People Just Don’t Get Why We Have To Stop Burning The World Up – Stop please stop

This is so sad it Makes The World Cry:

http://environment.newscientist.com/article/dn14976-arctic-air-temperatures-hit-record-highs.html?DCMP=ILC-hmts&nsref=news6_head_dn14976

Arctic air temperatures

hit record highs

  • 13:11 17 October 2008
  • NewScientist.com news service
  • New Scientist staff and Reuters

Autumn air temperatures have climbed to record levels in the Arctic due to major losses of sea ice as the region suffers more effects from a warming trend dating back decades, according to a new report.

The annual report issued by researchers at the US National Oceanic and Atmospheric Administration and other experts is the latest to paint a dire picture of the impact of climate change in the Arctic.

It found that autumn air temperatures are at a record 5 °C above normal in the Arctic because of the major loss of sea ice in recent years, which allows more solar heating of the ocean.

That warming of the air and ocean impacts land and marine life and cuts the amount of winter sea ice that lasts into the following summer, says the report.

The report adds that surface ice is melting in Greenland and that wild reindeer, or caribou, herds appear to be declining in numbers.

Domino effect

“Changes in the Arctic show a domino effect from multiple causes more clearly than in other regions,” says James Overland, an oceanographer at NOAA’s Pacific Marine Environmental Laboratory in Seattle and one of the authors of the report.

“It’s a sensitive system and often reflects changes in relatively fast and dramatic ways,” he says.

Researchers at the National Snow and Ice Data Center, part of the University of Colorado, recently reported that, this summer, Arctic sea ice melted to its second-lowest level ever.

The 2008 season, those researchers said, strongly reinforces a 30-year downward trend in Arctic ice extent – 34% below the long-term average from 1979 to 2000, but 9% above the record low set in 2007.

Last year was the warmest on record in the Arctic, continuing a region-wide warming trend dating to the mid-1960s. Most experts blame climate change on human activities spewing greenhouse gases into the atmosphere.

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Then there is this longer piece in The Independent;

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http://www.independent.co.uk/environment/climate-change/record-22c-temperatures-in-arctic-heatwave-394196.html 

Record 22C temperatures in Arctic heatwave

By Steve Connor, Science Editor
Wednesday, 3 October 2007

The high temperatures on the island caused catastrophic mudslides as the permafrost on hillsides melted, Professor Lamoureux said. “The landscape was being torn to pieces, literally before our eyes.”

Other parts of the Arctic also experienced higher-than-normal temperatures, which indicate that the wider polar region may have experienced its hottest summer on record, according to Walt Meir of the US National Snow and Ice Data Centre in Colorado.

“It’s been warm, with temperatures about 3C or 4C above normal for June, July and August, particularly to the north of Siberia where the temperatures have reached between 4C and 5C above average,” Dr Meir said.

Unusually clear skies over the Arctic this summer have caused temperatures to rise. More sunlight has exacerbated the loss of sea ice, which fell to a record low of 4.28 million square kilometres (1.65 million square miles), some 39 per cent below the long-term average for the period 1979 to 2000. Dr Meir said: “While the decline of the ice started out fairly slowly in spring and early summer, it accelerated rapidly in July. By mid-August, we had already shattered all previous records for ice extent.”

An international team of scientists on board the Polar Stern, a research ship operated by the Alfred Wegener Institute in Germany, also felt the effects of an exceptionally warm Arctic summer. The scientists had anticipated that large areas of the Arctic would be covered by ice with a thickness of about two metres, but found that it had thinned to just one metre.

Instead of breaking through thicker ice at an expected speed of between 1 and 2 knots, the Polar Stern managed to cruise at 6 knots through thin ice and sometimes open water.

“We are in the midst of a phase of dramatic change in the Arctic,” said Ursula Schauer, the chief scientist at the Alfred Wegener Institute, who was on board the Polar Stern expedition. “The ice cover of the North Polar Sea is dwindling, the ocean and the atmosphere are becoming steadily warmer, the ocean currents are changing,” she said.

One scientist came back from the North Pole and reported that it was raining there, said David Carlson, the director of International Polar Year, the effort to highlight the climate issues of the Arctic and Antarctic. “It makes you wonder whether anyone has ever reported rain at the North Pole before.”

Another team of scientists monitoring the movements of Ayles Ice Island off northern Canada reported that it had broken in two far earlier than expected, a further indication of warmer temperatures. And this summer, for the first time, an American sailing boat managed to traverse the North-west Passage from Nova Scotia to Alaska, a voyage usually made by icebreakers. Never before has a sail-powered vessel managed to get straight through the usually ice-blocked sea passage.

Inhabitants of the region are also noticing a significant change as a result of warmer summers, according to Shari Gearheard, a research scientist at the National Snow and Ice Data Centre. “People who live in the region are noticing changes in sea ice. The earlier break-up and later freeze-up affect when and where people can go hunting, as well as safety for travel,” she said.

Mark Serreze of the National Snow and Ice Data Centre, said: “We may see an ice-free Arctic Ocean in summer within our lifetimes. The implications… are disturbing.”

