/PRNewswir/ -- Fifty independent energy industry representatives joined U.S. Senator John Cornyn (TX) and former Congressman John Peterson at a Capitol Hill press conference to urge the Obama Administration and Members of Congress to lift the moratorium on energy exploration in the Gulf of Mexico and resist efforts to raise taxes on U.S. energy companies. The event, which took place this morning, was organized by Save U.S. Energy Jobs, a project of the American Energy Alliance.
"My job matters," Thomas Clements a small business owner from Broussard, Louisiana, said. "So I've come to Washington to find somebody to hear me, to see my hopelessness, my no-man's-land that I'm in because of these proposed tax changes to the energy industry and the moratorium. I hope that Congress listens to us and protects American jobs."
Thomas and his wife, Melissa, are co-owners of Oilfield CNC Machining. They opened their business at the end of 2008 with a focus on producing quality metal parts for oilfield equipment used on offshore drilling rigs. With a year under their belts, the Clements were hoping that 2010 would be a breakout year for their new company. They were looking to hire more workers and expand their facility workspace. Although the oil spill in April 2010 and the initial 30-day moratorium put a damper on things, they weren't going to let that keep them down. But when the six month moratorium was issued their business came to a complete halt. Every order was cancelled. Now they are worried that taxes on American energy companies could harm the entire U.S. energy industry.
The Clements are just one tragic story.
Today more than fifty Gulf area residents came to Washington to share their perspectives. They're here to tell their representatives, "My Job Matters" and to ask their elected officials to lift the moratorium on energy exploration in the Gulf of Mexico and to not support changes to the tax code that would unfairly harm American energy companies.
According to a recent study released by Louisiana State University professor Dr. Joseph Mason, the six month moratorium will cost the Gulf region more than 8,000 jobs and more than $2.1 billion in economic activity. And if the moratorium is extended - the consequences could be much, much worse.
In addition to the current moratorium, President Obama and Members of Congress have not ruled out extending the moratorium and have also suggested repealing two provisions of the tax code that would raise taxes on U.S. based energy companies. One of these taxes would amount to a double taxation on American energy companies, hurting U.S. companies and acting as a de-facto bailout to foreign owned ones. Policymakers are also considering raising the cap on liabilities for energy companies - making their work unsustainable. Any of these new laws would do irreparable harm to American energy companies, raise the price of energy for consumers, weaken our nation's energy security, and kill U.S. jobs.
"In an economy like this, the President and Congress should be looking for ways to strengthen U.S. businesses, not weaken them," Thomas J. Pyle, president of the American Energy Alliance, said. "I'm proud that these hardworking small business owners are fighting for American energy jobs."
Following the press conference, the Gulf Coast residents fanned out across Capitol Hill to meet with their representatives in Congress and staffs.
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Showing posts with label barack obama. Show all posts
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Wednesday, August 4, 2010
Wednesday, January 27, 2010
Teetering Biodiesel Industry Awaits President Obama's Remarks on Job Creation in His State of the Union Address
/PRNewswire/ -- Tonight, President Barack Obama is scheduled to deliver his first State of the Union Address. Though the President is widely expected to highlight a host of new initiatives to create new "green collar" jobs in the speech, the failure of Congress to extend the existing biodiesel tax incentive has placed 23,000 existing jobs that are supported by the domestic biodiesel industry at risk.
Manning Feraci, the National Biodiesel Board's Vice President of Federal Affairs noted, "If Congress and the Administration are serious about creating green jobs, the first immediate step they should take is to extend the biodiesel tax incentive as soon as possible. Expiration of the biodiesel tax incentive on December 31, 2009 has devastated the industry, severely curtailed domestic biodiesel production, and placed 23,000 good-paying jobs in immediate jeopardy. Biodiesel companies have already started shedding employees, and this will continue at an accelerated pace unless Congress and the President act swiftly to reinstate this effective tax incentive."
Biodiesel is a diesel replacement fuel made from agricultural oils, fats and waste greases that meets a specific commercial fuel definition and specification. The fuel significantly reduces harmful emissions including greenhouse gas emissions compared to petroleum diesel fuel. The biodiesel tax incentive is structured in a manner that makes the fuel price competitive with diesel fuel in the marketplace. Thus, absent the tax incentive, biodiesel is significantly more expensive that petroleum diesel fuel. On December 31, 2009, Congress adjourned and allowed the biodiesel tax incentive to expire.
"If Congress and the Administration truly want to protect and promote green job creation, they should act immediately to extend the biodiesel tax incentive," concluded Feraci.
The National Biodiesel Board is the national trade association of the biodiesel industry and is the coordinating body for biodiesel research and development in the U.S. NBB's membership is comprised of state, national, and international feedstock and feedstock processor organizations, biodiesel producers, fuel marketers and distributors, and technology providers.
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Manning Feraci, the National Biodiesel Board's Vice President of Federal Affairs noted, "If Congress and the Administration are serious about creating green jobs, the first immediate step they should take is to extend the biodiesel tax incentive as soon as possible. Expiration of the biodiesel tax incentive on December 31, 2009 has devastated the industry, severely curtailed domestic biodiesel production, and placed 23,000 good-paying jobs in immediate jeopardy. Biodiesel companies have already started shedding employees, and this will continue at an accelerated pace unless Congress and the President act swiftly to reinstate this effective tax incentive."
