Secondary market for RGGI credits crashes
demand plummeted in the June quarterly auction when 70% of the offered allowances went unsold, leaving future RGGI revenues in question.Al's Journal : Confronting Disappointment
Instead of relying on science, President Obama appears to have bowed to pressure from polluters who did not want to bear the cost of implementing new restrictions on their harmful pollution—even though economists have shown that the US economy would benefit from the job creating investments associated with implementing the new technology. The result of the White House’s action will be increased medical bills for seniors with lung disease, more children developing asthma, and the continued degradation of our air quality.UPDATE: Canada Minister "Increasingly Optimistic" On US Keystone Approval - WSJ.com
OTTAWA (Dow Jones)--Canada's minister responsible for the oil sands said Wednesday he's "increasingly optimistic" the Obama administration will grant a permit to allow construction of the controversial Keystone pipeline.U.S. chamber backs Keystone expansion
The U.S. Chamber of Commerce is launching a counterattack against opponents of the proposed Keystone XL pipeline, who over the weekend wrapped up two weeks of daily protests outside the White House, during which more than 1,250 were arrested.Climate Change Cloud War - Hit & Run : Reason Magazine
The explosion of comment caused by this contretemps in the blogosphere can be found on the more "skeptical" side of climate science at Spencer's blog, Wattsupwiththat, ClimateAudit, and Roger Pielke, Sr.'s Climate Science. For the more "alarmist" take go to RealClimate, DailyClimate, ClimateProgress, and Deltoid.
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2 comments:
Regarding the Keystone pipeline, I noticed it goes right through American down to the Gulf of Mexico. Why?
My guess is that much of this oil will be shipped to other countries from this point.
It'll be interesting to see if this happens...
Answer: The Gulf is the primary traffic point for all crude petroleum in the US.
Indeed, most of the product coming from Canada will be shipped elsewhere, mostly to China. The US does not have much refining capacity for very low grade oil like this.
On the other hand, oil is fungible just like currency. It is traded, and the Canadian product will be traded for oil (of equivalent value).
The proposed Alaskan oil development along the coast would, of course, produce oil that would be shipped to Asia. But it would be traded for oil to the US from elsewhere.
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