Fareed Zakaria

Tue, 2012-10-23 05:00Steve Horn
Steve Horn's picture

As You Sow: Coal Investments, Shale Gas, a Bad Bet

In a missive titled “White Paper: Financial Risks of Investments in Coal,” As You Sow concludes that coal is becoming an increasingly risky investment with each passing day. The fracking boom and the up-and-coming renewable energy sector are quickly superseding King Coal's empire as a source of power generation, As You Sow concludes in the report.

As You Sow chocks up King Coal's ongoing demise to five factors, quoting straight from the report:

1. Increasing capital costs for environmental controls at existing coal plants and uncertainty about future regulatory compliance costs

2. Declining prices for natural gas, a driver of electric power prices in competitive markets

3. Upward price pressures and price volatility of coal

4. High construction costs for new coal plants and unknown costs to implement carbon capture and storage

5. Increasing competitiveness of renewable generation resources

Mon, 2010-08-16 13:03Brendan DeMelle
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Climate Skeptic Pat Michaels Admits On CNN Forty Percent of His Funding Comes From Oil Industry

Notorious climate skeptic Pat Michaels of the CATO Institute finally admitted openly on CNN this weekend that 40 percent of his funding comes from - wait for it - Big Oil. 

DeSmogBlog readers have known for years about Michaels’ long-time association with a network of at least eleven think tanks and industry front groups funded by ExxonMobil. Many of these same outlets have received funding from other oil interests like the Koch Family Foundations.

Michaels’ admission that he receives around 40 percent - his guess - of his funding from Big Oil is important, because he is quoted widely in the media for his skepticism about manmade climate change.  As the ExxonSecrets profile of Pat Michaels sums up well, he is “possibly the most prolific and widely-quoted climate change skeptic scientist.”

Fareed Zakaria deserves a round of applause for challenging Michaels directly to cough up a figure for how much oil money he receives to defend the status quo fossil fuel addiction and to confuse the public about the threat of climate change.  Far too few journalists bother to ask that question, and Zakaria has sent a much needed reminder to journalists - it is your job to expose the potential conflicts of interest among your interviewees.  Zakaria gets an A+ for outing Michaels’ oily funding.

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