Biodiesel is a diesel replacement fuel made from agricultural oils, fats and waste greases that meets a specific commercial fuel definition and specification. The fuel significantly reduces harmful emissions including greenhouse gas emissions compared to petroleum diesel fuel. The biodiesel tax incentive is structured in a manner that makes the fuel price competitive with diesel fuel in the marketplace. Thus, absent the tax incentive, biodiesel is significantly more expensive that petroleum diesel fuel. On December 31, 2009, Congress adjourned and allowed the biodiesel tax incentive to expire.
"If Congress and the Administration truly want to protect and promote green job creation, they should act immediately to extend the biodiesel tax incentive," concluded Feraci.
The National Biodiesel Board is the national trade association of the biodiesel industry and is the coordinating body for biodiesel research and development in the U.S. NBB's membership is comprised of state, national, and international feedstock and feedstock processor organizations, biodiesel producers, fuel marketers and distributors, and technology providers.
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Monday, May 4, 2009
Energy Independence Not Attainable Until 2030 or Beyond, Says KPMG Survey of Oil and Gas Executives
/PRNewswire/ -- More than three-quarters of oil and gas executives surveyed by KPMG LLP's Global Energy Institute say that energy independence is not attainable until 2030 or beyond, despite the emphasis on alternative energy sources in current and proposed government energy policies. The executives also said mass production of alternative energy is not viable in the short term. While there is a marked shift upward in the number of executives who acknowledge that global warming is occurring, the vast majority still don't support proposed regulations to stem CO2 emissions.
The KPMG Global Energy Institute survey polled 382 financial executives from oil and gas companies in April 2009. A total of 63 percent of respondents believe energy independence will not be attainable until after 2030; sixteen percent say it can happen by 2030, while nine percent deem it possible before 2020.
"Despite the increased focus on domestic energy sources, energy infrastructure, and alternative energy sources, a realistic assessment of technology and investment in the industry suggests energy independence is not realistic for at least two decades," said Bill Kimble, executive director of the KPMG Global Energy Institute. "The executives' perceptions of energy independence mirror their views on the viability of alternatives in the near-term as well."
Executives expect alternative and renewable energy sources to receive the most focus in President Obama's energy policy, the KPMG survey found. However, 52 percent said it will not be viable to mass produce any alternative energy sources by 2015, compared to 54 percent last year and 60 percent two years ago.
Winners and Losers in the New Energy Policy
Although executives did not think alternative energy sources were immediately viable, they did have clear opinions on which ones would benefit most from the Obama administration's energy policy. Thirty-five percent of respondents said that wind energy would be the biggest winner as a result of Obama's policy, followed by 18 percent for natural gas and 17 percent for biofuels. Conversely, 42 percent of executives see coal as the biggest loser while 36 percent say oil.
"These results clearly show the momentum wind energy has gained as a clean energy solution," said Kimble. "But 93 percent of our respondents see wind generation growing to only six percent of our energy generation by 2015 and only 17 percent say wind energy is viable for mass production by that year."
Marked Shift: More than Half Now Acknowledge Human Impact on Global Warming
When asked which areas in the Obama administration's energy policy would receive the most focus after alternative energy, executives cited greenhouse gas emissions and cap-and-trade. And, though the EPA recently pointed to CO2 emissions from burning fossil fuels as the main cause of global warming, nearly half (47 percent) of executives still believe that global warming, is a natural weather cycle, although this number is down from 62 percent in 2008.
"Our data shows a noted swing in executive perceptions on the issue of greenhouse gases and global warming," said Kimble, "but there is clear reluctance to support proposed actions and regulations to stem CO2 emissions."
In fact, when asked if they would support a cap-and-trade or carbon tax to reduce CO2 emissions, KPMG found that 59 percent do not support either, 23 percent would support carbon tax, and 18 percent would support a cap-and-trade system.
Spending and Business Challenges
When asked about capital spending and key business challenges in the coming year, KPMG found that executives have a subdued view. Sixty-five percent of those surveyed expect their company to decrease capital spending, including 47 percent who predict a drop of greater than 10 percent. Only 17 percent expect an increase over 2008 levels. These views are in stark contrast to those from KPMG's 2008 survey, when 70 percent expected an increase in capital spending and only five percent saw a decrease.
While oil prices have stabilized after extreme volatility in 2008, KPMG found that executives still rank commodity pricing the most significant challenge facing their companies in the coming year. Other key business challenges in order of significance include the economy, access to capital and regulatory concerns.
Also, 63 percent believe eliminating intangible drilling costs (IDC) will result in companies drilling outside the U.S. and unconventional wells not being drilled, a factor that may further slow the race toward energy independence
"There is no question that the economy has had an impact on U.S. energy companies, both in terms of pricing and capital," said Kimble. "However, with the current regulatory and legislative environment, oil and gas executives are also faced with the challenges of an evolving and dynamic industry pushing toward non-traditional energy sources."
KPMG will be discussing these survey results during its Seventh Annual Global Energy Conference, the event for financial executives in the energy industry on May 12th and 13th at the Intercontinental Hotel in Houston. This year's keynote speakers will be Madeleine Albright, Former United States Secretary of State, and Marvin Odum, President, Shell Oil Company.
The KPMG Global Energy Institute (GEI) has been designed to provide an open forum where industry financial officers, risk officers, internal audit directors, and tax executives can share knowledge, gain insights, and access thought leadership about key oil and gas or power and utilities issues and emerging trends. It offers ideas and innovative tools that help organizations apply rigor to compelling, real-world business and energy issues. GEI interacts with their members through a variety of channels, including Web-based videocasts, podcasts, conferences, share forums, and a web portal, www.kpmgglobalenergyinstitute.com.
