The planet is in a nearly two-decade global warming standstill; an Arctic research expedition to study warm was halted due to too much ice; polar bear habitat is healthy; another quiet hurricane season is expected; and a paper on sea level rise by climate alarmism founder Dr. James Hansen has been dismissed by his fear-mongering colleagues as “flimsy.”
Nonetheless the corporate world has loyally marched to the White House doorstep to pledge fealty to President Obama’s carbon dioxide reduction agenda. On Monday 13 large companies announced they would collectively spend $140 billion on various initiatives to reduce carbon dioxide emissions and expand so-called “clean” energy. The collective action has been dubbed the “American Business Act on Climate Pledge” by the White House, and is intended to enhance the president’s negotiating position at international climate talks in Paris at the end of the year.
“Rising … Read More ➡
It appears – two years after Boeing had fire incidents from installed lithium ion batteries that shut down deliveries of its vaunted Dreamliner 787 – that its “solution” to “vent” heat and flames outside the aircrafts has prevented any catastrophes, so far.
But it hasn’t alleviated concerns about the batteries’ physics and makeup. Last week Boeing issued a warning to its airline customers to not carry bulk shipments of lithium-ions because if they catch fire or overheat, they’re unstoppable. A spokesman told the Associated Press that the manufacturer has advised airlines not to transport the batteries “until safer methods of packaging and transport are established and implemented.” Likewise, the FAA simultaneously stated that its research has found that carriage of lithium ion batteries “presents a risk.”
The alert was industry-wide. At a safety forum held last week in Washington by the Air Line Pilots Association, Boeing’s fire protection system specialist … Read More ➡
It’s been six years since electric vehicle manufacturers enjoyed their windfall from U.S. taxpayers via the stimulus, but the thirst for subsidies, and pain from financial losses, have not waned.
The pursuit of government goodies continues apace for Tesla Motors, even more vigorously after the Los Angeles Times reported last month that CEO Elon Musk depends on more than $4.9 billion in corporate welfare for his companies, which also include SolarCity and SpaceX.
Tesla’s quest may more accurately be portrayed as preservation of the golden goose that is California’s zero-emission vehicle (ZEV) credit scheme. The Golden State requires the six largest auto manufacturers to produce a certain percentage of vehicles that are “green” – in other words, electric – or to purchase zero-emission “credits” from companies that do, such as Tesla. According to the Christian Science Monitor, Tesla is the largest seller of ZEV credits, … Read More ➡
The monument to former Duke Energy CEO Jim Rogers’s boondogglery – a “clean coal and carbon capture” power plant in Edwardsport, Ind. – has become the rate-busting gift that keeps on giving.
Over the weekend the Indianapolis Star reported that the facility that Duke Energy’s Indiana president called “state-of-the-art” continues to have premature breakdown and decay problems. Repair costs are likely to be passed on to customers, who have already seen their electric bills increase by up to 16 percent because of construction estimate overruns.
“Cracking welds. Eroding pipes. Frozen transmitters. Slag building up. Coal slurry spilling on floors,” the Star reported, citing disclosures to the Indiana Utility Regulatory Commission. “And all that was just in December.”
The plant has been operating for two years and was promoted as one of the “world’s cleanest” with the ability to deliver dependable, low-cost electricity. According to Power … Read More ➡
Alt-energy/transport-tech CEO Elon Musk and his trio of companies (Tesla, SolarCity and SpaceX) didn’t cooperate with the Los Angeles Times on its article that tabulated his businesses’ whopping sum of corporate welfare ($4.9 billion), and he was predictably miffed by the (accurate) portrayal.
So he went about trying to fix things on CNBC and with the Times on Monday, but not by denying the conclusions reached by reporter Jerry Hirsch, but instead by essentially pointing at fossil fuel industries and saying “they do it more.”
“If I cared about subsidies,” Musk told Hirsch in a follow-up to his Sunday expose’, “I would have entered the oil and gas industry.” He added that the financial help he receives is a “pittance” compared to government backing of fossil fuels.
