoline
use by 2030.
WasteInbox 021909 Several news
outlets are
reporting that EPA
Administrator Lisa Jackson intends to act quickly to lay
out a map by which the agency will begin regulating carbon
dioxide and other greenhouse gases.
Both Reuters and the New York Times point to April 2,
the second anniversary of the Supreme Court decision
Massachusetts v. EPA, and say "there is wide expectation"
that Jackson will take action by then.
February 17, 2009
China Vows To Squeeze 60 Pct More Out Of Its Water
China, faced with widespread water shortages exacerbated
by its worst drought in decades, aims to cut the amount of water it uses
to produce each dollar of national income by 60 percent by 2020, state
media said.
Climate Could Cross Critical Threshold by 2100, Expert Warns
Without decisive action by governments, corporations and individuals,
global warming in the 21st century is likely to accelerate at a much faster
pace and cause more environmental damage than predicted, warns a leading
member of the Nobel Prize-winning Intergovernmental Panel on Climate Change.
Drilling for Oil is Not the Answer
More Drilling Cannot Make the U.S. Energy Independent
More Drilling Will Not Reduce Oil or Gasoline Prices
We Can Move Beyond Oil
Email concerning information on the Bakken Formation
Recently, two technological advances, horizontal
drilling and hydraulic fracturing, have been combined to allow economic
production of oil from the Bakken. This has
opened up a new potential resource that oil companies are exploring.
European Union 2008 CO2 emissions down on fuel-switching; report
A drop in CO2 emissions in 2008 among installations covered by the EU
Emissions Trading Scheme was driven primarily by fuel-switching, according
to
a report released Monday by UK-based consultancy New Carbon Finance.
First Carbon-Free Polar Station Opens In Antarctica
The world's first zero-emission polar research station
opened in Antarctica on Sunday and was welcomed by scientists as proof
that alternative energy is viable even in the coldest regions.
Pioneers of Belgium's Princess Elisabeth station in East Antarctica said if
a station could rely on wind and solar power in Antarctica -- mostly a vast,
icy emptiness -- it would undercut arguments by sceptics that green power is
not reliable.
Global Warming Worse Than Predicted - US Scientist
The climate is heating up far faster than scientists had
predicted, spurred by sharp increases in greenhouse gas emissions from
developing countries like China and India, a top climate scientist said
on Saturday.
Just Say 'Drill'
The Rand Corporation estimates that crude oil prices
have to be between $70 and $95 per barrel for oil development in Green
River to be profitable.13 Once developed, these resources would be here
to stay, cutting into OPEC's share of the market.
Killing coal not an option for US energy mix; panel
Even as cost and climate concerns continue to mount, industry executives
say coal will remain the dominant force in meeting US energy demand in the
future.
Massive Effort Underway To Save Endangered Seeds
Farmers and plant breeders around the globe are planting
thousands of endangered seeds as part of an effort to save 100,000
varieties of food crops from extinction.
In many cases, only a handful of seeds remain from rare varieties of
barley, rice and wheat whose history can be traced back to the Neolithic
era...
MIT Undergrads Develop Energy-Generating Shock Absorbers MIT undergraduates have created a
regenerative shock absorber that can increase vehicle fuel efficiency by
10 percent. Not only does this conserve energy that would otherwise be
wasted as heat, it also reportedly results in a smoother ride than
conventional shocks.
The team is moving quickly to commercialize the technology, initially
focusing on organizations with fleets of heavy vehicles, such as the
military.
Moscow's New Energy Policy Worries Central Asian Nations
Central Asian leaders gathered for a summit of former
Soviet states last week amid signs that Russia was beginning to show a
more active interest in their region's water and energy disputes.
However, regional analysts were divided over whether Moscow's engagement
would help bring the different states closer together, or deepen the
existing divisions between them.
North Dakota -- not quite ready for OPEC prime time
The United States Geological Survey announced on Thursday that there may
be 3.0-4.3 billion barrels of "undiscovered, technically
recoverable oil" in the Bakken shale formation,
discussed briefly here at How the World Works yesterday. The USGS said
it was the largest "continuous oil accumulation" it had ever assessed. For
comparison purposes, the Alberta oil sands are thought to have 175 billion
to 300 billion barrels of recoverable oil, and Saudi Arabia claims upward
of 260 billion. So while 4.3 billion might seem like a big number, it's
not quite the big leagues.
NYMEX crude opens down $2.20/b on strong dollar, weak equities
NYMEX March crude futures opened $2.20/barrel lower at $35.31/b Tuesday
as a stronger US dollar and weak equity futures place downward pressure on
prices across the petroleum complex.
Obama Shifts U.S. Policy to Back Global Mercury Control Treaty
The Obama
administration has reversed the former U.S. position on limiting mercury
pollution worldwide. Before astonished environment ministers attending
the United Nations Environment Programme
Governing Council opening session in Nairobi today, the U.S. delegation
endorsed negotiations for a new global treaty to control mercury pollution,
to begin this year.
Obama, Harper to discuss energy in Ottawa; White House
US President Barack Obama and Canadian Prime Minister Stephen Harper
will discuss a range of issues, including energy, when they meet next week
in
Ottawa, the White House said Friday.
Oil Field Terminology
Technically recoverable resources. Volume of petroleum representing
that proportion of assessed in-place resources that may be recoverable using
current recovery technology,
without regard to cost.
(highlight added)
The Bakken Formation would only supply America's needs for about 175
days
The Bakken Formation
contains an average estimate of 3.65 billion barrels of recoverable oil.
That sounds like a lot, but when you consider that the US currently
consumes almost 21 million barrels of oil PER DAY, the oil in the Bakken
Formation would only supply America's needs for about 175 days.
