Florida

Wall Street Warns About Cost Of Doing Nothing On Climate Change

As President Obama heads to the Arctic to discuss climate change, just mere weeks after approving Shell Oil’s bid to drill for oil in the treacherous Chukchi Sea, a very different group is sounding the alarm over the dangers of a warming climate. That group, surprisingly, is Wall Street bankers.

Citibank has released a new report showing that taking action now against the growing threat of climate change would save an astonishing $1.8 trillion by the year 2040. Conversely, the report says that if no action is taken, the economy will lose as much as $44 trillion during that same time period.

Florida Town Bans Fracking, But Will It Last?

The South Florida town of Bonita Springs has officially banned fracking. The city council voted early Wednesday to ban all types of well stimulation techniques to extract fossil fuels, which includes fracking, within the city limits.

Bonita Springs has now become the second municipality in the state of Florida to enact a ban on fracking.

Newly Released Documents Provide Further Indication That Florida Officials Were Directed Not To Talk About Climate Change

This is a guest post by Jesse Coleman that originally appeared on Greenpeace Blogs

In an email exchange from April of 2014 obtained by a records request, a communications official working for the Department of Environmental Protection (DEP) in Florida instructed a scientist to “make no claims as to cause” of Florida’s sea level rise. The scientist responded “I know the drill,” suggesting that a prohibition on mentioning climate change was well established in the department.

Florida’s Climate Change Gag Order Claims Its First Victim

Earlier this month, it was revealed that Florida’s Republican governor Rick Scott had directed the Florida Department of Environmental Protection (DEP) to stop using terms like “climate change” and “global warming” in any official correspondence or during meetings. According to Public Employees for Environmental Responsibility (PEER), that gag order has now claimed its first victim.

PEER made the following assertions in a press release today:

Barton Bibler is a long-time DEP employee who now serves as Land Management Plan Coordinator in its Division of State Lands. He attended a Florida Coastal Managers Forum on February 27, 2015 at which climate change and sea-level rise were discussed among a mix of public attendees. Mr. Bibler’s official notes on this meeting reflected all of that discussion. He was directed to remove any hot button issues, especially explicit references to climate change, and then was given a letter of reprimand for supposedly misrepresenting that the “official meeting agenda included climate change.”

As he was given the reprimand on March 9th, Mr. Bibler was told to not return to work for two days which would be charged against his personal leave time. Two days later he received a “Medical Release Form” requiring that his doctor supply the DEP with an evaluation of unspecified “medical condition and behavior” issues before being allowed to return to work.

As of today, Bibler has not returned to work, and is uncertain if he will even be able to return. PEER is requesting state officials to open an investigation into the handling of Bibler’s “mandatory leave” directive.

Green Billionaires Club? David Vitter Owns Stock in Coal Utilities Fighting EPA Carbon Rules

On July 30, the Republican minority of the U.S. Senate Committee on Environment and Public Works, headed by Sen. David Vitter, released a report titled “The Chain of Environmental Command: How a Club of Billionaires and Their Foundations Control the Environmental Movement and Obama’s EPA.”

Critics of the report say it is propaganda designed to skewer the Obama EPA and environmental philanthropists for “conspiring to help the environment.”

Vitter's chief source of campaign cash is the oil and gas industry and he recently called the billionaire Koch Brothers “two of the most patriotic Americans in the history of the Earth.” 

What the 92-page report leaves out is that Vitter — an esteemed member of the Senate “Millionaires Club” — owns tens of thousands of dollars in stocks of the electric utility Wisconsin Energy Corporation (We Energies), which owns major coal-fired power plants in both Oak Creek, Wisc. and Pleasant Prairie, Wisc.

We Energies says it stands to lose economically if the proposed Obama EPA carbon rules are implemented, citing the potential risks related to legislation and regulation in its most recent U.S. Securities and Exchange Commission (SEC) Form 10-Q.

“Any legislation or regulation that may ultimately be adopted, either at the federal or state level, designed to reduce GHG emissions could have a material adverse impact on our electric generation and natural gas distribution operations,” We Energies stated on the form.

“Such regulation could make some of our electric generating units uneconomic to maintain or operate, and could adversely affect our future results of operations.”

We Energies CEO Gale Klappa also voiced dissatisfaction with the proposed rule during his company's most recent earnings call, saying the company will submit comment to the EPA as part of the public comment period.

Breaking: Triumph For Citizens in Florida As Hughes Oil Company Drops Fracking Project

Naples fracking by Julie Dermansky

On Friday morning, Dan A. Hughes Oil Company and the Collier Resources Company agreed to terminate their lease agreement, with the exception of the Collier Hogan 20-3H well, next to the Corkscrew Swamp Sanctuary in Naples, Florida. 

Hughes Oil dropped its plans to drill an exploratory well adjacent to the Golden Gates Estates development.

“We are very happy that Hughes won’t drill next to our home,” Pamela Duran, who lives 1,000 feet away from the previously proposed drill site, told DeSmogBlog.

“I think the whole neighborhood feels like there is a heavy weight taken off our shoulders,” she said.


Pamela Duran in front of her house in Naples, Florida. ©2014 Julie Dermansky

The Florida Everglades: A New Frontline for Fracking?

Fracking Floride everglades

Pamela and Jamie Duran of Naples, Fla., had not spent much time worrying about fracking. Like most Floridians, they'd been repeatedly told it couldn’t happen there. Until it did.

Texas-based Dan A. Hughes Oil Company recently used a form of “enhanced extraction,” which fits the description of fracking, in Naples, the gateway to the Everglades. The drilling took place in the Sunniland Trend, an underground limestone formation with an oil reserve stretching from Fort Myers to Miami.

