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In a Yardeni Research blog post highlighted by an article in the New York Times, economist Ed Yardeni argued that rising oil prices “may actually be good for the best stocks and shares ISA market, up to a point.” This is due, in part, to energy sector companies like Chevron and Exxon making up more than 12% of the S&P 500’s market capitalization. Yardeni notes that since late 2008 there has been “a strong positive correlation between energy prices and the stock market.” If prices continue to rise, however, the odds of that positive effect lasting diminishes. “At some point,”… [more]
View InsightFuel Freedom is a non-partisan campaign dedicated to breaking our oil addiction by removing barriers to competition to promote the development of cheaper, cleaner, American-made fuels. Fuel Freedom means that gasoline, diesel, methanol, natural gas, ethanol and electricity compete on equal footing both at the dealership and at the pump. Achieving Fuel Freedom will lower fuel prices, create jobs, spur economic growth, reduce pollution, improve national and global security, and eliminate the need to send our sons and daughters to faraway lands to ensure the free flow of oil.
View InsightSenate Energy & Natural Resources Chairman Jeff Bingaman (D-NM) has introduced the Clean Energy Standard Act of 2012, which would require electric utilities to derive increasing percentages of their supply mix from low-CO2 sources. The bill would take effect in 2015, and would require that by 2035 84% of power from large utilities come from low-CO2 sources. Sources eligible under the legislation include: renewables, such as wind and solar, “qualified” renewable biomass and waste-to-energy, hydropower, natural gas, and nuclear. Facilities with CO2 capture and storage, and some combined heat and power facilities, are also eligible. The bill establishes a market-based… [more]
View InsightIn an opinion piece in the New York Times, writer David Ropeik argues that the nature of how humans perceive risk has led to some impractical, and potentially counterproductive, energy and environmental policies. According to research cited by Ropeik, the following factors make people more likely to perceive higher levels of risk: “Human-made risks upset us more than risks which are natural; Risks imposed on us are scarier than those we take by choice; Risks grow scarier the greater the pain and suffering they cause.” These perception factors percolate into our energy and environmental policy, Ropeik argues, sometimes leading to… [more]
View InsightAs reported by the New York Times, Envia Systems, a California-based battery manufacturing company, announced yesterday what it calls a “major breakthrough” in battery technology that is “poised to revolutionize cost, range and safety in electric vehicles.” According to Envia’s press release, the breakthrough is a world record 400 Watt hour/kg lithium-ion battery, at a cost of $150 per kilowatt-hour, which is expected to “slash the price of a 300-mile range electric vehicle by cutting the cost of the battery pack by more than 50 percent.” Envia was awarded $4 million by DOE’s ARPA-E in 2009, and later received $7… [more]
View InsightAddressing high gasoline prices at a February 23 speech in Miami, President Obama made a case for continued investment in fuel economy and alternative fuel sources like algal biofuels and natural gas. The U.S. cannot drill its way out of high gas prices, he said, adding that anybody who says otherwise “doesn’t know what they’re talking about or just isn’t telling you the truth.” [Fox News] “It’s the easiest thing in the world to make phony election-year promises about lower gas prices,” Obama said. “What’s harder is to make a serious, sustained commitment to tackle a problem that may not… [more]
View InsightOn February 28th and 29th a federal appeals court in Washington, DC will hear oral arguments in Coalition for Responsible Regulation v. EPA, an aggregation of lawsuits challenging U.S. EPA’s authority to regulate climate change pollutants. The suits have been brought by industry and free-market groups seeking to overturn EPA’s greenhouse gas endangerment finding, clean car standards crafted under the Clean Air Act, and efforts to reduce industrial emissions. EPA’s endangerment finding for climate change pollutants, required by the Supreme Court case Massachusetts v. EPA, established that “greenhouse gases … in the atmosphere threaten the public health and welfare of… [more]
View Insight“Jobs, the Energy Sector, and Government” February 16th, 2012 Capitol Hill, Washington, DC Opening Remarks: WILLIAM SQUADRON, President, OurEnergyPolicy.org Speakers: KENNETH P. GREEN, Resident Scholar, American Enterprise Institute JIGAR SHAH, CEO, Carbon War Room ROBERT H. TOPEL, Professor, Urban and Labor Economics, Booth School of Business, University of Chicago YOSSIE HOLLANDER (moderator), Founder and Chairman, OurEnergyPolicy.org MR. SQUADRON: Thank you all for coming. There’s still a few people outside coming in, in a little bit of a line, but we should get started, because I know all of you have busy schedules, and we appreciate your taking the… [more]
View InsightU.S. and Mexican negotiators on February 20th reached a deal – called The Transboundary Agreement – that would regulate oil and gas development along the countries’ maritime border in the Gulf of Mexico. The Agreement would allow each country to oversee the environmental and safety protocols of the other, and could by June open 1.5 million acres of U.S. offshore territory for oil and gas development. The U.S. Interior Department estimates that the area in question “contains as much as 172 million barrels of oil and 300 billion cubic feet of natural gas, relatively modest amounts by the oil-rich gulf’s… [more]
View InsightPresident Obama sent his requested FY2013 budget to Congress Monday, and requested, among other energy-related items, significant increases to energy R&D, renewable energy investments, and energy efficiency programs. From the request: “In light of the tight discretionary spending caps, this increase in funding is significant and a testament to the importance of innovation and clean energy to the country’s economic future.” Among the energy-related budget requests: $27.2 billion to the Department of Energy, a 3.2% hike over FY2012 $5 billion for DOE’s Office of Science $2.3 billion for DOE’s Energy Efficiency and Renewable Energy office – a 29% increase –… [more]
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