U.N. urges G20 leaders to back 'Green New Deal'
World leaders meeting in London in April should
kick-start a "Green New Deal" to fight climate change and revive the
crippled global economy on a sustainable basis, a major U.N. environment
meeting was told on Monday.
UK And Poland Top Dirty Coal List, Closures Loom
Britain, Poland, Spain, France and Romania top the list
of countries that will have to retire coal-fired power stations by 2015
to comply with European Union acid rain laws, European Commission data
shows.
US Stimulus Bill Likely To Revive Green Power-ANALYSIS
The US renewable energy sector, which has been hit hard
by the banking crisis, will get a new lifeline from the economic
stimulus package that is expected to pass the US Congress on Friday.
The flow of new wind and solar projects has slowed to a dribble in the past
few months, forcing some solar companies to lay off workers and others to
temporarily idle production lines as banks shut off capital flows to the
industry.
When Population Growth and Resource Availability Collide
As land and water become scarce, competition for these vital resources
intensifies within societies, particularly between the wealthy and those who
are poor and dispossessed. The shrinkage of life-supporting resources per
person that comes with population growth is threatening to drop the living
standards of millions of people below the survival level, leading to
potentially unmanageable social tensions.
February 13, 2009
72% of Energy Professionals Surveyed Indicate a Shortage of Qualified
Professionals in the Energy Efficiency and Renewable Energy Fields in
the Next Five Years
The Association of Energy Engineers, a nonprofit professional society of
over 9,500 members, released yesterday the results of the survey on Green
Jobs and Energy Independence.
Based on 962 responses from experienced Energy Professionals, the survey
.
Additional OPEC cuts would further 'tighten' market; IEA chief
Additional production cuts by OPEC would tighten world crude supplies,
causing prices to rise, Nobuo Tanaka, executive director of the
International
Energy Agency, said Friday.
Australia Calls Inquiry Into Own Emissions Plan
The Australian government has convened a parliamentary
inquiry into its plan for curbing greenhouse gas emissions, but denied
on Friday it was backing away from the scheme which is due to launch
next year.
Australia Fires Spark Calls For Climate Action
YEA - Firefighters called on the Australian government on Thursday to take a
tougher stance against climate change in an effort to avoid more deadly
bushfires like those that killed 181 people this week.
"Without a massive turnaround in policies, aside from the tragic loss of
life and property, we will be asking firefighters to put themselves at an
unacceptable risk," United Firefighters Union of Australia said in an open
letter.
Can Algae Save The World - Again?
Can algae save the world again? The microscopic green
plants cleaned up the earth's atmosphere millions of years ago and
scientists hope they can do it now by helping remove greenhouse gases
and create new oil reserves.
Canada Eyes Climate Deal With 'Open-Minded' Obama
Canada's Conservative government said on Thursday it
hopes to reach a climate change deal with the U.S. Obama administration,
saying an economic crisis is not an ideal time for Canada to be imposing
new costs on industry on its own.
Carbon-neutral power key to climate challenge; EURELECTRIC
Delivering a carbon-neutral power supply through a competitive energy
market is key to solving energy-climate challenges, the president of the
European electricity industry group EURELECTRIC, Lars G Josefsson, said in a
statement Friday.
Carney on the Canadian and Global Economies
The following is opening statement by Mark Carney, Governor of the Bank of
Canada, to the House of Commons Standing Committee on Finance.
CO2 hits new peaks, no sign global crisis causing dip
Atmospheric levels of the main greenhouse gas are
hitting new highs, with no sign yet that the world economic downturn is
curbing industrial emissions, a leading scientist said on Thursday.
Congress Seen Backing Renewable Energy Standard
There is enough support in the U.S. Congress to pass
legislation requiring utilities to generate a portion of their
electricity supplies from wind, solar and other renewable energy
sources, the chairman of the Senate Energy and Natural Resources
Committee said on Tuesday.
Dems push stimulus to Friday finish line
Congress is poised to pass a $789 billion stimulus package in time to meet a
self-imposed Presidents Day deadline, fulfilling President Obama’s first
priority for reviving the national economy.
Falling drill rates could mean Lower 48 production drop; analyst
A 40% decline in natural gas drilling activity in the US Lower 48 states
would cause gas production to fall in 2009, reversing a 7-year trend of
steadily increasing production, an analyst said Thursday.
Fish Seen Shifting 125 Miles By 2050 Due To Warming
Global warming will push fish stocks more than 200 km
(125 miles) toward the poles by mid-century in a dislocation of ocean
life, a study of more than 1,000 marine species projected.
Tropical nations were likely to suffer most as commercial fish stocks swam
north or south to escape warming waters, the report said. Alaska, Greenland
and Nordic nations would be among those to benefit from more fish.
From Dutch Sewers To Jet Fuel -- Via Algae
A lot of waste waters have a lot of nutrients, and
people don't know what to do with them -- so why not grow the algae in
the waste," Carel Callenbach
told Reuters in an interview.
"The waste of biomethane (biogas) plants has very rich nutrients left over.
At the moment they just pump it to the river or throw it away -- but we say
next to these biomethane plants you need to build algal ponds to grow
biomass."
Geithner Introduces Financial Stability Plan
The following are remarks by Treasury Secretary Timothy Geithner introducing
the Financial Stability Plan.
Green energy may provide an economic boost to the Navajo Nation
The current thrust toward energy independence may offer
the Navajo Nation an opportunity to create green jobs, initiate an
economic renewal and revive traditional enterprises, according to tribal
advocates.
