Money

Tue, 2012-09-11 10:37Farron Cousins
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As BP Tar Balls Litter Gulf Coast, Oil Giant Sells Off Gulf Of Mexico Assets

It’s been a little over two weeks since Hurricane Isaac struck the Gulf Coast, leaving flooding and wind damage in its wake. But one of the side effects of the storm that has gone largely under-reported are the tar balls that are now littering beaches all along the Gulf Coast.

Beaches from Louisiana to Florida have seen the toxic, sticky tar balls rolling in with the surf, and while some have questioned whether the tar balls are actually from BP’s Macondo well blowout, Auburn University researchers have confirmed today that they are a match.

The tar balls began washing up only days after the U.S. Department of Justice released a memo blaming BP’s gross negligence for the Deepwater Horizon oil rig explosion that killed 11 men and subsequently caused close to 5 million gallons of oil to leak into the Gulf of Mexico.

In the wake of the DOJ’s accusations, and the continuous presence of tar balls that are linked directly back to BP’s negligence, it comes as no surprise that the oil giant has decided to sell off billions of dollars worth of their assets in the Gulf of Mexico.

Mon, 2012-08-27 12:41Farron Cousins
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Fuel Economy Standards To Save U.S. Consumers Billions, Create Jobs, Yet Republicans Say Too Expensive

A proposed rule by the Obama Administration to raise fuel economy standards for cars and “light-trucks” is facing mounting attacks by Republican lawmakers. The proposed rule would require all newly manufactured automobiles that fall under the car or light truck category to achieve a minimum gas mileage of 54.5 miles per gallon by the year 2025.

The crusade against the new CAFE standards is being led by Republican Darrell Issa, the chairman of the House Committee on Oversight and Government Reform. Issa claims that the new standards amount to “coercion” of the auto industry. Rep. Issa has received more than $188,000 from the oil industry during his career, according to the Center for Responsive Politics.

Issa’s statements show how out of touch he truly is with both economics and business, as the new standards were the result of cooperation between the Obama Administration and the auto industry itself.

The new fuel economy standards have been approved by Ford, GM, Chrysler, BMW, Honda, Hyundai, Jaguar, Land Rover, Kia, Mazda, Mitsubishi, Nissan, Toyota and Volvo, who together control 90% of the United States’ auto sales market.

Thu, 2012-08-16 12:31Farron Cousins
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Fracking Industry Paying Off Scientists For "Unbiased" Safety Studies

As a whole, Americans have an unfortunate tendency to distrust scientists. The number of those who distrust science and scientists is skewed heavily by ideology, with self-identified “conservatives” overwhelmingly saying that they don’t trust science. DeSmogBlog’s own Chris Mooney has spent an enormous amount of time and energy devoted to finding out why science has become so controversial, and has compiled a great new book explaining why certain sectors of the U.S. population are more prone to denying many scientific findings.

And while most of the distrust that Americans have for scientists and science in general is completely without warrant, there are times when it is reasonable and often necessary to question the findings of scientists. Especially when the money trail funding certain science leads us right back to the oil and gas industry.

Five years ago, the ExxonMobil-funded American Enterprise Institute began offering large cash incentives to scientists willing to put their conscience aside to undermine studies that were coming out regarding climate change. The dirty energy industry knew that these studies would put their well-being at risk because they were responsible for so much of the global warming emissions, so they had to open their wallets to scientists who were more concerned with their finances than the well being of the planet.

A similar scenario played out in the months following BP’s Gulf of Mexico oil disaster. BP arranged meetings with scientists and academics all along the Gulf Coast, offering them $250 an hour to report on the oil spill, as long as the reports weren’t negative. This also would have allowed the oil giant an advantage in future litigation, by creating a conflict of interest for scientists that might otherwise testify against the company.

And then we have the media’s role in all of this, with 'experts for hire' like Pat Michaels allowed to pollute the public conversation with disinformation.

Mon, 2012-08-13 10:04Farron Cousins
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What To Expect When You’re Electing: Representative Paul Ryan

With the selection of Wisconsin Republican Representative Paul Ryan has his running mate, Mitt Romney has effectively pushed his campaign into the climate change denying fringe. While Romney hasn’t been considered a friend of the environment since he began running for national office, his tendency towards flip-flopping made some of his more extreme, anti-environment positions rather toothless. But Paul Ryan is someone that isn’t just all talk, and what he’s saying will be a disaster for our environment.

