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The election of Barack Obama has put the wind back into the sails of the renewable energy sector, where investor confidence had been badly punctured by the credit crisis. Clean technology and green energy stocks have soared as City analysts predict a major boost from the incoming president. Solar Integrated Technologies rose by 30% yesterday after increases of 22% by Renewable Energy Corporation and 16% by the wind turbine maker Vestas in the 24 hours before, when they were helped upwards by oil prices returning to above $70 a barrel.

Newsweek has an article on how "cleaner energy can create jobs and reignite global growth" - Why It's Time for a 'Green New Deal'. In rented offices on a quiet side street in Paris, not far from the Eiffel Tower, analysts for the International Energy Agency spend long days and nights crunching numbers about oil production and greenhouse-gas emissions. They're the staid, sober global accountants who watch over the power supply for the 30 rich countries that are members of the Organization for Economic Cooperation and Development, and their many reports are dry and technical. But lately, the group's pronouncements have taken on more ominous overtones. With a sense of urgency bordering on desperation, the IEA has begun calling for radical changes in the way the world drives its cars, its factories and, indeed, the global economy. This month the agency will issue a collection of comprehensive reports declaring that "a global revolution is needed in ways that energy is supplied and used." That kind of rhetoric has become familiar to U.S. voters, who've spent months listening to both presidential candidates tout their energy plans. Barack Obama has promised to "strategically invest" $150 billion over 10 years to build a clean-energy economy, one that will create 5 million new green jobs.

Barack Obama and John McCain are promising voters a Tomorrowland of electric cars and high-speed trains and solar panels, a vision of American life without a drop of imported oil. But their plans to get there look more like Fantasyland. A host of energy policy experts agree that true "energy independence"-a key catch phrase of this presidential campaign-would be far more expensive and disruptive than either candidate is telling you.

Liberals say Iraq is another Vietnam; conservatives say Barack Obama is Jimmy Carter redux. ABBA's a mega-hit and Elton John's going to be performing at Madison Square Garden. Had enough of these '70s flashbacks? Brace yourself for another: the return of the national speed limit, courtesy of one of the country's most venerable politicians.

Some GREAT breaking stuff from Obama's town-hall meeting occuring now in Indiana. He opened up with remarks that took McCain to task even harder than he has in the past: "Senator McCain's energy plan reads like an early Christmas list for oil and gas lobbyists. And it's no wonder - because many of his top advisors are former oil and gas lobbyists." Love that he included the fact that his advisors were oil and gas lobbyists. It's as if Barack Obama suddenly woke up and realized all the material he had to work with in going after McCain. But there's much more great stuff:

"For the first time in 10 years Americans are more likely to say the United States should give more priority to developing oil, natural gas and coal than to protecting the environment, according to a poll on Tuesday. U.S. | Green Business The poll was conducted a few weeks before President Barack Obama announced he would open offshore oil drilling in some parts the U.S. East Coast, Alaska and the Gulf of Mexico. Half of 1,014 U.S. adults, who were surveyed March 4-7 by Gallup, said the country should give more priority to developing and producing the fossil fuels. Only 43 percent said protection of the environment should be given priority, even at the risk of limiting the amount of energy supplies."

In remarks delivered Tuesday at the 11th annual Electric Power Conference & Exhibition in Rosemont, Illinois, power industry executives called for more realism and integrity in the Obama administration's energy and environmental initiatives. While praising the creativity and commitment of the administration's energy team, panelists said that what is needed right now is less creativity and more practicality around energy and environmental issues.

"We know the right thing to do," President Obama said about renewable energy at his press conference Tuesday. "We've known the right choice for a generation. The time has come to make that choice and act on what we know.…We have achieved more in two months for a clean energy economy than we have done in perhaps 30 years." Thirty years. Let's see, that would be 1979, right? Hmmm… wasn't that the year -- yes, that was when Jimmy Carter finally got his Grand Energy Plan through Congress, setting us the road to corn ethanol, the Synthetic Fuels Corporation and a host of other harebrained schemes.