Labor Organizers Focus on Renewable Energy Jobs
At the heart of the economic stimulus package
making its way through Congress is the creation of jobs in renewable energy
and other environmentally friendly services. But a new report released by
labor organizers and environmentalists warns that those jobs must be more
than green.
Lower US Mortgage Rates Translate into Large Volume of Refinancing
Freddie Mac (NYSE:FRE) yesterday released the results of its
Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate
mortgage (FRM) averaged 5.16 percent with an average 0.7 point for the week
ending February 12, 2009, down from last week when it averaged 5.25
percent. Last year at this time, the 30-year FRM averaged 5.72 percent.
Mark to Market Accounting, It’s Like The Blob, We Need to Kill It Before
It Eats Us Alive!
We need to kill mark to market accounting before it eats us alive. These
accounting rules are like The Blob, an alien life form that consumes
everything in its path as it grows and grows. Both the Blob and mark to
market accounting crawl, creep and eat everything dead or alive in their
path. We need to save ourselves by putting mark to market accounting into
deep freeze while there is something left to save.
Model sees severe climate change impact by 2050
A computer model calculated that if carbon dioxide emissions continue to
grow at the current rate over the next 40 years, global temperatures will
still rise 2 degrees Centigrade compared with the beginning of the
Industrial Revolution.
N.J. utility, group lobby for renewable portfolio standard
New Jersey gas and electric utility Public Service Enterprise Group Inc.
is calling on the federal government to adopt a national renewable portfolio
standard.
'Nuclear Pork' Cut Out of Final Recovery and Reinvestment Package
The Senate-House conference committee has reconciled the chambers'
different versions of the American Recovery and Reinvestment Act, coming up
with a $790 billion economic stimulus package. The final version will go to
a vote in the House and Senate later this week.
Oil Refiners To Pay $141 Million Over Pollution
Two oil refiners in Wyoming and Kansas have agreed to
pay a total of $141 million to settle air pollution violations, the U.S.
Environmental Protection Agency said on Tuesday.
OPEC cuts 2009 world oil demand estimate to 85.13 million b/d
In its latest monthly oil market report, OPEC said it now expected world
oil demand to drop by 580,000 b/d this year, compared with a previous
estimate
of a fall of 180,000 b/d.
Patriot Coal Fined $6.5M for Damage to West Virginia Streams
One of the largest coal mining companies in the United States has agreed
to pay a $6.5 million civil penalty to settle violations of the Clean Water
Act, federal and West Virginia agencies have announced. The consent decree
signed by Patriot Coal includes the third largest penalty ever paid in a
federal Clean Water Act case for discharge permit violations.
Powerful Economic
Engines
Rather than using production tax credits at a time when
most businesses will owe the government substantially less, green
developers need the cash now. By making the current tax credit
refundable, those advocates say that it will have an immediate effect --
and all in keeping with the Obama administration's stated goal of
creating 3-4 million next-generation jobs. Legislation is now floating
on Capitol Hill to do exactly that.
Recession to hit other sectors harder than it will power; panel
A panel at CERAWeek in Houston Thursday unsurprisingly agreed on one
thing Thursday. The US economy has worsened at a dramatically faster rate
than
any of them had expected. But, they said, the US power generation sector
will
likely be less badly hurt in the coming months than other sectors.
Renewable Energy; 'Yes We Can'
Changing the direction of the country's energy
policy is central to the agenda of the nation's 44th President, and
supporting renewable energy development and deployment lies at the heart of
President Obama's plan. Most notably, President Obama has called on Congress
to pass legislation that would invest US $150 billion in a "clean energy
economy" over 10 years potentially creating as many as 5 million green jobs.
Report of Solar-Geophysical Activity 021209
Region 1012 (S05E48)
produced today's only flare, a B4 at 1619Z. The event was associated with a
relatively symmetrical wave that was well defined...The geomagnetic
field is
expected to be quiet for the first day (13 February) and partway
through the second day (14 February). During the latter part of the
second day and continuing through the third day (15 February) a
favorably positioned coronal hole is expected to increase activity
to unsettled levels with a chance for active periods.
Salazar Broadens Offshore Energy to Wind, Waves, Currents
On its last business day in office, the Bush administration proposed a
new five year plan for offshore oil and gas leasing to follow the current
plan, in effect through 2012. Today, Secretary of the Interior Ken Salazar
put the brakes on this "midnight action" in favor of building a framework
for offshore renewable energy development to incorporate "the great
potential for wind, wave, and ocean current energy into our offshore energy
strategy."
Senators urge federal action on greenhouse gas registry
The heads of two Senate panels overseeing environmental issues have
written a letter to the U.S. EPA and White House officials urging swift
federal action on establishing an economywide greenhouse gas registry.
Team Will Use Radar To Measure Thinning Arctic Ice
Three British polar adventurers will this month begin a
620-mile trek to the North Pole with an experimental portable radar set
to gauge exactly how fast Arctic ice sheets are melting, they said on
Thursday.
The 9-pound (4-kilogram) radar has been designed to give much more accurate
read-outs of ice thickness than the current method of using submarines or
satellites.
The
US Utility-scale Solar Picture
While the pace of installations of distributed
solar systems for homes and businesses has steadily risen over the past few
years, utilities have mostly stayed out of the picture. However that appears
to be changing now as more and more utilities are looking at solar energy as
major contributor to their current and future renewable energy portfolios.
U.S. Corn For Ethanol To Rise, Growth To Slow; USDA
U.S. corn used to produce ethanol will increase in
2009/10, but beyond that, growth is forecast to slow with demand
mirroring changes in gasoline consumption, the Agriculture Department
said on Thursday.
USDA projected 4.2 billion bushels of corn will be used to produce ethanol
in 2009/10, an increase from 3.6 billion bushels forecasted for the current
year.