The North-west Passage: an ominous sign

The idea of a North-west Passage was born in 1493, when Pope Alexander VI divided the discovered world between Spain and Portugal, blocking England, France and Holland from a sea route to Asia. As it became clear a passage across Europe was impossible, the ambitious plan was hatched to seek out a route through north-western waters, and nations sent out explorers. When, in the 18th century, James Cook reported that Antarctic icebergs produced fresh water, the view that northern waters were not impossibly frozen was encouraged. In 1776 Cook himself was dispatched by the Admiralty with an Act promising a £20,000 prize, but he failed to push through a route north of Canada. His attempt preceded several British expeditions including a famous Victorian one by Sir John Franklin in 1845. Finally, in 1906 Roald Amundsen led the first trip across the passage to Alaska, and since then a number of fortified ships have followed. On 21 August this year, the North-west Passage was opened to ships not armed with icebreakers for the first time since records began.

Kay Bailey Hutchison, Newt Gingritch, John Boehner and the President of the United States Are All Proven Liars

 Add to that list T. Boone Pickens and American Solutions (thus Grover Norquist). The high oil prices and the high gasoline prices were the direct result of Market Manipulation by commodity speculaters. It did not amount to the “single largest transfer of wealth overseas”, as Pickens claims. Almost all of those speculaters were right here in the good old US of A. They took billions of $$$ from poor and middle class people pockets. Those that could least afford it as their capitalist schemes brought the financial markets down.

Oil is now below 80$$ per barrel and gas is below 3$$ per gallon. Not a single new well has been drilled. No appreciable amount of oil has been added to the system. In other words, no new “supply” was added to the “market” and yet prices are falling. Hmmm so when are people going to go to jail?

 But bigger questions remains. Now that the market has been destabilized by speculators how low can the price of oil go? The Saudi’s estimate that it costs them 40$$ to put a barrel of oil on the deck of a ship, and ironically another 10$$ to ship it. Can the price of oil drop below 50$$ a barrel? And what happens then?

The Big Oil Companies worst fears have arrived. As millions of Americans (yours truely included) shed billions of miles of driving reducing demand for gasoline in unprecidented fashion, what will the outcome be for the automobile industry and what is left of America’s manufaturing base.

Oh did I mention – When are people going go to jail for this “harmless little prank”?

 www.yuwantitwhen.com

wreck.jpg

John McCain’s Global Warming Policy – Well, he calls it Climate Change

But you know what he means, right? nudge nudge wink wink Know What He means?

 http://www.johnmccain.com/Informing/Issues/da151a1c-733a-4dc1-9cd3-f9ca5caba1de.htm

Climate Change

John McCain will establish a market-based system to curb greenhouse gas (GHG) emissions, mobilize innovative technologies, and strengthen the economy. He will work with our international partners to secure our energy future, to create opportunities for American industry, and to leave a better future for our children.John McCain’s Principles for Climate Policy

  Climate Policy Should Be Built On Scientifically-Sound, Mandatory Emission Reduction Targets And Timetables.
  Climate Policy Should Utilize A Market-Based Cap And Trade System.
  Climate Policy Must Include Mechanisms To Minimize Costs And Work Effectively With Other Markets.
  Climate Policy Must Spur The Development And Deployment Of Advanced Technology.
  Climate Policy Must Facilitate International Efforts To Solve The Problem.


John McCain’s Cap and Trade Policy
John McCain Proposes A Cap-And-Trade System That Would Set Limits On Greenhouse Gas Emissions While Encouraging The Development Of Low-Cost Compliance Options. A climate cap-and-trade mechanism would set a limit on greenhouse gas emissions and allow entities to buy and sell rights to emit, similar to the successful acid rain trading program of the early 1990s. The key feature of this mechanism is that it allows the market to decide and encourage the lowest-cost compliance options.

How Does A Cap-And-Trade System Work?A cap-and-trade system harnesses human ingenuity in the pursuit of alternatives to carbon-based fuels. Market participants are allotted total permits equal to the cap on greenhouse gas emissions. If they can invent, improve, or acquire a way to reduce their emissions, they can sell their extra permits for cash. The profit motive will coordinate the efforts of venture capitalists, corporate planners, entrepreneurs, and environmentalists on the common motive of reducing emissions.

Greenhouse Gas Emission Targets And Timetables

2012: Return Emissions To 2005 Levels (18 Percent Above 1990 Levels)2020: Return Emissions To 1990 Levels (15 Percent Below 2005 Levels)

2030: 22 Percent Below 1990 Levels (34 Percent Below 2005 Levels)

2050: 60 Percent Below 1990 Levels (66 Percent Below 2005 Levels)

The Cap And Trade System Would Allow For The Gradual Reduction Of Emissions.

The cap and trade system would encompass electric power, transportation fuels, commercial business, and industrial business – sectors responsible for just below 90 percent of all emissions. Small businesses would be exempt. Initially, participants would be allowed to either make their own GHG reductions or purchase “offsets” – financial instruments representing a reduction, avoidance, or sequestration of greenhouse gas emissions practiced by other activities, such as agriculture – to cover 100 percent of their required reductions. Offsets would only be available through a program dedicated to ensure that all offset GHG emission reductions are real, measured and verifiable. The fraction of GHG emission reductions permitted via offsets would decline over time.Innovating, Developing and Deploying Technologies

To Support The Cap And Trade System, John McCain Will Promote The Innovation, Development And Deployment Of Advanced Technologies. John McCain will reform federal government research funding and infrastructure to support the cap and trade emissions reduction goals and emphasize the commercialization of low-carbon technologies. Under John McCain’s plan:

Emissions Permits Will Eventually Be Auctioned To Support The Development Of Advanced Technologies. A portion of the process of these auctions will be used to support a diversified portfolio of research and commercialization challenges, ranging from carbon capture and sequestration, to nuclear power, to battery development. Funds will also be used to provide financial backing for a Green Innovation Financing and Transfer (GIFT) to facilitate commercialization.John McCain Will Streamline The Process For Deploying New Technologies And Requiring More Accountability From Government Programs To Meet Commercialization Goals And Deadlines.

