Money

Tue, 2014-02-04 11:39Farron Cousins
Farron Cousins's picture

Duke Energy Spills Thousands Of Tons Of Coal Ash Into North Carolina River

Residents in the city of Eden, North Carolina are currently in danger of having their drinking water destroyed thanks to Duke Energy.  The coal giant has reported a coal ash spill in the Dan River with as much as 82,000 tons of the toxic pollutant released into the waterway.

According to EcoWatch, it took an astounding 24 hours after the accident occurred for Duke to issue a press release to inform the public about the chemicals that were very quickly making their way down river.  It is currently estimated that 22 million gallons of coal ash are now flowing along the river.  The spill has already been declared the third largest in U.S. history.

This was not an unavoidable catastrophe.

Duke was warned by the U.S. Environmental Protection Agency (EPA) in September 2009 that the coal ash storage site was falling apart, and the EPA even noted several instances of coal ash sludge already leaking from corroded pipes.  The EPA report also noted that portions of the dam that were supposed to be keeping the coal ash in its retention pond were crumbling.

The coal ash spill is the second major environmental chemical spill in less than a month, following the West Virginia chemical spill in early January.

Sun, 2013-12-15 14:17Farron Cousins
Farron Cousins's picture

Science On Trial In America As Courts and Congress Grapple with Industry Pollution

Both the science behind climate change and the efficacy of life-saving safety standards from the U.S. Environmental Protection Agency (EPA) had a trying week in Washington, D.C., as industry-backed lawsuits and politicians attempted to undermine the entire scientific community.

The EPA is currently battling two major legal obstacles in the courts over the agency's authority to enact and enforce provisions of the Clean Air Act.  This is a power that the U.S. Supreme Court had already ruled was not only within the agency’s jurisdiction, but a duty that it had to perform for the American public.

One of the legal battles took place at the U.S. Court of Appeals for the D.C. Circuit, where the EPA defended its work to limit the amount of mercury and arsenic that energy companies are allowed to release into the air.  According to NRDC, these health standards that are under attack from the dirty energy industry have the potential to save as many as 45,000 lives a year.

Based on the D.C. Circuit’s previous rulings regarding the Clean Air Act, it is likely that the EPA will be the victor in this case. 

Fri, 2013-12-06 11:57Farron Cousins
Farron Cousins's picture

U.S. Chamber Of Commerce Backing Mitch McConnell, Other Coal Candidates In 2014

Republican Senate minority leader Mitch McConnell is facing an uphill battle for reelection in next year’s midterms.  But luckily for McConnell, his powerful allies in the dirty energy industry have deep pockets and are willing to shower his campaign with cash to help increase his chances of victory.

Over the last year, McConnell has been described as “the most unpopular Senator,” and in the last few months his approval rating has fallen to the mid-30’s.  He is currently trailing Democratic opponent Alison Lundergan Grimes by 2 percentage points in polls. 

McConnell’s allies in the business community, specifically the U.S. Chamber of Commerce, released an ad earlier this week touting McConnell’s commitment to the coal industry, and attacking the so-called “war on coal” coming from the Obama Administration.  Here is the ad:

According to 350.org, the U.S. Chamber of Commerce is funded, at least in part, by a number of dirty energy companies.  This helps explain their willingness to use the “war on coal” as a tool to aid in McConnell’s reelection.

Fri, 2013-11-22 11:45Farron Cousins
Farron Cousins's picture

Report: Gas Industry’s Campaign Donations Reach Record Levels

As elected officials in Washington continue to mull the possibilities of setting stricter standards for fracking, the natural gas industry has decided to pull out all the stops to defeat these standards before they can even see the light of day.  A new report from Citizens for Responsibility and Ethics in Washington (CREW) shows that the industry’s campaign contributions are now at record levels as they battle politicians wishing to tighten the reins on fracking.

According to the report, natural gas campaign donations to politicians in states where fracking is taking off have risen by 231% in the last 8 years.  But the industry is also hedging its bets in non-fracking states, as donations to politicians in those areas saw an increase in donations of 131%. 

Melanie Sloan, executive director of CREW, isn’t surprised by the increase.  Of the report, Sloan said, “Like many industries under increasing scrutiny, the fracking industry has responded by ratcheting up campaign donations to help make new friends in Congress…As CREW’s report shows, the fracking boom isn’t just good for the industry, but also for congressional candidates in fracking districts.”

CREW goes on to explain where the bulk of the money is going:

Sun, 2013-11-17 06:00Farron Cousins
Farron Cousins's picture

U.S. House Prepares Early Christmas Gift To Natural Gas Industry

The holiday season has officially kicked off for consumers, with massive sales and discounts being advertised in all forms of media.  But the U.S. House of Representatives doesn’t have to fight the crowds to find the perfect gift for the dirty energy industry – they believe that the best gift is the one you make yourself.

Tue, 2013-11-12 05:00Farron Cousins
Farron Cousins's picture

Facing the Facts: Climate Change Is Bad For Business

As leaders of the industrialized world continue to squabble at home over how to address the threat of climate change – and even as they battle internal factions who don’t believe the science of climate change – one group of leaders has come out in favor of swift, comprehensive action to prevent global catastrophe.  Those leaders come from some of the largest businesses on the planet.

Just one year ago, Hurricane Sandy hit the Northeast with a force not seen in the region in decades.  In the aftermath, shipping and distribution of goods in and out of the Northeast was severely disrupted.  The costs of these disruptions, as well as the physical damage from the storm, are projected to cost the U.S. economy $20 billion

Sandy served as a wake up call to business leaders, as it highlighted how grossly unprepared they are in the face of climate change related disasters.  In the Midwest, floods and wildfires in recent years have also impacted the business supply chain, costing untold millions worth of economic activity.