U.S. plastic bag, film recycling hits record high in 2007
U.S. plastic bag and film recycling hit a record high in 2007, as
Americans recycled an estimated 830.2 million pounds of post-consumer
material, according to a report released this month.
UK Plans Efficiency Retrofits For All Homes
Britain proposed on Thursday to allow all households
from 2012 to apply for loans and cash to save energy and cut carbon
emissions, costs energy companies are likely to meet and pass on to all
consumers.
US Fed is Prepared to Expand the Term Asset-Backed Securities Loan
Facility
The expansion could increase the size of the TALF to as much as $1 trillion
and could broaden the eligible collateral to encompass other types of newly
issued AAA-rated asset-backed securities, such as commercial mortgage-backed
securities, private-label residential mortgage-backed securities, and other
asset-backed securities.
US must take role to ensure European energy security; think tank
The US has a direct economic and strategic interest in the energy
security of Europe -- particularly regarding Europe's dependence on Russian
natural gas -- and can play a vital role in ensuring that security, though
whether US leaders have the political will to fulfill that role is unclear,
according to a report from the Council on Foreign Relations.
US Senate Passes Stimulus Package with Renewable Energy Provisions
The U.S. Senate voted today to pass the American
Recovery and Reinvestment Act. The bill (H.R. 1) is the US $839 billion
stimulus package that the Obama Administration has been pushing as a means
to help the nation recover from the current economic situation. The bill
passed by a vote of 61-37, mostly along party lines.
US stimulus bill's 'Buy American' clause excludes wind farms
Private wind energy projects in the US that aim to take advantage of
financing available through the proposed economic stimulus bill under
consideration by Congress will not be affected by the bill's so-called Buy
American provision...
Volkswagen, Toshiba To Develop Electric Car
Volkswagen AG will team up with Toshiba Corp to develop
an electric-powered version of its subcompact Up! concept car after
signing a letter of intent on Thursday, Europe's largest carmaker said.
Waste Inbox 021109
Judging from this Associated Press
story, oil
industry leaders appear to be growing resigned to the
prospect that they´ll soon be working under either a
cap-and-trade emission credit system or a tax on carbon emissions
Why Global Warming May Be Fueling Australia's Fires
Although the wildfires caught so many victims by
surprise last weekend, there has been no shortage of distant
early-warning signs.
February 10, 2009
Auto 'Clunker' Proposal Withdrawn from US Stimulus
One proposal to help jump start US auto sales was
withdrawn late on Thursday and the fate of another was unclear, despite
a vigorous endorsement from President Barack Obama, as Senate
consideration of economic stimulus legislation accelerated.
Californians Find New Ways to Maximize Every Precious Drop
There is 70 percent chance of rain in Los Angeles today, which would
bring some relief to the parched area. Even so, the Metropolitan Water
District of Southern California is asking that residents find ways to reduce
water use at home.
Eastern grid needs $50-$80 bil in upgrades to boost wind; Study
Increasing the use of wind power to 20% across a large section of the US
Eastern Interconnection would require about $80 billion in new transmission
infrastructure, according to a report released Monday by regional grid
operators and utilities.
Falling fuel costs bring lower power prices; Compete Coalition
A sharp reduction in US power prices that was tied to lower fuel costs
"should put to rest the shallow arguments suggesting that competitive
markets
aren't working because electricity prices increase," the Compete Coalition
said Wednesday.
Ford to unveil North American electric commercial vehicle
Ford Motor Co. plans to market a battery-powered light commercial vehicle
in North America next year.
The company is using its Transit Connect global commercial vehicle
platform, developed in Europe, for the project. The electric vehicle will
have a range of up to 100 miles.
Gas prices
continue to rise
"Despite the commodity trading between these price
points, the cost of gasoline has increased based on the expectation that
OPEC and U.S. refiners would be able to cut output to bring supply and
demand into balance and reports that some in the energy sector are
trying to prop up prices by parking oil tankers in harbors in an attempt
to increase their retail margins," was the official explanation from AAA
Arizona.
Groups sue EPA over nitric acid plant emissions
The Environmental Integrity Project and the Sierra Club filed a lawsuit
Feb. 4 accusing the U.S. EPA of violating its duty to review and update its
emission standards for nitric acid plants, which produce chemicals used in
the fertilizer and explosives industries.
Groups Sue for Clean Water Law Enforcement in Northern California
Conservation and fishermen's groups filed a lawsuit Wednesday in
California Superior Court seeking to force state and regional water boards
to implement existing clean water laws in the wild rivers and streams of the
state's North Coast region.
Huge Crowd At Henry Ford CC Shows Renewables Are Hot Industry An overflow crowd of more than 400 packed the
Alternative Energy Summit Friday at Henry Ford Community College in
Dearborn.
The event drew together students, government officials, entrepreneurs,
utility executives, auto executives and activists for keynotes and breakout
panels on everything from more efficient appliances to powering the future
with novel technologies.
Iraq considers $200 million plan to reverse oil-output decline
A high-level committee set up by Iraq's oil ministry to look into the
causes of a sharp fall in southern oil production has presented a $200
million
accelerated action plan to try to reverse the trend amid expectations of a
more than 100,000 b/d fall in production capacity from the south in 2009.
Mexico to export green electricity to L.A.
The electricity sold to Los Angeles will be generated at the Cerro Prieto
geothermal power plant in Mexicali, the capital of Baja California state.
New Fuels for Fuel; Making it from Waste
Enerkem, a Montreal maker of biofuels and green chemicals, says it's
nearly ready to start cranking out second-generation biofuels on a
commercial scale.