John McCain Will Ensure Rapid Technology Introduction, Quickly Shifting Research From The Laboratory To The Marketplace.

John McCain Will Employ The Inherent Incentives Provided By A Cap-And-Trade System Along With Government-Led Competitions As Incentives For New Technology Deployment.

John McCain Will Foster Rapid and Clean Economic Growth

John McCain Believes An Effective And Sustainable Climate Policy Must Also Support Rapid Economic Growth. John McCain will use a portion of auction proceeds to reduce impacts on low-income American families. The McCain plan will accomplish this in part by incorporating measures to mitigate any economic cost of meeting emission targets, including:

Trading Emission Permits To Find The Lowest-Cost Source Of Emission Reductions.Permitting “Banking” And “Borrowing” Of Permits So That Emission Reductions May Be Accelerated Or Deferred To More Economically Efficient Periods.

Permitting Unlimited Initial Offsets From Both Domestic And International Sources.

Effectively Integrating U.S. Trading With Other International Markets, Thereby Providing Access To Low-Cost Permit Sources.

Establishing A Strategic Carbon Reserve As A National Source Of Permits During Periods Of Economic Duress.

Early Allocation Of Some Emission Permits On Sound Principles. This will provide significant amount of allowances for auctioning to provide funding for transition assistance for consumers and industry. It will also directly allocate sufficient permits to enable the activities of a Climate Change Credit Corporation, the public-private agency that will oversee the cap and trade program, provide credit to entities for reductions made before 2012, and ease transition for industry with competitiveness concerns and fewer efficiency technology options.

A commission will also be convened to provide recommendations on the percentage of allowances to be provided for free and the percentage of allowances to be auctioned, and develop a schedule for transition from allocated to maximum auctioned allowances. Cap-and-trade system will also work to maximize the amount of allowances that are auctioned off by 2050. John McCain Will Provide Leadership for Effective International Efforts John McCain Believes That There Must Be A Global Solution To Global Climate Change. John McCain will engage the international community in a coordinated effort by:

Actively Engaging To Lead United Nations Negotiations.Permitting America To Lead In Innovation, Capture The Market On Low-Carbon Energy Production, And Export To Developing Countries – Including Government Incentives And Partnerships For Sales Of Clean Tech To Developing Countries.

Provide Incentives For Rapid Participation By India And China, While Negotiating An Agreement With Each. John McCain Will Develop a Climate Change Adaptation Plan John McCain Believes A Comprehensive Approach To Addressing Climate Change Includes Adaptation As Well As Mitigation. He believes:

An Adaptation Plan Should Be Based Upon National And Regional Scientific Assessments Of The Impacts Of Climate Change.An Adaptation Plan Should Focus On Implementation At The Local Level Which Is Where Impacts Will Manifest Themselves.

A Comprehensive Plan Will Address The Full Range Of Issues: Infrastructure, Ecosystems, Resource Planning, And Emergency Preparation.

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There are a ton of problems with this plan but the first of the problems is IT”S TOO LONG. In fact, I doubt that anyone will ever read these words, and not just because this is an obscure blog at an obscure site. Nobody will ever get this far! The other problem is it takes too long. I mean no significant reductions before 2050. Who is going to be left alive at that point? But the real killer is the Cap and Trade system. This is just an industry fudge to get around the Clean Air Act. We need to shut down every coal fired powerplant in this country. Contrary to T. Boone Pickens, we need to convert all of those plants to natural gas, until we can get rid of them. We need to start at least three major “Hot Rocks” projects here in the US now. More about Cap and Trade when we look at Obama’s environmental proposals.

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John McCain’s Energy Policies – The “drill here, drill now” crowd looks pretty foolish right about now

Even Bill O’Reilly agrees with me:

www.billoreilly.com

The rapid rise in Oil Prices and the concurrent rise in gasoline prices was caused by speculators in the oil market, reductions in gas refinement, the drop in the dollar value because of speculators, and China stock piling diesel fuel for the Olympics. There is no way that it was remotely related to supply and demand. Demand fell as the price climbed. Even conservative estimates say that so far this year Americans have driven 50 billion miles fewer than just last year.

Even worse than that is the fact that the Congress conceded the point to an angry electorate and passed a bill expanding drilling. That inspite of the fact that there is no oil in ANWR or along most of the continental shelf, there will be no bids on the leases if they are ever put up for sale, and we don’t have any oil rigs to drill there anyway. Every last rigg in the WORLD is spoken for right now.

