Cost Of Doing Nothing To Hit $400 Trillion

The numbers are in, and they aren’t looking good for climate change deniers. According to the latest reports, the cost of doing nothing on climate change, even based on moderate warming models, will top $400 trillion in economic losses.

If that figure isn’t startling enough, then consider the additional $43 trillion in damages that we’ll see in the next few decades just from the additional release of CO2 and methane from melting permafrost. That $43 trillion figure assumes all current emissions stay the same, or even fall slightly. If emissions continue to rise, that $43 trillion number is going to climb rapidly.

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.

Mother Nature Braces For Republican Environmental Onslaught

With evidence of climate change all around us — floods, droughts, super-storms — it would make sense that now would be the time for our elected leaders to start taking the threat of climate change seriously. Sadly, the opposite is taking place in the United States, and Republicans are leading the charge to completely dismantle the few environmental protections that are in place.

This multi-faceted attack is coming from both state governors and members of Congress, and includes attacks on federal agencies and rules.

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.

The Dark Money Funding Climate Change Denial

The network of corporate-funded right wing think tanks in America is massive. The money that flows to these organizations is even more massive than the networks themselves, and it flows in almost total secrecy thanks to Donors Trust and Donors Capital Fund.

These think tanks and astroturf groups are the leaders in climate change denial, spreading misinformation and corrupt data to the masses in order to downplay — and in many cases flat out deny — the reality of anthropogenic climate change.

And though we may not have the names of individual donors, a new report from The Guardian does a great job of laying out how much money is flowing to these climate change denial groups.

Massive Budget Cuts Looming For EPA As Republicans Seek to Limit Rules on Air and Water Pollution

The U.S. Environmental Protection Agency was dealt a massive blow this week by the House Appropriations committee, where the Republican majority voted to further cut the agency’s budget and reduce its authority to enforce laws safeguarding our air, water and health.

The House committee voted on Tuesday to slash the EPA’s budget by 9%, or $718 million. This is in addition to a dramatic 20% reduction in overall funding that has taken place since the control of the House of Representatives switched to the Republican Party in 2011. This new reduction will put EPA funding at its lowest level since 1989. 

Let's Issue a Recall On Defective Congress For Failing to Stop Deadly Climate Change

Earlier this year, Blue Bell ice cream issued a mandatory recall of all of its ice cream products after a string of deaths from the bacteria Listeria had been linked directly to their products.  Similarly, when a blockbuster drug is found to be defective and begins killing consumers, the FDA will force the pharmaceutical company to pull the drug from the market.

Given the protocol here, I want to propose that we recall the Legislative Branch of our government for allowing American citizens to die by refusing to take action against climate change.

Has "King Coal" Been De-Throned?

The coal industry is dying, and they are desperately trying to place the blame for their impending doom on someone other than themselves. The world around them is changing, and the industry is absolutely terrified of change.

“Clean Coal” Fantasy Finally Losing Federal Support, But Industry Never Took It Seriously Anyway

The phrase “clean coal” has about as much merit as saying “sanitary sewage,” but that hasn’t stopped the industry and pro-coal talking heads from repeating that phrase ad nauseum to the American public.

The Orwellian industry buzzphrase was so successful that the Obama administration, as part of the 2009 stimulus package, pledged more than $1 billion to create the largest carbon-capturing system known as FutureGen 2.0. The total cost of the project was estimated at $1.65 billion, with $116 million already spent by the federal government.

But this week, the Department of Energy (DOE) announced it is pulling funding from the project, officially killing the FutureGen 2.0 project. The original goal of the project was to retrofit an existing coal-fired plant near Springfield, Illinois with carbon capture and storage technology to reduce emissions by capturing and storing the CO2 underground.

The FutureGen Alliance – the coalition of companies involved in the project – derided the DOE’s decision, claiming that the federal funding was a “key component” to keeping the project alive.

The official line is that there is “insufficient time” to finish the project before the funding deadline of September 2015. But the government misses deadlines all the time – they impose them upon themselves and then move them as necessary. If the deadline were truly the only issue, they would have simply pushed it back to a more suitable and realistic time frame.

The real reason the carbon capture and storage (CCS) project was scrapped was revealed in a statement by FutureGen supporter and Democratic Senator from Illinois Richard Durbin: “A decade-long bipartisan effort made certain that federal funding was available for the FutureGen Alliance to engage in a large-scale carbon-capture demonstration project. But, the project has always depended on a private commitment and can’t go forward without it.” [emphasis added.]

Durbin’s statement was echoed in a story from RT, which pointed out that the remaining $600 million needed for the project – the portion of funds that were supposed to come from FutureGen Alliance members (the coal industry) – never materialized.

And that’s the part of the story that most of the media is ignoring. The project didn’t die because the DOE pulled taxpayer funding; the project ground to a halt by a lack of interest and investment from the dirty energy industry.

The Coal Industry Owns The Courts (VIDEO)

In early February 2014, Duke Energy reported that a coal ash storage site along the Dan River had crumbled, releasing more than 39,000 tons of toxic coal ash into the waterway. This was not the first time that Duke had been responsible for a massive coal ash spill, and most likely not the last.

In public, the company claimed that it is making all the necessary moves to clean up the mess and prevent future disasters. But behind closed doors, the company was hard at work making sure that its negligence would never hinder its profits. Duke Energy had been paying off the right people to prevent any meaningful form of punishment.

The post-Citizens United world has led to an enormous increase in the amount of money flowing to judicial elections, which was previously an area that very few corporations gave a second look. But with a green light to throw cash around now, they’ve realized that owning the Judicial Branch of American government is just as lucrative as owning a politician.

During the 2014 midterm elections, the state of North Carolina — Duke Energy’s base of operations — became a hotbed for judicial campaign spending. In total, an unprecedented $800,000 was spent on judicial elections by a group called Justice For All NC, with more than $300,000 of that total coming solely from Duke Energy.

A recent report by the Center for American Progress (CAP) shows that elected judges are far more likely to vote in favor of corporations (those who funded their elections) than non-elected judges, explaining Duke Energy’s desire to pump hundreds of thousands of dollars into this campaign.


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