King Coal

Fri, 2013-08-16 10:51Steve Horn
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Warren Buffett Buys Over $500 Million of Suncor Tar Sands Stock, Latest in "Dirty Deeds Done Dirt Cheap"

Warren Buffett - the fourth richest man on the planet and major campaign contributor to President Barack Obama in 2008 and 2012 - may soon get a whole lot richer.

That's because he just bought over half a billion bucks worth of Suncor Energy stock: $524 million in the second quarter of 2013, to be precise, according to Securities and Exchange Commission filings. Suncor is a major producer and marketer of tar sands via its wholly owned subsidiary Petro-Canada (formerly Sunoco) and this latest development follows a trend of Buffett enriching himself through dirty investments and deal-making. 

So far in 2013, Suncor (formerly Sun Oil Company) has produced 328,000 barrels per day of tar sands crude.

Though he receives far less negative press than the Koch Brothers, Buffett's no deep green ecologist. Not in the slightest. 

Referred to as one of 17 “Climate Killers” by Rolling Stone's Tim Dickinson in a January 2010 story, Buffett owns the behemoth holding company, Berkshire Hathway. It's through Berkshire that he's making a killing - while simultaneously killing the ecosystem - through one of its most profitable wholly-owned assets: Burlington Northern Santa Fe (BNSF).

Buffett purchased BNSF for $26 billion and was “the largest acquisition of Buffett's storied career,” Dickinson wrote.

BNSF hauls around frac sand for the controversial horizontal oil and gas drilling process known as “fracking.” The rail company also moves fracked oil from North Dakota's Bakken Shale basin, tar sands logistical equipment and tar sands crude itself and tons of coal. And not only does Buffett's BNSF haul around ungodly amounts of coal, he actually owns coal-burning utility companies, too.

Thu, 2013-01-24 10:26Steve Horn
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Smoke and Mirrors: Obama DOE Fracked Gas Export Study Contractor's Tobacco Industry Roots

At first, it was kept secret for months, cryptically referred to only as an “unidentified third-party contractor.”

Finally, in November 2012, Reuters revealed the name of the corporate consulting firm the U.S. Department of Energy (DOE) hired to produce a study on the prospective economic impacts of liquefied natural gas (LNG) exports.

LNG is the super-chilled final product of gas obtained - predominatly in today's context - via the controversial hydraulic fracturing (“fracking”) process taking place within shale deposits located throughout the U.S. This “prize” is shipped from the multitude of domestic shale basins in pipelines to various coastal LNG terminals, and then sent on LNG tankers to the global market

The firm: National Economic Research Associates (NERA) Economic Consulting, has a long history of pushing for deregulation. Its claim to fame: the deregulation “studies” it publishes on behalf of the nuclear, coal, and oil/gas industry - and as it turns out, Big Tobacco, too.

Mon, 2012-11-19 17:43Steve Horn
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Revealed: NERA Economic Consulting is Third Party Contractor for DOE LNG Export Study

Reuters has revealed the identity of the mysterious third party contractor tasked to publish the economic impact study on LNG (liquefied natural gas) exports on behalf of the Department of Energy (DOE). Its name: NERA Economic Consulting.

NERA” is shorthand for National Economic Research Associates, an economic consulting firm SourceWatch identifies as the entity that published a June 2011 report on behalf of coal industry front group American Coalition for Clean Coal Electricity (ACCCE). ACCCE's report concluded, “clean-air rules proposed by the Obama administration would cost utilities $17.8 billion annually and raise electricity rates 11.5 percent on average in 2016.”

That report went so far to say that Environmental Protection Agency (EPA) regulations of the coal-generated electrcity sector would amount to some 1.5 million lost jobs over the next four years.

NERA was founded by Irwin Stelzer, senior fellow and director of the right-wing Hudson Institute’s Center for Economic Policy. In Oct. 2004, The Guardian described Stelzer as the “right-hand man of Rupert Murdoch,” the CEO of News Corp., which owns Fox News. 

