New York (CNNMoney) - President Obama hasn't decided whether he will approve the expansion of the controversial Keystone oils sands pipeline just yet. But in a strange turn of events, some opponents of the plan are finding support for their position from an unlikely source: Wall Street.
Obama has long said that he will only approve the project if it doesn't significantly contribute to climate change. He reiterated that in a recent interview with The New York Times. The State Department has said it won't because it thinks the oil sands, which are dirtier than conventional oil, will get developed no matter what happens to Keystone. In other words, that oil is going to leave Canada somehow ... so it might as well be through the United States.FULL STORY
New York (CNNMoney) – Coal company stocks have taken a hit lately, as a global oversupply and pending climate change rules from the Obama administration weigh on the sector.
The Market Vectors Coal Index ETF is down 17% in the last 30 days. Some individual companies have fared even worse. Shares of Peabody Energy Corporation have plunged nearly 30% from a month ago, as have shares in Yanzhou Coal Mining. Shares in Westmoreland Coal Co. are down about 10%.FULL STORY
Washington (CNN) – President Barack Obama will announce his plans to "reduce carbon pollution" in a climate change speech next week, the White House announced Saturday.
"There's no single step that can reverse the effects of climate change. But when it comes to the world we leave our children, we owe it to them to do what we can," Obama said in a video released on the White House's YouTube page.
(CNN) – Online ads, backed by a six-figure buy from a conservative group, are hitting the web urging lawmakers to oppose a tax on carbon emissions.
The campaign from Americans for Prosperity goes after senators and representatives from 15 states, and begins with a budget of $175,000, according to a release from the organization.
(CNN) – During the GOP weekly address Saturday, Republican Gov. Sean Parnell of Alaska called on the Obama administration to make more efforts to tap into domestic energy resources.
The governor said his state is prepared to pay millions in a partnership with the federal government to explore the Arctic National Wildlife Refuge for precise estimates of its energy potential.
(CNN) - Jobs, say hundreds of thousands of people. Pollution, say hundreds of thousands of others.
They say that's what a proposed oil pipeline would bring into the country, as it transports crude from massive deposits in Canadian tar sands to refineries and ports in the United States.FULL STORY
(CNN) – When President Barack Obama visits Ellicott Dredges Friday in Baltimore, he'll announce he's signed a presidential memorandum meant to hasten federal permitting processes, thereby creating jobs.
But the owner of the company, Peter Bowe, has another idea for getting Americans to work: approve the Keystone XL oil pipeline, a project Republicans say would create jobs and foster energy independence but some Democrats argue would pose serious environmental risks.
(CNN) – The Senate on Thursday confirmed Massachusetts Institute of Technology physicist Ernest Moniz to be the next Secretary of Energy, replacing Steven Chu.
The vote was 97-0, with three senators (Roy Blunt, R-Missouri; Tom Coburn, R-Oklahoma; and Jerry Moran, R-Kansas) missing the vote.
(CNN) - Continuing a relationship first established in the run-up to Superstorm Sandy, President Barack Obama sat down with representatives from the electric utility industry on Wednesday to discuss ways the federal government can help companies quickly restore power after major disasters.
According to accounts from two industry executives in attendance, much of the meeting focused on improving responses to natural disasters, but both industry and government officials also drew parallels to potential outages caused by a major cyber attack.
(CNN) - Republican Gov. Pat McCrory called on President Barack Obama to grant states more flexibility on issues such as health care and energy during the GOP's weekly address.
The new governor, who was elected in November, said state government can improve if it has the freedom to be more efficient, like a "smartphone."