NYMEX crude firms, waiting for Washington stimulus package
NYMEX March crude futures on CME's Globex system were 72 cents higher at
$40.89/barrel Monday, with the market continuing to gravitate around the
$40/b
level while waiting for word on a stimulus package and bank bailout plan
from
Washington.
Obama says renewable energy key to economic future
U.S. President Barack Obama on Monday pushed for more
investment in solar and wind energy, saying the country that can make
renewable energy sources price-competitive with traditional fossil fuels
will become the economic superpower of the future.
Obama's Early Days
Tough economic times won't obviate the need for new environmental controls.
That's the message coming from Washington now that President Obama has taken
two critical steps in the battle to combat global warming.
Rep. Forbes proposes New Manhattan Project for energy
Rep. J. Randy Forbes, R-Va., has reintroduced legislation that would
challenge the United States to reach 50% energy independence in 10 years and
100% energy independence in 20 years.
Role Of Climate Change In Disease Spread Examined
Ever since scientists first proposed that our planet might be
experiencing widespread climate change, concerns have been raised about its
implications for the spread of arboviruses — viruses carried by arthropods
such as mosquitoes, midges and ticks. However, while alterations in
temperature and rainfall are important factors in making new territory
hospitable to an invading arbovirus, many other forces also play significant
parts in new patterns of viral emergence.
RPS; Certainty Now
Renewables have been positioned in such a prominent place in the new
Administration’s broadly outlined national recovery and
transformation plan that, unwittingly, they may be setting themselves
up to provide disappointments to their friends, and to become
flashpoints of resistance for their non-friends. The debate over a
Federal Renewable Portfolio Standard (“RPS”) may be the first such
point of ignition. If renewables are to really lead in replacing job
loss, displacing foreign oil, and turning back the ocean of global
warming, the regulatory climate has to be right for them to do so.
Smart Grid Preparedness, a Technical View from the Systems Side
With Smart Grid technologies driving the need to enhance
and replace existing systems and infrastructure, now is the time to make
sure an end-to-end view of the systems' requirements are analyzed to
insure the "smart" benefits can be truly realized after the systems are
implemented.
Steel not worried that GE and Caterpillar CEOs advising Obama
President Barack Obama Friday named members to an advisory board to help
oversee his economic stimulus package, including General Electric CEO Jeff
Immelt and Caterpillar CEO Jim Owens. And while US steel industry backers
may
not be thrilled with such appointments, they are not worried about Buy
American provisions in the legislation being threatened.
The First Major Algae Biofuels Industry-Building Event!
A unique forum where leading carbon generators, algae
developers, biorefiners, financiers, investors, transportation
companies and other key players in the algae biofuels value chain
will connect and share...
- Their activities in support of the emerging algae biofuels
industry
- The key technical, financial and economic issues they are
addressing
- The relationships they need to establish to support the
value chain
The Great Depression, Just the Facts Ma’am
Contrary to what you might believe, the
Great Depression of the 1930s was not a decade-long era of economic
decline. Rather, the Great Depression was made up of two distinct
economic slumps – August 1929 through March 1933 and May 1937 through
June 1938.
The Power of Energy
Science is not a static field. While scientific methodology has
remained constant, at any time in the last few thousand years there
has been a prevalent paradigm (shared set of assumptions) which was
used in determining what was scientifically legitimate, and what was
not. A layperson's view would be that a paradigm explains the world to
us, and helps us to predict its behavior. One of the interesting and
challenging aspects of our times is that we are now going through a
phenomenally profound change in our scientific paradigm.
Turning livestock waste into energy can save the farm and save the
planet
Where others see simply manure, Danny Kluthe smells money.
Long before President Barack Obama promised the country that "we will harness the sun and the winds and the soil," Kluthe already had yoked the power of pig poop.
U.S. Leaders Support Law of the Sea Treaty
Newly appointed U.S. leadership is promising to join a longstanding
international agreement that oversees ocean resource and pollution disputes.
During last week's Cabinet confirmation hearings, leaders in both the U.S.
Senate and the administration of newly elected President Barack Obama
conveyed support for the treaty, known as the
United Nations Law of the Sea Convention, suggesting an end to decades
of dispute over U.S. accession.
US Senate advances energy-laden stimulus bill
In an important procedural victory for US President Obama and his
Democratic allies in Congress, the US Senate voted Monday to advance a massive
economic stimulus bill that would provide billions of dollars to modernize
the
electricity grid and to develop a host of cutting-edge energy technologies.
US urged to save forests to curb climate change
The United States needs to take the lead in preserving
tropical forests in the fight against climate change, a coalition of
lawmakers, corporate chiefs and environmentalists said on Monday.
Deforestation accounts for 20 percent of the carbon emissions that spur
global warming, members of the Avoided Deforestation Partners coalition told
a Capitol Hill forum.
Windmill study shows impact on bat populations
Birds are not being harmed by turbines though some bat
populations are being affected, the Pennsylvania Game Commission and
wind-energy companies indicate in their first annual report.
February 6, 2009
‘Green’ Energy a Tiny Share of Stimulus
The share proposed to be spent on long-term “green”
investments in the the stimulus package is surprisingly small. Nearly a
third of the $550 billion Congress is set to allocate in direct spending is
called “green,” including money to modernize electricity transmission and
experiment with a “smart grid.” But just $8 billion is destined for
renewable power and electricity-related spending, according to an analysis
by FBR Capital Markets.
100 Business + Organizations Offer President Obama Recommendations for
First Steps on Climate
In a letter delivered to President Barack Obama on his
first full day in office, 100 businesses and organizations - joined by 19
individual activists – outlined recommendations for administrative actions
that the new White House can take immediately to address climate change:
Advancing Coal
Perhaps the largest coal-fired power plant now under construction, the
1,600-mega¬watt Prairie State Energy Campus in down¬state Illinois, might
become a model for other successful build-outs as the electrical industry
negotiates the green transition. The goal is to advance coal generation by
making it cleaner.
