Bloomberg reports that Bank of America (BAC) has shifted about $22 trillion worth of derivative obligations from Merrill Lynch and the BAC holding company to the FDIC insured retail deposit division. Along with this information came the revelation that the FDIC insured unit was already stuffed with $53 trillion worth of these potentially toxic obligations, making a total of $75 trillion...Please contiune reading at:
Dec 28, 2011
CRS — U.S. Trade Deficit and the Impact of Changing Oil Prices
U.S. Trade Deficit and the Impact of Changing Oil Prices (PDF) Source: Congressional Research Service (via U.S. Department of State Foreign Press Center) Petroleum prices rose sharply between September 2010 and June 2011, at times reaching more than $112 per barrel of crude oil. Although this is still below the $140 per barrel price reached [...]
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http://fulltextreports.com/2011/12/27/crs-u-s-trade-deficit-and-the-impact-of-changing-oil-prices-3/
1.6 Million Children Homeless in America « Full Text Reports…
More than 1.6 million children or one in 45 are homeless annually in America—according to a new report released today by The National Center on Family Homelessness. This represents an increase of 38% during the years impacted by the economic recession (2007 to 2010). The 124- page report, America’s Youngest Outcasts 2010, ranks the 50 states from best (1) to worst (50) and offers specific policy solutions.
The report, which updates a previous study by The National Center, looks at trends in child homeless from 2006 to 2010 using data and research on the extent of child homelessness, child well-being, risk for homelessness, and state policy and planning efforts. Data from the original report showed that more than one in 50 children were homeless annually in America. That dropped to one in 63 in the recovery from Hurricanes Rita and Katrina and has increased since.
Full Report (PDF)
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Prospects Darken For Solar Energy Companies - Slashdot
"Although global demand for solar power is still growing — about 8% more solar panels will be installed this year compared with 2010 — bankruptcies, plummeting stock prices and crushing debt loads are calling into question the viability of the solar energy industry that since the 1970s has been counted on to advance the world into a new energy age. Only a handful of manufacturers are now profitable in the face of too much capacity, which has contributed to a plunge in prices as government subsidies have been curbed. Prices for solar panels started 2011 near $1.60 per watt, but a buildup of inventory forced manufacturers into a fire sale toward the end of the second quarter that has pushed prices to near $1 per watt now. 'The prices that we're seeing today are likely not covering manufacturing costs in many cases,' says Ralph Romero. With at least seven solar-panel manufacturers filing for bankruptcy or insolvency in the last several months and six of the 10 largest publicly traded companies making solar components reporting losses in the third quarter, public-market investors are punishing the solar sector, sending shares down nearly 57% this year. Although winners are expected to emerge eventually, the question is how much more carnage there will be before that happens. 'The fact of the matter is, nobody really knows which solar companies will be pushed out of business or be forced to merge,' writes industry analyst Rodolfo Avalos. 'Nobody also knows how long it will take for the solar industry to improve even when the forecasted solar global demand for the next 5-10 years is quite promising.'"
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Michael Graetz: Energy Politics Is Lose-Lose | Epicenter | Wired.com
Four decades of energy policy gone wrong in the United States is largely explained by Congress elevating short-term political and parochial regional advantages over our nation's well-being. Although our government has enacted thousands of pages of energy legislation since the 1970s, it has never demanded that Americans pay a price that reflects the full costs of the energy they consume. This failure, alongside quite a few others, accounts for the state of affairs we face today. And guess what? Nothing has changed: The risks of climate change due to greenhouse gas emissions pose a global existential threat. But Congress fiddles while coal and other fossil fuels continue to burn...Please contiune reading at:
http://www.wired.com/epicenter/2011/12/column-energy-politics-lose/
http://www.wired.com/epicenter/2011/12/column-energy-politics-lose/
Washington’s year of drama leaves little done regarding debt - The Washington Post
“We’ve saved the American taxpayer about 17 hours of spending. That’s it,” he said. “When you just really stop and think about it, we’ve made very little progress.”
