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I am one of those people who will actually watch those boring, boring, hearings on C-SPAN that most of us flip right on past while watching TV, and this past week I've been watching one of the longer events the channel broadcasts...but it's been far from boring.
The Coast Guard and what used to be the MMS were in Houston looking into what caused the Gulf oil spill and they're taking testimony from representatives of the involved parties...and let me tell you, this is more than just an accident inquiry-it's also a warm-up for the lawsuits that are surely going to follow.
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As we all know, dirty, outdated energy sources have caused serious harm to our economy, to our national security, and of course - as the horrible Gulf oil disaster illustrates - to our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.
Brighton, Colorado (FNS)-Attorneys from the Republican Study Group (RSG) descended upon the 17th Judicial District courtroom of Judge John T Bryan today to present an amicus brief and associated oral arguments in order to prevent a settlement in a lawsuit related to an automobile accident in this Colorado city.
The intervening attorneys claim the settlement reached between the two parties to the accident is a "shakedown" because the plaintiff had not yet exhausted all possible legal remedies when the agreement was finalized, and because the agreement was executed in the presence of the plaintiff's brother, a well-known local attorney.
They hope Judge Bryan will decline to approve the settlement in today's hearing, and that he will order the parties to move forward to trial.
"What we have is government transferring property from one party, an admittedly unattractive one, to others, not based on preexisting laws but on decisions by one man, a car czar", said Crush Mimbaugh, attorney for the RSG, "and we are here today to protect all Americans from this legally sanctioned rape of an innocent driver."
Honestly, I am absolutely sick of commercial air travel these days. Just dealing with security is bad enough, but then there's the airlines, and...hey, all you really need to know here is that there has to be a pretty good reason for me to fly cross-country.
Well, I had one Saturday night, which is how I came to be in the Colonnade Room of the Fairmount Hotel, Washington DC with about 250 of my closest friends, in a classic shawl-collar tuxedo, attending one of the most exclusive "passing of the torch" ceremonies in recent Washington memory.
And when it was all over, Douglas Feith was a happy man.
I just wanted to take a minute to say hello and to see how things have been for you lately, and to maybe bring you up to date on a bit of news from here.
Well, right off the bat, we hear you have a new Conservative Prime Minister and that his Party and Nick Clegg and the Lib Dems are in partnership, which I'm sure will be interesting; you probably heard that us Colonials are again having Tea Parties, which has also been very interesting.
I have a Godson who's getting married this September, so we're all talking about that, and I hear Graham Norton was even better than last year at hosting Eurovision, despite the fact that it's...frankly, it's Eurovision.
Oh, yeah...we also had a bit of an oil spill recently that you may have heard about-and hoo, boy; you should see how the Company that spilled the oil has been acting.
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.
We're now into day way too many of the BP oil spill, and the President has just yesterday been down on the Louisiana coast-again.
There have been suggestions that the Administration should take action to essentially push BP out of the way and take over the work itself, particularly as it relates to the cleanup.
It may have even occurred to you that an official declaration of some sort might be needed, in order to bring the full power of the Feds into play.
That's some good thinking, but before we go jumping right into declaring things we better understand the law, because if we don't, we could actually make things worse.
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.
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.
The sudden crash in oil prices might be the smoking gun that shows speculation, rather than supply and demand, drove the huge run-up in oil futures last year.
Daniel Fine of the New Mexico Institute of Mining and Technology's Center for Energy Policy told participants at a forum in Albuquerque Jan. 16 that massive, speculative trading by investment banks like Lehman Brothers, hedge funds and others is what drove oil above $140 per barrel.
It created a "colossal energy price bubble," said Fine, a former MIT research associate and contributing editor on natural resources for BusinessWeek.
"Like real estate, the energy bubble was based on excessive, open credit that allowed big investment firms to instantly arrange contracts without putting anything up," Fine said. "No deposit or letter of credit was needed."
After Lehman Brothers folded in September, investigators found it held 10,000 oil contracts of 1,000 barrels each, Fine said.
Once speculative borrowing ended, oil prices plummeted to below $35 per barrel, which Fine said can't be explained by supply and demand.
"At this point, total world demand for crude has fallen just two percent," Fine said. "U.S. demand since the peak is down less than five percent. I say it's not supply or demand, it's fall out of speculation and the relative absence of credit from the financial services industry."
Bob Gallagher, president of the New Mexico Oil and Gas Association, agreed that speculation played a major role, but said current prices are too low.
"Nearly $150 per barrel was ridiculous, but so is $35 per barrel," Gallagher said. "We've got to get the speculators out and find the fine line between supply and demand. I believe the real price would be between $75 and $80 per barrel."
Forecasts vary, but Fine said most market analysts expect prices to slowly climb over the next two years to somewhere between $60 and $80 per barrel.
To minimize speculation, Fine called for tighter regulations, such as greater transparency on domestic and foreign commodity exchanges and higher margin requirements for contract deposits.
U.S. Sen. Jeff Bingaman, D-NM, supported such policies last year as chair of the Senate Committee on Energy and Natural Resources.
Bingaman spokesperson Jude McCartin said the senator will introduce new regulatory proposals this year.
"He will soon unveil energy legislation that includes measures to protect against speculation," McCartin said.
The other day I knocked on the door of an older Republican couple. The man answered the door, and his wife then came over.
They were friendly, fair, and forthright; we had a good conversation, and I think we stuck up a good rapport.
For the most part, it was a pretty average conversation, whether it be from the perspective of a Merrimack voter (they talked about toll booths), a Republican voter (they talked about taxes), or an average voter (they talked about politicians suck).