So given all of that why is John McCain still touting the policy below?:

http://www.johnmccain.com/Informing/Issues/17671aa4-2fe8-4008-859f-0ef1468e96f4.htm

John McCain Will Commit Our Country To Expanding Domestic Oil Exploration. The current federal moratorium on drilling in the Outer Continental Shelf stands in the way of energy exploration and production. John McCain believes it is time for the federal government to lift these restrictions and to put our own reserves to use. There is no easier or more direct way to prove to the world that we will no longer be subject to the whims of others than to expand our production capabilities. We have trillions of dollars worth of oil and gas reserves in the U.S. at a time we are exporting hundreds of billions of dollars a year overseas to buy energy. This is the largest transfer of wealth in the history of mankind. We should keep more of our dollars here in the U.S., lessen our foreign dependency, increase our domestic supplies, and reduce our trade deficit – 41% of which is due to oil imports. John McCain proposes to cooperate with the states and the Department of Defense in the decisions to develop these resources.

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Shouldn’t we be saying “anywhere but here, anytime but now”? Like New Orleanians say about hurricanes.
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John McCain Capriciousness Will Cost Him The Election – The myth of the multiple Nukes

McCain is a hot headed shoot from the hip cowboy Republican and his Nuclear Policy, such as it is, shows it. He is George Bush, Dick Cheney and Karl Rove combined without the nasty little snicker. He could have stated a policy pro-nuclear. He could have stated a policy of 3 or 4 Nuclear Power Plants, with a “we’ll see how it goes” clause. He could have done something helpful as a Republican and said, “We will open the waste depository in Nevada within the first year of our presidency.” Something no Democrat could offer because of Harry Reid.

But instead he wants to try to build 45 Nuclear Power Plants. That is 1 for almost every state in the Nation! That with the credit markets paralyzed and a new generation of “light reactors” that have not been tested in the US. Then he goes on to say with “a goal of building 100”. This is so off the charts as to be dismissable. That is, it is impossible. So why so over the top? BECAUSE THAT IS what John wants to do. That’s it. So what else does John want that is inconceivable to most of us? But if he was President of the US he could get just because he wanted it? War with Iran? War with Russia? More to the point a Florida surrounded by oil wells? A move to cripple the solar and wind turbine markets? T. Boone Pickens Plan? What?

That is pretty scary….

John McCain And The Myth Of The Multiple Nukes – A goal is 100 Nukes or Double our current capacity

I wrote in the title of a previous post that John McCain just doesn’t get it about energy policy. A commenter took me to task for attacking McCain personally not his policies. Well lets see, he wants to build 45 Nukes to start. That would come with a price tag of 150 billion$$s and if you have looked at the credit markets lately, that just makes no sense. Georgia Power is about to try to “self-finance” 1 Nuke at a cost of 3 billion$$s. I have serious doubts about whether they shall succeed.

http://www.johnmccain.com/Informing/Issues/17671aa4-2fe8-4008-859f-0ef1468e96f4.htm

John McCain Will Put His Administration On Track To Construct 45 New Nuclear Power Plants By 2030 With The Ultimate Goal Of Eventually Constructing 100 New Plants. Nuclear power is a proven, zero-emission source of energy, and it is time we recommit to advancing our use of nuclear power. Currently, nuclear power produces 20% of our power, but the U.S. has not started construction on a new nuclear power plant in over 30 years. China, India and Russia have goals of building a combined total of over 100 new plants and we should be able to do the same. It is also critical that the U.S. be able to build the components for these plants and reactors within our country so that we are not dependent on foreign suppliers with long wait times to move forward with our nuclear plans.

:}  So where to start?We do not have the skilled workers to build them.We don’t have the money to build them.

We don’t have safe sites to put them on.

We don’t have the fuel to put in them.

We couldn’t afford the electricity they would produce.

Not to mention all the energy that we would have to burn to build them and to fuel them.

But the worst mistake here is that we have NO PLACE TO put the waste.

All this to just boil water?

So we leave our great grandchildren with the legacy of radioactive waste, financial debt and expensive energy that they can’t use?!? Look if there was a metal or and an award for NOT GETTING it, John McCain should be awarded it immediately.

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Drill Here, Drill Now – The disconnect between the industry and its flacks

hahahahahahaha:

http://wilderness.org/ourissues/wilderness/

Andrew Bush sends this along

Dear reporter/editor:

Given today’s announcement that Congress will allow the offshore drilling ban to expire—opening many more acres to drilling—we thought you would be interested in the story below from yesterday’s business wire, “Chesapeake Energy (CHK) Plans To Reduce Drilling Budget.” In a nutshell, before the dust has settled on the oil and natural gas industry’s “drill, baby, drill” multi-million dollar advertising campaign, the country’s largest independent natural gas producer has announced that it is curtailing – or “shutting in” — its near-term natural gas production, and slashing its drilling budget by 17%. All because the price of gas to consumers has apparently drifted “too low” for consumers, in the company’s view.

“ Chesapeake ’s actions and attitude typify the ‘public be damned’ manner in which the oil and gas industry in this country operates,” said Wilderness Society Senior Policy Advisor Dave Alberswerth . “American consumers and Congress were convinced by the industry’s ‘drill baby drill’ campaign that the key to lowering energy prices was “more drilling”, at the same time that one of our nation’s largest gas producers was apparently laying plans to curtail its own drilling and production operations for fear that their profits weren’t high enough. American consumers should take note of Chesapeake’s actions, because this company is among those that have promoted the notion that American has abundant natural gas supplies, that all we have to do is drill for it, and has even urged Congress to subsidize greater use of natural gas to fuel our vehicle fleet.” Alberswerth noted that although most of Chesapeake ’s operations are on non-federal lands, it is likely that other natural gas producers who do have operations on federal lands will follow suit.