According to NERA's website, the late Alfred E. Kahn, the “father of deregulation,” advised NERA's 1961 foundation

Tue, 2012-10-23 05:00Steve Horn
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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

Wed, 2012-06-06 08:36Steve Horn
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TransCanada's Latest Extreme Energy Export Pipelines in the U.S. and Canada

TransCanada was once in the limelight and targeted for its Keystone XL pipeline project. Now, with few eyes watching, it is pushing along two key pipeline projects that would bring two respective forms of what energy geopolitics scholar Michael Klare calls “extreme energy” to lucrative export markets.

Pipeline one: the southern segment of the originally proposed TransCanada Keystone XL tar sands pipeline, popularly referred to as the Cushing Extension, but officially referred to as either the Gulf Coast Project or the Cushing Marketlink pipeline. This pipeline will carry tar sands crude, or “dilbit,” extracted from Alberta, Canada's Athabasca oil sands project southward first to Cushing, Oklahoma, and then to Port Arthur, Texas, where it will be shipped off to global export markets.

While the northern Alberta-to-Cushing segment has been punted until after election season by President Barack Obama's U.S. State Department, the Cushing-Port Arthur segment has been rammed through in a secrective manner by various Obama regulatory agencies, as pointed out recently by Friends of the Earth-U.S. (FOE-U.S.). 

FOE-U.S. explained in a long blog post published on June 5, well worth reading in its entirity,

Fri, 2012-06-01 15:46Steve Horn
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Massey WV Coal Battle Take Two: Erie, CO Citizens Fight Fracking

Erie, CO meet Naoma, WV. Though seemingly different battles over different ecologically hazardous extractive processes – hydraulic fracturing (“fracking”) for unconventional gas versus mountaintop removal for coal – the two battles are one in the same and direct parallels of one another. 

On June 2, a coalition of activist organizations led by Erie Rising and joined by the likes of the Sierra Club, the Mark Ruffalo-lead Water Defense, the Angela Monti Fox-lead Mothers Project (mother of “Gasland” Producer and Director, Josh Fox), Food and Water Watch (FWW), among others, will take to Erie, CO to say “leave and leave now” to EnCana Corporation.

EnCana has big plans to drill baby drill in Erie.

It “plans to frack for natural gas near three local schools and a childcare center,” according to a press release disseminated by FWW. “On June 2, the event in Erie will give voice to those immediately affected by fracking there, and to all Americans marred by the process, becoming ground zero for the national movement to expose the dangers associated with fracking.”

The action is a simple one: a “rally and vigil to protest gas industry giant Encana’s plans to frack for natural gas near Red Hawk Elementary, Erie Elementary, Erie Middle School and Exploring Minds Childcare Center and transport toxic fracking by-products on roads that come within feet of these and other community schools,” reads the FWW press release.

Thu, 2012-05-03 12:46Steve Horn
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B.C. Protest This Saturday to Stop Warren Buffett's BNSF Coal Trains

Warren Buffett, the third wealthiest man on the planet (net worth: $44 billion), often referred to as the “Oracle of Omaha,” is the target of a May 5 action called for by Stop Coal B.C. Well, not Buffett directly, but a rail company he owns through his massive holding company, Berkshire Hathaway: Burlington Northern Santa Fe (BNSF) Railway.

BNSF Railway is the second largest freight rail company in the United States and the exclusive carrier of thermal coal from coal basins in the northwestern U.S. to docks in British Columbia, where the dirty coal is exported to the global market, primarily to Asia.

The action calls for activists to blockade BNSF's four coal-loaded freight trains from reaching their final destination for the day and in the process, risk arrest. It is part of 350.org's broader “Connect the Dots” event taking place on Saturday, with actions planned throughout the world.

The Stop Coal B.C. call to action reads,

Tue, 2012-03-27 17:16Brendan DeMelle
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Sierra Club Launches "Mr. Coal" Video Campaign to Mock Dirty Coal PR

The Sierra Club launched a funny new ”Mr. Coal“ video campaign this week in its ongoing 'Beyond Coal' effort to shut down coal plants throughout the United States.

The campaign will feature a steady stream of satirical TV commercials mocking the coal industry's incessant and incredulous claims about job creation, “clean coal,” and many other dirty PR tricks pitched by King Coal time and time again.

Feast your eyes on one of the ads below:

The Club has teamed up with Mekanism, a San Francisco, CA-based creative campaign agency, to push out these commercials.

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