Key Points Contained in Climate and Energy Bill Passed by U.S. House of Representatives
June 29, 2009
House Narrowly OKs Sweeping Climate Change Bill | www.dallasnews.com
The U.S. House of Representatives narrowly passed the American Clean Energy and Security Act of 2009 (“ACES”) on June 26, 2009. The discussion below contains the key points in the Bill now headed to the Senate for debate and action.
April 27, 2009
Coal Prices Crumble | www.forbes.com
Both steam and metallurgical coal demand are down. United States steam coal (for electricity generation) is down due to the economic slump affecting industrial demand and switching to cheaper natural gas-fired electricity generation in some areas of the nation. Metallurgical coal demand is down due to the crushing drop in steel production domestically and globally. Although coal demand is down significantly, it does not necessarily allow coal under contract to be excused for purchase.
April 27, 2009
Administration Stops Short of Endorsing Climate Bill | www.nytimes.com
House Democrats issued a draft climate bill titled “The American Clean Energy and Security Act of 2009” on March 31, 2009 which proposes to reduce CO2 emissions and require the development of renewable energy on a nationwide scale. The section that follows highlights important provisions contained in this 648 page draft bill.
Potential New Emissions Rules: Effect on Electricity Generation
April 27, 2009
Central New York Rep. John McHugh Takes Aim at Acid Rain | www.syracuse.com
Some in Congress are using the debate in Washington, DC on carbon tax to also include additional limits on mercury, nitrous oxide (NOx), and sulfur dioxide emissions (SO2) from coal plants. Many proposals have been floated in Congress (one of which is linked here) to limit these emissions. If any of these proposals were to pass and become law, it will have significant impact on electricity generation.
Burn Likely to Continue to Be Down for Several Months
April 27, 2009
Genscape Coal Burn Falls 2 Percent Below Same Week 2008 | uk.reuters.com
Domestic thermal coal demand is likely to continue to be down for several more months, with nothing positive on the immediate-horizon.
Key Features of Draft Climate Bill
March 31, 2009
Democrats Unveil Climate Bill | www.nytimes.com
House Democrats issued a draft climate bill titled “The American Clean Energy and Security Act of 2009” on March 31, 2009 which proposes to reduce CO2 emissions and require the development of renewable energy on a nationwide scale. The section that follows highlights important provisions contained in this 648 page draft bill.
Potential Setback for Central Appalachia Mine Permits
March 24, 2009
EPA Halts Hundreds of Mountaintop Mining Permits | www.miamiherald.com
EPA sent two letters to the U.S. Army Corps of Engineers expressing serious concerns about the need to reduce the potential harmful impacts on water quality caused by certain types of coal mining practices, such as mountaintop mining. The letters specifically addressed two new surface coal mining operations in West Virginia and Kentucky. EPA also intends to review other requests for mining permits. This EPA action follows shortly after the Court’s favorable ruling on the mining practice in February 2009. This EPA action may negatively affect the producers.
March 24, 2009
2009 EPA Allowance Auction Results | www.epa.gov
SO2 allowances are traded daily in the broker and private party markets. The value of these credits are down substantially, affecting both the cost to generate electricity on coal and the realized sales price received by coal suppliers.
Potential Consequences of EPA’s Proposal Regarding Global Warming on Infrastructure Projects
March 23, 2009
EPA: Global Warming Endangers Health. Finding Could Have Far-Reaching Implications for Economy and Environment | www.washingtonpost.com
Back in Spring 2007, the U.S. Supreme Court ruled in a 5-4 decision that the Environmental Protection Agency (EPA) may regulate carbon dioxide (CO2) emissions. It appears the EPA in the new Presidential Administration may be moving forward in declaring global warming endangering health, requiring regulation on CO2 emissions. The analysis section below discusses how this could have an effect on infrastructure projects.
Carbon Cap and Trade Program – Structure and Cost on Fossil Fuel-Fired Electricity
March 23, 2009
Obama Proposal Angers Coal Industry, Including Southern Indiana’s Duke Energy | www.newsandtribune.com
The proposals by the Administration in Congress for a reduction in carbon dioxide (CO2) emissions include what is called a “Cap and Trade” program. Under a Cap and Trade program, the amount of annual CO2 emissions would be capped and an entity would have to have a CO2 allowance for each ton (or metric ton depending on the final wording of the law) emitted during the year.
Big-Foot YRC Drops the Other Shoe on Shareholders
November 3, 2009
Bombardier Barbs Shows CSeries Can't Cut The Mustard
November 2, 2009
New 777 Depends On 787 Success
October 13, 2009
Another Leash on Life for YRC Worldwide
October 12, 2009
Airbus Lost $7.5bn+ Trying to Flog the A350XWB
August 28, 2009