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As Mike wrote a while back, even the Prius can't save Toyota. On Monday the world's biggest car-maker announced that, in contrast to 2007's 2.3 trillion yen operating profit, for the past year the company made an operating loss of 150 billion yen. Furthermore Toyota confirmed they are freezing the scheduled opening of their new Mississippi factory, which was expected to produce new Prius models for the US market. However, the Australian Federal Government believe their deal with Toyota to build a hybrid Camry plant in Victoria is still on track. They are kicking in $35 million AUD on the proviso that it does proceed. The New York Times reports that Toyota's president, Katsuaki Watanabe told the media conference, that "The change in the world economy is of a magnitude that comes once every hundred years," going on to comment, "We are facing an unprecedented emergency." Such that the company apparently has unplugged electric hand dryers at some offices in an effort to cut costs.

The International Renewable Energy Agency (IRENA), the first multinational agency focused solely on spreading clean energy across the globe, officially launched this week. The expectations are that the agency will help governments and private industry to expand renewable energy installments throughout the industrialized world, where investments are already on the rise, while also assist the developing world acquire the expertise to establish its own clean energy industries.

I joined SCE because I had a deep interest in the subject of energy and electricity. At the time I naively thought it would be a good way to start a career. I have remained here for 30 years because it offered challenging assignments and good people to work with.

On election day, the Bureau of Land Management in Utah quietly announced its last round of oil and gas lease sales for the year. On Dec. 19, close to 400,000 acres of America's redrock wilderness -- much of it adjacent to Arches and Canyonlands national parks and Dinosaur National Monument -- were to be sold for drilling to the highest bidders. Public outcry was fierce. The National Park Service had not been consulted, as it usually was, and much of the land listed for auction had long been proposed for wilderness protection. The BLM succumbed to the pressure and met with the National Park Service, which asked that 93 oil and gas leases be removed from the list. The BLM backed off 22 parcels, and then later deferred other leases in sensitive areas. From a cynical perspective, the lease sale announcement could be seen as a fire the BLM set intentionally around the edges of Utah's most precious natural treasures, knowing it could extinguish the flames, emerge as a reasonable land steward and still get what its current boss, the Bush administration, wants -- more and more public land in the American West to exploit.

In 1970 James Gustave Speth co-founded the Natural Resources Defense Council, which has become one of America's most well-endowed and high-profile environmental organizations. He worked in the White House under President Carter, chairing the Council on Environmental Quality; when Bill Clinton and Al Gore were elected in 1992, Speth was a senior adviser to their transition team. He spent the 1990s as the administrator of the United Nations Development Program, where he integrated environmental sustainability into the agency's poverty-fighting mission. Thus, what follows--his call for a radical departure from the movement's current strategy--comes from the ultimate environmental insider. --The Editors I grew up in a small town on the Edisto River in South Carolina in the 1940s and '50s. As a boy, I often swam the Edisto, though at first I could not buck the river's current. But as I grew older and stronger, I was able to make good headway against it. In my environmental work for close to four decades, I've always assumed America's environmental community would do the same--get stronger and prevail against the current. But in the past few years I have come to the conclusion that this assumption is incorrect. The environmental community has grown in strength and sophistication, but the environment has continued to deteriorate. The current has strengthened faster than we have and become more treacherous. It is time to consider what to do besides swimming against it.

This cartoon requires Macromedia's Flash Player. If you don't see the cartoon above, download the player here. Mark Fiore is an editorial cartoonist and animator whose work has appeared in the Washington Post, the Los Angeles Times, the San Francisco Examiner, and dozens of other publications. He is an active member of the American Association of Editorial Cartoonists, and has a web site featuring his work.

- The U.S. auto industry weathered the Great Depression. But there are some fears that its current crisis could cause another one. During a hearing on a proposed $25 billion federal bailout of the industry Wednesday, GM CEO Rick Wagoner used the D word to describe what might happen if Congress didn't approve some sort of rescue package.