“ Chesapeake ’s action is another good example of why increasing domestic drilling is an inefficient solution for reducing energy prices,” said Wilderness Society Economist Pete Morton , who also noted that after eight years of the Bush drilling boom and more than 170,000 new natural gas wells, energy prices are still high. “Whether Chesapeake ’s action is driven by high extraction costs or a profit-maximizing desire to keep prices high for consumers, it reinforces the need for a thorough economic analysis of proposals to increase domestic drilling.”

Contact:  Dave Alberswerth (202/429-2695) and Dr. Pete Morton (303/650-5818, ext 105), The Wilderness Society

http://www.streetinsider.com/Corporate+News/Chesapeake+Energy+(CHK)+Plans+To+Reduce+Drilling+Budget/4008656.html

Chesapeake Energy (CHK) Plans To Reduce Drilling Budget 

September 22, 2008

Chesapeake Energy Corporation (NYSE: CHK) announced plans to reduce its drilling capital expenditure (capex) budget during the second half of 2008 through year-end 2010 by approximately $3.2 billion, or 17%, in response to an approximate 50% decrease in natural gas prices since June 30, 2008 and concerns about the possibility of an emerging U.S. natural gas surplus in advance of increased demand from the U.S. transportation sector. Of the $3.2 billion drilling capex reduction, $0.8 billion is attributable to the drilling capex carry associated with the company’s recently closed Fayetteville Shale joint venture with BP America (NYSE: BP), $0.5 billion is attributable to the drilling capex carry anticipated in a Marcellus Shale joint venture and $1.9 billion is attributable to reduced drilling activity. The company plans to reduce its current operated drilling rig count of 157 rigs to approximately 140 rigs by year-end 2008 and expects to keep its rig count relatively flat through 2009 and 2010.

In addition to reducing drilling capex, Chesapeake has elected to temporarily curtail a portion of its unhedged natural gas production in the Mid-Continent region due to unusually weak wellhead natural gas prices that are substantially below industry breakeven costs. The company has curtailed approximately 100 million cubic feet (mmcf) per day of net natural gas production (approximately 125-150 mmcf per day gross) and plans to restore this production once natural gas prices recover from recently depressed wellhead price levels of $3.00 – 5.00 per thousand cubic feet (mcf). This curtailment represents approximately 4% of the company’s current net natural gas and oil production capacity of over 2.3 billion cubic feet of natural gas equivalent per day (92% natural gas).

The company has also reduced its full-year 2008 production growth estimate to 18% from 21% to account for the temporary curtailment discussed above, the sale of 45 million cubic feet of natural gas equivalent (mmcfe) per day of production associated with its Fayetteville Shale joint venture with BP, the anticipated sale of 60 mmcfe per day of production in the 2008 fourth quarter associated with the company’s fourth volumetric production payment (VPP) and shut-ins in the 2008 third quarter of onshore production associated with natural gas processing plant limitations as a result of damage by Hurricane Ike.

Additionally, as a result of reduced drilling activity levels announced today, the company has lowered its anticipated production growth forecasts in 2009 and 2010 to 16% per year from 19% per year. At these levels, Chesapeake believes its production growth will still remain at or near the top of its large-cap peer group, particularly in light of continued strong drilling results from its shale plays. Notably, during the month of September, Chesapeake completed three additional horizontal Haynesville Shale wells with average per well initial production rates exceeding 10 mmcfe per day bringing its total horizontal Haynesville Shale wells on production to 14.[SM]

Drew F. Bush

Communications Associate

The Wilderness Society

drew_bush@tws.org

Phone: (202)-429-7441

Fax: (202)-429-3945

The Wilderness Society’s mission is to protect wilderness

and inspire Americans to care for our wild places.

Oil Speculators Are the Modern Robber Barons – State Journal Register letter to the editor hits the tap on the barrel head

I swore on my mother’s grave (sorry mom) that I would not put up a post about oil prices until they fell below 100$$ per barrel because I was tired of people pointing fingers at each other because the whole system is rigged. The Chinese were hoarding diesel for the Olympics (now over), the speculator’s contracts were lapsing (August 31 and September 15), the Senate is going to have hearings in the middle of September (hint: it will all be back to normal by then), and when the oil prices fall the gasoline refiners will lose their cover and half to ramp up aritificially low production levels to drop the price of gasoline. BUT not before 300 billion $$$ are vacuumed out of poor people’s pockets. Boy that took a long time to say! Then I saw this letter and was re-energized to put the facts out there one more time, so maybe people would wake up and just stop using those nasty stinky oil products.

http://www.sj-r.com

Things could be done

to reduce price of gasoline

The recent letters regarding the why and wherefores of the price of oil and

 gasoline prompted me to join in the debate.

First, a few observations:

Since 2003, investments in commodity index funds have increased

 from $13 bil­lion to $$260 billion, a 20-fold increase.