Pamela Duran in front of her home
Pamela Duran in front of her home, 1000 feet from a proposed drill site in Naples, Florida. ©2104 Julie Dermansky 

The Durans were aware there was oil in the area, but the realtors who sold them their house seven years ago never mentioned the possibility of new drilling. Not far from them, on Oil Well Road, is a park where Florida's very first oil derrick is on display with a historic plaque.

Marco Rubio Wants To Let The Planet Burn

Republican Senator Marco Rubio isn’t convinced that human beings are responsible for climate change.  But don’t get him wrong. Marco Rubio firmly believes that climate change is happening.  In fact, as he said in two separate interviews this past week, the climate “is always changing.” 

Rubio, who represents the climate change-imperiled state of Florida in the U.S. Senate, has taken a lot of heat for denying the role that humans are playing in climate change, but at the same time, he has received partial credit for acknowledging that the climate is changing.  Rubio’s semantic trickery is not an admission that he believes in climate change.  It is simply a tool that allows him to play both sides.  He can construe his statement to “prove” that he accepts the reality of climate change, or he can downplay its meaning and say that he was referring to something as simple as weather patterns. 

In either scenario, Rubio comes out the winner.  His denial of the role of human beings will be forgotten quickly, and all that will remain on the record is his statement that the climate is always changing. 

Rubio’s assertion that human beings don’t play a role in climate change has already been thoroughly debunked.  But what’s even more alarming is the fact that Rubio’s denial is putting his constituents at risk.

Reports show that Florida, the state Rubio represents in the Senate, is going to experience the impacts of climate change, possibly more so than any other state in the country.  As the NRDC points out, everything from real estate, health, and tourism will be destroyed as climate change becomes worse:

ALEC's Fracking Chemical Disclosure Bill Moving Through Florida Legislature

The American Legislative Exchange Council's (ALEC) model bill for disclosure of chemicals injected into the ground during the controversial hydraulic fracturing (“fracking”) process is back for a sequel in the Sunshine State legislature. 

ALEC's model bill was proposed by ExxonMobil at its December 2011 meeting and is modeled after a bill that passed in Texas' legislature in spring 2011, as revealed in an April 2012 New York Times investigative piece. ALEC critics refer to the pro-business organization as a “corporate bill mill” lending corporate lobbyists a “voice and a vote” on model legislation often becoming state law.

The bill currently up for debate at the subcommittee level in the Florida House of Representatives was originally proposed a year ago (as HB 743) in February 2013 and passed in a 92-19 vote, but never received a Senate vote. This time around the block (like last time except for the bill number), Florida's proposed legislation is titled the Fracturing Chemical Usage Disclosure Act (HB 71), introduced by Republican Rep. Ray Rodrigues. It is attached to a key companion bill: Public Records/Fracturing Chemical Usage Disclosure Act (HB 157).

HB 71 passed on a party-line 8-4 vote in the Florida House's Agriculture and Environment Subcommittee on January 14, as did HB 157. The next hurdle the bills have to clear: HB 71 awaits a hearing in the Agriculture and Environment Appropriations Subcommittee and HB 157 awaits one in the Government Operations Subcommittee.

Taken together, the two bills are clones of ALEC's ExxonMobil-endorsed Disclosure of Hydraulic Fracturing Fluid Composition Act. That model — like HB 71 — creates a centralized database for fracking chemical fluid disclosure. There's a kicker, though. Actually, two.

First kicker: the industry-created and industry-owned disclosure database itself — FracFocus — has been deemed a failure by multiple legislators and by an April 2013 Harvard University Law School studySecond kicker: ALEC's model bill, like HB 157, has a trade secrets exemption for chemicals deemed proprietary. 

Banks Reluctant to Lend in Shale Plays as Evidence Mounts on Harm to Property Values Near Fracking

Over the past several years, the fossil-fuel industry has been highly adept at publicizing the economic upshots of fracking: royalty checks, decreased prices for oil and gas, profits for investors. 

But the industry is far less eager to discuss the hidden costs of the current drilling boom – the longterm price of air and water pollution, the consequences of undermining a nascent renewable energy industry, the harms from accidents when moving and storing all the hazardous waste fracking produces. 

Add to that list of hidden costs one that is starting to grab more attention from bankers and the real estate industry: property values and mortgage problems. New research, for example, demonstrates that the vast majority of prospective buyers say they would decline to buy a home near oil and gas drilling.

As millions of Americans sign oil and gas leases granting the right to companies to extract fossil fuels from their land, they are realizing that these documents often conflict with their mortgages, which is leading to all manner of legal and financial headaches, and make it harder to sell homes on land whose oil and gas rights are leased.

Concern about these impacts is spreading in southern states like Texas, Alabama and Florida, according to a survey due for release in the next several weeks from the University of Dever. In northeastern states like Pennsylvania, fracking worries have prompted lenders to begin rejecting mortgage applications due to gas drilling – on neighboring property. In Colorado, real estate brokers describe keeping a long list of sellers in heavily fracked areas, but a paucity of buyers. 

Under the terms mortgage buyers like Fannie Mae and Freddie Mac require, “you cannot cause or permit any hazardous materials to be on your property and it specifically references oil and gas,” Greg May, vice president of residential mortgage lending at Tompkins Bank, told American Banker in an interview published Nov. 12. “That alone would make it a problem.”

The repercussions for the American real estate market could be enormous. More than 15.3 million Americans – roughly one out of every 20 people living in the U.S. – now live within a mile of an oil or gas well that was drilled since 2000, the Wall St. Journal recently reported

And that may be just the tip of the iceberg since shale gas and oil wells require ongoing drilling for them to stay productive. In 2010, for example, Pennsylvania regulators predicted a more than 10-fold increase in shale wells in their state over the next couple decades.

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