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James Galbraith, son of that wise economist (and there sure aren't many of those around, or in history for that matter) John Kenneth Galbraith, and my favorite economist along with Krugman, has a good article up. I think the money quote is:
The clear and pressing priorities are energy and climate change. To address these challenges is a grand task, requiring decades of research, careful planning and many investments, if we are to pass on a livable planet and a decent living standard. Institutionally it will require new lending agencies to assure that the funds needed are available over the long term. And the work can provide jobs for millions, for many years.
(Imagine the positive impact of having both Paul Hodes and Jeanne Shaheen in the Senate... now go make some phone calls or knock on some doors. - promoted by Mike Hoefer)
Yesterday, I stood with environmental leaders in New Hampshire to talk about my dedication to a national renewable energy standard. I challenged my global-warming denying opponent, Kelly Ayotte, to take a position on the issue. She responded that she would look at the proposal.
It's puzzling. Why would someone who doesn't think global warming exists think that we need to enact a proposal aimed at reducing carbon emissions? Why would someone who supports things like drilling off the coast of New Hampshire all of a sudden try to convince us she'd be supportive of renewable energy efforts in the US Senate?
In her competitive primary, we watched Ms. Ayotte move to the far-right wing of her party. Now, with the general election less than a month away, she's trying to have it both ways. She's hoping New Hampshire won't notice that big oil and coal companies continue to fill her campaign coffers as she talks about drilling off the coast of New Hampshire.
The bottom line is that Kelly Ayotte has as many doubts about global warming as I have about her ability to stand up to her special interest donors in the oil and coal industry.
Congress is heading back home for the August recess this week. Apparently our Senators need to rest after they failed to take up both a clean energy and climate bill and an oil spill bill.
Legislative inaction must be more tiring than I realized.
Still, I don't view this month as a cooling off period. If anything, it's time to turn up the heat.
Over the next few weeks, Senators will be holding "town hall meetings" in their states. Last year, these meetings came to define the health care debate. This year, they could help us reshape America's energy policy.
If you are like me and you are still stunned that the Senate refused to pass a bill that would have created nearly 2 million new American jobs, put our nation at the forefront of the clean energy market and helped end our addiction to oil, then go to a town hall meeting and tell your lawmakers what you think.
Tell them that it is in America's best interest to embrace clean energy now.
And while you are at it, please tell them to block attempts by some Senators to weaken the Clean Air Act-the 40-year-old law that has saved hundreds of thousands of lives-in an effort to further delay reductions in global warming pollution.
Some naysayers claim that voting on visionary legislation is a risky proposition when we are this close to an election. They are wrong, and history proves it.
As I wrote in a recent blog post, 13 of the most powerful environmental laws were passed during the fall of an election year or in the lame duck sessions following elections.
We can pass comprehensive clean energy and climate legislation this fall, but only if we demand it of our lawmakers.
Use this August to make your voices heard. You can find your Senators' schedules by checking their Senate websites, as well as their candidate websites - Republican or Democratic.
Yesterday, the NRDC Action Fund launched a campaign featuring a powerful new ad by renowned environmental activist and celebrated actor, Edward James Olmos. In the video, which you can view here, Olmos explains what makes people - himself included - "locos" when it comes to U.S. energy and environmental policy. Now, as the Senate moves towards a possible debate on energy and climate legislation, we need to let everyone hear Olmos' message.
Hi, I'm Edward James Olmos. They say insanity is doing the same thing over and over again and expecting different results. I guess that's what makes Americans "locos." We keep yelling "drill baby drill" and expecting things to turn out ok. But the disaster in the Gulf of Mexico is nothing new. The oil industry has been poisoning our oceans and wilderness for decades. It's time to regain our sanity. America doesn't want more oil disasters. We need safe, clean and renewable energy now. Think about it.
Sadly, Olmos' definition of "insanity" is exactly what we've been doing for decades in this country -- maintaining policies that keep us "addicted" to fossil fuels instead of moving towards a clean, prosperous, and sustainable economy.
As we all know, dirty, outdated energy sources have caused serious harm to our economy, to our national security, and of course - as the horrible Gulf oil disaster illustrates - to our environment. In 2008 alone, the U.S. spent nearly $400 billion, about half the entire U.S. trade deficit, importing foreign oil. Even worse, much of that $400 billion went to countries (and non-state actors) that don't have our best interests at heart.