While Ryan isn’t necessarily a complete climate science denier, he is certainly classified as a “skeptic,” and oftentimes has used anecdotal evidence to say that we’re making too much of a fuss over something that may or may not be happening.

Let’s start by following the money on Rep. Paul Ryan. Since 1989, he has received $65,500 from Koch Industries, making them his sixth largest campaign donor. In total, he has pulled in a little over $244,000 from the oil and gas industries.

Those finances are clearly represented in his voting history in Congress. Here are a few of Ryan’s most anti-environment, pro-industry votes since being elected:

2000 – Voted against implementing Kyoto Protocol
2001 – Voted against raising fuel economy standards
2001 – Voted against barring oil drilling in ANWR
2003 – Voted to speed up “forest thinning” projects
2005 – Voted to deauthorize “critical habitats” for endangered species
2005 – Voted to speed up oil refinery permitting
2008 – Voted against environmental education grants
2008 – Voted against tax incentives for renewable energy
2008 – Voted against tax incentives for energy conservation
2009 – Voted against enforcing CO2 limits for air pollution
2011 – Voted NO on allowing EPA to regulate greenhouse gas emissions
2011 – Voted YES to opening up the Outer Continental Shelf for oil drilling
2011 – Voted to eliminate climate advisors for the president
2011 – Voted in favor of allowing Keystone XL Pipeline

Sun, 2012-07-29 13:13Farron Cousins
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How Do You Spend $375 Million A Day? Ask The Oil Industry

The average U.S. household has seen both their net worth and their average income steadily decline over the last seven years. Unemployment in the United States still remains at uncomfortably high levels, and the poverty rate is about to reach highs that haven’t been seen since the 1960’s. But as average citizens are struggling to provide food for their families and gainful employment, there are a special few in the U.S.A. who have more cash than they know what to do with. Those special few would be the oil industry.

While most of us in the U.S. were cringing every time that ticker on the gas pump climbed higher and higher, executives at the top five oil companies were squealing with delight as their profits climbed even faster and higher than the prices at the pump.

This week, oil companies are sheepishly coming forward with their 2nd quarter earnings statements, likely praying that Americans forget about the fact that gas prices were recently at near-historic highs in areas of the country. From Climate Progress:
  

The top two corporations on the Fortune 500 Global ranking, Royal Dutch Shell and ExxonMobil, announced their 2012 second-quarter earnings today, bringing the total profits for three Big Oil companies to $44 billion for 2012 or $250,000 every day this year. Exxon profited by $16 billion this quarter, bringing its earnings for 2012 to $25 billion.

The New York Times wrote that Exxon and Shell’s earnings “disappoint,” because energy prices unexpectedly dropped for consumers this summer. Put their profits in the appropriate context, however, and Exxon and Shell still made a combined $160,000 per minute last quarter, even though the top five oil companies benefit from $2.4 billion federal tax breaks every year.
 
Mon, 2012-06-18 12:56Farron Cousins
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Dirty Energy Industry Sues EPA Over Clean Air Initiatives

In a blatant insult to the millions of Americans who would breathe easier under the EPA’s air pollution controls, the dirty energy industry, along with other groups, has sued the EPA to stop regulating toxic industrial air pollution. The Center for American Progress has the story:
  

Two essential Environmental Protection Agency, or EPA, regulations to protect children, seniors, the infirm, and others from air pollution are under attack from the coal industry and many utilities.

Last year the EPA issued two rules that would reduce smog, acid rain, and airborne toxic chemicals: the Cross-State Air Pollution Rule and the Mercury and Air Toxics Standards.

On July 6, 2011, the EPA finalized the Cross-State Air Pollution Rule to reduce sulfur dioxide and nitrogen oxide pollution—two of the main ingredients in acid rain and smog—from power plants in upwind states that were polluting downwind states. An interactive EPA map demonstrates that pollution doesn’t stop at state borders.

Then, on December 16, 2011, the EPA finalized the first standards to reduce mercury, arsenic, lead, and other toxic air pollution 21 years after controls on such pollution became law.

Today more than 130 coal companies, electric utilities, trade associations, other polluting industries, and states are suing the EPA in federal court to obliterate, undermine, or delay these essential health protection standards. A parallel effort is underway to block the mercury reduction rule in the Senate, which is scheduled to vote on it this week. This CAP investigation found that these utilities were responsible for 33,000 pounds of mercury and 6.5 billion pounds of smog and acid rain pollution in 2010 alone.

