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
(CNNMoney) - The State Department said Friday that the Keystone pipeline expansion should have no significant effect on the environment along its proposed route, but stopped short of saying whether or not the controversial pipeline should be approved.
If the company behind the pipeline, TransCanada, follows all the rules, its "construction and normal operation" of the pipeline should pose no major risks, the State Department said in its draft environmental impact statement. That statement is now open for a 45-day public comment period, after which the Obama administration will make its decision about the pipeline.FULL STORY
New York (CNNMoney) - Barack Obama's re-election may have seemed like a sure win for solar and wind power, given the President's history of supporting green energy.
But the optimism quickly darkened in the aftermath. In the days following the election, renewable energy stocks fell, along with the broader market.FULL STORY
New York (CNNMoney) - Climate change is once again a hot topic in the Untied States.
Hurricane Sandy brought the issue back into the spotlight just days before the presidential election. Pundits were quick to note the irony of a massive superstorm striking after three presidential debates that didn't mention climate change once.FULL STORY
New York (CNNMoney) - President Obama is getting hammered for funding renewable energy companies that have since gone belly up.
During the first presidential debate, Mitt Romney said half of the companies Obama funded in the first two years through the program that supported Solyndra went bankrupt. That is true, in terms of that specific program, for just those two years.FULL STORY
New York (CNNMoney) - Over 770,000 homes weatherized. A doubling of energy from wind and solar. Cleaning 688 square miles of land formerly used for Cold War-era nuclear testing.
These are just some of the 'green' benefits from money spent under 2009's $787 billion stimulus package. Whether it was worth it is an open question, and one sure to come up in greater frequency as the presidential campaign enters its final weeks.FULL STORY
NEW YORK (CNNMoney) - The labor market lost momentum last month as job growth fell to a disappointingly slow pace.
The unemployment rate fell, but that was largely due to people who stopped looking for jobs.FULL STORY
New York (CNNMoney) - The Obama administration will go ahead with more drilling in Arctic waters, though at a pace that allows for more research before additional permits are granted.
The administration will hold new lease sales for oil companies to drill in the Chukchi and Beaufort Seas just north of Alaska, Interior Secretary Ken Salazar said Tuesday in a conference call with reporters.FULL STORY
New York (CNNMoney) - Tensions with Iran are adding at least 30 cents to a gallon of gasoline in the United States, and experts say gas prices have only just begun to rise.
Gasoline prices have surged over 10% in the last two months, largely tracking the runup in oil prices, which have increased by a similar amount and are now at a 9-month high.FULL STORY
New York (CNNMoney) – Electric car battery maker Ener1 filed for bankruptcy Thursday, three years after receiving a $118.5 million grant from the U.S. government.
Ener1, which makes a variety of energy storage devices under different subsidiaries, is the parent company of EnerDel, the car battery division that received the government grant to help build a manufacturing plant in Indianapolis.FULL STORY