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The KPMG Global Energy Institute survey polled 382 financial executives from oil and gas companies in April 2009. A total of 63 percent of respondents believe energy independence will not be attainable until after 2030; sixteen percent say it can happen by 2030, while nine percent deem it possible before 2020.
"Despite the increased focus on domestic energy sources, energy infrastructure, and alternative energy sources, a realistic assessment of technology and investment in the industry suggests energy independence is not realistic for at least two decades," said Bill Kimble, executive director of the KPMG Global Energy Institute. "The executives' perceptions of energy independence mirror their views on the viability of alternatives in the near-term as well."
Executives expect alternative and renewable energy sources to receive the most focus in President Obama's energy policy, the KPMG survey found. However, 52 percent said it will not be viable to mass produce any alternative energy sources by 2015, compared to 54 percent last year and 60 percent two years ago.
Winners and Losers in the New Energy Policy
Although executives did not think alternative energy sources were immediately viable, they did have clear opinions on which ones would benefit most from the Obama administration's energy policy. Thirty-five percent of respondents said that wind energy would be the biggest winner as a result of Obama's policy, followed by 18 percent for natural gas and 17 percent for biofuels. Conversely, 42 percent of executives see coal as the biggest loser while 36 percent say oil.
"These results clearly show the momentum wind energy has gained as a clean energy solution," said Kimble. "But 93 percent of our respondents see wind generation growing to only six percent of our energy generation by 2015 and only 17 percent say wind energy is viable for mass production by that year."
Marked Shift: More than Half Now Acknowledge Human Impact on Global Warming
When asked which areas in the Obama administration's energy policy would receive the most focus after alternative energy, executives cited greenhouse gas emissions and cap-and-trade. And, though the EPA recently pointed to CO2 emissions from burning fossil fuels as the main cause of global warming, nearly half (47 percent) of executives still believe that global warming, is a natural weather cycle, although this number is down from 62 percent in 2008.
"Our data shows a noted swing in executive perceptions on the issue of greenhouse gases and global warming," said Kimble, "but there is clear reluctance to support proposed actions and regulations to stem CO2 emissions."
In fact, when asked if they would support a cap-and-trade or carbon tax to reduce CO2 emissions, KPMG found that 59 percent do not support either, 23 percent would support carbon tax, and 18 percent would support a cap-and-trade system.
Spending and Business Challenges
When asked about capital spending and key business challenges in the coming year, KPMG found that executives have a subdued view. Sixty-five percent of those surveyed expect their company to decrease capital spending, including 47 percent who predict a drop of greater than 10 percent. Only 17 percent expect an increase over 2008 levels. These views are in stark contrast to those from KPMG's 2008 survey, when 70 percent expected an increase in capital spending and only five percent saw a decrease.
While oil prices have stabilized after extreme volatility in 2008, KPMG found that executives still rank commodity pricing the most significant challenge facing their companies in the coming year. Other key business challenges in order of significance include the economy, access to capital and regulatory concerns.
Also, 63 percent believe eliminating intangible drilling costs (IDC) will result in companies drilling outside the U.S. and unconventional wells not being drilled, a factor that may further slow the race toward energy independence
"There is no question that the economy has had an impact on U.S. energy companies, both in terms of pricing and capital," said Kimble. "However, with the current regulatory and legislative environment, oil and gas executives are also faced with the challenges of an evolving and dynamic industry pushing toward non-traditional energy sources."
KPMG will be discussing these survey results during its Seventh Annual Global Energy Conference, the event for financial executives in the energy industry on May 12th and 13th at the Intercontinental Hotel in Houston. This year's keynote speakers will be Madeleine Albright, Former United States Secretary of State, and Marvin Odum, President, Shell Oil Company.
The KPMG Global Energy Institute (GEI) has been designed to provide an open forum where industry financial officers, risk officers, internal audit directors, and tax executives can share knowledge, gain insights, and access thought leadership about key oil and gas or power and utilities issues and emerging trends. It offers ideas and innovative tools that help organizations apply rigor to compelling, real-world business and energy issues. GEI interacts with their members through a variety of channels, including Web-based videocasts, podcasts, conferences, share forums, and a web portal, www.kpmgglobalenergyinstitute.com.
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Thursday, January 15, 2009
Obama Stimulus Package to Include $25 Billion for Renewable Energy
/PRNewswire/ -- Congressional leaders together with Barack Obama's new Cabinet are planning a $25 Billion stimulus package in order to meet the President-elect's goal of doubling renewable energy production in the next three years, according to a report in Sunday's Washington Post.
President-elect Obama's Cabinet favors an $8.6 billion extension of the Federal Production Tax Credit, a program that speeds-up the building of new wind power generation projects. In addition, a bi-partisan initiative first backed by Rep. Chris Van Hollen (D-MD) and Rep. Zach Wamp (R-TN) for a National Clean Energy Lending Authority, is likely to be approved by the Obama team. The new agency could receive as much as $10 billion to extend low-interest loans, grants or guarantees to wind, solar and other renewable energy projects.
In the wind sector, most turbine manufacturers are foreign owned and not likely to qualify for stimulus dollars. Analysts expect U.S. based wind power project builders, to be big winners. New Jersey's NRG Energy (NYSE:NRG) which just completed its second wind project in the Texas Panhandle, has received a buy recommendation from UBS. Another wind power company with two projects underway in the Texas Panhandle is Denver based Nacel Energy (OTC Bulletin Board: NCEN). CNBC guest analyst Francis Gaskins has a $4 price target on the company. Nacel Energy closed yesterday at $1.15.