Politicians... went home for the holidays with little to show for all the political drama. The debt stood at $15.1 trillion, $1 trillion more than when he got to town. By the end of next year, projections show, it will grow by an additional $1 trillion. Ribble said he and his allies had cut spending for 2012 by only about $7 billion, a sliver so tiny Ribble could measure its impact in minutes...Please contiune reading at: http://www.washingtonpost.com/business/economy/washingtons-year-of-drama-leaves-little-done-regarding-debt/2011/12/23/gIQAB6kRLP_story.html
Apple Files Patent for Laptop Fuel Cell
Apple has filed a number of patents for fuel cells that can be inserted into portable devices, such as laptops, without adding much weight. One patent application, titled Fuel Cell System to Power a Portable Computing Device, says that due to environmental and geopolitical concerns there is an “increasing awareness and desire” for consumers....Please contiune reading at: http://www.environmentalleader.com/2011/12/27/apple-files-patent-for-laptop-fuel-cell/
Policy & Enforcement Briefing: RFS2 2012, Keystone XL, SolarWorld, Aviation Carbon Tax
The EPA finalized the Renewable Fuel Standard program (RFS2) 2012 percentage standards for four fuel categories as part of the annual renewable fuel volume targets intended to achieve an overall level of 36 billion gallons in 2022. The 2012 overall volumes and standards are: biomass-based diesel (1.0 billion gallons; 0.91 percent); advanced biofuels (2.0 billion....Please contiune reading at: http://www.environmentalleader.com/2011/12/28/policy-enforcement-briefing-rfs2-2012-keystone-xl-solarworld-aviation-carbon-tax/
Green Car Congress: Land use in the US in 2007; total cropland at lowest level since 1945, while urban land use has quadrupled
The US Department of Agriculture (USDA) Economic Research Service (ERS) recently released its Major Land Uses (MLU) study for the US for 2007. The MLU series is the only accounting of all major uses of public and private land in all 50 States.
The US land area totals nearly 2.3 billion acres. According to the report...
Cropland: Between 2002 and 2007, total cropland decreased by 34 million acres to its lowest level since this series began in 1945...
While...Urban and Rural Residential land acreage quadrupled from 1945 to 2007, increasing at about twice the rate of population growth over this period. Land in urban areas was estimated at 61 million acres in 2007, up almost 2% since 2002 and 17% since 1990 (after adjusting the 1990 estimate for the new criteria used in the 2000 Census). The Census Bureau estimates that urban area increased almost 8 million acres (13%) during the 1990s.
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Green Car Congress: Capstone Turbine seeing microturbine sales to oil and gas industry at record pace
Microturbine company Capstone Turbine’s (earlier post) sales to the oil and gas industry worldwide are at a record pace, according to Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. Over the last few weeks the company has announced deals from new and existing customers that will use the microturbines in the Marcellus and Eagle Ford Shale plays in the US, and for use in Russia.
Capstone makes various sizes of microturbines: 30kW, 65kW, and 200kW. Products based on the 200kW turbine are also available in 600kW, 800kW, and 1MW configurations. The turbines can operate on a variety of fuels: low- or high-pressure natural gas; biogas (landfill, wastewater treatment centers, anaerobic); flare gas; diesel; propane; and kerosene.
The company recently received orders totaling 4.2 MW from multiple oil & gas producers operating in the Marcellus play, including a follow-on order from a large independent producer already operating a fleet of more than 50 Capstone microturbines.
The microturbines will be installed in early 2012 and used in prime power and combined heat and power (CHP) applications. In the CHP applications, the microturbines’ exhaust heat will be used for building and onsite fuel-gas heating.
Capstone Mid-Atlantic distributor E-Finity secured the orders from new and existing customers that will use the microturbines at remote locations throughout the Marcellus Shale. E-Finity has secured orders for more than 35 microturbines within the last six months in the Marcellus Shale alone.
Please contiune reading at: http://www.greencarcongress.com/2011/12/capstone-20111228.html
Congress ends corn ethanol subsidy | The Detroit News
Ethanol policies have helped shift millions of tons of corn from the dinner table to the gas tank.... That is about to change.
Washington —The United States has ended a 30-year tax subsidy for corn-based ethanol that cost taxpayers $6 billion annually, and ended a tariff on imported Brazilian ethanol.
Congress adjourned for the year on Friday, failing to extend the tax break that's drawn a wide variety of critics on Capitol Hill, including Sens. Tom Coburn, R-Okla., and Dianne Feinstein, D-Calif. Critics also have included environmentalists, frozen food producers, ranchers and others.