But many within the business community understood what was happening, and what it means for the future of business.  They know that, at the end of the day, climate change is bad for business.

Fri, 2013-10-04 12:37Farron Cousins
Farron Cousins's picture

Four Days Into Government Shutdown, Economy and Environment Heading South

We've now entered the fourth day of the government shutdown, and the economic impacts are already being felt by states all over America.  As it turns out, the environmental services provided by the government – everything from running our national park system to renewable energy development – is quite an important part of our economy.

The most obvious and immediate effect is the loss of roughly $76 million every day from the closure of national parks and zoos.  This loss of revenue will have a ripple effect throughout local economies, impacting small businesses, restaurants, lodges, and so on. 

According to the Center for American Progress, the hit to the National Parks Service is adding “insult to injury,” as they were hit particularly hard by previous funding cuts, as well as the sequester cuts earlier this year:

Since 2010, the budget to operate national parks has been slashed by 13 percent in today’s dollars, or $315 million. Chronic underfunding of national parks and public lands has contributed to an estimated $12 billion backlog of deferred maintenance at national parks.

As a result of mandatory funding cuts under the sequester, the national parks were unable to hire 1,900 workers for the busy 2013 summer season. Several national parks, including the Grand Canyon, Glacier National Park, and Great Smoky Mountains National Park, had to implement seasonal closures, reduce visitor-center hours, and cancel interpretive programs. Twenty-nine national wildlife refuges had to close for hunting in 2013 as a result of the sequester.

But even though tourists won’t be able to enjoy our federal lands, the dirty energy industry is still allowed full access.  As the funding for energy exploration is provided by the companies themselves, they are exempt from the federal rules put in place that demand all “non-essential” services be immediately put on hold.

This doesn’t mean that drillers are enjoying this shutdown. The Interior Department was forced to stop the permitting process for energy exploration, leaving the dirty energy industry unable to open up any new areas for exploitation.

Wed, 2013-09-18 13:57Farron Cousins
Farron Cousins's picture

Whether Approved Or Not, Keystone XL Has Been A Victory For Lobbyists

For the past six years, lobbyists in Washington have made a killing shilling either for or against the Keystone XL tar sands pipeline.  And with no clear end in sight, the folks on K Street will continue to see a flurry of cash headed in their direction.

During last year’s heated presidential race, groups spent close to $16 million directly related to the Keystone XL pipeline, with most of that money coming from industry and other proponents of the pipeline.  While opponents of the pipeline spent a few million last year – with at least one million pledged this year to fight against KXL – the lion’s share of the money spent on lobbying comes from the dirty energy industry.

Bloomberg reported the following on how intense the lobbying showdown has been in recent years:

Thu, 2013-09-12 15:32Farron Cousins
Farron Cousins's picture

Washington Throws Chemical Safety Standards Out the Window, Are Fracking Chemicals Next?

As our elected officials in Washington attempt to sell us on the idea that we need to go to war against anyone who uses chemical weapons, they are working to remove safety standards that protect citizens from corporate America’s ongoing chemical assault.

In recent weeks, the Environmental Protection Agency (EPA) has rolled back safety regulations for the chemical industry, while the U.S. House of Representatives has prepared to take aim at the government’s ability to monitor chemicals and other safety hazards posed by fracking.

Bowing to pressure by the chemical industry, the EPA has decided to withdraw a proposal that would have added numerous new substances to their database of hazardous chemicals, which is used to issue public health assessments and warnings.  One of the substances is Bisphenol A, a chemical used in the manufacture of certain plastics that has been linked to an increased risk of cancer and reproductive impacts.

The EPA had previously expressed a great deal of concern over the lack of safety standards in place for toxic chemicals that studies had shown were dangerous to the public, but the pressure coming from the chemical industry was far too great for them to overcome.

The American Chemistry Council, a lobbying group that operates as the political arm of chemical manufacturers, believes that the EPA made a “wise decision” to not go forward with their new proposals.  The group has spent more than $4 million this year alone lobbying the U.S. Senate, the U.S. House, and the EPA.

Rather than compiling their lists now, as their proposed rule allowed, the EPA decided to wait until all chemicals are thoroughly and repeatedly analyzed, a process expected to finish in 2017, unless delayed. Then they will begin the process of drafting new proposals. 

This means that the American public will suffer another four years of inaction and exposure to chemicals that the agency already knows are toxic.

Thu, 2013-09-05 05:00Farron Cousins
Farron Cousins's picture

Fracking Away Our Water Supply

As many areas of the country experience severe droughts, the fight for clean, fresh water is becoming vital to survival for many American citizens.  The problem has been made worse by the expansion of hydraulic fracturing (fracking), which gobbles up hundreds of millions (billions, according to some estimates) of gallons of potable water every month.

The state of Texas has become the prime example of what can happen when the natural gas industry is allowed to run roughshod over citizens.  The state is currently experiencing one of the worst droughts in modern times, and certain areas have already had to resort to water rationing

But the dwindling supply of fresh water in Texas has barely slowed down the natural gas industry’s fracking activities.  Even as livestock are dying off, crops are withering, and citizens are having to purchase bottled water in order to quench their thirst, fracking companies are sucking fresh water out of the ground in order to satisfy their need to extract every ounce of natural gas from beneath the Texas soil.

The drought and water shortages in Texas have gotten so bad that some residents have said that on some days, they can turn on their faucets and nothing even comes out anymore.

Pages

Subscribe to Money