There are even more U.S. companies to like in the solar sector. Analysts at Stanford Capital have issued a buy on Evergreen Solar (NASDAQ:ESLR) with a $3.70 target. Evergreen is based in Marlboro, MA, and is a leading manufacturer of integrated solar modules. Needham and Co. has a buy on New Mexico's Emcore (NASDAQ:EMKR) and a $2 price target. Both Emcore's semiconductors and Evergreen's solar modules expected to benefit from increasing demand as the Obama stimulus plan is implemented over the coming months.
A Before the Bell(TM) renewable energy update.
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President-elect Obama's Cabinet favors an $8.6 billion extension of the Federal Production Tax Credit, a program that speeds-up the building of new wind power generation projects. In addition, a bi-partisan initiative first backed by Rep. Chris Van Hollen (D-MD) and Rep. Zach Wamp (R-TN) for a National Clean Energy Lending Authority, is likely to be approved by the Obama team. The new agency could receive as much as $10 billion to extend low-interest loans, grants or guarantees to wind, solar and other renewable energy projects.
In the wind sector, most turbine manufacturers are foreign owned and not likely to qualify for stimulus dollars. Analysts expect U.S. based wind power project builders, to be big winners. New Jersey's NRG Energy (NYSE:NRG) which just completed its second wind project in the Texas Panhandle, has received a buy recommendation from UBS. Another wind power company with two projects underway in the Texas Panhandle is Denver based Nacel Energy (OTC Bulletin Board: NCEN). CNBC guest analyst Francis Gaskins has a $4 price target on the company. Nacel Energy closed yesterday at $1.15.
There are even more U.S. companies to like in the solar sector. Analysts at Stanford Capital have issued a buy on Evergreen Solar (NASDAQ:ESLR) with a $3.70 target. Evergreen is based in Marlboro, MA, and is a leading manufacturer of integrated solar modules. Needham and Co. has a buy on New Mexico's Emcore (NASDAQ:EMKR) and a $2 price target. Both Emcore's semiconductors and Evergreen's solar modules expected to benefit from increasing demand as the Obama stimulus plan is implemented over the coming months.
A Before the Bell(TM) renewable energy update.
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Friday, January 9, 2009
Obama Inauguration to Highlight Dramatic 'Green Energy' Agenda
/PRNewswire/ -- President-Elect Barack Obama will take office January 20th with the strongest commitment to renewable energy of any President in history. Obama's widely anticipated inauguration speech is expected to highlight bold new national policies to speed America's transition to a renewable energy economy.
-- Construction of a high-voltage "interstate highway" system to bring more wind and solar energy to America's major cities.
-- A national policy mandating America's electric utilities to buy a percentage of their electricity from renewable sources like solar and wind - the most readily available, abundant and affordable sources of green energy.
-- Aggressive near-term targets to reduce America's dependence upon imported oil to address both global warming and national security.
Wind and solar energy companies, already coming off a year of record growth in 2008, are expected to gain new momentum through the inauguration and first 100 days as the new Obama administration implements its green agenda.
Growth and investment in the solar industry is focused on manufacturers of photovoltaic (PV) laminate - which convert sunlight to renewable energy. Analysts at Lazard Capital Markets confirmed buy ratings on leading PV suppliers Energy Conversion Devices (NASDAQ:ENER) and First Solar (NASDAQ:FSLR) .
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-- Construction of a high-voltage "interstate highway" system to bring more wind and solar energy to America's major cities.
-- A national policy mandating America's electric utilities to buy a percentage of their electricity from renewable sources like solar and wind - the most readily available, abundant and affordable sources of green energy.
-- Aggressive near-term targets to reduce America's dependence upon imported oil to address both global warming and national security.
Wind and solar energy companies, already coming off a year of record growth in 2008, are expected to gain new momentum through the inauguration and first 100 days as the new Obama administration implements its green agenda.
Growth and investment in the solar industry is focused on manufacturers of photovoltaic (PV) laminate - which convert sunlight to renewable energy. Analysts at Lazard Capital Markets confirmed buy ratings on leading PV suppliers Energy Conversion Devices (NASDAQ:ENER) and First Solar (NASDAQ:FSLR) .
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Monday, December 22, 2008
Grassroots to Hold Obama to Clean Energy Promises: 67 Groups in 28 States Urge President-Elect to Act Now
/PRNewswire-USNewswire/ -- Barack Obama campaigned on the need to create a clean-energy economy in the United States. Today, 67 grassroots organizations in 28 states sent a letter to the President-Elect to let him know that they intend to support the goal of clean energy, underscoring that this does not include taxpayer investment of so-called "clean coal" technology or unsafe nuclear power.
The joint letter organized by theCLEAN.org (http://www.theclean.org/) and the Civil Society Institute outlined 10 needed steps for short-term economic stimulus/job creation and additional movement to a clean-energy economy. The nonprofit and nonpartisan Civil Society Institute think tank is an action-oriented research and community organizing center based in Massachusetts. CSI is a convener of a collaboration of grassroots organizations around the U.S. that are organized as TheClean.org.
The joint letter states: "We write to support your stated goals to invest in clean energy and to lead the country toward a new energy economy that will address global warming, stimulate near- and long-term economic prosperity and help ensure our national security. As you made clear in your Presidential campaign, and in statements since, a strong economy for the United States is dependent on energy efficiency, investment in clean, renewable energy technologies, investment in new energy infrastructure, and training of our workforce to transit from old energy technologies to new technologies. The benefits to the United States are clear. For every $1 million spent on clean energy 18 jobs will be created as opposed to the 7.5 jobs created per million dollars on old energy technologies ..."