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The industry has been actively working to undermine the work of the EPA for years, and this lawsuit comes on the heels of a package of legislation recently introduced by House Republicans that would gut the EPA of most of their regulatory authority over air pollution emissions, including mercury emissions.

Tue, 2012-05-29 14:31Farron Cousins
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Fracking Industry Trying To Keep Doctors Silent About Chemical Dangers

Polls conducted in recent years show that close to 80% of Americans trust their doctors. They believe, rightly so, that their personal doctors are looking out for their patients’ best interests, and that doctors will do what is necessary to get patients healthy. But what happens when a doctor is legally bound to keep vital health information away from not just their patients, but from the general public? Under new laws being pushed by the fracking industry, we’ll soon have an answer to that question.

Earlier this year, Mother Jones reported on a new law in Pennsylvania that allows doctors to have access to the secret fracking formulas that the dirty energy industry is pumping into the ground, but they are legally required to keep that information private. From the Mother Jones report:
  

There is good reason to be curious about exactly what's in those fluids. A 2010 congressional investigation revealed that Halliburton and other fracking companies had used 32 million gallons of diesel products, which include toxic chemicals like benzene, toluene, ethylbenzene, and xylene, in the fluids they inject into the ground. Low levels of exposure to those chemicals can trigger acute effects like headaches, dizziness, and drowsiness, while higher levels of exposure can cause cancer.

Pennsylvania law states that companies must disclose the identity and amount of any chemicals used in fracking fluids to any health professional that requests that information in order to diagnosis or treat a patient that may have been exposed to a hazardous chemical. But the provision in the new bill requires those health professionals to sign a confidentiality agreement stating that they will not disclose that information to anyone else—not even the person they're trying to treat.
 
Fri, 2012-05-18 11:59Farron Cousins
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House Republicans Attempt To Nix Military's Clean Energy Initiatives

Republicans on the U.S. House Armed Services Committee have decided that the military’s push for clean, renewable energy has gone far enough, and have proposed for next year’s budget that the Pentagon not spend a dime on renewable energy sources that cost more than traditional dirty energy.

This news comes on the heels of the Navy’s announcement of their new “Great Green Fleet,” which features an aircraft carrier and strike group that are all powered by renewable, cleaner energy sources.

The shift in policy came from the House Armed Services Committee, chaired by California Republican Howard “Buck” McKeon. Republicans on the committee complain that the fuel being used for the “green fleet” and other military renewable energy projects is too costly, and contend that the military should never spend more on a renewable energy source that is more costly than traditional petroleum.

Fri, 2012-04-13 19:18Farron Cousins
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Karl Rove's Crossroads GPS Doubles Down On Gas Price Talking Points

The Karl Rove-helmed lobbying group Crossroads GPS (in conjunction with their parent group American Crossroads) has decided to double down on the debunked talking point that President Obama is to blame for the spike in gas prices. Their latest ad, titled “Too Much,” specifically takes aim at the President’s claim (based on facts) that domestic energy production is at a record high.

Take a look:



It is interesting to note that in this ad, when they attempt to “debunk” Obama’s claim about domestic oil production, the source they cite as evidence is actually talking about only the oil production, a fact that they actually left in the ad yet conveniently ignored:

Tue, 2012-03-20 11:58Farron Cousins
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Fact Checking The New Paul Ryan Budget on Energy and Environment

Representative Paul Ryan (R–WI) has released his budget for fiscal year 2013. To almost no one’s surprise, his outline is filled with too many falsehoods and outright lies to count.

After analyzing just one section of his proposal – the section on energy and the environment – more than half a dozen false statements were found in a mere eight paragraphs.

Before analyzing Ryan’s claims from his budget, it’s important to understand why he feels the need to misrepresent what the Obama Administration has accomplished during the last four years.

Ryan, who is currently the Chairman of the House Budget Committee, has received $65,000 from Koch Industries during the course of his tenure in the House, with a total of more than $245,000 from the oil and gas industries to run his campaigns, according to the Center for Responsive Politics.

The fact that he is in the pocket of the dirty energy industry is clear with the accusations he makes in his proposal. Those claims are below, followed by the truth.

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