Antarctic Ice Sheet Collapse May Swamp U.S. Coasts
North America's coastlines would be hit especially hard
by rising sea levels if the huge West Antarctic Ice Sheet collapses and
melts in a warming world as some experts fear, scientists said on
Thursday.
Arctic Storms Seen Worsening; Threat To Oil, Ships
Arctic storms could worsen because of global warming in
a threat to possible new businesses such as oil and gas exploration,
fisheries or shipping, a study showed on Wednesday.
Be Careful What You Wish For, Chinese Currency Revaluation May Hurt
America
There is mounting evidence that a freely floating Chinese currency will
actually drop in value and make Chinese exports cheaper. In his confirmation
hearings, Tim Geithner espoused the U.S. “Conventional Wisdom” that China is
an unfair trade competitor because it manipulates its currency down in value
so that its exports are artificially cheap.
Defiant Argentine Glacier Thrives Despite Warming
Climate change appears to be helping Argentina's mighty Perito Moreno glacier, which is thriving in defiance of
the global warming that is shrinking its peers.
Demand for solar and wind power drops as banks stop financing related
projects
Wind and solar power grew at a blistering pace in recent
years, and that growth seemed likely to accelerate, especially in the
United States under the green-minded administration of the new
president, Barack Obama.
EPA Finds Fault With Planned Coal-Fired Power Plant - South Dakota Must
Resubmit Air Quality Permit
The Environmental Protection Agency has overturned a
permit for the proposed $1.6 billion Big Stone II coal-fired power plant
in South Dakota. The EPA told the South Dakota Department of Environment
and Natural Resources its air quality permit for the Big Stone II plant
near Milbank, S.D., was deficient and needed to be resubmitted within 90
days
Falling fuel costs bring lower power prices; Compete Coalition
A sharp reduction in US power prices that was tied to lower fuel costs
"should put to rest the shallow arguments suggesting that competitive
markets
aren't working because electricity prices increase," the Compete Coalition
said Wednesday.
Forester; Overgrowth of ponderosa pines endangers water, forests
Arizona's ponderosa pine forests have been allowed to
grow so dense that they are primed to spawn immense wildfires that
threaten not just trees and wildlife but watersheds, a Northern Arizona
University forestry expert said Jan. 20
Georgia Bill Proposes Moratorium On New Coal Plants
Georgia legislators introduced a bill on Tuesday that,
if passed, could limit utility use of certain Appalachian coal beginning
in 2011 and place a moratorium on new coal-plant construction in the
state.
Global Warming Forecast to Delay Ozone Layer Recovery
Increasing greenhouse gases could stall the recovery of stratospheric
ozone in some regions of the Earth, according to new research by a team from
Johns Hopkins University. The scientists warn that increased rates of skin
cancer in those regions might result.
Global Warming Serious, Say Americans
Many people in
the United States regard climate change as a real challenge, according
to a poll by Rasmussen Reports. 64 per cent of respondents say global
warming is very or somewhat serious. While 41 per cent of respondents
say global warming is caused mostly by human activity, 44 per cent
believe it is part of long-term planetary trends.
Government Cancels Leases For Utah Oil, Gas Drilling
The U.S. Interior Department on Wednesday canceled
leases held by energy companies for oil and natural gas drilling on
130,000 acres of federal lands in Utah.
Honda Sees Insight Hybrid Below $20,000 In U.S.
Honda Motor Co said on Thursday it wants to price the
new Insight -- its first real attempt at selling gas-sipping hybrid cars
in big volumes -- below $20,000 in the U.S. market.
Inbox 020509
an "artificial vision system" being developed by a
Spain-based company, Tecnalia, to improve the recycling of
electronic scrap.
Indian Ocean Linked To Australian Droughts
Droughts in Australia have traditionally been linked to
El Nino events in the Pacific Ocean, but a new study says the key driver
of major droughts has been a warming and cooling cycle in the Indian
Ocean.
Kentucky Utilities to pay to resolve clean air violations
Today’s settlement sets the most stringent limit for
nitrogen oxide emissions ever imposed in a federal settlement with a
coal-fired power plant, said Catherine McCabe, acting assistant administrator for EPA’s
Office of Enforcement and Compliance Assurance.
La Niña is expected to continue into Northern Hemisphere Spring 2009
La Niña continued
during January 2009, as evidenced by below-average equatorial sea
surface temperatures (SST) across the central and east-central Pacific
Ocean
Making CO2 Useful
Technology that promises to economically sequester carbon dioxide by turning
it into fuel is poised to make the move from research labs to the
development stage.
Monthly Economic and Fed Policy Report
View summary of key economic indicators
More declines in US industrial gas demand are coming; Barclays
"Anecdotal evidence suggests that the most natural gas-intensive
industries have scaled down operations, in some cases nearly in half,"
Barclays said Tuesday in its weekly gas update.
Multiplier Effect
The multiplier effect demonstrates the impact that reserve requirements set
by the Federal Reserve have on the U.S. money supply.
New Study Shows Climate Change Largely Irreversible
A new scientific study reaches a powerful conclusion
about the climate change caused by future increases of carbon dioxide:
to a large extent, there’s no going back. The pioneering study shows how
changes in surface temperature, rainfall, and sea level are largely
irreversible for more than 1,000 years after carbon dioxide (CO2)
emissions are completely stopped. The authors found that the scientific
evidence is strong enough to quantify some irreversible climate impacts,
including rainfall changes in certain key regions, and global sea level
rise.