The 10 steps outlined by the 67 grassroots organizations are as follows:
-- Direct the Department of Energy to build a robust EHV transmission system to provide capacity to transfer power (including wind) from one region in the United States to another;
-- Support $45 billion in immediate direct government spending for public building retrofits, expansion of mass transit, freight rail and smart grid systems;
-- Encourage homeowner use of renewable energy technologies by enacting a tax credit of $7500 for the installation and/or use of energy efficiency saving devices such as solar heating, windmills and PV to generate electricity;
-- Support $500 billion in investment in renewable energy over a 10-year period, including transiting to a new digital electricity grid;
-- Support the enactment of a renewable electricity standard of 30% by 2020, 50% by 2030, and 100% by 2050;
-- Support the extension of the production tax credit for wind projects for 10 years;
-- Support an economy-wide cap and trade program to reduce greenhouse gas emissions to 80% below 1990 levels by 2050 and auction carbon allowances to finance a transition to a clean energy economy, making the funds available for investment and infrastructure costs;
-- Support the enactment of domestic incentives that reward forest owners, farmers, and ranchers when they plant trees, restore grasslands or undertake farming practices that capture carbon dioxide from the atmosphere;
-- Support tax credits for cars using hybrid and clean diesel technologies graded on miles per gallon efficiencies. $1500 and $3000 tax credits respectively established for cars obtaining 30 and 40 miles per gallon; and
-- Enact a moratorium on building nuclear power plants and coal fired plants in order to transit to a clean, energy efficient economy while at the same time phase in renewable and energy efficiency technologies that eliminate fossil fuel usage and nuclear power by 2050.
Civil Society Institute President and Founder Pam Solo said: "We see the agenda outlined in our letter as relevant to both short-term policies that should be part of an economic stimulus that can also build toward a new, clean energy economy. CLEAN is determined to advance the public education and involvement on these issues from the grassroots up! It is our firm conviction that it will take a concerted and coordinated grassroots mobilization to realize the serious changes being proposed by the President. While there are numerous national groups weighing in on the policy direction of the Obama Administration, very few look at what is possible from outside the Beltway. In this letter, we offer our support for the needed bold steps and the assurance of the kind of grassroots pressure that will make it possible for these steps to become the policy of the nation."
Solo noted that The Civil Society Institute has sponsored pioneering work on how near-term transitional steps for moving the U.S. toward a new energy economy. These 11 related reports can be found at http://www.civilsocietyinstitute.org/csiresearch.cfm. In May 2008, CSI sponsored a report by ACEEE on the economic/job-creation benefits of energy efficiency titled "The Size of the U.S. Energy Efficiency Market: Generating a More Complete Picture" (#E083).
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The joint letter organized by theCLEAN.org (http://www.theclean.org/) and the Civil Society Institute outlined 10 needed steps for short-term economic stimulus/job creation and additional movement to a clean-energy economy. The nonprofit and nonpartisan Civil Society Institute think tank is an action-oriented research and community organizing center based in Massachusetts. CSI is a convener of a collaboration of grassroots organizations around the U.S. that are organized as TheClean.org.
The joint letter states: "We write to support your stated goals to invest in clean energy and to lead the country toward a new energy economy that will address global warming, stimulate near- and long-term economic prosperity and help ensure our national security. As you made clear in your Presidential campaign, and in statements since, a strong economy for the United States is dependent on energy efficiency, investment in clean, renewable energy technologies, investment in new energy infrastructure, and training of our workforce to transit from old energy technologies to new technologies. The benefits to the United States are clear. For every $1 million spent on clean energy 18 jobs will be created as opposed to the 7.5 jobs created per million dollars on old energy technologies ..."
The 10 steps outlined by the 67 grassroots organizations are as follows:
-- Direct the Department of Energy to build a robust EHV transmission system to provide capacity to transfer power (including wind) from one region in the United States to another;
-- Support $45 billion in immediate direct government spending for public building retrofits, expansion of mass transit, freight rail and smart grid systems;
-- Encourage homeowner use of renewable energy technologies by enacting a tax credit of $7500 for the installation and/or use of energy efficiency saving devices such as solar heating, windmills and PV to generate electricity;
-- Support $500 billion in investment in renewable energy over a 10-year period, including transiting to a new digital electricity grid;
-- Support the enactment of a renewable electricity standard of 30% by 2020, 50% by 2030, and 100% by 2050;
-- Support the extension of the production tax credit for wind projects for 10 years;
-- Support an economy-wide cap and trade program to reduce greenhouse gas emissions to 80% below 1990 levels by 2050 and auction carbon allowances to finance a transition to a clean energy economy, making the funds available for investment and infrastructure costs;
-- Support the enactment of domestic incentives that reward forest owners, farmers, and ranchers when they plant trees, restore grasslands or undertake farming practices that capture carbon dioxide from the atmosphere;
-- Support tax credits for cars using hybrid and clean diesel technologies graded on miles per gallon efficiencies. $1500 and $3000 tax credits respectively established for cars obtaining 30 and 40 miles per gallon; and
-- Enact a moratorium on building nuclear power plants and coal fired plants in order to transit to a clean, energy efficient economy while at the same time phase in renewable and energy efficiency technologies that eliminate fossil fuel usage and nuclear power by 2050.
Civil Society Institute President and Founder Pam Solo said: "We see the agenda outlined in our letter as relevant to both short-term policies that should be part of an economic stimulus that can also build toward a new, clean energy economy. CLEAN is determined to advance the public education and involvement on these issues from the grassroots up! It is our firm conviction that it will take a concerted and coordinated grassroots mobilization to realize the serious changes being proposed by the President. While there are numerous national groups weighing in on the policy direction of the Obama Administration, very few look at what is possible from outside the Beltway. In this letter, we offer our support for the needed bold steps and the assurance of the kind of grassroots pressure that will make it possible for these steps to become the policy of the nation."
