Category Archives: fossil fuels and the United States’ Future

Oil Dives Below 63$$ A Barrel – We are all going to die!

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Now we shall see how this game played by a few very wealthy Americans plays out. There was a reason Glass-Steagel was put in place in the 1930’s The belief was that some commodities were too important to ALL Americans.  Food, housing and fuel were deemed the “Basics of Life”.  So the market was regulated to make sure people could not gamble on those commodities futures. Well as we have seen with Housing. The genius of Wall Street came up with an unregulated way to get around the prohibitions in the housing market. When they got bored with that, and the US dollar plunged they decided to buy Long in the Futures Market (something prohibited until 1999) and prices skyrocketed. Well to every up THERE IS A DOWN. As the Saudi’s warned that DOWN could be way down. We could have oil fluctuating between 150$$ and 40$$ a barrel for the next few years. I think at some point in those wild swings Industry comes to a stop.

These people are just spoiled rotten filthy rich dummies. They all should be in jail.

http://ca.news.yahoo.com/s/capress/081022/business/oil_prices 

Price of oil falls more than

$5 below US$67 on

US recession fears

Wed Oct 22, 3:26 PM

     

 

By Madlen Read, The Associated Press

NEW YORK – Oil prices tumbled below US$67 a barrel to 16-month lows Wednesday after the government reported big increases in U.S. fuel supplies – more evidence that the economic downturn is drying up energy demand.

The Energy Information Administration said crude inventories jumped by 3.2 million barrels last week, above the 2.9 million barrel increase expected by analysts surveyed by energy research firm Platts. Gasoline inventories rose by 2.7 million barrels last week, and inventories of distillates, which include heating oil and diesel, rose by 2.2 million barrels.

Over the last four weeks, the EIA said, motor gasoline demand was down 4.3 per cent from the same period last year. Distillate fuel demand was down 5.8 per cent, and jet fuel demand was down 9.2 per cent.

“The main theme here that’s driving this market into new low ground is demand deterioration,” said Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates. “As we begin to see evidence that demand is levelling – it doesn’t have to increase, just level – then we can start discussing a possible price bottom. But it appears premature at this point.”

In mid-afternoon trading, light, sweet crude for December delivery fell $5.52 to $66.66 on the New York Mercantile Exchange. The last time a front-month contract traded below $67 a barrel was June 2007.

The energy markets have also been weighed down by the weak stock market, as investors grow more pessimistic about how long it will take the economy to recover from the current global financial turmoil.

On Tuesday, DuPont, Sun Microsystems and Texas Instruments reported disappointing earnings and bleak forecasts, sending the Dow Jones industrials average down 2.5 per cent. The Dow was down another four per cent by Wednesday afternoon following more gloomy reports from the soon-to-be acquired bank Wachovia Corp., drugmaker Merck & Co., and insurer Travelers Cos.

“Oil is now highly correlated with the stock market,” said Clarence Chu, a trader with market maker Hudson Capital Energy in Singapore. 

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Americans are not the only one worried:

http://news.xinhuanet.com/english/2008-10/17/content_10206571.htm 

Crude futures dip below $70 on demand concerns
www.chinaview.cn 2008-10-17 06:45:59   Print
    NEW YORK, Oct. 16 (Xinhua) — Crude futures dipped below 70 U.S. dollars a barrel on demand concerns Thursday after the U.S. government reported a unexpected rise in crude stockpile.    Light, sweet crude for November delivery plunged 4.69 dollars to settle at 69.85 dollars a barrel on the New York Mercantile Exchange after hitting 68.57 dollars, a level not seen since June 27, 2007.    Crude prices have declined more than half its July record high of 147.27 dollars a barrel due to investors’ increasing concerns that a global economic recession could curd energy consumption.

    Demand concerns

    “The price of a barrel of oil continued to decline today as fears of declining demand among market participants persist,” Wall Street Strategies’ senior research analyst Conley Turner told Xinhua.

