After a meeting today of the G8 and leading developing countries, the two groups finally said they shared a “joint vision” for action on climate change. But the statement made no mention of any specific target for cutting emissions, and gave no baseline date from when the cuts might begin. Yesterday the G8 called for … Read More
energy policy
Oil-Backed Senators Push Coastal Drilling
You scratch my back and … The latest moves to ease restrictions on offshore drilling off the US coast is being pushed by 17 Republican senators who have received $3 million total in campaign contributions from individuals and political action committees affiliated with the oil and gas industry since January 1, 2007. The Republican energy … Read More
The answer is blowing in the wind
Two decades from now Americans could get as much electricity from wind turbines as from nuclear power plants, according to a new government report. The report, a collaboration between the Energy Department research labs and industry, concludes wind energy could generate 20 percent of the nation’s electricity by 2030, about the same share now produced … Read More
Democrats Seek Special Tax on Oil Profits
Democrats in the US Senate yesterday called for a temporary special tax on oil companies’ profits and a rollback of $17 billion in oil industry tax breaks as part of an energy package. The proposed 25 percent profits tax would apply just to oil company earnings above what would be considered “reasonable” and only if … Read More
The “two word” key to lower gas prices…
Yesterday, New York’s Senator Chuck Schumer, went on TV to say that there are two words that are the key to lower gas prices: “Saudi” and “Arabia.” According to the state’s Senior Senator, the US should withhold arms deals until the Saudis increase oil production. Schumer seemed to be competing with his junior colleague Hillary … Read More
Kazakhstan Considers Crude Export Tax
Kazakhstan is making the international oil majors twitchy by saying it may impose a crude oil export duty as soon as mid-2008 to stabilise supplies on the domestic market. According to the Deputy Energy Minister Lyazzat Kiinov, the government is due to discuss the energy ministry’s draft proposals tomorrow, and set a date for sometime … Read More
Bush: America Must “Get Off Oil”
Oh the irony. For years President Bush has been intertwined with the oil industry. For years his Administration has done everything in its power to give the industry tax breaks to bolster its profits. Urged by millions around the world to take the lead on climate change, Bush has instead been as sceptical as the … Read More
“What will it take to wake the Senate up”
Great editorial in today’s New York Times, which argues that “One of the major shortcomings in last year’s admirable energy bill was its failure to extend vital tax credits to producers of wind, solar and other renewable fuels. This was entirely the doing of the Senate, which caved in to the oil companies and their … Read More
Democrats Unveil New Energy Tax Package
In the US, Democrats have unveiled a new wide-ranging, $17.5 billion renewable energy and building-efficiency bill even though Republicans have repeatedly blocked their efforts in the Senate. In renewing their push, Democrats are relying on the same financing plan that produced Senate opposition last year, repealing tax breaks granted to oil and gas companies.
Eight hours and 180 degrees
Auto makers finally face higher fuel efficiency standards in the US. Sort of. After years of holding out against anything to do with climate change, President George Bush finally signed into law an energy bill establishing higher fuel-economy standards for new cars and other conservation measures. And then 8 hours later he completely sabotaged states … Read More