One of the nicer Friday News Dumps, this decision comes as a welcome and long overdue shift in government activity on carbon and other global warming gasses. The timing of the announcement, especially under the cover of Obama releasing torture memos from the Bush administration, is interesting - it's already becoming a regular thing for this administration to give it's opponents a few things to chew on in a very short period, and I would bet that many people are more fired up about the torture thing then this EPA ruling. On the other hand: this is a big deal for everyone, be you tree-hugger or capitalist overlord, because the new set of rules for how the country is going to respond to the climate crisis is coming into focus.

The House Energy and Commerce Committee is expected to pass legislation this week that would overhaul U.S. energy and global warming policy, assuming Democrats can stay united in the face of hundreds of GOP amendments. Unveiled Friday, H.R. 2454 (pdf) includes items long sought by environmentalists, including a cap-and-trade program to curb greenhouse gas emissions and a nationwide renewable electricity standard. The 932-page bill, also comes with the support of President Obama, who applauded the "historic agreement" after weeks of intense negotiations among Democrats representing vastly different regions and economic sectors.

In his keynote speech to the GridWeek 2009 Conference this morning, U.S. Energy Secretary Steven Chu detailed his vision for implementing the smart grid and modernizing America's electrical system: a stronger, smarter, more efficient electricity infrastructure that will encourage growth in renewable energy sources, empower consumers to reduce their energy use, and lay the foundation for sustained, long-term economic expansion. Secretary Chu's presentation can be found here. During his remarks, Secretary Chu also announced more than $144 million in funding from the American Recovery and Reinvestment Act for the electric power sector, including $44 million in awards to state public utility commissions and $100 million in available funding for smart grid workforce training programs. "America cannot build a 21st Century energy economy with a mid-20th Century electricity system. This is why the Obama Administration is investing in projects that will lay the foundation for a modernized, resilient electrical grid," said Secretary Chu. "By working with industry leaders and the private sector, we can drive the evolution to a clean, smart, national electricity system that will create jobs, reduce energy use, expand renewable energy production, and cut carbon pollution."

Today, Secretary Steven Chu announced that the Department of Energy has closed on its loan offer of $5.9 billion to Ford Motor Company to transform factories across Illinois, Kentucky, Michigan, Missouri, and Ohio to produce more fuel efficient models. The loan is part of the Department's Advanced Technology Vehicles Manufacturing program, which supports the development of innovative, advanced vehicle technologies to create thousands of clean energy jobs while helping reduce the nation's dangerous dependence on foreign oil. The loan for Ford Motor Company is the first to be finalized since the program was appropriated in the fall of 2008. This announcement builds on steps taken by the Obama Administration earlier this week to require an average fuel economy of 35.5 miles per gallon in the year 2016. That standard will reduce oil consumption by an estimated 1.8 billion barrels, prevent greenhouse gas emissions of approximately 950 million metric tons, and save consumers more than $3,000 in fuel costs. The funding announced today will help Ford meet those targets.

John Holdren, science advisor to President Barack Obama, swung by Blighty today for some tea and crumpets with the Brits. But before embarking on a who's who tour of UK science policymakers, he joined the press in the basement of the US embassy for some all-American cookies and black coffee. Most of his hour-long round table was spent discussing climate change. He expressed some disappointment with the climate change legislation winding its way through the US Congress, but sees it as a make-or-break step for getting an effective international accord out of the UN's Copenhagen conference, which will take place in December. Some of the reporters expressed scepticism that a bill could be passed in time, but Holdren was optimistic, noting that the administration only needed around 12-15 additional votes in the Senate to pass the legislation. "I would still bet that it will happen, but I have to admit that it's going to be a challenge," he said.