The policies have helped shift millions of tons of corn from feedlots, dinner tables and other products into gas tanks.
Environmental group Friends of the Earth praised the move.
"The end of this giant subsidy for dirty corn ethanol is a win for taxpayers, the environment and people struggling to put food on their tables," biofuels policy campaigner Michal Rosenoer said Friday.
The subsidy has provided the oil and agribusiness industries with 45 cents per gallon of ethanol blended into gasoline. By some estimates, Congress has awarded $45 billion in subsidies to the ethanol industry since 1980.
Tom Buis, CEO of Growth Energy, an ethanol trade group, said earlier this month the industry would survive without the credit.
"The blenders' tax credit initially helped the ethanol industry develop. But today, we don't have a production problem, we have a market access problem," Buis said.
"Without the tax credit, the ethanol industry will survive; it will continue to reduce our dependence on foreign oil, create jobs and strengthen our economy."
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Five US States Now Get 20% Of Their Electricity From Wind Power : TreeHugger
Five US States Now Get 20% of Their Electricity From Wind Power, with Iowa and South Dakota the latest members of that club. I don't know if objectively, and in light of the needed goal of all our electricity coming from renewables, you can state that 20% of electricity from wind power is, as AWEA touts, "huge" market penetration, but it is true that its not just Europe where wind power is growing strongly.
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Oil more toxic than previously thought - latimes.com
Bad news for the Gulf of Mexico: a study released this week sheds new light on the toxicity of oil in aquatic environments, and shows that environmental impact studies currently in use may be inadequate. The report is to be published this week in the Proceedings of the National Academy of Sciences.
...This is another big jump in understanding the real damages from oil spills. Studies of the 1989 Exxon Valdez spill created an entirely new understanding of oil damage when it was found that oil was toxic in minute quantities measured in parts-per-billion and even parts-per-trillion – much lower than previously recognized. This finding of phototoxicity, however, presents a new challenge.
Phototoxicity is a phenomenon that is well known to human users of certain antibiotics, which can cause a rash if the person is exposed to direct sunlight. It has also long been associated with crude oil and creosote, which can cause a nasty redness on human skin when combined with sun exposure.
“It’s kind of a new paradigm in thinking about the toxicity of oil,” adds Cherr. “Up until now, there has been this awareness of it in the laboratory studies, but it has not been taken into account in the real world, in environmental analyses, and certainly in regulating the amounts of oil that are spilled.”...Please contiune reading at:
U.S. Cities Struggle To Staunch Sewage Overflows | National Memo | Breaking News, Smart Politics
TRAVERSE CITY, Mich. (AP) — Twice in recent summers, visitors to parts of Michigan's western coast were greeted by mounds of garbage strewn along miles of sandy beach: plastic bottles, eating utensils, food wrappers, even hypodermic syringes.
At least some of the rubbish had drifted across Lake Michigan from Milwaukee, a vivid reminder that many cities still flush nasty stuff into streams and lakes during heavy storms, fouling the waters with bacteria and viruses that can make people seriously ill.
Thousands of overflows from sewage systems that collect storm water and wastewater are believed to occur each year. Regulators and environmentalists want them stopped, and since the late 1990s the Environmental Protection Agency or state officials have reached legal agreements with more than 40 cities or counties — Atlanta, Los Angeles, Baltimore, St. Louis and Indianapolis among them — to improve wastewater systems that in some cases are a century old. Costs are reaching hundreds of millions or even billions of dollars.
But the price of progress is becoming too high for local governments, with the bad economy cutting into tax revenues and residents rebelling against higher water and sewer rates. Responding to pleas for leniency, the Obama administration is promising more flexibility as hard-pressed cities look for less conventional and cheaper ways to reduce overflows.
"The current economic times make the need for sensible and effective approaches even more pressing," said an October memo to EPA regional offices from Nancy Stoner, who runs the agency's water policy office, and Cynthia Giles, chief of enforcement. They said EPA staffers would work out details of the new policy.
It won't be easy, considering the costs and inflamed emotions involved...Please contiune reading at:
Dec 27, 2011
Pharmageddon: America’s bitter pill — RT
With over $14 billion in annual sales, antipsychotics remain the top-selling therapeutic class of prescription drugs in the US.