As if all that's not bad enough, our addiction to oil and other fossil fuels also has resulted in tremendous environmental devastation, ranging from melting polar ice caps to record heat waves to oil-covered pelicans and dolphins in the Gulf of Mexico.
As Edward James Olmos says, it's enough to drive us all "locos."
Fortunately, there's a better way.
If you believe, as we passionately do, that it's time to kick our addiction to the dirty fuels of the past, then please help us get that message out there. Help us air Edward James Olmos' ad on TV in states with U.S. Senators who we believe can be persuaded to vote for comprehensive, clean energy and climate legislation. If we can convince our politicians to do their jobs and to pass comprehensive, clean energy and climate legislation this year, we will be on a path to a brighter, healthier future.
It's been a while since we had to have a real heart-to-heart, the Obama Administration and I, and last time it was because Rahm Emanuel had been a bit snippy toward those of us who are carrying the water for this Administration.
We need to have another one of those conversations today; this time the circumstances are a lot more positive-in fact, if the Administration follows my suggestions here, we have a real chance to put the Democrats on the road to victory, not just this November, but also in 2012.
What I'm proposing will create hundreds of thousands, if not millions of jobs, and it will stimulate millions more as we create a national source of discount electrical power that can be used by business and consumers alike.
Here's the best part: it's no "pie in the sky" promotion I'm offering here; we've already done the same thing before, it's been working out well for almost three quarters of a century...and even better than all that...my idea first pays for itself, and then...it actually makes the Federal Government a profit, forever after.
Over the past six months, my opponents have constantly reminded me of how crucial this race is. Whether it's a woman's right to choose or a family's right to affordable health care - they've shown us time and time again what we all stand to lose if Kelly Ayotte, Bill Binnie, or Ovide Lamontagne wins.
Earlier this morning, after a great pancake breakfast with more than 200 supporters, I officially filled out the paperwork to become a Democratic candidate for the US Senate.
I want to thank those of you who joined me this morning at the Statehouse. Not only was it a truly humbling show of support for Peggo and me, but it was also a great sign of things to come as we get close to November 2.
Kathy Sullivan had a great post on this earlier today, but I wanted to take a second and talk about Kelly Ayotte's statement this morning that taking drilling in New England "off the table" would be a "huge mistake."
It was unbelievable, especially as millions of gallons of oil continue to pollute Gulf waters and coastlines
(Thanks for stopping by Congressman. Only 160 days until we get to vote for you to be the next Senator from the great state of New Hampshire. - promoted by Mike Hoefer)
For 43 days, thousands of barrels of oil have been spilling into the Gulf Coast. 43 days of environmental disaster because big oil companies were given a blank check on offshore drilling with little regulation and poor oversight.
Now, with the recent failure of the "top kill" strategy, there is no end in sight to the amount of oil that is spilling into the Gulf. This spill is poisoning our waters, suffocating our plants and wildlife, and jeopardizing the health of our citizens - threatening jobs, businesses and communities along the Gulf Coast.
My thoughts and prayers are with the people and communities down on the Gulf, who are dealing day and night with the devastating aftermath of the spill.
This disaster was a warning sign. When government puts the profits of Big Oil first, when politicians listen to special interests instead of the people they are supposed to represent - then we put the safety of our workers, communities and economy at risk.
Fletcher Features
The Impact of Shale Gas Technology on Geopolitics
Dr. Daniel Fine of MIT discusses how new technology in extracting gas will impact geopolitics and the environment
Dr. Daniel Fine of the Mining and Minerals Resources Institute at MIT addressed Fletcher students at a talk sponsored by the International Security Studies Program and offered his insights into how the development of new technology will allow the United States to tap vast, previously inaccessible, resources of natural gas that will impact everything from the price of gasoline to the ability of Chinese companies to buy equity in Russian natural gas fields.
The United States has a monopoly on "hydro-fracing" technology. The technology, short for hydraulic fracturing, releases natural gas trapped in shale deposits by injecting the deposits with high-pressure water mixed with sand and small amounts of chemical additives.
According to Dr. Fine, the "cloud over gas" used to be "do we have enough gas?" In 2003, Federal Reserve Chairman Alan Greenspan declared that the United States did not have enough natural gas, and that it would be necessary to import liquid natural gas (LNG). This, said Dr. Fine, was clearly a mistake in the light of the new hydro-facing technology, not only because importing LNG poses a security risk to the United States, but because tapping natural gas from shale represents an economic "bonanza" in "the most [economically] repressed parts of the country:" western New York, western Pennsylvania and West Virginia, areas which suffer from high rates of unemployment, and are estimated to host 490 trillion cubic feet of natural gas. The thousands of jobs that could be created in these areas could stand in the way of President Obama's pursuit of subsidies for renewable energy.
