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| Lawmakers Push for Big Subsidies for Coal Process |
Even as Congressional leaders draft legislation to reduce greenhouse gases linked to global warming , a powerful roster of Democrats and Republicans is pushing to subsidize coal as the king of alternative fuels, says the New York Times.
Richard A. Gephardt, a former Democratic House majority leader, has been hired by Peabody Energy to help make the case for liquefied coal. Senator Jeff Bingaman, Democrat of New Mexico, is drafting a bill to promote renewable fuels, but not liquefied coal, for electricity.
Prodded by intense lobbying from the coal industry, lawmakers from coal states are proposing that taxpayers guarantee billions of dollars in construction loans for coal-to-liquid production plants, guarantee minimum prices for the new fuel, and guarantee big government purchases for the next 25 years.
With both House and Senate Democrats hoping to pass “energy independence” bills by mid-July, coal supporters argue that coal-based fuels are more American than gasoline and potentially greener than ethanol. Full Story  |
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Big Oil Turning to Big Gas
As competition for scarce petroleum resources intensifies and as oil-rich nations limit access to reserves, the multinational integrated majors are beginning to evolve from Big Oil into Big Gas.
Companies like Chevron Corp. (CVX), Exxon Mobil Corp. (XOM), ConocoPhillips ( COP) and Marathon Oil Corp. (MRO) are positioning themselves through multibillion-dollar investments in the Middle East , West Africa and Alaska to dominate an emerging gas market. New techniques in natural gas liquefaction - necessary to transport seaborne cargoes - and control over distribution in developed world markets still give these companies an edge over Asian competitors and budding national oil champions. In the short term, Western companies can also extract handsome profits from U.S. gas operations, taxed at relatively low rates compared to production in places like Venezuela and Russia , where nationalist governments are getting a bigger share of the revenue pie.
But challenges remain, especially from state-owned competitors such as OAO Gazprom, which enjoys a virtual monopoly over Russia's immense gas reserves and has thumbed its nose at Western overtures for the joint development of an enormous gas and condensate field in the Barents sea. The creation of an effective gas cartel along the lines of the Organization of Petroleum Exporting Countries could also tilt the balance in favor of producing nations. Rising costs are making the development of complex LNG infrastructure pricier.
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Shareholders Exert Pressure for Climate Change Plans
At ConocoPhillips's May 9 shareholders' meeting, the temperature in the room was a notch cooler than it could've been, thanks, ironically, to global warming.
Call it climate change détente. About a month earlier, investors including Trillium Asset Management Corp. and North Carolina Retirement Systems withdrew a proxy resolution calling for the oil and gas titan to explain how it will develop renewable energy sources. The move -- which headed off a clash between shareholders and the Houston -headquartered behemoth -- came in response to the company's announcement that it would support a mandatory national framework to address greenhouse gas emissions, and that it joined a business- environmental group dedicated to new laws curbing emissions. The investors pulled their ballot measure the same day the company made the announcement.
"The resolution has done its job," said Shelley Alpern , director of social research and advocacy at Trillium, a "socially responsible" investment advisory firm with about $1 billion under management. A withdrawal by investors, Alpern said in an interview, reflects well on the company: "It indicates a responsiveness and a willingness to do dialogue with stakeholders," she said.
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Active Hurricane Season Predicted
Adding to the chorus of forecasters calling for an active Atlantic hurricane season, experts at the National Oceanic and Atmospheric Administration's (NOAA) Climate Prediction Center said Tuesday that they are projecting a 75% chance that the 2007 Atlantic hurricane season will be above normal -- showing the ongoing active hurricane era remains strong.
"For the 2007 Atlantic hurricane season, NOAA scientists predict 13 to 17 named storms, with seven to 10 becoming hurricanes, of which three to five could become major hurricanes of Category 3 strength or higher," said Conrad C. Lautenbacher, undersecretary of commerce for oceans and atmosphere and NOAA administrator.
NOAA said an average Atlantic hurricane season brings 11 named storms, with six becoming hurricanes, including two major hurricanes, while some other forecasters put the seasonal long-term averages at 9.6 named storms, 5.9 hurricanes and 2.3 intense hurricanes.
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Save The Date – National Association of Power Engineers Meeting
July 12, 2007 - Saving Energy, Saving Jobs
Energy efficiency for lighting, compressed air, heating and natural gas cooling systems, along with the applications of House Bill 1331-6 – The Energy Policy Act of 2005
All meetings are held at 12 noon at Citizens Gas, 2020 North Meridian Street, Indianapolis, IN.
For more information please contact Rick Ratliff at DLR Mechanical at (317) 253-6822. |
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