Dr. Harriet Fraad believes Big Pharma has manufactured a climate of insanity by manipulating and even creating illness for capital gain.
“One of the things that drives Big Pharma is to find a diagnosis that is very vague, so that everybody can fall into that,”she told RT. “Everybody is sad sometimes. There are good reasons. The point is to market pharmaceuticals. And the advertising strategy is to have vague diagnosis and then find wiggle room so that they apply to everyone.”
The US is the only Western country that allows direct-to-consumer advertising of prescription drugs. For example, an ad for Attention Deficit Hyperactivity Disorder warns that untreated patients will likely end up divorced. Another commercial promises to make you happier, but side-effects may include dry mouth, insomnia, sexual dysfunction, diarrhea, nausea and sleepiness.”...Please contiune reading at:
A new hybrid solar-powered battery for Marines in remote locales | SmartPlanet
Marines, especially infantry battalions that are far forward in the field, face a slew of logistical challenges. The most critical — and coincidentally, often the most challenging and expensive — is ensuring they have a reliable power source. The Office of Naval Research has developed and deployed a portable power device that aims to end the hassle and expense of buying foreign fuel (and delivering it to remote spots) to operate traditional diesel and gas generators.
The Ground Renewable Expeditionary ENergy Systems — or GREENS – is a portable 300-watt hybrid battery generator that uses the sun to produce electric currents. Stackable 1600-watt solar arrays and rechargeable batteries are combined to provide 300 watts of continuous electricity...Please contiune reading at:
Killing Environmentalism to Save It: Two Greens Call for ‘Postenvironmentalism’ | Scientific American
Scientific American: Environmentalism, like politics in general, is depressingly polarized these days. On one side, alarmists like the activist Bill McKibben, climatologist James Hansen and blogger Joe Romm warn that if we don`t cut way back on fossil fuels--now!--civilization may collapse. On the other side, deniers, including most of the current GOP candidates for president, won`t even accept a causal link between surging carbon emissions and warmer temperatures. (Newt Gingrich advocated countering global warming in...Please contiune reading at:
http://blogs.scientificamerican.com/cross-check/2011/12/26/killing-environmen...
http://blogs.scientificamerican.com/cross-check/2011/12/26/killing-environmen...
Tepco seeks $9 billion more for Fukushima compensation | Reuters
TOKYO (Reuters) - Tokyo Electric Power Co asked a government-backed bailout body on Tuesday for an additional 690 billion yen ($8.8 billion) to help compensate victims of the nuclear crisis at its Fukushima Daiichi power plant...Please read more from: http://www.reuters.com/article/2011/12/27/us-tepco-compensation-idUSTRE7BQ02Q...
25,000 radioactive sites in Russia - UPI.com
MOSCOW, Dec. 26 (UPI) -- There are as many as 25,000 hazardous underwater objects containing radioactive waste in Russia, emergency ministry officials said Monday...Please contiune reading at:
The One-Cent diagnostic tool, he could help save millions of lives.
Scrappy George Whitesides and Una Ryan's fast and cheap diagnostic device could save millions of lives every year Webb Chappell
How a chemist and a doctor found a much cheaper way to diagnose disease
Twenty years ago, the Pentagon asked George M. Whitesides, a chemist at Harvard University, to invent a way to quickly detect anthrax and other biohazards in the field. His solution was a handheld device that used polymers to draw samples through a complex series of very small chemical baths. If biohazards were present, the chemicals would react. The device worked, but Whitesides was more excited about its civilian potential. Nearly a billion people live without access to hospitals or any reasonably sophisticated means of diagnosing illness; if he could transform the biohazard detector into a universal diagnostic tool, he could help save millions of lives. The design was straightforward. The only problem was that the Pentagon version was too expensive. For years, he and other researchers tried shrinking parts or using cheaper components. Then, four years ago, Whitesides had another idea. What if the whole thing was made out of paper?
Using an $800 printer, he selectively patterned sheets of paper with melted wax to create assay zones, similar to the circuits on a computer chip. He then added assay reagents that changed color when exposed to certain chemicals. The paper would wick blood samples into the appropriate assay zones, where it would bind to the reagents and change color to deliver a diagnosis. Mass-produced, his stamp could cost less than a penny.