Another excellent article on Energy Security and Regulation! Enjoy!
Energy Security and the Regulation Imperative in a New Economic Era
Did the economic crisis stabilize oil prices? What is the future of energy security? Has China bypassed the United States in the green energy revolution? How will the global community approach the "fourth corridor" pipeline in relation to Iranian power and Russian resurgence?
Dr. Daniel Fine, research associate at the Massachusetts Institute of Technology's Mining and Minerals Resources Institute, addressed a diverse set of energy-related questions at The Fletcher School on September 15. The presentation was part of the International Security Studies Program Global Speaker Series.
Dr. Fine indicated that Saudi Arabia views the current price of oil, roughly $70-75 per barrel, as reflecting a price that is both fair and natural. The 2007-2008 price spike, which increased the per barrel price 220% over its 2005 level, was accompanied by a mere 2.5% increase in consumption. According to Dr. Fine, this undermines the oft-cited argument that consumption spikes drive price increases.
The real story of runaway oil prices, Dr. Fine said, lies in the enormous amount of available credit in the 2007-2008, which allowed speculators to buy and hold massive reserves, disturbing traditional forces of supply and demand. Combined with a global finance system that neglected deposits and encouraged rampant buying and a lack of regulation, this perfect storm brought the financial world to its knees in September 2008.
As the global economy shows signs of recovery, Dr. Fine urged the audience to ignore speculators. So-called "geopolitical analysts" on major news shows, he said, are often self-interested frauds with no actual training in geopolitics, serving only to promote a product (oil, gas, or energy) and make faulty predictions.
In the framework of energy security, Dr. Fine cited President Obama's speeches in Cairo and on Wall Street, as evidence of the administration's movement away from hard power "oil politics" and toward Joseph Nye's conception of soft power. Dr. Fine cited President Obama's Cairo speech as the backbone of a new regional policy in which the United States will move away from energy independence and toward energy interdependence, working alongside the global community and with regulators to ensure transparency.
The new geopolitics, Dr. Fine noted, focus on the location of and environment that surrounds oil supplies. He indicated that this symbolizes a shift from "great salesmanship" to true political geography with an associated acknowledgement of the reality of sector specific risk. In this context, Dr. Fine discussed the "fourth corridor" pipeline route, popularly known as Nabucco, which will stretch across the Caspian Sea to Austria. Turkey's attempts to claim 15% of the overall revenue would, if successful, render the proposed pipeline uneconomic, while the tumult in Georgia poses enormous political risk to the project. Russia, which holds a virtual monopoly on European natural gas supply and is dabbling anew in great power politics, is vehemently opposed to Nabucco. This is one of the reasons, Dr. Fine stressed, that Russia does not want to see regime change in Iran; the current anti-Western hard line ensures Iran's illegitimacy in the West and thus prevents Iranian oil sales to Western powers.
Dr. Fine also touched on China and its crucial coal factor. China will inevitability decline the carbon emissions cap to be proposed at COP15, and India, along with other developing powers, will follow suit in rejecting emissions caps. But Dr. Fine argued that China's emphasis on carbon capture synchronization, or CCS, demonstrates its relative advantage over the West in certain green energy issues.
Dr. Fine concluded by citing President Obama's recent hard-line regulation speech on Wall Street as an outline of future policy. If regulation fails, Dr. Fine indicated it is likely that a pricing bubble will return in concert with a buying surge. But with regulation, and with stringent enforcement by both the U.S. and Europe, a permanent cap on oil prices can be established that will maintain transparency and coincide with the fair and natural price.
Baton Rouge (FNS)-Facing both a massive oil slick from a sunken offshore drilling platform and a second year of declining tourism revenues along the Louisiana Gulf Coast caused by high gas prices, Louisiana Governor Bobby Jindal today introduced a new tourism promotion that he reports is going to "...make lemons into lemonade".
Jindal, flanked by British Petroleum's Director of Marketing Dick Timoneous and the Executive Director of the Louisiana State Tourism Board, Jenna Talia, announced that the "All The Oil You Can Carry Festival" would officially commence today just east of New Orleans, and last at least through the month of May.
We're diving deep into "geek world" today with a story that combines economic hardball, the periodic table of the elements, and a barely noticed provision of the Defense Authorization Act that seeks to break a monopoly which today gives China near-absolute control over the materials that make cell phones, electric cars, wind turbines, and pretty much every other tool of modern life possible.
