An attempt by environmentalists to limit CO2 emissions from coal-fired power plants in Wyoming has failed. The Wyoming Supreme Court ruled against environmentalists last week, as it concluded that CO2 is not "subject to regulation" under the Clean Air Act.
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According to multiple reports, Senator Graham (R-SC) has told environmentalists that any climate legislation that includes a cap and trade program is “dead.” The trio of Senators—Graham, Kerry (D-MA), and Lieberman (I-CT)—now plan to introduce legislation that will include a sector-by-sector approach to reducing greenhouse gas emissions.
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The White House Council on Environmental Quality (CEQ) has issued draft guidance for incorporating greenhouse gas consideration into National Environmental Policy Act (NEPA) analyses. The guidance explains how federal agencies should handle the environmental impacts of greenhouse gas emissions and climate change when examining the environmental impacts of proposed actions under NEPA.
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President Obama today announced the first federal nuclear power loan guarantee. The $8 billion loan guarantee will go to Southern Company so that it can build two new reactors in Georgia. The President said the loan guarantee will help “build a new generation of safe, clean nuclear power plants in America." He went onto say, “Make no mistake: whether it is nuclear energy, or solar or wind energy, if we fail to invest in these technologies today, we'll be importing them tomorrow.” This is all part of the administration’s efforts to move toward a clean energy economy and help reduce greenhouse gases at the same time. Under the 2011 fiscal budget, the White House has proposed tripling the loan guarantee program to $54 billion so that it can support seven to ten new nuclear reactors.
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The Environmental Protection Agency (EPA) is looking at ways to expand its greenhouse gas registry, which was finalized in October. The EPA is attempting to develop new rules that would bring oil and gas operations, carbon sequestration sites, and fluorinated GHG sources into the registry. They are also holding discussions on how to create a new rule to make it easier to calculate emissions for corporations.
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As a follow-up to last week's blog regarding the SEC's decision to issue guidance regarding disclosures related to climate change, the text of the guidance is now publicly available here: http://www.sec.gov/rules/interp/2010/33-9106.pdf.
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President Obama unveiled his 2011 fiscal year budget today. Unlike last year’s budget, which assumed an amount of revenue from a cap-and-trade program, this year’s budget contains only a place holder for such revenue. Of couse, the establishment of the cap-and-trade program faces a tough road in Congress.
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Today, the U.S. Securities and Exchange Commission voted 3-2 to issue guidance for how publicly traded companies should handle reporting related to climate change. The SEC considered and approved “a recommendation to publish an interpretive release to provide guidance to public companies regarding the Commission's current disclosure requirements concerning matters relating to climate change.”
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Tonight, President Obama will give the annual State of the Union address and he will likely make a push for passing climate change legislation in 2010. Climate change legislation is currently not at the top of the Senate’s agenda, and it appears the President hopes that his speech will give it the nudge it needs to move forward. He recognizes that moving the bill forward won’t be easy.
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In his State of the State address last week, New Mexico Governor Bill Richardson highlighted his administration's recent efforts to earn the moniker "the Clean Energy State" through efforts such as implementation of an aggressive renewable portfolio standard, creation of the Renewable Energy Transmission Authority, and passage of a number of clean energy tax incentives he described as "the most comprehensive package” in the country, as well as further incentivizing solar energy development. He also announced plans to push forward with three major legislative initiatives intended to address climate change in the state.
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