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Dec 26, 2011
Obama worried about $40 a week when families Annual fuel budget Over $4,000
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Another Green Job Opportunity Lost: "World’s Largest Li-ion Battery Plant Opened in Russia" : TreeHugger
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The Leading Cause of Breast Cancer? » Counterpunch: Tells the Facts, Names the Names
Published by the Institute of Medicine (IOM), the health arm of the National Academy of Sciences, the exhaustive analysis found that medical radiation, particularly the large radiation dose delivered by CT scans, is the foremost identifiable cause of breast cancer.[1]
Almost 230,480 new cases of breast cancer will be diagnosed this year in the United States, and about 40,000 women will die of the disease, roughly one out of every 3,875 women.
The new Institute of Medicine report probably doesn’t sit well with the industry, hospitals and clinics that make so many millions of dollars selling and over-using CT machines. The authors suggest that women avoid “unnecessary” or “inappropriate” medical radiation, a thinly veiled criticism of the industry that will give you a CT scan for a tooth ache if you don’t object to it.
Really?
High-Speed Rail Project In California Under Scrutiny | Fox News
foxnews - "It is not viable. It is not the best use of tax dollars, especially when you're borrowing the money to do it," said California Republican Rep. Kevin McCarthy, who originally supported the project as a member of the state legislature.
Since the project was first unveiled in 2008, officials tripled its projected cost, delayed its start of service 13 years, downsized ridership projections and increased ticket prices. Almost two-thirds of Californians now say they'd vote against issuing bonds to pay for a project they narrowly approved just three years ago.
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Trade Dispute Looms: EU Court Forces US Airlines to Pay for Emissions - SPIEGEL ONLINE - News - International
picture-alliance/ dpa
US airlines have suffered a defeat in the EU's highest court, which upheld a law on Wednesday that will require airlines to pay for carbon emissions on flights to and from Europe. The new rule goes into effect on Jan. 1, 2012. US officials have warned that the move will have repercussions.
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U.S. Congress Authorizes Offensive Use of Cyberwarfare - Slashdot
Slashdot- "Congress has recently authorized the use of offensive military action in cyberspace. From the December 12th conference on the National Defense Authorization Act, it states, 'Congress affirms that the Department of Defense has the capability, and upon direction by the President may conduct offensive operations in cyberspace to defend our Nation, Allies and interests, subject to: (1) the policy principles and legal regimes that the Department follows for kinetic capabilities, including the law of armed conflict; and (2) the War Powers Resolution.' According to the FAS, 'Debate continues on whether using the War Powers Resolution is effective as a means of assuring congressional participation in decisions that might get the United States involved in a significant military conflict.'"
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i-Device Manufacturing Unprofitable To China - Slashdot
"One of my favorite facts of this past year was the proof that China makes almost nothing out of assembling Apple's iPads and iPhones. From the article: 'If you want lots of jobs and lots of high paying jobs then you’re not going to find them in manufacturing. They’re where the money is, in the design, the software and the retailing of the products, not the physical making of them. Manufacturing is just so, you know, 20th century.'"
Please contiune reading at:
Power plant closings to cost jobs, taxes | Tulsa World
Associated Press: For more than 90 years, the coal-fired power plant in Glen Lyn, Va., has been churning out electricity and contributing to local prosperity. Of late, it has generated nearly a quarter of the revenue for the $1 million budget of the town. Yet when the plant shuts down to comply with new federal air pollution regulations by the end of 2014, said Town Manager Howard Spencer, so, too, might the community of 200. "If the town lost all of that revenue," he said, "we would struggle to even continue to...Please contiune reading at:
http://www.tulsaworld.com/business/article.aspx?subjectid=46&articleid=201112...
http://www.tulsaworld.com/business/article.aspx?subjectid=46&articleid=201112...
New way to assess risk from chemicals
ScienceDaily — Approximately 80,000 industrial chemicals are in use and about 700 new chemicals are introduced to commerce each year in the United States, according to the U.S. Government Accountability Office. To assess human health risks from exposure to harmful substances, James Englehardt, professor in the College of Engineering at the University of Miami, is proposing a new technique that is more efficient than current methods.
The new model reduces the data requirements 21-fold from previous models, and can predict the likelihood of illness not just from exposure to individual substances, but also from chemical mixtures. The findings are published online in advance of print, by the journal of Risk Analysis.