    The weakening global economy and turmoil in the credit markets have clouded the outlook for world oil consumption.

    The Philadelphia Federal Reserve said regional manufacturing conditions weakened in October. The bank’s regional index came in at a negative 37.5 compared with a positive 3.8 for September.

    On Monday, Goldman Sachs cut its year-end forecast of oil to 70dollars a barrel from 115 dollars and lowered its price outlook for the end of 2009 to 107 dollars from 125 dollars per barrel amid global financial crisis.

    “The fact of the matter is that demand destruction is taking place in the United States as for the rest of the G7, for that matter as these economies teeter on the brink of recession,” said Turner.

    “While there may be some ebbing in the demand pressures out of India and China, it not going to be as much as what is occurring in the Unite States,” he added.

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 Even the Saudis and the Russians are concerned:

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http://bh.heraldinteractive.com/business/general/view/2008_10_22_Oil_falls_below__70_on_US_recession_fears/

The Organization of Petroleum Exporting Countries, which accounts for about 40 percent of global oil supply, has signaled it plans to announce an output quota reduction at an emergency meeting Friday in Vienna.

But investors are skeptical about how much of the cut will be implemented, given the history of OPEC members exceeding their production quotas.

“There should be a short-term boost to prices when they announce a cut on Friday,” Chu said. “But OPEC production has always been above their quotas, so there’s a credibility problem.”

Crude oil is down 53 percent from its peak of $147.27 reached in mid-July.

A stronger dollar this week has also pushed oil prices lower. Investors often buy commodities like crude oil as an inflation hedge when the dollar weakens and sell those investments when the dollar rises.

The euro fell below $1.28 for the first time in nearly two years on Wednesday. The 15-nation euro dipped as low as $1.2736 in morning trading before rising slightly to $1.2873, down from $1.3003 late Tuesday in New York.

Investors are also watching for signs of slowing U.S. demand in the weekly oil inventories report to be released Wednesday from the U.S. Energy Department’s Energy Information Administration. The petroleum supply report was expected to show that oil stocks rose 2.9 million barrels last week, according to the average of analysts’ estimates in a survey by energy information provider Platts.

The Platts survey also showed that analysts projected gasoline inventories rose 3.0 million barrels and distillates went up 600,000 barrels last week.

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The Russians are threatening to go along. What if they were actually to join OPEC! Way to go Wall Street geniuses. Bravo! 

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 http://www.telegraph.co.uk/finance/financetopics/oilprices/3252279/Opec-to-cut-oil-supply-by-1.5m-barrels-a-day.html

Members of the Opec oil producers’

cartel have decided to cut production

by 1.5m barrels a day from November

in a bid to stem a collapse in prices.

By Russell Hotten, Industry Editor
Last Updated: 4:14PM BST 24 Oct 2008

This latest Opec meeting, brought forward from next month because of the severity of the slide in prices, comes as Russia shows increasing interest in cooperating with the organisation.

Russia, the world’s second largest oil producer after Saudi, has traditionally had representatives at Opec meetings but has never publicly tracked the organisations cuts and increases in production quotas.

But on Wednesday Russia’s Deputy Prime Minister Igor Sechin said his country may build a margin of spare oil production capacity as a means of influencing prices. However, he said Russia would not join Opec.

Nick Day, chief executive of the risk management consultancy Diligence, warns that any move by Russia to cooperate with Opec is fraught with political dangers. “One of Russia’s objectives might be to counter America’s influence on Saudi Arabia’s control of Opec. You could see Russia driving a wedge between Opec, with support from Iran and Venezuela.” He believes that if Russia’s oil revenues are reduced, Moscow might try to recoup money by raising the price of gas it exports to Europe.

Opec comprises 12 members: Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela. The thirteenth, Indonesia, is due to leave the organisation at the end of 2008.

