Oil continues to fall as Merrill Lynch predicts even greater losses
With fears of a prolonged global recession and decreased demand for oil, crude fell to below $44 per barrel on Thursday, the lowest price since January 2005. This is off 70% from the commodity’s high in July of this year.
Further compounding fears of loose demand, Merrill Lynch predicted that oil could potentially fall below $25 per barrel next year if the recession spreads to China. Of course, this is the same Merrill Lynch that bet its entire company on the assumption of an eternal upward climb in the subprime housing market.
BrightSource solar recognized by World Economic Forum as a Technology Pioneer
BrightSource Energy, Inc., an American-Israeli company that develops solar thermal energy plants has be recognized by the World Economic Forum as a 2009 Technology Pioneer.
The WEF, which is best known for its yearly meeting in Davos, Switzerland, is a non-political, not-for-profit organization that is “committed to improving the state of the world.” To be a Technology Pioneer, a company must be involved in the development of life-changing technology innovation and have the potential for long-term impact on business and society.
BrightSource was given this recognition based upon its development of its clean and efficient solar thermal technology, known as the Luz Power Tower. See the above video for an overview of the technology.
Around the globe, there are 4.2 GW worth of solar energy currently being developed using BrightSource’s technology, including the massive solar plant being developed just outside of Los Angeles.
Burps, farts, and other crazy emissions from livestock a major source of greenhouse gases
NYT’s Elisabeth Rosenthal has a good article about greenhouse gas emissions from global agriculture. As we’ve noted, the debate over livestock emissions is heating up in the US as the EPA considers a regulation scheme. But even as US farmers gear up for a fight, there are indications from around the world that this is a major problem that must be addressed.
Because of increasing worldwide affluence, millions of people who have lived mostly on less expensive grains are now able to add meat to their diets. And those in the developing world are, of course, continuing to consume large amounts of meat.
This is an environmental nightmare, since according to the UN, activities relating to the production of livestock account for 18% of global greenhouse gas emissions. This is more than that released by cars, buses, and airplanes. READ MORE
Huge offshore wind farm receives British government approval
What will be one of the world’s largest offshore wind farms has been approved by the British government to be built off the coast of northern Wales. The 250 turbine Gwynt y Môr farm will generate 750 MW and is scheduled to come online in 2012.
The approval of this wind farm comes around the same time that the US government approved its own offshore farm near Cape Cod. And like the Cape Wind proposal, the British project has also faced tough opposition from locals protective of their scenery and tourism.
While I can’t be sure of this, I have a feeling that these NIMBYs are going to be proven very wrong. Having seen all three of the major wind farms in California, I think people are going to be drawn to the sight of these gigantic windmills and the unique scenery they create. Fortunately, we’ll know soon enough.
US emissions increased by 1.4% in 2007 due to extreme weather conditions
Reuters reported on Wednesday that greenhouse gas emissions in the United States increased by 1.4% last year. The increase is attributed to extreme weather conditions which caused consumers to increase usage of heaters and air conditioners, as well as a decrease in hydroelectric power due to the drought in the Western and Southeastern US. Hydroelectric power, while destructive to the surrounding habitat, is virtually emissions free. The loss of hydroelectric power was compensated for by an increase in dirty coal and natural gas power.
Test drive video of the Zenn neighborhood electric vehicle (NEV)
Following up on our post about Zenn Motors opening a dealership in the Bay Area, here is a test drive video of the Zenn.
Zenn Motor Company to open dealership in the Bay Area
A local NBC affiliate in San Francisco is reporting that Zenn Motor Company will be opening a dealership in the Bay Area.
Zenn, which produces neighborhood electric vehicles (NEV), is an acronym for “zero emissions, no noise.” The company is based and manufactures its cars in Canada. Zenn’s flagship NEV, the “Zenn” can travel at speeds of 25 miles per hour, has a range of 40 miles, and a price tag of around $15,000. The Zenn can be recharged in a standard outlet in as little as 4 hours.
Zenn also is working on an electric vehicle called the cityZenn that should be able to travel at highway speeds.
Missing the link between climate change and terrorism
Apparently in a recent speech, former President Clinton ranked climate change higher than terrorism on a list of global concerns. This has provoked a somewhat heated critique by some, who either don’t believe climate change is real, or think that terrorism is a greater threat than climate change. To those on the fringe who fall into the former category, we hopelessly direct you here, but to those who reasonably fall into the latter category, we have a suggestion–
It doesn’t matter which is a “greater” threat. Time spent debating this issue is a missed opportunity. This is because climate change and global terrorism have a very real relationship, and if the two issues are framed as such, we will be much more likely to achieve meaningful progress in addressing them both. READ MORE
Save the Hummer! Colbert Report parody of ‘Hummer Conservationists’
While I’m not usually a big fan of the Colbert Report, this is a great video about “Hummer conservationists.” Money quotes: “Between the machine guns on the front, to the grenade on the shifter, all the way to the guy on the back with the laser designator, if that’s not patriotic, I don’t know what is.” And: “If we can save the Hummer, we can save America.”
