investing

Still trying to make environmental sense of the massive bailout now underway

I like to think of myself as a reasonably cynical person, at least in matters of finance. When I started reporting on Mexico’s markets in 1998, Russia had just defaulted in billions of debt. Russia and Mexico had virtually no direct financial or trade relationship, yet large investors punished Mexico anyway. (To be fair, Mexico […]

The SEC chief fiddled while Wall Street exposed the public to billions in bailout funds

Remember the Securities Exchange Commission? The SEC got its start in the 1930s, when dodgy dealing on Wall Street triggered that massive economic meltdown now known as the Great Depression. The idea was that the SEC would impose transparency on stock markets and make sure that people actually knew what they were buying or selling. […]

How do we build (energy) infrastructure?

The enthusiasm for unregulated markets in the last 30 years of American public policy has obscured how large pieces of infrastructure get built. Unregulated markets, to work according to their ideal, require economic actors to be able to create competing offers which are judged by consumers or buyers according to the total value they represent. […]

Making environmental sense of the financial storm now raging

Interpreting reports currently coming out of Wall Street is like tracking a vast hurricane as it rages its way through the Gulf and toward a population center: Conditions are way too chaotic to make confident predictions, but preparing for the worst probably isn’t a bad idea. As recently as a year ago, no one could […]

Big emissions gains require big investments; get over it

I’m not particularly invested in white roofs — the subject of several stories yesterday, reporting research showing that painting roofs white in several major urban areas would have a surprisingly large effect on warming — but Keith Johnson’s response on Environmental Capital makes me grind my teeth: The scale and cost of any program that […]

Study claims shareholder and climate activism are bad for stock prices

You know that an organizing tactic which targets business practices is effective when the U.S. Chamber of Commerce opens its big yap about it. Recent actions getting these guys’ attention include activist shareholders at a recent Bank of America shareholder meeting decrying its coal investments, including mountaintop removal, and a resolution supported by Dow Chemical […]

First recorded solar billionaire in China, U.S. billionaires persue wind

This post is by ClimateProgress guest blogger Bill Becker, executive director of the Presidential Climate Action Project. —– Hunter Lovins is one of the country’s premier prophets of the prosperity we can achieve if we move quickly to establish a post-carbon economy. Vast new markets and investment opportunities are opening worldwide for clean technologies. “Those […]

Public investment can stop emissions faster than relying on private sector

David Roberts comments ruefully on the lack of a clean energy coalition for progressives to join, and on the lack of common talking points on clean energy -- which allows the right eat our lunch on drilling.

I've argued in the past that links between greens and progressive are more effective than trying to win the conservative movement over (though individual conservatives should be welcomed). The truth is, there is no solution that will lower oil prices below $100 a barrel: not drilling, not nuclear, not solar or wind, and not even massive efficiency. We have to replace oil, and anything that will do this (which does not include more drilling or nuclear) will take time to implement.

What we can offer are programs that help people's pocketbooks in other areas. We can't lower the cost of oil, but we can lower the cost of living in the short run -- and get the oil monkey and the greenhouse gas monkey off our nation's back in the long run. We won't come up with slogans as pithy as "drill everywhere" -- the disadvantage of basing a campaign on workable solutions is you can't just make stuff up. Our slogan would have to be along the lines of: "Nobody can make more oil; but we can put money in your pocket." (Someone better than I am at slogans please condense this.) What actual policies could lie behind this slogan?

If environmentalism was really a movement and tied to a larger progressive movement, we could support universal health care. I would favor single-payer, but at least something that would provide decent coverage to everybody and lower costs. (This, umm, comes back to single-payer, since incremental reforms tend not to actually control costs.) Health care reform would not lower the price of a single tank of gas or drop one utility bill, but it would save enough money that higher gas prices and utility bills would not hurt so much until the problem is solved.

The unglamorous work of change at the local level

Listen Play "I Have Confidence," from The Sound of Music I arrived here too late to catch the whole day today, but I did see some people presenting work from Eastern Europe, Sweden, Connecticut, Harvard, and Cambridge, Mass. It was a bit of a random grab bag, but these are all people working close to […]