Obama Green Energy May Lag Growth Pace of Bush Years
President Barack Obama may find it harder to double
renewable power capacity in three years during a financial crisis. The
U.S. had renewable-energy generators capable of producing 28,721
megawatts of power in 2007. Doubling that may cost $150 billion. It
costs about $2 million to install 1 megawatt of wind power.
Partnership helps communities increase recycling
The program provides educational resources and materials to communities to
improve curbside recycling collection and reviews the impact on the
effectiveness of their recycling programs. To date, 42 communities have
partnered with the CVP, achieving, on average, a 23% increase in their
curbside recycling rate and an 18% increase in participation.
Recycling program collects 9.6% more batteries in 2008
It recovered 6.9 million pounds of rechargeable batteries in 2008. Several
factors led to the increase, including the RBRC expanding it collection
program to include a new battery chemistry, said Carl Smith, CEO of the RBRC.
Renewable Energy Project Finance; Cause for Optimism Amidst Turmoil
Financing conditions have changed so drastically, and
quickly, in the U.S. during the past few months that renewable energy
industry professionals may already be looking back at the recent years'
phenomenal growth rates with a sense of nostalgia.
Report Says Cost of Rapid CO2 Cuts 'Manageable'
Rapidly reducing greenhouse gas emissions over the next
decade to curb global warming could cost less than 1 percent of world
gross domestic product by 2030, according to a report sponsored by the
World Wildlife Fund and produced by management consultants McKinsey & Co
Republicans Urge Obama To OK Offshore Oil Drilling
The Republican lawmakers asked Obama to allow a 5-year plan proposed at the
very end of the Bush administration that would expand offshore drilling to
go forward.
Small Business and Middle Market Companies Believe Recession Will Last
Beyond 2009
According to Keith Leggett Senior Economist at American Bankers Association,
“ABA’s Economic Advisory Committeeisforecasting that we will see the first
stages of recovery in the second half of 2009. This is a clear indication
that there is a large level of pessimism amongst small businesses.”
Tax Reform and Community Based Renewable Energy
The federal tax credits for renewable energy have been a
major barrier to widespread ownership of renewable energy. The
production tax credit, for example, can only be taken against passive
income, a type of income that very few of us actually earn.
The Financial Crisis, Bad and Getting Worse, but Put Away that D-word
It began as the "subprime crisis" in 2007, and then mushroomed into a
full-blown global recession in 2008. And still, despite mammoth government
intervention, the bad news keeps getting worse. Are we now teetering on a
precipice, ready to plunge into another Great Depression? Can the latest
proposals pull the economy out of its nosedive?
U.S. And China in Race to the Top of Global Wind Industry
Global wind energy capacity grew by 28.8% last year, even higher than the
average over the past decade, to reach total global installations of more
than 120,800 MW (120.8 GW) at the end of 2008. Over 27,000 MW (27 GW) of new
wind power generation capacity came online in 2008, 36% more than in 2007.
U.S. Nuclear Power Plants Achieved Near-Record Level of Electricity
Production in 2008
U.S. nuclear power plants last year continued their decade-long trend of
reliable electricity generation, eclipsing all other electricity sources
with an industry-average capacity factor of more than 90 percent, according
to preliminary data on 2008 operations.
U.S. Renewable Energy Production Increases by Eight Percent Over Past
Year; Accounts for More than Ten Percent of Domestic Energy Production
According to the latest issue of the "Monthly Energy
Review" by the U.S. Energy Information Administration, production of
renewable energy between January and October 2008 was eight percent
higher compared to the same time period in 2007.
U.S. Senators Debate Alternative Energy Tax Breaks
The Senate Finance Committee on Tuesday began debating
some $31 billion in tax credits and financial incentives to boost
alternative energy supplies and promote energy-savings steps as part of
the Obama administration's much bigger U.S. economic recovery plan.
U.S. Stimulus Would Cut Climate Emissions; Report
Energy efficiency and conservation proposals in
President Barack Obama's original economic stimulus plan would cut
climate-warming carbon dioxide emissions by 61 million tonnes a year, a new report says.
US Credit Card Late Payments Hit Record Highs, Chargeoffs Spike
As anticipated, the negative chargeoff results were offset by lower funding
costs helping to maintain excess spread cushions for credit card ABS. In
addition, monthly payment rates snapped back from the prior month's
four-year lows although they continue to exhibit slowing trends on
year-earlier comparisons.
US Democrats target Bush administration 'midnight regulations'
Several Democratic lawmakers said Wednesday that Congress should reverse
a host of controversial regulations that the Bush administration issued in
its
final days in office, including rules pertaining to coal mining and
oil-shale
development.
US Mortgage Rates Climb, But Still Remain Very Affordable
Freddie Mac (NYSE:FRE) yesterday released the results of its Primary
Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM)
averaged 5.25 percent with an average 0.8 point for the week ending February
5, 2009, upfrom last week when it averaged 5.10 percent. Last year at this
time, the 30-year FRM averaged 5.67 percent.
US nuclear industry calls for loan guarantee program shake-up
A nuclear industry official said Tuesday that the US Department of Energy
has done such a poor job of running a program to provide federal loan
guarantees to clean-energy projects that it may be time to move the program
to
another agency that is better equipped to handle the job.
Wheelabrator to build first U.S. waste-to-energy facility
Wheelabrator Technologies Inc. has been tapped to build the first new
U.S. waste-to-energy facility in more than a decade.
Wind Installations Continue To Break Records Across the Globe
According to new a new report from the Global Wind
Energy Council (GWEC), as of 2008 the U.S. has become the world's largest
player in terms of total wind power installations.