Shares of General Motors Corp. soared in afternoon trading, reversing the morning's historic plummet, on news of a deal that could result in a financial bailout of the automaker industry. But the plan, which could throw the Detroit Three a government lifeline worth billions, still faces an uphill battle in a reluctant Senate.

The arrival of more fuel-efficient cars and trucks promising cleaner air and more energy independence is being set back as automakers worldwide scramble to hoard cash in an industry meltdown. Carlos Ghosn, CEO of Japan's Nissan Motor and France's Renault, on Wednesday warned that automakers "can't find the financing" for aggressive development of so-called green cars. In a keynote speech at the L.A. Auto Show media preview, Ghosn said companies must husband cash to survive an auto recession expected to last until 2010.

Auto industry allies hope to secure up to $50 billion in government loans this month that would pay to modernize plants and help struggling car makers build more fuel-efficient vehicles.

n environmental action group founded by former vice president Al Gore is accusing ABC of censoring an advocacy ad the group paid to air on the network. The Alliance for Climate Protection late Wednesday sent an e-mail blast to supporters with the ominous subject line, "ABC won't air our ad."

Enron was a participant or observer in the following events: There's a lot!

Rising fears of a global economic downturn are sinking crude oil prices and driving down the share prices of major oil companies despite the industry's record profits of the last two years. Exxon Mobil Corp., the largest U.S. company and largest Western oil company by market capitalization, has lost 17% of its share price since January, its worst showing since 1981. Its smaller peers are doing worse. The stock prices of Chevron Corp., BP PLC, Royal Dutch ShellPLC, Total SA and ConocoPhillips, the largest western oil companies, all hit new 52-week lows during the day on Monday.

One thing has been driving me crazy about this drilling debate - everyone seems to assume that if we drill for oil in the US, that we will get the oil. And hence, we won't be dependent on foreign oil anymore. But we won't get anything, Exxon-Mobil will. The oil that comes from that drilling will not be United States property (Republicans aren't suggesting we nationalize the oil companies, are they?). It will be the property of whichever oil company got the rights to that contract. They can then sell it to whoever they like - and they will. They will sell it on the world market, so the Chinese will have just as much access to the oil that comes out of the coast of Florida as we will.

A former colleague of the US Vice-President, Dick Cheney, has pleaded guilty to funnelling millions of dollars in bribes to win lucrative contracts in Nigeria for Halliburton, during the period in the Nineties when Mr Cheney ran the giant oil and gas services company. Albert Stanley, who was appointed by Mr Cheney as chief executive of Halliburton's subsidiary KBR, admitted using a north London lawyer to channel payments to Nigerian officials as part of a bribery scheme that landed some $6bn of work in the country over a decade.

Detroit automakers, the UAW and their allies on Capitol Hill will launch an all-out blitz over the next few weeks for up to $50 billion in government loans over the next three years -- money the companies say would help them survive one of their darkest periods.

Congress may outlaw elements of oil futures trading that lawmakers found distorted demand and contributed to the 69% surge in prices in the past year. US legislators are considering limits on the number of oil contracts an investor can hold and may increase disclosure requirements. Speculators such as Goldman Sachs Group use the practices to bet on price swings, which may drive up prices, though they have no intention of taking delivery of underlying goods, lawmakers say.

If you want to flush out market manipulation, don't turn to the sleuths in Congress. They've been probing trading of the oil markets for two years and completely missed a company at the center of the action. During that period, a barrel of crude oil has risen from $50 to $140, leaving a wide swath of Americans facing a choice this coming winter of buying food or paying their heating bill.

If you want to flush out market manipulation, don't turn to the sleuths in Congress. They've been probing trading of the oil markets for two years and completely missed a company at the center of the action. During that period, a barrel of crude oil has risen from $50 to $140, leaving a wide swath of Americans facing a choice this coming winter of buying food or paying their heating bill.

ExxonMobil has pumped more than $8 million into more than 40 think tanks; media outlets; and consumer, religious, and even civil rights groups that preach skepticism about the oncoming climate catastrophe. Herewith, a representative overview.