energy

Wherein I praise the mainstream media from the back of an airborne porcine vehicle

I was bashing on Newsweek the other day, and in general that magazine really is weak on climate/energy issues.

Lest you think I'm just a hater of old media, however, I should point out that Newsweek competitor Time has been doing fantastic stuff on green issues lately, mainly thanks to the tag team of Michael Grunwald and Bryan Walsh.

Black lung is back!

"After a couple of years, something changed. I began to see the type of disease that was only in the textbooks -- this massive fibrosis, where the lung is basically destroyed. It's nothing but black scar tissue. I was incredulous. And it was young people. It wasn't the older miners. I thought, something is wrong here. We decided we'd better do some research."

-- Dr. Edward L. Petsonk, head of the black lung program for the National Institute of Occupational Safety and Health, on the recent resurgence of the disease, once a scourge among coal miners but virtually eliminated in the 1970s

Enviros praise Obama's stimulus package, but call for transit funding to be added

Environmental leaders gave a big thumbs-up to Barack Obama's economic stimulus proposal on Thursday, though they pledged to continue pushing to make the bill as green as possible, particularly on transportation issues.

"This morning, President-elect Obama reaffirmed his commitment to invest in efficiency and clean energy technologies as part of his economic recovery package," said League of Conservation Voters President Gene Karpinski in a statement. "Ready to hit the ground running, he offered specific details that offer great hope for America's future success."

Sierra Club Executive Director Carl Pope was also effusive in a statement: "These initiatives are a win-win for a strong economy and a healthier environment. They will create good jobs here in America and reduce our dependence on dirtier energy sources like oil and coal by promoting the shift to wind and solar power and high-energy-performance, low-carbon cars and buildings."

Said Cathy Zoi, CEO of the Alliance for Climate Protection, "This increased investment in renewables, efficiency, and our energy infrastructure is a crucial first step in boosting our economy, ending our reliance on dirty coal and foreign oil, and solving the climate crisis."

Green jobs: Boon for Native America

A network of over 250 Native American organizations recently issued an important challenge to the Obama administration for any green recovery plan: Look to the First Nations.

The reality is that the most efficient, green economy will need the vast wind and solar resources that lie on Native American lands. This provides the foundation of not only a green low carbon economy but also catalyzes development of tremendous human and economic potential in the poorest community in the United States -- Native America.

As the recent scandalous decision to expand coal strip mining on Black Mesa in northern Arizona revealed, Native Americans have been saddled with a toxic legacy of fossil fuel and uranium development.

According to the statement released by the Native organizations, including Honor the Earth, Intertribal Council On Utility Policy, International Indian Treaty Council, and Indigenous Environmental Network:

Nukes may become troubled assets, ruin credit ratings

Part 1 presented a new study that puts the generation costs for power from new nuclear plants at from 25 to 30 cents per kilowatt-hour -- triple current U.S. electricity rates!

Nuclear plants with such incredibly expensive electricity and "out of control" capital costs, as Time put it, obviously create large risks for utilities, their investors, and, ultimately taxpayers. Congress extended huge loan guarantees to new nukes in 2005, and the American people will be stuck with another huge bill if those plants join the growing rank of troubled assets.

The risk to utilities who start down the new nuke path is also great. A June 2008 report [PDF] by Moody's Investor Services Global Credit Research, "New Nuclear Generating Capacity: Potential Credit Implications for U.S. Investor Owned Utilities" (PR here [PDF]), warned that "nuclear plant construction poses risks to credit metrics, ratings," concluding:

The cost and complexity of building a new nuclear power plant could weaken the credit metrics of an electric utility and potentially pressure its credit ratings several years into the project, according to a new report from Moody's Investors Service ...

Moody's suggests that a utility that builds a new nuclear power plant may experience an approximately 25% to 30% deterioration in cash-flow-related credit metrics.

And this would likely result in a sharp downgrading of the utility's credit rating.

The application by Florida Power & Light for a large nuclear plant came in at a stunning $12 to $18 billion, and the utility concedes that new reactors present "unique risks and uncertainties," with "every six-month delay adding as much as $500 million in interest costs."

The report Climate Progress published this week, Business Risks and Costs of New Nuclear Power [PDF] by power-plant cost expert Craig Severance, has an extended discussion of the business risks to utilities and hence investors:

American Enterprise Institute endorses tax credits for super-efficient, furnace-free homes

If the American Enterprise Institute starts acknowledging that residential energy efficiency has a "positive rate of return" -- and advocating federal support to capture the full energy savings possible -- perhaps the world is changing.

Then again, it may just be temporary institutional schizophrenia, since others in AEI continue to assert (without any supporting evidence), "No matter what you've been told, the technology to significantly reduce emissions is decades away and extremely costly."

Kevin Hassett, AEI's director of economic-policy studies, has a Bloomberg News column that I excerpt below, because of its surprising degree of common sense -- and because he cites actual research:

On the challenge of cellulosic ethanol

"There is only one problem: the United States is not producing any second-generation non-corn ethanol in significant quantities at the moment. So a whole new industry will have to be brought into existence within less than four years and become one of the largest industries in the United States within the next 10 years."

-- Reuters columnist John Kemp, "Obama's Biofuel Challenge"

Senate Environment Committee gets rolling in 111th Congress

Senate Environment and Public Works Committee Chair Barbara Boxer (D-Calif.) said on Wednesday that she has been consulting with incoming Obama administration officials on a climate plan, though she didn't give a sense of when to expect a new bill this year.

"I will be putting out basic principles shortly," Boxer told reporters. "I wanted to have some consultation [with the incoming administration]." As for when to expect a new bill, Boxer said only that her committee will begin working on one "as soon as it makes sense."

She was also asked about what sort of green stimulus to expect in the upcoming economic package, and said that while she didn't give specifics, she foresees it including green measures. "I'm very optimistic we'll have some green jobs in this proposal, but I can't say how many."

Boxer's committee kicked off the 111th Congress on Wednesday with a briefing on "Investing in Green Technology as a Strategy for Economic Recovery," featuring New York Times columnist Thomas Friedman and clean-tech investor John Doerr, a partner at legendary venture capital firm Kleiner Perkins Caufield & Byers. The two guests urged the committee to push for a price on carbon and massive investments in the research and development of new energy technologies.

Waxman creating new environment subcommittee

Henry Waxman. New House Energy and Commerce Committee Chair Henry Waxman (D-Calif.) is planning some major changes to the organization of the subcommittees, notably creating a single subcommittee to oversee climate, energy, air quality, and water issues. In a letter [PDF] to Democratic committee members on Tuesday, Waxman proposed combining the two subcommittees that currently […]