The Commodity Exchange Commission has already set

limits on the holdings any one investor can have in a commodity

to prevent speculation. But the larger institu­tional investors

(known as “swap dealers”) such as Goldman Sachs have exploited an

exemption that allows them to bypass those limits if they make trades through

brokers or dealers.

The majority of these trades in the USA are made by a British company

 with head­quarters in Atlanta while all the trading takes place in

Chicago! They do have a rep in London, Robert Reid, who answers to Atlanta.

The intercontinental exchanges do not have to abide by the rules set up by

the New York Mercantile Exchange be­cause they are listed as a foreign company!

Last month Michael Masters, a portfolio manager, told Congress that index

speculators had bought the equivalent of 1.1 billion bar­rels of oil — eight times

 as much as the United States has added to the Strategic Petroleum Reserve

over the last five years!

Because of all this speculation the price of oil has reached $140 a barrel.

The speculators in oil futures obviously say it is sup­ply and demand that

is causing the rise in prices. Granted, there is a certain amount of this i

nvolved, but not in the USA. The demand or use of oil in the U.S. has

been stead for at least a decade.

The ex-president of NYMEX, appearing before a congressional committee

a few weeks ago stated that if margins, which are now 50 percent, were

increased, the price of oil would drop to approximately the marginal cost

of oil, which is between $60 and $70 per barrel. It was also stated that

these margins could be increased, accord­ing to NYMEX rules, during an

 emergency. I think this is an emergency! By the way, it was stated that this

could be done within a 30-day period.

P.S. Just recently, a bill that would put new limits on speculative trading

 in ener­gy commodities failed to get the two-thirds majority required.

Most Republi­cans objected to the bill — the vote was 276 to 151.

Eric Gregg Springfield

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Think Eric is crazy? Want to hear more names of the AMERICANS picking your pocket? Well okie dokie then.

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http://www.nader.org/index.php?/archives/1276-Stop-the-Oil-Speculators.html

Tuesday, May 27. 2008

Stop the Oil Speculators

What factors are causing the zooming price of crude oil, gasoline and heating products? What is going to be done about it?

Don’t rely on the White House—with Bush and Cheney marinated in oil—or the Congress—which has hearings that grill oil executives who know that nothing is going to happen on Capitol Hill either.


Last week the price of crude oil reached about $130 a barrel after spiking to $140 briefly. The immediate cause? Guesses by oil man T. Boone Pickens and Goldman Sachs that the price could go to $150 and $200 a barrel respectivly in the near future. They were referring to what can be called the hoopla pricing party on the New York Mercantile Exchange. (NYMEX)

Meanwhile, consumers, workers and small businesses are suffering with the price of gasoline at $4 a gallon and diesel at $4.50 a gallon. Suffering but not protesting, except for a few demonstrations by independent truckers.

A consumer and small business revolt could be politically powerful. But what would they revolt to achieve? Their government is paralyzed and is unable to indicate any action if oil goes up to $200 or $400 a barrel. Washington, D.C. is leaving people defenseless and drawing no marker for when it will take action.

Oil was at $50 a barrel in January 2007, then $75 a barrel in August 2007. Now at $130 or so a barrel, it is clear that oil pricing is speculative activity, having very little to do with physical supply and demand. An essential product—petroleum—is set by speculators operating on rumor, greed, and fear of wild predictions.

Over the time since early 2007, U.S. demand for petroleum has fallen by 1 percent and world demand has risen by 1.3 percent. Supplies of crude are so plentiful, according to the Wall Street Journal, “traders of physical crude oil say their market is suffering from too much supply, not too little.”

Iran, for instance, is storing 25 million barrels of heavy, sour crude oil because, in the words of Hossein Kazempour Ardebili, Iran’s oil governor, “there are simply no buyers because the market has more than enough oil.”

Mike Wittner, head of oil research at Societe Generale in London agrees. “There’s various signals out there saying for right now, the markets are well supplied with crude.”

Historically, oil has been afflicted with the control of monopolists. From the late nineteenth century days of John D. Rockefeller, and his Standard Oil monopoly, to the emergence of the “Seven Sisters” oligopoly, made up of Standard Oil, Shell, BP, Texaco, Mobil, Gulf and Socal, to the rise of OPEC representing the major producing countries, the “free market” price of oil has been a mirage. Despite the breakup of the Standard Oil company by the government’s trustbusters about 100 years ago, selling cartels and buying oligopolies kept reasserting themselves.

In an ironic twist, the major price determinant has moved from OPEC (having only 40% of the world production) and the oil companies to the speculators in the commodities markets. What goes on in the essentially unregulated New York Mercantile Exchange (NYMEX)—without Commodity Futures Trading Commission (CFTC) enforced margin requirements, and, unlike your personal purchases, untaxed—is now the place that leads to your skyrocketing gasoline bills. OPEC and the Big Oil companies reap the benefits and say that it’s not their doing, but that of the speculators. Gives new meaning to “passing the buck.”

Deborah Fineman, president of Mitchell Supreme Fuel Co. in Orange, New Jersey, summed up the scene: “Energy markets have been dictated for too long by hedge funds and speculators, who artificially manipulate the numbers for their own benefit. The current market isn’t based on the sound principles of supply and demand but it is being rigged by companies and speculators who are jacking up prices for their own greed.”