"The method we are proposing could be applied, for example, to drinking water containing chemical byproducts of chlorine disinfection; well water contaminated with chemicals spilled or released to the subsurface; polluted indoor or outdoor air; or food contaminated with pesticides or other chemicals," says Englehardt, principal investigator of this project.
In general, chemical contaminants do not occur individually, but rather in mixtures, and components of the mixtures can act to increase, or reduce the health effects of other mixture components, explained Englehardt.
"Previously, no generally-accepted dose-response function was known for mixtures," Englehardt says. "I therefore derived a dose-response model that theoretically can be extrapolated from high dose data to low doses of interest, for mixtures of carcinogens and non-carcinogens."
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Langford Performance Engineering modified a Ford S-Max seven seater crossover into a series hybrid plug-in vehicle with a Capstone Turbine C30. The resulting vehicle can travel up to 100MPH and achieve 80 MPG.
This all-electric drive vehicle supplements its battery capacity with a silent fuel-burning microturbine. While this runs on diesel, turbines are capable of burning practically anything, meaning if cheap renewable methane natural gas proliferates, one could fuel a vehicle from home using the existing gasline infrastructure; and if it's feasible, one could even generate electricity at home when the vehicle is not in use--as means of supplementing the grid for a return on household electrical costs or DER. Combine this all with flow battery technology for renewable grid storage in a "cloud" situation, and let an onboard computer (AutoBUG, perhaps) determine whether it's more economic to burn gas for the grid or to simply store energy. This would make a great energy independence starter kit, requiring no new infrastructure for anyone to participate.
Watch at:
Solar power gets gassy with HyperSolar’s photochemical natural gas technology : Clean Energy Authority
HyperSolar is developing a solar-powered nanoparticle system that mimics photosynthesis to separate hydrogen from water. The hydrogen is then reacted with carbon dioxide to produce the methane, which is the primary component of natural gas. Hypersolar said that the resulting methane gas can be used as a direct replacement within existing systems that use natural gas. Tim Young, CEO of Hypersolar adds; “For almost a century, scientists have tried and failed to ‘split water’ cost effectively to produce hydrogen and oxygen. Our process does not produce oxygen (O2), which has no significant value and is an expensive and slow reaction. Unlike conventional electrolysis, where hydrogen and oxygen atoms are completely disassociated using a large voltage, we designed our reactions to use a very small voltage and only produce hydrogen (H2).” Please read more from: http://www.cleanenergyauthority.com/solar-energy-news/hypersolar-photochemica...
Dec 25, 2011
NYTimes Takes on “The Big Lie”
I am please to report that calling out the Big Lie has now gone fully mainstream.
Recall last month, I had two Big Lie columns in the Washington Post:
• What caused the financial crisis? The Big Lie goes viral.
• Examining the big lie: How the facts of the economic crisis stack up
The first column was the most popular article on WashingtonPost.com for a full week. It generated nearly 1845 comments.
Since then, both Bloomberg.com and Reuters each have picked up the Big Lie theme. (Columbia Journalism Review as well). In today’s NYT, Joe Nocera does too, once again calling out those who are pushing the false narrative for political or ideological reasons in a column simply called “The Big Lie“.
...I summarized these into 7 broad categories. The incomparable Jess Bachman (of Wall Stats) created this fantastic graphic that is the centerfold of the book:>
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A farm lives high and clean off the hog.
Duke University helped a North Carolina farm turn tons of manure into electricity and fertilizer in what it says is one of the the cleanest waste-to-energy systems in existence. The farmer saves money and gets a cleaner farm. Duke and Google, which helped fund the project, get carbon offsets.
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Evidence mounts for endocrine effects of a compound used in many antibacterial bar soaps.
New results from a study of an antimicrobial- triclocarban - widely used in many consumer products reveal that the compound strongly enhances the effect of estrogen on a gene that is active in the brains of developing zebrafish embryos.
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Merry Christmas!
Happy holidays to my Christian, Jewish, Muslim, Buddhist, Hindu, atheist, agnostic, native ... and all other readers. Peace be with you.
Cartoon from one of my favorite Gary Varvels'
http://blogs.indystar.com/varvelblog/
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