Solo noted that The Civil Society Institute has sponsored pioneering work on how near-term transitional steps for moving the U.S. toward a new energy economy. These 11 related reports can be found at http://www.civilsocietyinstitute.org/csiresearch.cfm. In May 2008, CSI sponsored a report by ACEEE on the economic/job-creation benefits of energy efficiency titled "The Size of the U.S. Energy Efficiency Market: Generating a More Complete Picture" (#E083).
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Friday, December 19, 2008
Energy, Environmental Groups Urge Quick Action by Congress to Use Energy Efficiency Programs to Stimulate Economy, Create Green Jobs
/PRNewswire-USNewswire/ -- As a new administration transitions into the White House and Congress gears up to move an economic recovery package early next year, energy and environmental groups today issued a set of recommendations to boost the nation's energy efficiency, create green jobs, and save energy and money. The groups urged Congress to incorporate many of the proposals into legislation to be considered in early 2009.
The Alliance to Save Energy, Edison Electric Institute, Energy Future Coalition and the Natural Resources Defense Council released proposals ranging from low-income home weatherization and energy efficiency retrofits for homes and commercial and government buildings, to strengthened national model building energy codes, enhanced product efficiency standards and energy efficiency investments by utilities. In addition to federal funds for job-creating efficiency programs, the groups asked Congress to fund the authorized Energy Efficiency and Conservation Block Grant Program to help states further reduce their total energy use, reduce emissions related to fossil fuel use, and improve energy efficiency across all sectors.
Significantly, the groups urged Congress to make the program's funding contingent upon state adoption of more stringent building code requirements and major changes to utility regulation that create long-term incentives to encourage major investments in energy efficiency. Without making such long-term changes, the benefits of federal funding under the block grant program likely would not be as sustainable, the organizations said.
"Today, the United States is the largest energy user and is the most energy inefficient economy of all developed countries," noted Alliance to Save Energy President Kateri Callahan, who continued: "An economic recovery bill that includes significant investments in energy efficiency will not only create jobs immediately, but also and more importantly will bring American ingenuity and its 'can-do' spirit to a new, clean and sustainable energy future -- one in which the U.S. becomes one of the most energy efficient economies in the world."
"With electricity demand projected to grow 30 percent over the next two decades and with utilities facing rising costs across the board, enhanced energy efficiency programs are critical to helping consumers manage their electricity costs," said EEI President Tom Kuhn. "For this to happen, state regulators must go beyond simply removing disincentives to greater efficiency gains by utilities. Instead, they must create regulations that allow utilities to earn a rate of return on new efficiency investments, comparable to what they would earn on a new power plant, for example."
Reid Detchon, executive director of the Energy Future Coalition, commented, "Most utilities make more money by selling more energy than they do by saving it. Flipping that incentive structure is the key to unlocking greater national investment in energy efficiency. Right now, the nation's building trades have been knocked flat on their backs by the economic downturn. Retrofitting America's buildings for energy efficiency can put them back to work immediately and deliver needed energy savings to consumers."
"Any serious approach to moving America toward clean energy and tackling our climate crisis must include energy efficiency as one of the key elements," said Peter Lehner, executive director of NRDC. "Energy efficiency is the fastest and most cost-effective way to decrease global warming pollution. Significant investments to increase energy efficiency in people's homes and businesses will help repower America with clean energy, save consumers millions of dollars, and create new jobs to restart our economy."
President-elect Obama and congressional advocates have indicated a clear desire to take up legislation to reduce greenhouse gas emissions. The groups emphasized that energy efficiency should be a key element of any federal response to climate concerns. "Energy efficiency programs offer both immediate and long-term benefits by creating green jobs, helping to mitigate rising energy costs and reducing emissions related to global warming," they said. "We hope Congress will move quickly on these critical issues."
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The Alliance to Save Energy, Edison Electric Institute, Energy Future Coalition and the Natural Resources Defense Council released proposals ranging from low-income home weatherization and energy efficiency retrofits for homes and commercial and government buildings, to strengthened national model building energy codes, enhanced product efficiency standards and energy efficiency investments by utilities. In addition to federal funds for job-creating efficiency programs, the groups asked Congress to fund the authorized Energy Efficiency and Conservation Block Grant Program to help states further reduce their total energy use, reduce emissions related to fossil fuel use, and improve energy efficiency across all sectors.
Significantly, the groups urged Congress to make the program's funding contingent upon state adoption of more stringent building code requirements and major changes to utility regulation that create long-term incentives to encourage major investments in energy efficiency. Without making such long-term changes, the benefits of federal funding under the block grant program likely would not be as sustainable, the organizations said.
"Today, the United States is the largest energy user and is the most energy inefficient economy of all developed countries," noted Alliance to Save Energy President Kateri Callahan, who continued: "An economic recovery bill that includes significant investments in energy efficiency will not only create jobs immediately, but also and more importantly will bring American ingenuity and its 'can-do' spirit to a new, clean and sustainable energy future -- one in which the U.S. becomes one of the most energy efficient economies in the world."
"With electricity demand projected to grow 30 percent over the next two decades and with utilities facing rising costs across the board, enhanced energy efficiency programs are critical to helping consumers manage their electricity costs," said EEI President Tom Kuhn. "For this to happen, state regulators must go beyond simply removing disincentives to greater efficiency gains by utilities. Instead, they must create regulations that allow utilities to earn a rate of return on new efficiency investments, comparable to what they would earn on a new power plant, for example."