Harry C. Johnson, former banker who worked for many years inside Big Oil and ran his own small oil company in Oklahoma, blames the CFTC, the Department of Energy, the Administration, and Congress, as “asleep at the switch on an issue that is probably costing U.S. consumers $1 billion per day.”

He cites “some industry experts, who profit greatly from the high price of crude, and have stated openly that the worldwide economic price of crude, absent speculators, would be around $50 to $60 per barrel.

Imagine, our government is letting your price for gasoline and home heating oil be determined by a gambling casino on Wall Street called NYMEX. The people need regulatory protection from speculators and an excess profits tax on Big Oil.

In addition, a sane government would see the present price crises as an opportunity to expand our passenger and freight railroad capacity and technology.

A sane government would drop all subsidies and tax loopholes for Big Oil’s huge profits and other fossil fuels and promote a national mission to solarize our economy to achieve major savings from energy conservation technology, retrofitting buildings, and upgrading efficiency standards for motor vehicles, home appliances, industrial engines and electric generating plants.

Those are the permanent ways to achieve energy independence, reduce our trade deficit, create good jobs that can’t be exported and protect the environmental health of people and nature.

Those are the reforms and advances that a muscular consumer, worker and small business revolt can focus on in the coming weeks.

What say you, America?

Help The Environment – Join The Sierra Club Today

Sierra Club Insider

April 15, 2008: Earth Day: Save Money and Solve Global Warming Green Your World Victory for the Grand Canyon “Green” Nobel Prize Winner Introducing Green Works

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Earth Day: Save Money and Solve Global Warming
This Earth Day (April 22), we know money is tight, and that energy prices are part of the squeeze so many of us are feeling. And also this Earth Day the challenge of reversing climate change looms large. The good news: We can make progress on both fronts by being more energy efficient and investing in renewables. Even better, shifting from oil and coal to wind and solar and energy efficient technologies will help us build a clean-energy economy, create and keep jobs, end the control the oil companies and other countries have over us and ease global warming. We can do it — and you can help.Step one is to check out our energy-efficiency quiz and chart to see how much money you can save. Then watch our how-to videos and learn to install a low-flow showerhead or wrap a water heater. Do even more by installing solar equipment (for less than $1,000! ) or buying wind and solar power.Time to roll up your sleeves!

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Now How About the Rest of Your World?
You can have an even bigger impact when you help your office, local hospital, schools, or place of worship make better use of efficiency and renewables. You don’t have to reinvent the wheel!We’ve got inspirational success stories and guides (like the “Guide for Congregations “) to get you started. If you’d rather get your city greener, join our Cool Cities campaign where you’ll find great materials and a community of folks who are doing the same thing. Or buy some popcorn and host an Energy Film Festival in your community. And on Earth Day itself, why not volunteer with the Sierra Club in your town?

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Hey Mr. Green


A Grand Canyon Victory
On April 4, a federal judge issued a restraining order against a mining company and the Kaibab National Forest, halting uranium exploration on public lands within a few miles of Grand Canyon National Park. “We’re pleased that the judge recognized the importance of protecting the Canyon and the possible significant impacts this exploration could have,” said Sandy Bahr, director of the Club’s Grand Canyon Chapter.In December, the Kaibab National Forest had approved exploratory uranium drilling at up to 39 locations just south of the canyon. The Sierra Club, the Center for Biological Diversity, and the Grand Canyon Trust took the Forest Service to court in early March for violating the National Environmental Policy Act (NEPA) and failing to conduct a rigorous analysis of the cumulative impacts of drilling so close to a national treasure.Read more about the victory here.

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Winning the Gold(man) in Puerto Rico
Puerto Rican grandmother and homemaker Rosa Hilda Ramos has been awarded this year’s prestigious Goldman Environmental Prize, often called “the green Nobel.” In the shadow of polluting factories in Catano, a city across the bay from San Juan, Ramos led her community to successfully defeat a major polluter in court.She then helped direct the funds from the pollution fine to the permanent protection of Las Cucharillas Marsh, one of the last open spaces in the area and one of the largest wetlands ecosystems in the region. Ramos was nominated by the Sierra Club. Read more about her.

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Powerful Cleaning, Done Naturally
The Sierra Club would like to introduce Green Works, a breakthrough line of natural cleaning products that work as well as traditional cleaners without the harsh chemical fumes or residue. Made from plant- and mineral-based ingredients, Green Works products are a practical way for consumers to live a greener lifestyle without compromising performance.Learn more about Green Works and download a coupon for a discount on any Green Works product.

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Know someone who might be interested in the Sierra Club Insider? Help spread the word by using our online form to tell your friends, family, and co-workers about the Insider or simply forward this Insider on. (Some email clients strip the links out of emails when forwarded. If your email does this, you can also direct friends, family, and co-workers to our online version.)

EXPLORE

Get your Green Karma Here
Earth Day is next Tuesday — What have YOU done for Mother Nature lately? Score some major brownie points (or should we say “greenie” points?) with a week of building trails, restoring wildlife habitats, or digging in the dirt for archaeological remains on a Sierra Club Outings volunteer trip.

Not sure it’s for you? Read what Sunset magazine had to say about us.

Browse volunteer trips.


ENJOY

Calling Sierra Club Radio
Got some extra phone minutes? Dial (509) 895-2537 and you can listen to the latest episode of Sierra Club Radio wherever you are.