Hat-tip: DotEarth
Climate change could create 250 million to one billion climate refugees
While speaking with reporters at the UN Climate Change Conference in Poznan, Poland, Jose Riera, a senior policy advisor for the UN High Commissioner for Refugees, said that widespread population displacement is likely to occur as a result of climate change. He warned that it is “the elephant in the room” that everyone wants to ignore.
Some predictions state that as many as 250 million to one billion people could be displaced by 2050 as a result of climate change. These displacements will not be limited to people who are directly affected by climate events, such as flooding from rising sea-levels. Instead, there could be widespread indirect effects resulting from these climate changes, including war and famine. In fact, some attribute the war in Sudan’s Darfur region as an example of a situation where climate change (drought) drove an already stressed region over the brink.
Rare Australian possum may have gone extinct due to climate change
Another canary in the climate has been identified in Australia, except this time the threatened creature is a mammal and it appears to have already disappeared. The creature in question is the white lemuroid possum, and it hasn’t been seen in its home in the Daintree rainforest of Queensland, Australia since 2005.
Scientists are attributing the possum’s disappearance to the 1.5 degree F rise in temperatures in the region. The fragile creature’s habitat was above 3,000 feet in the “cloud forest.” If actually extinct, the loss of the white lemuroid possum, now known as the “Dodo of the Daintree,” would be a major warning sign that we are causing great damage to our plant’s ecosystem. Whether we heed that warning remains to be seen.
Better Place to bring electric car network to Hawaii
Electric car infrastructure company Better Place and the state of Hawaii announced on Tuesday that they would be pursuing a plan to build an electric vehicle charging system in that state. The system will be comprised of a network of recharging and battery swap stations.
Hawaii will join Israel, Denmark, Australia, and the San Francisco Bay Area, as a participator in Better Place’s ambitious plans. As an island, Hawaii is a natural fit for Better Place’s model. The island is completely dependent on imported oil and most residents do not need to drive more than 100 miles per trip.
Better Place founder Shai Agassi states, “We always knew Hawaii would be the perfect model. The typical driving plan is low and leisurely, and people are smiling.” Better Place hopes to have mass-market availability in Hawaii by 2012.
The plan calls for the electricity to be purchased from the Hawaiian Electric Company, which has promised to increase its use of renewable energy for the grid.
Proposed offshore wind farm near Cape Cod to take a big step forward
A giant offshore wind farm in the waters near Cape Cod is expected to take a big step forward this week with the anticipated approval of the final environmental review by the federal Minerals Management Service. If this project moves forward, it will be the first offshore wind farm in the United States.
The 130 turbine, 170 MW wind farm is planned for the waters of Nantucket Sound and will be positioned about five to eight miles offshore. The project is being built by Cape Wind and will cost around $1 billion and could open by 2011 if the process does not get tied up in court. READ MORE
CEOs trying to “save an industry” drive themselves to Washington
The AP reports that Ford CEO Alan Mulally and GM CEO Rick Wagoner planned to drive to Washington to ask Congress a second time for a bailout. Chrysler says CEO Robert Nardelli will not travel by corporate jet, but won’t disclose his arrangements due to “security reasons.”
While we’re not huge fans of the bailout, and even less fans of the CEOs of these companies, we still think the private jet fiasco was overblown. Now, instead of spending their time trying to right their sinking ships, the CEOs are driving their cars to Washington. Really?
Our only concern is– we’d feel more comfortable defending the CEOs’s use of private jets during this crisis if we were confident that they were actually spending all of their time working to fix their companies. However, given the sad state of their companies and the public relations nightmares they’ve allowed to occur under their watches, who knows how hard they are actually working? How capable can these guys be if they think driving from Detroit to Washington is a good idea? If they can’t fly private, how about commercial? It still must be faster than driving.
One thing is for sure though– they will now spend a good portion of their time this week driving to and from Washington instead of in the office. Is it naïve to think they at least hired a driver so they could work in the backseat?
Is a Detroit bailout a bridge loan or a black hole?
As the Big Three CEOs return to Congress to make their case for a taxpayer bailout of their companies, industry spokesman Senator Carl Levin, D-Mich stated:
“I believe the industry will make a compelling case for bridge loans that will allow the companies to return to firm financial footing, and they will lay out plans for continued restructuring and advanced technology products, all of which was underway prior to the global economic collapse.”
If this was truly just a case of a bridge loan to get the automakers past the global recession we are in, I don’t think there would be nearly as much opposition. The problem is, that despite the rationalization made by Senator Levin, the automakers had been destined for trouble long before the economic crisis. The economic downturn was merely the straw that broke the Big Three’s back. READ MORE
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