World Running Out of Weapons to Fight Superbugs
People are dying from "superbugs" because our antibiotic
arsenal has run dry, leaving the world without sufficient weapons to
fight the ever-changing bacteria, warn infectious disease researchers at
the University of Texas Medical School at Houston.
February 3, 2009
Banking Active in US, Europe, Financial Services Active in US, Asia
Credit default swaps for the banking and financial services sectors saw the
most active trading in the US, led by Citigroup, SLM Corporation, Bank of
America and Capital One Bank according to GFI, a leading inter-dealer broker
for credit derivatives. The insurance full line sector rounded out the list.
Big Boost to Alternative Energy, Clean Tech If Obama Stimulus Passes
Senate
The House of Representatives passed President Obama’s
“American Recovery and Reinvestment Act” Wednesday evening, legislation
that it's projected can create some 4 million jobs—as many as half a
million of them in the “green” sector— at a time when the US economy is
ailing.
Biofuels more harmful to humans than petrol and diesel, warn scientists
Some biofuels cause more health problems than petrol and diesel,
according to scientists who have calculated the health costs associated with
different types of fuel.
Climate change might be altering waters along US west coast
The spectre of an ocean floor littered with dead shellfish, rock fish, sea
stars and other marine life off the Oregon coast spurred Mark Snyder, a
climate change expert, to investigate whether California's coast faced a
similar calamity.
It could, the University of California Santa Cruz earth scientist said,
citing climate change, which some scientists believe is responsible for
stronger and more persistent winds along the coast. There's no debate that
windier conditions drive more upwelling of nutrient-rich deep ocean waters.
Crude futures weaker on poor demand outlook, stay above $40b
Crude futures fell in early European trading Monday, with bearish
sentiment from macroeconomic data and a poor demand-side picture continuing
to
weigh down on the energy futures complex.
Oil Price Slump A Challenge To Obama Energy Agenda
A slide in oil prices may be good for consumers battered
by the U.S. economic slowdown, but it could pose a challenge for
President Barack Obama's ambitious plan to revolutionize America's
energy use.
Provisional International Banking Statistics, 3rd Qt 2008
In the third quarter of 2008, cross-border activity decreased significantly
on a consolidated basis when measured at current exchange rates and taking
into account off-balance sheet exposures.
Push For Climate Deal As Obama Lifts Hopes
Denmark's prime minister called on rich and poor
countries alike to commit to big cuts in greenhouse gas emissions, ahead
of key year-end talks on a new climate treaty he will host in
Copenhagen.
Hopes that a deal may be possible have increased since the election of what
many see as a "green" U.S. president and business is increasingly
enthusiastic about the opportunities thrown up by climate change.
Rising Sea Salinates India's Ganges; Expert
Rising sea levels are causing salt water to flow into
India's biggest river, threatening its ecosystem and turning vast
farmlands barren in the country's east, a climate change expert warned
Monday.
Senior Loan Officer Opinion Survey on Bank Lending Practices
About 65 percent of domestic banks reported having
tightened lending standards on commercial and industrial (C&I) loans to
large and middle-market firms over the past three months. This
percentage was down from the reported tightening in the October survey
but still above the previous peaks reported in 1990 and 2001.
Spokesman says US refiners 'optimistic' over agreement with union
Rolling 24-hour extensions of the current three-year contract, which was
scheduled to expire at 12:01 a.m. Sunday morning, have continued, Baker said.
Refineries potentially affected by any labor walkout represent close to
64% of total US refining throughput, according to Baker.
U.S. Coalition for Advanced Diesel Cars Launches to Promote Clean Diesel
Technology’s Fuel Efficiency and Environmental Benefits
The U.S.
Coalition for Advanced Diesel Cars launched today to promote the energy
efficiency and environmental benefits of clean diesel passenger vehicles
in the U.S. marketplace. The Coalition will urge federal, state and
local legislators and regulators to support technology-neutral public
policies helping to foster energy independence, reduce CO2 emissions and
create jobs in this alternative powertrain
technology.
US coal state senators press new DOE chief to revive FutureGen
Six US senators from Midwest coal states, including Assistant Majority
Leader Richard Durbin, on Thursday asked Energy Secretary Steven Chu to
revive
FutureGen, a $1.8-billion government-industry project designed to
demonstrate
the ability to capture and store CO2 emissions from a coal-fired power
plant.
US Senate Majority Leader expects stimulus bill to be approved
US Senate Democratic Leader Harry Reid said Thursday he believes the
chamber will pass a massive economic stimulus package next week, despite
continued Republican opposition to the measure.
Utility APS eyes new renewables, nuclear to meet resource needs
Arizona Public Service unveiled a long-range resource plan that calls for
spending about $18 billion to add renewable, nuclear and energy efficiency
capacity to meet the Phoenix-based utility's needs through 2025.
Wal-Mart Testing New Hybrid Trucks For Its Fleet
Wal-Mart Stores Inc said on Monday that it will test two
new types of hybrid trucks and two types of trucks powered by
alternative fuels as the world's largest retailer tries to make its
trucking fleet more efficient.
Water chief; Time to bite the bullet on water supply
Tapping the ocean and seeding clouds hold promise as
ways to bring more water to Arizona, but the state needs to make tough
choices to ensure a sustainable supply, the state's top water official
told lawmakers Jan. 22.
World Wetlands Day; An Australian Wetland in Crisis
"This study shows just how much the Howard Government and Malcolm
Turnbull as environment minister took their eye off the ball when it came to
the management and protection of our internationally recognized wetlands,
including the Coorong," said Garrett. "It is a damning indictment of their
failure to act in the face of drought and dangerous climate change."
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