Joseph J. Romm's Blog, page 1214

EPA modeling shows American Power Act brings economic and climate benefits

Sens. John Kerry (D-MA) and Joe Lieberman (I-CT) released analysis yesterday of their American Power Act, or APA, by the U.S. Environmental Protection Agency. The EPA's analysis definitively demonstrates that we can reduce our carbon pollution and jumpstart the clean energy economy at a very small net cost to American consumers. This analysis is also consistent with several other studies showing that the American Power Act would create jobs, reduce consumer energy prices, and help the ...

The talking points are better than the speech

Here are the key talking points the White House sent around with the speech:

This economic and environmental tragedy underscores the urgent need for this nation to embrace a clean energy future.  For years, there has been little more than lip service given to the need to end our reliance on fossil fuels.  That failure to move forward with innovative energy policies is evidenced by the Gulf spill. Now it is time to act with the urgency that this challenge requires.This Administration has taken...

NOAA: Warmest May, spring, and Jan-May on record

Fast on the heels of the hottest April and hottest Jan-April in NOAA's record, the National Climatic Data Center has published its monthly "State of the Climate Report."  It pretty much matches the NASA data.

The combined global land and ocean surface temperature was the warmest on record for May, March-May (Northern Hemisphere spring-Southern Hemisphere autumn), and the period January-May.

The warming in May is greatest precisely where climate science suggested it would be — the high ...

Pro-pollution conservatives warn Obama: Do not use this fossil fuel disaster to push for legislation to end our addiction to fossil fuels! - Or else we'll be against it as we always have been and always will be

Big Oil's allies in Congress are terrified that Obama might actually lead the public where it wants to go — off the dirty, unsafe fuels of the 19th century and onto the clean, safe fuels of the 21st century that never run out.

Remember, the pro-pollution conservatives are the same folks who have repeatedly glommed onto the thinnest of excuses to block efforts to end our addiction to oil for decades now — "the economy is bad and the climate bill will hurt the recovery" or "the economy is good ...

Energy and Global Warming News for June 15: Tesla sets IPO terms, expects to raise $185M; A formula for seaweed fuel; Europe's New Wind Power rivals gas

[image error]Tesla Sets IPO Terms, Now Expects to Raise $185M

Electric vehicle startup Tesla Motors has set the terms of its long-awaited IPO and is looking to raise substantially more than it previously estimated. Tesla is looking to sell 11.1 million common shares at between $14 and $16 each, and estimates it will raise as much as $185 million, up from the roughly $100 million it said it hoped to raise back in January.

Tesla will also sell $50 million worth of shares to Toyota in a private placement...

Where's the damn pony? - The BP oil disaster made a major energy bill more likely, but what about a climate bill? And does Obama understand that how he handles oil and climate will define his legacy?

When life gives you lemons … add some lemon dispersant and they'll disappear from sight.  Okay, wrong metaphor.

Obama has suggested many times that he aspires to be a transformational leader like President Reagan, the "great communicator."  Tonight, we may well find out to tonight whether Obama is a Reagan or a Carter.  Does Obama understand that his first term will be defined by how he deals with the oil spill — and the looming threat of $4 gasoline as he runs for re-election (see "Peak oil...

By any other name, "British Petroleum" still smells bad

The NYT reported that the British are now unhappy that some Americans are calling BP "British Petroleum."  So I wrote a humorous column for Salon, which they headlined, "It'll always be 'British Petroleum' to me," though I was kind of partial to "The British Invasion" or "The B's are coming":

Fraser Nelson, the editor of the Spectator, blogged last week that "BP has not — for many years — stood for British Petroleum — you won't find the two words anywhere in its annual report."

Nelson...

Fix the real problem: America's energy vulnerability

A framework for responding to the Gulf Coast oil crisis from CAP's Bracken Hendricks and Tom Kenworthy and Kate Gordon.

The ongoing oil disaster in the Gulf of Mexico has taken an enormous toll on the region's economy. BP's Deepwater Horizon rig gushes as much oil every five to 10 days as the Exxon Valdez released overall—and there's no end in sight. The economies of Louisiana, Mississippi, Alabama, Texas, and Florida will be devastated for decades to come.

Some oil companies, such as...

Rove says Obama should hear from academics on oil spill, then complains he is surrounded by academics

More finger in the wind [in your eye?:] doubletalk, from the master himself, via TP.

In his latest Wall Street Journal column, Karl Rove drudges out the old 2008 campaign attack on President Obama's "present" votes as a state senator in Illinois, and wittily remarks that Obama "may now be president, but at times he appears to be merely present" in dealing with BP's oil spill.

On Fox News, Rove discussed the column and advised Obama to get ideas from academics around the country on dealing ...

The Exxon Valdez spill was in 1989, they still, 21 years later, have not paid the [full] amount awarded in court (a mere $500 million) to those affected and in fact over 8000 people have died while waiting for compensation. Exxon is still in appeals court

Back on April 30, CAP's Dan Weiss wrote, "BP should be required to place its first quarter profit of $5.6 billion in an escrow account" (see "Held up without a gun").  The money would cover claims by those whose livelihoods have been harmed by the disaster and would help pay for quicker action on cleanup.

Some in the UK now claim, "BP's escrow solution is a dangerous idea."  What's dangerous is expecting a major oil company to make timely payments.  CAP's Weiss and Susan Lyon explained...