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Ted Nace's Posts

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CCS gets slammed

Hawkins to industry: ‘deal with it’

Greenpeace's body slam of the core "clean coal" technology known as carbon capture and storage (CCS) may take a while to sink in. Not so long ago, groups like NRDC were writing glowing accounts of the technology, and it's safe to say that much of the environmental movement is still sipping the Kool-Aid. So it was heartening to read that at least one person attending the Carbon Capture and Sequestration conference in Pittsburgh seems to have her head screwed on straight and her ear to the grassroots: Becky Tarbotton of Rainforest Action Network. Becky writes: I woke up this morning …

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Minnesota to Bill Gates: No new coal!

Legislators protest Gates family’s stake in Big Stone II

Bill Gates. Unlike his bridge buddy Warren Buffett, who recently canceled six planned coal projects, Bill Gates is still pushing coal. Cascade Investment Management, his personal investment company, is the largest stakeholder (9 percent) in Otter Tail Corporation, the lead sponsor of the controversial Big Stone II coal project. Last week, eight Minnesota legislators, led by Rep. Jean Wagenius (DFL) of Minneapolis and Sen. Ellen Anderson (DFL) of St. Paul, wrote to Gates, asking him to visit Minnesota in order to investigate green investment opportunities that would "align the values of your foundation with your investment strategy." In April, NASA's …

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Blocking Ferrari-ready driveways

Maine becomes third state to pass tough coal law

Yesterday, Maine Gov. John E. Baldacci signed LD 2126, "An Act To Minimize Carbon Dioxide Emissions from New Coal-Powered Industrial and Electrical Generating Facilities in the State." The law, which was sponsored by Rep. W. Bruce MacDonald (D-Maine), requires the Board of Environmental Protection to develop greenhouse gas emission standards for coal facilities. It also puts a moratorium in place on building any new coal plants until the standards are developed. Three states (Calif., Wash., and Maine) as well as New Zealand now have laws effectively blocking new coal plants that don't meet a carbon dioxide emission standard roughly equivalent …

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The education of Warren Buffett

Why did the guru cancel six coal plants?

One of the biggest climate stories of 2007 never made it to the business pages. It's about how Warren Buffett, with no fanfare, quietly walked away from coal, cancelling six proposed plants. Buffett used to love coal. His involvement with it began when Berkshire Hathaway bought MidAmerican Energy Holdings in 1999. MidAmerican was a big operator of coal plants, and with natural gas prices edging toward a huge leap upwards -- bringing coal back into favor -- it appeared to be a typically savvy Buffett move. In 2006, Buffett picked up another utility, PacifiCorp, which includes Rocky Mountain Power and …

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Out of the frying pan ...

Dynegy targeted by Sierra Club in new anti-coal campaign

Check out Clean Up Dynegy, the brand new website for the Sierra Club's campaign against the company Sierra calls "America's Coal-Fired Polluter Number 1." The campaign is significant in that it represents the first attempt by anti-coal forces to single out a single company on a nationwide basis. It kicked off in late February with mass call-ins to Dynegy headquarters originating from twenty states -- "thousands of calls," according to the Sierra Club. Already, the campaign seems to have hit a nerve, with Dynegy's CEO, Bruce Williamson, lashing out that his company is being unfairly picked on. It probably didn't …

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The Big Lump gets thumped

King Coal’s year of rejection by banks, judges, and a lot of other folks

Earth Policy Institute just released this revelatory chronology of really sad, horrible, and depressing events in the life of the coal industry since February 2007. What's next -- will Santa be switching to lumps of dirt? Feb. 26, 2007: James Hansen, director of NASA's Goddard Institute for Space Studies and a leading climate scientist, calls for a moratorium on the construction of coal-fired power plants that do not sequester carbon, saying that it makes no sense to build these plants when we will have to "bulldoze" them in a few years. Feb. 26, 2007: Under mounting pressure from environmental groups, …

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Fossil Fools Day roundup

Activists worldwide target coal plants and banks

Rainforest Action Network's Matt Leonard provides this roundup of Fossil Fools Day actions targeting coal plants, coal minings, and the banks funding it all. Rising Tide (North America, U.K., and International units) spearheaded these efforts and others. Cliffside: 8 Arrested as North Carolina residents shut down construction at Cliffside coal plant At 6:30 a.m., North Carolina residents locked themselves to bulldozers to stop the construction of Duke Energy's massive Cliffside coal-fired power plant being built 50 miles west of Charlotte, N.C. "In the face of catastrophic climate change, building a new coal plant is tantamount to signing a death sentence …

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Poof! 132 coal plants disappear

The magic mouse of Guy Caruso

Want to kill one coal plant? Use a lawyer. Want to kill a hundred? Use a spreadsheet. On March 4, without fanfare, a bureaucrat named Guy Caruso caused 132 coal plants to disappear with a wave of his magic mouse. Caruso is the head of the Energy Information Administration, the division of the U.S. Department of Energy that, well, comes up with information on energy. Sort of like the CIA, but less glamorous. A year ago, the EIA projected [PDF] that electricity use would grow at the rate of 1.5 percent per year through 2030. But on March 4, Caruso told Congress …

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World's dumbest project: Tata Ultra Mega

How a twisted definition is setting up a monumental folly in India

Here is how the World Bank proposes to solve climate change: lend money to build a 4,000-megawatt coal plant in India that will emit 25.7 million tons of carbon dioxide per year. By way of comparison, that's half a million tons more than the worst carbon emitter in North America, the Scherer plant near Macon, Georgia. In a weird distortion of logic, Tata Ultra Mega is considered a Clean Development Mechanism by the organization that administers the Kyoto Protocol. This allows industrialized nations to invest in the plant as an alternative to domestic emissions reductions. The thinking is that since …

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