Reid Detchon, executive director of the Energy Future Coalition, commented, "Most utilities make more money by selling more energy than they do by saving it. Flipping that incentive structure is the key to unlocking greater national investment in energy efficiency. Right now, the nation's building trades have been knocked flat on their backs by the economic downturn. Retrofitting America's buildings for energy efficiency can put them back to work immediately and deliver needed energy savings to consumers."
"Any serious approach to moving America toward clean energy and tackling our climate crisis must include energy efficiency as one of the key elements," said Peter Lehner, executive director of NRDC. "Energy efficiency is the fastest and most cost-effective way to decrease global warming pollution. Significant investments to increase energy efficiency in people's homes and businesses will help repower America with clean energy, save consumers millions of dollars, and create new jobs to restart our economy."
President-elect Obama and congressional advocates have indicated a clear desire to take up legislation to reduce greenhouse gas emissions. The groups emphasized that energy efficiency should be a key element of any federal response to climate concerns. "Energy efficiency programs offer both immediate and long-term benefits by creating green jobs, helping to mitigate rising energy costs and reducing emissions related to global warming," they said. "We hope Congress will move quickly on these critical issues."
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Wednesday, December 10, 2008
New Green Energy Plans Would Create 120 Green Tons of Wood Demand
PRNewswire/ -- RISI today through its Wood Biomass Market Report, indicated that woodfiber will play a major role in any new green energy spending plans in the U.S. The Report stated that as of Dec. 12, estimates from the ever-expanding federal stimulus package suggest the green component (wood, wind, solar, etc.) will be a whopping $50 billion over two years. If 20% falls to wood energy, that near term spending of $10 billion would spur formidable growth, providing tens of thousands of new jobs -- and wood demand of perhaps 120 million green tons, long-term.
Compared to an estimated 215 green tons of consumption currently by the nation's pulp & paper industry, this new demand will be significant, and could create a $3 billion per year wood energy market at current prices. The Report also projects that a good bit of this expansion is already underway, with current projects topping 32 million tons. Wood-derived fuels already account for a full third of the nation's renewable energy, 50% if hydroelectricity were excluded. RISI projects that this increased demand will occur most in the U.S. South, followed by the U.S. West, and then the U.S. North.
Chris Lyddan, Contributing Editor of the Wood Biomass Market Report, comments, "How soon we might see this increase in demand take place ultimately rests heavily in the hands of President-elect Barack Obama and the next Congress." He continued, "Regardless of the actual timing, an ongoing RISI assessment of the plan reveals wholesale changes to forestry and traditional wood users are on the way. More than $13 billion in public and private investment capital was pumped into US clean energy industries in 2007, according to the Department of Energy. Interestingly, the newly proposed government incentives exclude the many billions of dollars of private sector funding required in new projects. As such, wood energy investments could dwarf failing paper and lumber operations in just the next several years, almost an imponderable outcome."
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Compared to an estimated 215 green tons of consumption currently by the nation's pulp & paper industry, this new demand will be significant, and could create a $3 billion per year wood energy market at current prices. The Report also projects that a good bit of this expansion is already underway, with current projects topping 32 million tons. Wood-derived fuels already account for a full third of the nation's renewable energy, 50% if hydroelectricity were excluded. RISI projects that this increased demand will occur most in the U.S. South, followed by the U.S. West, and then the U.S. North.
Chris Lyddan, Contributing Editor of the Wood Biomass Market Report, comments, "How soon we might see this increase in demand take place ultimately rests heavily in the hands of President-elect Barack Obama and the next Congress." He continued, "Regardless of the actual timing, an ongoing RISI assessment of the plan reveals wholesale changes to forestry and traditional wood users are on the way. More than $13 billion in public and private investment capital was pumped into US clean energy industries in 2007, according to the Department of Energy. Interestingly, the newly proposed government incentives exclude the many billions of dollars of private sector funding required in new projects. As such, wood energy investments could dwarf failing paper and lumber operations in just the next several years, almost an imponderable outcome."
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Shaw Chairman Urges National Commitment to Build Nuclear Power Plants
(BUSINESS WIRE)--The Shaw Group Inc. (NYSE:SGR) Chairman J.M. Bernhard Jr. called for a national commitment to build up to 50 nuclear power plants by 2030, telling a gathering of power industry leaders that the jobs, clean electricity and energy independence created by a “nuclear renaissance” offer a unique platform to achieve the “hope and change” pledged by President-elect Barack Obama.
“If this nation and the Obama administration are truly serious about controlling global warming, nuclear power must maintain its 20 percent share of U.S. power generation,” said Mr. Bernhard, Shaw’s chairman, president and chief executive officer, during a keynote address at last week’s Power-Gen International 2008 trade show in Orlando, Fla. “That will require the construction of 45 to 50 new nuclear plants by 2030, while also maintaining operation of the current fleet.”
Such a commitment, he said, would have the support of most Americans. “Almost 70 percent of Americans favor the construction of new nuclear plants,” Mr. Bernhard said. “That level of public opinion has never been higher.”
One reason a nuclear renaissance is vital, he explained, is that alternative forms of generation are years away from providing reliable, plentiful and affordable carbon-free electricity. While wind and solar are receiving a lot of attention as sources of clean energy, Shaw’s chairman cautioned that “we need to be honest” about their ability to meet U.S. electricity needs.
“Wind and solar will play a part, but they will not replace baseload sources of electric generation,” he said.