Musk’s resentment (envy?) of oil and gas subsidies is amusing. Would you like to shoot your rockets into space … Read More ➡
Well, somebody did it, and it was the mainstream media. Congratulations to the Los Angeles Times for taking the time to research and estimate the total amount of U.S. public (local, state, and federal) subsidies for companies owned or run by South African-born Canadian-American Elon Musk.
The total amount calculated by reporter Jerry Hirsch for taxpayer-backed incentives – of many different forms, including tax credits and rebates provided to customers – was $4.9 billion. The corporate beneficiaries have been Tesla Motors and SpaceX, where Musk is CEO, and SolarCity Corp., where he is chairman. The sum does not include SpaceX’s contracts with the government to carry out programs for NASA and the U.S. Air Force.
“Government support is a theme of all three of these companies, and without it none of them would be around,” said Mark Spiegel, a hedge fund manager for Stanphyl Capital Partners, to the Times… Read More ➡
Back in November the Department of Energy boasted that its loan program for renewable energy technologies and “advanced” (mostly electric) vehicles had achieved a positive balance, which many in the media lapped up after so many failures such as Solyndra.
But now that the Government Accountability Office has revealed in a detailed study that the true cost of the loan program to taxpayers is $2.2 billion – plus administrative expenses – journalists are nowhere to be found. As for DOE, they still stick to their story.
The GAO explained that the staggering sum reflects the “credit subsidy cost” of the loans and loan guarantees in the portfolios of Loan Guarantee Program and the Advanced Technology Vehicles Manufacturing program, which now have been combined. The credit subsidy cost is defined by GAO as “the net present value of the difference between projected cash flows to and from the government over the … Read More ➡
While Apple Inc. continues its laughable claim that its data centers are run “100-percent” on renewable energy – highlighted by a solar farm built adjacent to its server facility in Maiden, N.C. – public records show the company has received permits to install 44 pollutant-spewing diesel generators for back-up power.
Meanwhile two weeks ago the Cupertino, Calif.-based computing giant boasted far and wide that it was joining with the Conservation Fund to “protect” a “working forest” in Brunswick Co., N.C., which is on the state’s southeastern coast. So Apple asserts that it reduces pollution produced by fossil fuels, while conserving timber for future generations. Wouldn’t that be wonderful if it was true? Instead it’s more of what the environmental left likes to call “greenwashing.”
The diesel generators for the western North Carolina data center are the normal redundancy you’d expect a power-dependent corporation to install to insure continual … Read More ➡
A stimulus-backed Department of Energy loan program that has not been tapped for four years, and was deemed unwanted two years ago by the Government Accountability Office, is suddenly ready and willing to dole out more taxpayer millions again – to a corporation that doesn’t need it.
In fact, Alcoa’s expansion project for which the funding is targeted – to produce special aluminum for automotive companies in Tennessee – has already been underway for 19 months and was first revealed almost two years ago.
DOE announced on Thursday that the renewed activity out of its Advanced Technology Vehicles Manufacturing program will deliver a $259 million loan to the multinational conglomerate. The excuse for the financing – considering that ATVM’s purpose was to support production of alternative energy-powered automobiles – is to produce “high-strength” aluminum for automakers “looking to lightweight their vehicles.” Yes, they used “lightweight” as a verb, … Read More ➡
Those in business who have to oblige the Environmental Protection Agency (or the state government agencies that carry out federal laws) on a daily basis know there’s an endless list of issues upon which the cabinet agency can (and does) interfere and obstruct. But a few recent examples reveal the extent to which the government regulators are willing to extinguish our individual freedoms.
Attention this week is trained on the Supreme Court, where a costly Obama regulation on mercury emissions from utilities’ coal-fired power plants is under a challenge. That’s a big issue that addresses whether EPA conducted a proper cost-benefit analysis for limiting those emissions, which has major implications related to the cost of electricity, but is otherwise complex for the layman.
But other areas of increased meddling are more plain – and obnoxious.
Early this month the Associated Press reported that EPA plans to introduce new rules… Read More ➡