Green House Is Museum Piece In Chicago – To bad that is the only place that will take it in

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So my question is why didn’t they build it next door and let a real family live in it?

http://abcnews.go.com/Technology/SmartHome/popup?id=6074047

Chicago’s Greenest Home

This is what green living looks like. To showcase the future of eco-friendly architecture, Chicago’s Museum of Science and Industry has built a three-story “green” home in its backyard. On display from May 8, 2008 to Jan. 4, 2009, the Smart Home: Green + Wired exhibit not only features sustainable design and recycled materials, it also includes cutting-edge “smart” technology. With help from Wired magazine, the exhibit incorporates automation systems that save homeowners time, reduce energy consumption and enhance entertainment. For more information, visit msismarthome.org.
(JB Spector/Museum of Science and Industry)

 ht_smart_home_081020_ssh.jpg

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Please see the entire story for the slide show. There are 13 pictures in all.

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 http://www.thedailygreen.com/green-homes/eco-friendly/chicago-green-building-exhibit-46010908

Yesterday, on its 75th anniversary, Chicago’s much-praised Museum of Science and Industry announced construction of a 2,500 square-foot green home, reports the Chicago Sun Times. The home, slated for the museum’s east lawn, is designed to be a showcase for green living.

The 2-bedroom, 2-bath pre-fabricated house will feature a number of green building designs, including a gray water recycling system that redirects filtered sink water into the toilets. The toilets will even have two buttons to save water when only a little is needed, something that will be quite familiar to many Australian and European visitors.

The home will also have cement siding, energy-efficient LED light fixtures, insulating triple-pane windows, landscaping chips made of peach pits, recycled ceramic tiles and a green roof. It will be powered by solar and wind energy.

This “Smart Home” is scheduled to open May 8 and run through January 2009. It will cost guests $10.

 smarthome-md.jpg

http://www.nahb.org/news_details.aspx?newsID=7865

 Called the mkSolaire™, the home features family-friendly interior architecture and shows some of the possibilities and benefits of energy-efficient heating, ventilation and air-conditioning systems and earth-friendly building materials.

The “Smart Home: Green + Wired” exhibit and home tours run through Jan. 4. Some detailed information on the exhibit and home features is available on the museum’s Web site.

The home was manufactured and put in place by All American Homes of Decatur, Ill. and designed by Michelle Kaufmann Designs of Oakland, Calif.

The exhibit illustrates why many in the green building movement are embracing modular building systems. Modular construction, with its efficient use of materials, labor and energy, has been environmentally friendly almost since its inception.

In addition, modular construction can shorten the construction cycle by as much or more than two-thirds when compared to conventional site construction – reducing energy usage during construction and potentially saving on financing.

 sept_23_bsc_home1.jpg

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Please note quoting the late great Robert Palmer: The lights are on but no one is home. Energy conservation and a model home right?

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

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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

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 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

Presidential Energy Policy – What if Community Energy Systems was running for President?

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What would our collective Presidential Energy Policy look like? :

1. Ban the sale of Gasoline and Diesel as of January 2015, except 1 gallon containers and Heavy Transport Trucks.

2. Ban Diesel and Gasoline sales to Heavey Transport Trucks by 2018.

This would allow everyone to keep mowing their grass and having their backyard barbeques while the USA shifts its transportation capacity to cleaner safer fuels.

3. Ban the Burning of coal in Electrical Generating Stations in 2020.

That would require switching all those plants to another fuel source, probably natural gas.

4. Fund 3 Hot Rocks Power Stations. One in California to replace Diablo Nuclear Power Plant, One to replace Clinton Nuclear Power Plant in Illinois and one to replace Savannah Nuclear Power Plant in Georgia. This would begin the proceess of Converting our economy to geothermal energy on existing sites where Nukes should not be in the first place.

This would proceed for all Nuclear Power Plants in the nation.

 5. Create and support manditory energy conservation programs in both the residential market and the commercial market to reduce their consumption by 50%.

Lets insulate and modernize our world.

6. Order all Landfill operaters and Waste Haulers to begin the mining of all landfills and dumps for metals, glass, plastics and and paper products. Compost the rest.

