In the News
Scientists Offer New Reason to Curb GHG Emissions: Prevent Pre-Emptive Attack by Space Aliens
Marlo Lewis, GlobalWarming.org, 19 August 2011
Dead Birds Are the Unintended Consequence of Wind Power
William La Jeunesse, Fox News, 16 August 2011
New You Can Use
Peer-Reviewed Study: IPCC Climate Models Overestimate Warming
According to a new study in the peer-reviewed Asia-Pacific Journal of Atmospheric Science co-authored by MIT atmospheric science professor Richard Lindzen, real-world observations demonstrate that a doubling of atmospheric humidity would likely cause 0.7 degrees Celsius of global warming—about a third of the warming that is predicted by the Intergovernmental Panel on Climate Change. The study suggests that computer models overestimate the climate’s sensitivity to increased greenhouse gas emissions.
Inside the Beltway
CBO Scores Green Bank
This week the Congressional Budget Office released a report estimating the cost of a proposed green bank known as the Clean Energy Deployment Administration (CEDA). CEDA was part of the Clean Energy Financing Act, which was passed by the Senate Energy and Natural Resources Committee in July. Ranking Member Lisa Murkowski (R-Alaska) sided with Committee Democrats in voting for the measure.
According to the CBO, the green bank would cost taxpayers $2.5 billion directly from 2012-2016, but the potential costs are much greater. That’s because the $2.5 billion would leverage about $20 billion in loans for risky renewable energy projects. If any of these loans defaulted, taxpayers would be fully responsible.
Notably, CEDA’s model is the Department of Energy’s Loan Guarantee Program, which has been red-flagged repeatedly by federal watchdogs. This stands to reason, as creating a green bank from scratch is well outside the Energy Department’s core competencies.
Across the States
Today, The New York Times reported that California has spent half of $186 million in stimulus money earmarked for energy efficiency, in order to create 538 full time jobs, at a cost of almost $173,000 per job. For more on the dubious economics behind the president’s push for green jobs, read this testimony by Ken Green of the American Enterprise Institute.
In 2008, buoyed by $58 million in subsidies from the Massachusetts government, Evergreen Solar opened a solar power components manufacturing plant in Devens. A year later, the company moved operations to China. This week, it announced it was bankrupt, with more than $450 million in debt. Massachusetts is owed more than $40 million, but it is unlikely to recoup any money.
At Master Resource, Kevin Mooney reported yesterday that ten oil rigs have left the Gulf of Mexico since the Obama administration imposed a moratorium on deepwater oil and gas drilling in May 2010. There were 33 rigs in operation at the time of the BP disaster, which means that 30 percent of rigs have departed. And they aren’t coming back. The rigs left the Gulf for locations in Egypt, Congo, French Guiana, Liberia, Nigeria and Brazil.
Around the World
Enviros To Protest Keystone Pipeline
Thousands of environmental activists—led by wealthy celebrities—will flock to Washington, D.C., beginning tomorrow, August 20 to demand that the Obama administration prohibit construction of the Keystone XL pipeline. The pipeline, which requires approval by the State Department, would deliver oil from the Canadian oil-sands in Alberta down through western states to refineries in Oklahoma and Texas.
Through Hillary Clinton, the State Department has previously signaled support for the pipeline project, though they are undoubtedly having second thoughts as this issue has led to predictable hysteria by environmentalists, with NASA‘s infamous climatologist James Hansen claiming that development of the oil sands is equivalent to a “game over” for global emissions reductions.
The Cooler Heads Digest is the weekly e-mail publication of the Cooler Heads Coalition. For the latest news and commentary, check out the Coalition’s website, www.GlobalWarming.org.