If we successfully break the monopoly, we'll be able to create millions of new manufacturing jobs in this country-and if we don't, somebody else owns the 21st Century.
Ironically, the global warming we're trying to fight with new green technologies might be an ally in our efforts to make those very same green technologies happen.
There's a revolution in industrial processing going on, rare earths are at the center of it all...and in today's story, the revolution will be televised.
Most of you that know me, know that I try to help organize NH progressive veterans around progressive causes and candidates. I was excited by a flurry of e-mails that have come my way, as of late.
Our friend, Rep. Steve Shurtleff, is participating in an effort called Operation Free. This band of brothers and sisters detail their "core motivational principles" as:
- We need to get America running on clean energy.
- Clean energy reduces our dependence on the foreign oil.
- Oil ties our hands in foreign policy, funds terrorists, and entangles America with hostile regimes.
- Our Federal government is considering legislation that promotes clean energy incentives, and people need to understand why this helps our security.
- Getting energy that is CLEAN, DOMESTIC, CHEAP, and SAFE is going to take some real work, so we need to start now.
- It's our patriotic duty to do everything we can to keep our nation safe and secure: clean energy is one of those efforts.
If we truly want to get serious about building a sustainable future, the place to start is here at home.
The City of Manchester recently forged a partnership with the Greater Manchester Chamber of Commerce and launched the Joint Sustainability Committee (relax, Bresler, it's not what you think).
Poppy Sununu spent an hour with the editorial board of the Conway Daily Sun on March 6. The write up is in today's paper:
http://www.laconiadailysun.com...
This story is a gold mine. At this juncture, John H's strategy for the GOP is to move forward into the past. We'll all be okay, if we can only return to the 80's!
Asked to put a personal price-tag on the economic meltdown, Democratic Rep. Carol Shea-Porter said yesterday that her 401K has tanked, while Republican Jeb Bradley said he is stocking up on wood for the winter.
"It's been miserable. I'm from the middle class, my husband's a government employee, all of our money is in a 401K in one of the troubled banks," Shea-Porter said during a televised debate sponsored by the New Hampshire Union Leader and WMUR-TV. "My kids have school loans, we have a house loan, we have car loans, it's been very, very difficult."
But multi-millionaire Jeb Bradley bought more wood, so that's the same as Carol Shea-Porter's (and many of our) 401ks vanishing away.
Now, I'm not knocking buying wood to offset heating costs; in fact I did the very same thing by adding a cord to my usual load. But for a clearly wealthy person to say that he's adding to his wood purchase to offset other energy costs doesn't pass the sniff test. Wealthy proponents of "drill, baby, drill", who are not pinched by the rising price of oil, are not, I imagine, going to be willing to go through the significantly greater daily effort and labor of heating a house with wood. For me and some of my friends, who literally were forced into the decision because we don't know how we can pay the electric and/or oil bills this winter, there really was no choice.
Cross Posted from Environment New Hampshire's recently released report:
Here
Time and again, Sen. John Sununu has sided with Big Oil against the interests of New Hampshire residents. Sen. Sununu:
Voted to protect $13 billion in subsidies for Big Oil. That's $123 for each family in New Hampshire at a time when those same families are paying $1,480 more a year for gasoline, compared to 2001.
Voted against clean energy policies that could reduce our dependence on oil and cut into the profits of Big Oil. In 2007, the top five oil companies earned twice as much in profits as all New Hampshire families earn in a year.
Took $84,400 in campaign contributions from the oil industry during the 2007 to 2008 Congress.
See the full report Here
Environment New Hampshire is a citizen based environmental advocacy organization.
First, no amount of extra drilling authority today is going to reduce gas prices in the immediate near term. The Energy Department admits we are looking at 10 to 15 years before we see the impact of offshore drilling on gas prices. Even then, the impact will be a reduction of 2 to 3 cents at the pump.
Second, the United States geographically only has 2-3% of the world's oil reserves. We consume 25% of the world's oil. Increasing our supply is not the solution. We can exhaust the oil reserves under our soil and off our coasts with little or no impact on the world market. We must also reduce our demand. Experts have been demanding an increase in fuel efficiency standards for decades. The Republican-led Congress refused to do so. This Congress has. The increased CAFE standards passed by Congress will reduce the demand -- and therefore the cost -- of gasoline long before the first offshore rig is even built.