7. Mandate that all materials be recycled with the goal of a steady state materials economy in the USA by 2020

8. Using tax incentives to increase the Market share of solar, geothermal and wind generation by 25% per year until the USA is largely energy self sufficient.

9. Create a maglev train system in the USA

10. Create a light rail system in the top 50 major markets.

11. Ban the sale of diesel fuel to the railroads in 2025.

12. Open the Yucca Mountain repository by Executive Order if necessary and order all spent nuclear materials to be stored there.

To pay for this I would cut the military budgets of the following services: reduce the Navy to 2 active Fleets, one on the West Coast, one on the East Coast; reduce the Army to 4 batallions; reduce the Airforce to 4 Airwings; leave the Marines alone.

To pay for these policies I would slash the Pentagon staff in half, and the “spying budget” by 1/3.

To pay for these policies I would close the Federal Office of Education. Then I would start in on some of the stupid Federal Budget items that we as tax payers fund, like closing the National Helium Repository in Texas. We sure won’t need the Strategic Petroleum Resevre.

This program would create million of new good paying jobs. Put this country back to work and not flipping burgers at McDonalds.

Barack Obama’s Global Warming Policies – OH he calls it Climate Change as well

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Obama’s Climate Change Initiatives are kinda short, but at least he addresses energy conservation. This in a country that should only use 9% of the world’s energy but uses 25% instead.

 http://my.barackobama.com/page/content/newenergy_more#emissions

Reduce our Greenhouse Gas Emissions 80 Percent by 2050

  • Implement an economy-wide cap-and-trade program to reduce greenhouse gas emissions 80 percent by 2050.The Obama-Biden cap-and-trade policy will require all pollution credits to be auctioned, and proceeds will go to investments in a clean energy future, habitat protections, and rebates and other transition relief for families.
  • Make the U.S. a Leader on Climate Change. Obama and Biden will re-engage with the U.N. Framework Convention on Climate Change (UNFCC) — the main international forum dedicated to addressing the climate problem. They will also create a Global Energy Forum of the world’s largest emitters to focus exclusively on global energy and environmental issues.

« Return to New Energy for America

 Create Millions of New Green Jobs

  • Ensure 10 percent of Our Electricity Comes from Renewable Sources by 2012, and 25 percent by 2025.
  • Deploy the Cheapest, Cleanest, Fastest Energy Source — Energy Efficiency.Obama and Biden will set an aggressive energy efficiency goal — to reduce electricity demand 15 percent from projected levels by 2020.
  • Weatherize One Million Homes Annually. Obama and Biden will make a national commitment to weatherize at least one million low-income homes each year for the next decade, which can reduce energy usage across the economy and help moderate energy prices for all.
  • Develop and Deploy Clean Coal Technology.Obama’s Department of Energy will enter into public private partnerships to develop five “first-of-a-kind” commercial scale coal-fired plants with clean carbon capture and sequestration technology.
  • Prioritize the Construction of the Alaska Natural Gas Pipeline. As president, Obama will work with stakeholders to facilitate construction of the pipeline. Not only is this pipeline critical to our energy security, it will create thousands of new jobs.

« Return to New Energy for America

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Well at least with Obama it is short enough that people will likely read through it. Still there is the nasty Cap and Trade stuff that will do no good for anyone. We are up against some very hard changes that we need to make in our industrial infastructure. Coal and Oil just won’t cut it as energy sources anymore. Clean Coal technology is a myth. While Obama talks about cutting emmission by 80% he does not say whether that is current emmissions or the 1990 emmission levels. Again there is just enough GOOD energy policy here to give one hope, but enough BAD energy policy here to think that he is pandering again.

AND the Winner is? Try back on Monday this has tuckered me out. 

