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Romney’s energy plan dissected: Putting government to work for Big Oil

Mitt Romney's big energy policy proposal, which he will announce today at around 1 p.m. Eastern, was released last night. Lisa Hymas looked at the toplines shortly after it came out (summary: oil oil gas oil); here's a deeper dive.

This is the document that leaked. Note: It could change by the time Romney gives his speech. Perhaps the utility of renewable energy and leading in the green space came to Romney in a dream or something. But given how closely this paper hews to our prediction, I think it's a safe bet to take it as final.

Please note that most of this is links to news articles from the liberal media.

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SEC will require oil companies to disclose payments to foreign governments

This morning the Securities and Exchange Commission voted to put into effect regulations requiring that oil and mining companies report payments to foreign governments. From The Hill (which figured its headline might garner a few extra clicks):

The rules, which were required under the 2010 Dodd-Frank financial reform law, do not appear to contain several provisions that the oil industry sought, including exemptions from the SEC filing mandate if foreign governments prohibit the disclosure.

The law forces SEC-listed oil, natural gas and mining companies to reveal payments to governments [of $100,000 or more] related to projects in their countries, such as money for production licenses, taxes, royalties and other aspects of energy and mineral projects.

It’s aimed at increasing transparency to help undo the “resource curse,” in which some impoverished countries in Africa and elsewhere are plagued by high levels of corruption and conflict alongside their energy and mineral wealth.

The aftermath of a Shell spill in Nigeria. (Photo by SU.)

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U.S. sees worst West Nile outbreak in its history

Last week, we reported that Dallas would spray insecticide from low-flying planes in an effort to curb the mosquitoes that are causing the area's West Nile outbreak. The disease has prompted a state of emergency in the Texas city; 21 people in the region have died from it this year.

Seriously. How gross are these things?* (Photo by Alvesgaspar.)

Nationally, West Nile cases are at three times normal levels -- the worst outbreak ever in the U.S. since the disease appeared in 1999.

So far, 1,118 illnesses have been reported, about half of them in Texas, according to the Centers for Disease Control and Prevention. In an average year, fewer than 300 cases are reported by mid-August. There have also been 41 deaths this year. …

Never before have so many illnesses been reported this early, said [Lyle] Petersen, who oversees the CDC’s mosquito-borne illness programs.

Most infections are usually reported in August and September, so it’s too early to say how bad this year will end up, CDC officials said.

Read more: Climate & Energy

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Mixed blessing: U.S. power demand will stay flat for a while

Beautiful and lonely. (Photo by Nayu Kim.)

In his assessment of why the U.S. led the world in cutting CO2 emissions last month, David Roberts noted that the recession flattened demand for electricity.

A forecast out today suggests that demand will stay flat for some time to come. From FuelFix:

The nation’s power demand will grow by about 1.1 percent [a year] through 2030, Wood Mackenzie analysts projected, instead of the nearly 2 percent growth experienced during past two decades.

In other words, the level of electricity the country was expected to use by 2019 now won’t be reached until 2030, the firm forecasted.

US electricity consumption, 2000-2011U.S. electricity consumption, 2000-2011

Again, the culprit is the economy -- and the impacts won't only be felt by fossil-fuel companies.

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We’ve already used a year’s worth of resources in 2012

The planet in question.

As of tomorrow, humanity is operating in the red for 2012.

See, today is the day that the Global Footprint Network estimates that we've exhausted a year's worth of global resources. If you think of how much energy and resources the planet can replenish in a year, we've used up that amount since Jan. 1. Everything from now until New Year's Eve, then, is us putting it on our credit cards. Or, more accurately, using next year's resources. Even more accurately, some year in the 2030s' resources.

Since 1970, we've been using more resources than can be replenished, meaning we keep going deeper and deeper into the hole. Each year, "Earth Overshoot Day" (which isn't really that great a name) comes sooner.

Read more: Climate & Energy

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California meat company shut down for abusing cows

A perhaps slightly happier cow.

This story is deeply awful. Not unexpected, just awful. From the Los Angeles Times:

The U.S. Department of Agriculture temporarily closed Hanford-based Central Valley Meat Co. after reviewing video footage from the animal rights group Compassion Over Killing, which said it had captured images of torture and intentional cruelty to cows. …

Federal investigators went to California on Friday to review two videos, one running three hours and the other only three minutes. Compassion Over Killing said the footage -- which it said was taken by one of its contractors who held a job inside the plant in June and July -- captured images of cows being jabbed, hit, electrically shocked and sprayed with hot water.

Gawker has a copy of the video, which I couldn't bear to watch. I also recommend steering clear of the comments there.