In the world of renewables, most of the attention is on the wind and the sun. Geothermal power just hasn't gotten the same respect. That could be changing, as both the Obama Administration and Silicon Valley are considering the heat under the ground as a potentially huge source of clean, domestic U.S. energy, but recent setbacks are calling into question how much geothermal can contribute. Given the potential benefits, we should be doubling our efforts to make geothermal a viable power source for the U.S. Some background: All thermal power plants use the same basic process. A heat source (burning coal or gas, uranium, concentrated solar energy) is used to turn water into steam, and the energy released turns a turbine that produces electricity. What sets geothermal apart is that the steam comes directly from the ground. Water percolates down through cracks in the ground and is heated to the boiling point by hot rocks underground (in some cases coming back up as a geyser - think Old Faithful), and the resulting steam is drawn up via a well to a turbine.

"Obama tried cutting oil subsidies in his very first federal budget proposal, and it didn't fly. He and the Democratic members of Congress tried again earlier this year, hoping that the Tea Party's incessant yelling for spending cuts would translate into Congressional support for one of the most obvious spending cuts in the history of spending cuts. But no such luck. And get this: The true amount we pay in oil subsidies is waaaaaaaaaaaaay more than $4 billion a year. In fact, the far-right libertarian think tank the Cato Institute once calculated the true cost of subsidizing oil to be in the range of $78-150 billion -- yep, billion -- per year. A lot of these expenditures come from the massive amount of security needed to protect oil, both at its source in volatile regions and along international shipping routes 'round the world. The US gov expends much effort and capital to help safeguard the oil companies' product and operations -- it's in the national interest, after all, that everyone be able to continue purchasing Exxon gasoline. So you'd think that paring a comparatively meager $4 billio"

The election silenced the cries of "Drill, baby, drill." Plunging oil prices have stilled the hand-wringing over energy security. With all eyes on the economy, veterans of past oil shocks may wonder whether Americans will once again forget about weaning the nation off suddenly cheap oil. This time, though, looks different. Nearly 30 states, including Florida, are forging plans to boost renewable energy and slash greenhouse gases. Business leaders nationwide have called for a clear, nationwide policy. A political consensus has emerged in Washington that something must be done.

Nevada's Harry Reid carries considerable influence as Senate majority leader, but you might not know it from watching him. He shuns self-promotion and avoids the social circuit; he once passed up a White House state dinner honoring Queen Elizabeth II to stay home with his wife. He can be taciturn, even dour on television, and often speaks in such a whisper that, to start off 2008, he revealed a New Year's resolution: "I'm going to try to talk louder." But he more than makes up for any stylistic shortcomings by being the consummate inside player. Reid called his 2008 autobiography "The Good Fight," a reference to the combative ex-boxer's willingness to enter a tussle. As leader of the Senate Democrats in the 111th Congress (2009-10), Reid can expect far fewer scraps with the White House than when it was in Republican hands, plus an expanded base of Democrats that will give him greater leeway to operate. But he isn't assured of a totally peaceful life.

Tomorrow, Wednesday, February 18, U.S. Energy Secretary Steven Chu will deliver the opening keynote address at the 2009 DOE-NARUC National Electricity Forum. In the address, Secretary Chu will outline the Administration's commitment to modernizing the nation's electricity distribution system through a "Smart Grid" that will create new jobs, save consumers money, use energy more efficiently and avoid blackouts, and pave the way for a dramatic expansion in renewable energies such as solar and wind power. He will also discuss the immediate and long-term impacts of the President's American Recovery and Reinvestment Act in creating jobs and investing in a clean energy future.

Summary: In an article about President-elect Barack Obama's emphasis on alternative energy production in his economic stimulus speech, Reuters quoted criticism of Obama's plan by Thomas Pyle of the Institute for Energy Research. However, the article did not mention the Institute for Energy Research's ties to the oil industry or that Exxon Mobil Corp. has funded the organization.

Since oil gushed from Spindletop in 1901, the Houston area has been the energy capital of the United States and a major destination for federal dollars devoted to oil and gas production. But the mammoth economic stimulus bill that is winding its way through Congress largely bypasses Houston-based energy giants and fossil-fuel development in favor of funding new technologies to glean power from crops, the sun and heat trapped beneath the earth. "There's not a lot of oil and gas" money in the stimulus bill, said Rep. Gene Green, D-Houston.