This week’s show features Australian pop star Missy Higgins talking about cutting back on carbon.


PROTECT

Spend to Save: Take the Pledge
This Earth Day, why not commit to spending some or all of your economic stimulus check on energy efficiency or renewables like solar and wind energy?By purchasing energy-efficient products, you can cut your energy use — and your energy bills. You’ll also reduce your carbon footprint and help fight global warming.

Take the pledge and join a discussion with others who have made that commitment.


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ADM Plans To Drill Pollution Away – One last place to pollute

As I have said before ADM’s plan to sequester carbon by deep well injection in Illinois is a bad idea. This is an experiment the outcome of which they can not predict. There are at least 2 Toxic Injection sites in Ohio and Oklahoma that they could build a pipeline to and not threaten the environment. A project in North Dakota took that approach and is doing (dare I say it) well.

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illinois environmental protection agency

1021 north grand avenue east, P.O. Box 19276, springfield, illinois 62794-9276-( 217) 782-3397 james R. thompson center, 100 west randolph, suite 11-300, chicago, IL 60601 – (31 2) 814-6026

rod R. blacojevich, governor   douglas P. scott, director

ILLINOIS EPA NO.: 1150155136

USEPA NO.: ILD984791459                                                  LOG NO.: UIC-143

NOTICE NO.: UIC-01-08                                                        DATE: August 2, 2008

PUBLIC NOTICE

UNDERGROUND INJECTION WELL PERMIT HEARING for ARCHER DANIELS MIDLAND CO., DECATUR

The Illinois Environmental Protection Agency (EPA) hereby gives notice of intent to issue an Underground Injection Control (UIC) permit to Archer Daniels Midland Co. of Decatur. The facility’s mailing address is 4666 Paries Parkway, Decatur, Illinois. Carbon dioxide (CO2) generated during fermentation at the facility’s ethanol plant will be compressed then injected through a deep injection well into the geological formation known as the Mt. Simon Sandstone. This formation extends from approximately 6500 feet below ground surface to approximately 8000 feet below ground surface and is capped by a confining layer of shale between 300 and 500 feet thick. The permit would allow construction and operation of a single deep injection well, 2 optional deep injection zone monitoring wells and 4 required shallow groundwater monitoring wells.

Interested citizens are invited to review copies of ADM’s permit application, Illinois EPA’s draft permit and technical fact sheet at the following location:

Reference Desk, Decatur Public Library 130 N. Franklin St. Decatur, IL 62523

A public hearing to address the proposed issuance of this UIC permit has been scheduled for 5 pm to 8 pm, September 16, 2008 in the Madden Auditorium at the Decatur Public Library. The hearing will be held in accordance with Illinois EPA’s “Procedures for Permit and Closure Plan Hearings” (35 111. Adm. Code 166) and 35 111. Adm. Code Section 705.182, copies of which may be obtained from the Agency Hearing Officer (listed below). Requests for special needs interpreters (e.g. sign or Spanish-speaking) must be made to the Agency Hearing Officer by August 20. 2008.

Written comments will be accepted from the public for 45 days before the hearing, at the hearing, and for 30 days after the hearing. Comments must be postmarked by midnight October 17, 2008. Comments and interpreter requests should be made to:

John Kim, Hearing Officer (#21)

Illinois EPA

1021 North Grand Ave. East, P.O. Box 19276

Springfield, Illinois 62794-9276

Phone 217/782-5544

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rockford – 4302 North Main Street, Rockford, IL 61103 – (815) 987-7760        des plaines – 9511 W. Harrison St., Des Plaines, IL 60016 – (847) 294-4000

elgin – 595 South State, Elgin, IL 60123 – (847) 608-3131          PEORIA-5415 N. University St., Peoria, IL 61614 – (309) 693-5463

bureau of land peoria – 7620 N. University St., Peoria, IL 61614 – (309) 693-5462        champaign – 2125 South First Street, Champaign, IL 61820 – (21 7) 278-5800 springfield – 4500 S. Sixth Street Rd, Springfield, IL 62706 – (217) 786-6892         collinsville – 2009 Mall Street, Collinsville, IL 62234 – (618) 346-5120

marion – 2309 W. Main St., Suite 116, Marion, IL 62959 – (618) 993-7200

printed on recycled paper


 

All comments submitted will become part of the Administrative Record and will be evaluated by Illinois EPA prior to making the final permit decision. The Agency will respond to comments on the draft permit, specify which provisions, if any, of the final permit may have been changed and indicate whether additional documents have been included in the Administrative Record. Anyone who submits written comments will be notified of the final permit decision. Inquiries about the permit appeal process should be directed to the Public Involvement Coordinator listed below.

The permit application, draft permit, related information and all data submitted by the applicant, as part of the Administrative Record, are now available for public inspection Monday through Friday between 9:00 a.m. and 5:00 p.m. at the Agency’s headquarters by appointment only. Please contact:

Mara McGinnis, Public Involvement Coordinator (#5) Illinois EPA

1021 North Grand Ave. East, P.O. Box 19276 Springfield, Illinois 62794-9276 Phone 217/524-3288 PLEASE TELEPHONE AHEAD FOR AN APPOINTMENT TO VIEW THE DOCUMENTS.

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If this goes bad…it goes very bad.