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

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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 PolicyJohn 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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Barack Obama’s Energy Policies – The Pandering continues

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I mean look, Oil Producers are just that and OIL is just a commodity. What we really need to do is to quit using the stuff for things like transportation, making plastics and heating homes. The last is just dumb. Every last fuel oil heated home should be outlawed. Their equipment yanked and recycled. What we need in this country is a rational energy policy that shifts us to solar, wind, geothermal and tidal energy. 1/2 of this country’s population lives on or near a coast line and yet NO ONE is even mentioning tidal power. So this is what you say if you want to be elected President.

http://my.barackobama.com/page/content/newenergy_more#oil

Eliminate Our Current Imports from the Middle East and Venezuela within 10 Years

  • Increase Fuel Economy Standards. Obama and Biden will increase fuel economy standards 4 percent per year while providing $4 billion for domestic automakers to retool their manufacturing facilities in America to produce these vehicles.
  • Get 1 Million Plug-In Hybrid Cars on the Road by 2015. These vehicles can get up to 150 miles per gallon. Barack Obama and Joe Biden believe we should work to ensure these cars are built here in America, instead of factories overseas.
  • Create a New $7,000 Tax Credit for Purchasing Advanced Vehicles.
  • Establish a National Low Carbon Fuel Standard. Obama and Biden will establish a National Low Carbon Fuel Standard (LCFS) to reduce the carbon in our fuels 10 percent by 2020. Obama and Biden will also require 60 billion gallons of advanced biofuels to be phased into our fuel supply by 2030.
  • A “Use it or Lose It” Approach to Existing Oil and Gas Leases. Obama and Biden will require oil companies to develop the 68 million acres of land (over 40 million of which are offshore) which they have already leased and are not drilling on.
  • Promote the Responsible Domestic Production of Oil and Natural Gas. An Obama-Biden administration will establish a process for early identification of any infrastructure obstacles/shortages or possible federal permitting process delays to drilling in the Bakken Shale formation, the Barnett shale formation, and the National Petroleum Reserve-Alaska.

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I like the “use it or lose it” part. Especially since the International Energy Organization is going to force re-estimation of proven, know and simple reserves to reflect reality. But one could ask for so much more. How about declaring Hanford, WA a National Sacrifice Zone and immediately storing all low level radioactive material there? 

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

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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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Barack Obama’s Energy Policies – Why pander to the Public?

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I find it a bit galling that Obama starts off his Energy Policy section with the section below. Yes everyone has been hurt by speculation enabled by Phil and Wendy Gramm who canceled the depression era Glass-Steagall Act. This brought us ENRON and then all the commodity speculation after the dollar shed it’s value like a winter coat on a summer day. But DEAL with that! Double the oil companies taxes if you must, but do it up front. Windfall Profit taxes never produce any money and it is sooooo Jimmy Carter.

If you wanted bold energy policy why not announce that you were going to ban the sale of gasoline by 2015? That would drop the price of gasoline into the toilet, divert oil to our real needs which is pharmacueticals and restructure our energy future in one clean break. If you wanted real productive energy policy, follow that with a ban on using oil and natural gas in plastics. That would leave most of the oil and coal where it belongs…IN the ground. Instead we get this:

 http://my.barackobama.com/page/content/newenergy_more#relief

Provide Short-term Relief to American Families

  • Enact a Windfall Profits Tax to Provide a $1,000 Emergency Energy Rebate to American Families.Obama and Biden will enact a windfall profits tax on excessive oil company profits to give American families an immediate $1,000 emergency energy rebate to help families pay rising bills. This relief would be a down payment on the Obama-Biden long-term plan to provide middle-class families with at least $1,000 per year in permanent tax relief.
  • Crack Down on Excessive Energy Speculation. Barack Obama and Joe Biden will close energy industry market loopholes and increase transparency to prevent traders from unfairly lining their pockets, while driving up oil prices at the expense of the American people.
  • Swap Oil from the Strategic Petroleum Reserve to Cut Prices. With oil prices doubling in the past year, Barack Obama and Joe Biden believe we have an economic emergency that requires a limited, responsible swap of light oil from the Strategic Petroleum Reserve (SPR) for heavy crude oil to help bring down prices at the pump.

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