Read more: Food

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Scoop: A preview of Romney’s energy plan

Last night, Mitt Romney announced that he plans to release his energy plan tomorrow. He wouldn't tell the crowd at his fundraiser what was in it, because "we have members of the media here right now."

Tough luck, Mitt. We happen to have sussed out exactly what your energy plan contains. How'd we get this massive scoop? None of your business. Let's just say that we have our sources.

Mitt RomneyMitt Romney at Holland State Park, June 19, 2012, in Holland, Michigan.

Oil
First and foremost, Romney will call for drilling everywhere. Literally everywhere. He will propose a bill that mandates an exploratory well be drilled within every square mile area of America. Actually two: one for oil and one for natural gas. Actually, three: oil, gas, and coal. And maybe one for kryptonite. The bill is expected to sail through the House.

Romney will also propose a bill that provides a financial incentive for businesses to conduct research and development into additional ways in which to use oil. Can oil replace a fax machine? Maybe. Can you use oil as wiring in an office? Only one way to find out. This bill will be named "The 2013 Anti-Terror Job Creation Act," and will be introduced on the floor by Rep. Fred Upton (R-Mich.). It will simultaneously be introduced in Times Square by Upton's niece, Kate. (She is actually his niece.) It is expected to be passed by the House on party lines and to receive public support broken down on gender lines.

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As New York nears fracking decision, both sides take to the airwaves

Earlier this week, CBS reported that New York state will roll out new guidelines to allow fracking sometime after Labor Day. It's a vague story, to be sure, but it meshes with reports from late June about fracking companies getting an early peek at the restrictions.

Existing fracking regulations. Click to embiggen.

There's another reason to believe a rule is imminent: both pro- and anti-fracking groups have taken to the airwaves along the state's southern border with Pennsylvania. That's the region most likely to be cleared for new drilling, sitting on the northern rim of the natural gas-permeated Marcellus shale.

The Times reports on the advertising battle:

Two coalitions of landowners and businesses that support hydrofracking began a new advertising campaign last week, arguing that fracking would be an important source of new jobs and economic activity. Those groups are running an advertisement in newspapers in the Southern Tier, as well as 30- and 60-second radio ads in Albany and the Southern Tier, that focus on President Obama’s support for expanding natural gas production; the ads are scheduled to continue for several weeks.

The radio advertisements include Mr. Obama saying, at an appearance in Cincinnati last month, that “there are a lot of folks right now that are engaging in hydraulic fracking who are doing it safely.”

“We agree with you, Mr. President,” a voice says. “Governor Cuomo, please listen to the experts: issue clear, statewide guidelines for safe natural gas development now.”

Read more: Climate & Energy

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Possibly on the GOP convention guest list: Hurricane Isaac

Just northeast of Venezuela on this map, you'll see a smear of red. That's Tropical Storm 9. In a day or two, it will be Hurricane Isaac.

On Sunday, the Tampa Tribune ran a column from the head of the University of Georgia's Atmospheric Sciences Program considering how climate change will affect the heavily populated coastal city. On hurricanes in particular, he wrote:

The Tampa area has been spared a direct hit by a major hurricane in recent years, but it is not a question of "if" a hurricane will hit but "when." While the literature is still emerging on climate change and hurricanes, a recent study by NOAA scientists suggests that as the climate system warms, major hurricanes -- Hurricane Katrina or greater -- may be less frequent but more intense. Ocean temperatures are rising as well, and warm water is the fuel for these storms. Stronger storms coupled with elevated sea level clearly means a greater inland storm-surge hazard.

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New fuel-efficiency standards coming any day now — and not a day too soon

A car, going green. (Photo by dalee.)

Last week, the EPA and the National Highway Traffic Safety Administration announced a delay in the release of the government's new fuel-efficiency standards. The rule was supposed to come out last Wednesday; now its release date is to be determined.

The Financial Times explains what is expected of the new standards:

If, as expected, the new rules reflect draft standards published last year, they foresee a near-doubling of US-made cars’ average fuel efficiency by 2025 from 27.5 miles per US gallon at present to 54.5mpg, under test conditions.

Mr Obama set out the plan in July last year, following an agreement with 13 leading carmakers to support the new standards, which he described as “the single most important step we’ve ever taken as a nation to reduce our dependence on foreign oil”.

The official assessment of the environmental impact of the new regulations, published by the US National Highway Traffic Safety Administration last month, shows that the changes could cut the country’s road fuel demand by up to 1.19tn gallons over 2017-60, a reduction of 18 per cent from the level if the rules were not imposed.

When the new standards were announced, auto manufacturers came out in support of the efficiency increase.

Read more: Uncategorized
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