However, there was one thing that caught me, and that was how the wife asked me why the state of New Hampshire doesn't drill for oil off Hampton Beach.
I was a little perplexed, considering there is no oil off the shores of Hampton Beach, but she swore she saw an oil drilling platform out there. Considering I haven't been to Hampton Beach in around a year, and that was at night, I decided to be diplomatic and try and change the subject gingerly.
Since it's a Federal rather than a State issue, i'll let the big wigs discuss the issue considering there isn't any oil off the shores of New Hampshire. In the meantime though, if anyone knows what the oil drilling platform this woman is talking about actually is, please let me know.
TPM has been following the ongoing saga of John McCain's ties to the Hess Oil company. Two high level campaign officials were lobbyists for the oil company, whose executives and even an office manager and her Amtrak track foreman husband managed to max out to McCain plus fork over another $28,500 each to the RNC-McCain fund.
The FEC filings show that Alice Rocchio, who's identified as a Hess office manager, and her husband, Pasquale Rocchio, who's described as an Amtrak "track foreman," each separately donated $28,500 to the RNC-McCain fund, which is called McCain Victory 2008. They gave the money on June 24th, the same day that eight other Hess execs and family members each shelled out the same amount.
So the Rocchios, who live in Flushing, Queens, donated a total of $57,000 to McCain's efforts.
The Rocchios joined Hess senior executives and two Hess family members who all gave about $285,000 in total when McCain reversed his position and began to speak out in favor of off shore drilling. Hess stands to gain a great deal of money if the ban on offshore drilling is lifted, of course.
I guess a McCain presidency would include energy policy made by oil companies behind closed doors a la Cheney.
More on the lobbyists:
The two lobbyists are Wayne Berman, McCain's national finance co-chairman, and John Green, who's been the McCain campaign's chief Congressional liaison since March. Both men worked for a firm called Ogilvy Government Relations. The firm has been paid $800,000 by Hess from 2005 up to the present, including $720,000 during the period that both of the two lobbied for the company, the forms say.
Berman, a prolific fundraiser and bundler for McCain, appears to still be lobbying for Hess. The most recently filed form shows that he was lobbying for the company as late as mid-July. Green took a leave of absence from Ogilvy to join the campaign, but was still on the Hess account up through the first quarter of 2008, the forms show.
John E. knows he can't hide from his establishing and maintaining the ENRON Loophole, and he's clinging to the latest GOPer talking point (this time without repeating Cheney's propaganda): Drill. Drill. DRILL!!!! The 'Ticker:
"Jeanne Shaheen and the liberals have said no to increases in domestic production," Sunnu said. "You have to ask how high they will let prices rise."
He noted that while the Democrats have been in control of congress, oil prices have risen by 80 percent. Reporters later challenged this assertion, asking the senator how high prices would be now if the Republicans lead congress and pointing out that prices have risen 300 percent during President Bush's term.
It's almost kind of sad to read. Except for the fact that I filled up half a tank today and my eyeballs popped out of my skull. If Senator Sunoco thinks he can swindle the electorate into thinking that that's the Democrats' fault after eight years of Bush and him, then he truly has nothing. I mean, what else is he going to do? Talk about how totally awesome Iraq is?
Bush and Sununu took peace and prosperity, and gave us a war of choice and a recession. There is no getting around that reality.
Morning after update: Now this is why the 'Ticker is so valuable. They got this story earlier and without the priceless moment quoted above whitewashed out.
As Dean has already pointed out, Sununu has been stealing his talking points from Dick Cheney and the oil and gas companies lately. They both have been spreading the lie that China is drilling just a few miles off the coast of Florida.
Today, George Bush announced the purpose of having his foot soldiers like Sununu spread these false rumors -- he's planning on lifting the ban on offshore oil drilling.
The NH Democratic Party released a web video today looking at Sununu's history of accepting campaign cash from oil and gas companies and spreading their lies -- check it out here.
(Please note: I am an employee of the NH Democratic Party.)
Update (Dean): For the click averse (though you really should click - lots of great info on Sununu and Big Oil):
From the MyBO-NH page, comes We Need to Get It Done. In it, cmdrfoley quotes Barack in Portsmouth:
"I want our children and our children's children to point to this generation and this moment as the time when America found its way again. As the time when America overcame the division and the politics and the pettiness of an earlier era so that a new generation could come together and take on the most urgent challenge of this era. I am running for President of the United States to lead us toward this new era, and I ask all of you to join me in taking on the challenge that lies ahead."
I have snipped out the nifty vid that illuminates the track record of the White House on American Energy Policy since Nixon. By viewing this video, it should be clear how the entrenched, conventional "wisdom and experience" has not helped you and me, one bit. If we fight wars for oil and I have. Then a failed energy policy has deeply troubled our nation in ways difficult to triangulate, but easy to see.
Last Sunday evening at the end of a long, hot, winding road through the state the Edwards family wrapped up their bus tour of NH. They were greeted by well over a thousand people at a Town Hall event on the banks of the river at lovely Prescott Park in downtown Portsmouth NH.
His remarks were sharp, clear and passionately delivered to an enthusiastic crowd.
He threw down the gauntlet on universal health care in the field and challenged the entire Democratic party on financing campaigns through lobbyist money. He presented the voters in attendance not only with his vision for change in this country, but he gave us a very clear picture of the kind of America that he wants us to create together. The grassroots are not only central to the campaign in this vision, but they need to be central going forward from January 20, 2009.
Last Sunday evening at the end of a long, hot, winding road through the state the Edwards family wrapped up their bus tour of NH. They were greeted by well over a thousand people at a Town Hall event on the banks of the river at lovely Prescott Park in downtown Portsmouth NH.