Given that reality, Mr. Bernhard said that nuclear must continue to play a significant role in meeting U.S. electricity demand that is projected to grow 1.1 percent annually through 2030.
Moreover, because of the limitations facing alternatives, Mr. Bernhard said that any serious effort to curb greenhouse-gas emissions must include a significant amount of carbon-free nuclear power.
Beyond its environmental benefits, Mr. Bernhard told the Power-Gen audience that a nuclear renaissance also would help drive the economic revitalization promised by President-elect Obama during the election campaign.
Mr. Bernhard said a nuclear renaissance “would create an industry-driven jobs program unrivaled since the great infrastructure projects of FDR’s Works Progress Administration. But unlike those Depression-era programs, the nuclear renaissance won’t be fueled with deficit financing by the federal government. Rather, it will be paid for with private capital and built by private citizens.”
Shaw's chairman cited a number of economic benefits that would be generated by a national commitment to build a new generation of nuclear power plants:
* Each nuclear construction project would directly employ approximately 4,000 craft workers.
* Once completed, a nuclear plant’s operation and maintenance would generate 400-700 permanent jobs paying an average of 36 percent more than local wages.
* The typical nuclear plant annually generates $430 million in sales of goods and services in the local community and $40 million in total labor income.
“The fact is that few initiatives can achieve the ‘hope and change’ promised by our incoming president like the nuclear renaissance: jobs for the middle class, economic growth, energy independence and a cleaner environment,” Mr. Bernhard said.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. The statements contained herein that are not historical facts (including without limitation statements to the effect that the Company or its management “believes,” “expects,” “anticipates,” “plans” or other similar expressions) and statements related to revenues, earnings, backlog, or other financial information or results are forward-looking statements based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions and are subject to change based upon various factors. Should one or more of such risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. A description of some of the risks and uncertainties that could cause actual results to differ materially from such forward-looking statements can be found in the Company’s reports and registration statements filed with the Securities and Exchange Commission, including its Form 10-K and Form 10-Q reports, and on the Company's Web site under the heading "Forward-Looking Statements.” These documents are also available from the Securities and Exchange Commission or from the Investor Relations department of Shaw. For more information on the Company and announcements it makes from time to time on a regional basis, visit our Web site at www.shawgrp.com.
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“If this nation and the Obama administration are truly serious about controlling global warming, nuclear power must maintain its 20 percent share of U.S. power generation,” said Mr. Bernhard, Shaw’s chairman, president and chief executive officer, during a keynote address at last week’s Power-Gen International 2008 trade show in Orlando, Fla. “That will require the construction of 45 to 50 new nuclear plants by 2030, while also maintaining operation of the current fleet.”
Such a commitment, he said, would have the support of most Americans. “Almost 70 percent of Americans favor the construction of new nuclear plants,” Mr. Bernhard said. “That level of public opinion has never been higher.”
One reason a nuclear renaissance is vital, he explained, is that alternative forms of generation are years away from providing reliable, plentiful and affordable carbon-free electricity. While wind and solar are receiving a lot of attention as sources of clean energy, Shaw’s chairman cautioned that “we need to be honest” about their ability to meet U.S. electricity needs.
“Wind and solar will play a part, but they will not replace baseload sources of electric generation,” he said.
Given that reality, Mr. Bernhard said that nuclear must continue to play a significant role in meeting U.S. electricity demand that is projected to grow 1.1 percent annually through 2030.
Moreover, because of the limitations facing alternatives, Mr. Bernhard said that any serious effort to curb greenhouse-gas emissions must include a significant amount of carbon-free nuclear power.
Beyond its environmental benefits, Mr. Bernhard told the Power-Gen audience that a nuclear renaissance also would help drive the economic revitalization promised by President-elect Obama during the election campaign.
Mr. Bernhard said a nuclear renaissance “would create an industry-driven jobs program unrivaled since the great infrastructure projects of FDR’s Works Progress Administration. But unlike those Depression-era programs, the nuclear renaissance won’t be fueled with deficit financing by the federal government. Rather, it will be paid for with private capital and built by private citizens.”
Shaw's chairman cited a number of economic benefits that would be generated by a national commitment to build a new generation of nuclear power plants:
* Each nuclear construction project would directly employ approximately 4,000 craft workers.
* Once completed, a nuclear plant’s operation and maintenance would generate 400-700 permanent jobs paying an average of 36 percent more than local wages.
* The typical nuclear plant annually generates $430 million in sales of goods and services in the local community and $40 million in total labor income.
“The fact is that few initiatives can achieve the ‘hope and change’ promised by our incoming president like the nuclear renaissance: jobs for the middle class, economic growth, energy independence and a cleaner environment,” Mr. Bernhard said.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. The statements contained herein that are not historical facts (including without limitation statements to the effect that the Company or its management “believes,” “expects,” “anticipates,” “plans” or other similar expressions) and statements related to revenues, earnings, backlog, or other financial information or results are forward-looking statements based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions and are subject to change based upon various factors. Should one or more of such risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. A description of some of the risks and uncertainties that could cause actual results to differ materially from such forward-looking statements can be found in the Company’s reports and registration statements filed with the Securities and Exchange Commission, including its Form 10-K and Form 10-Q reports, and on the Company's Web site under the heading "Forward-Looking Statements.” These documents are also available from the Securities and Exchange Commission or from the Investor Relations department of Shaw. For more information on the Company and announcements it makes from time to time on a regional basis, visit our Web site at www.shawgrp.com.
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Monday, December 8, 2008
Obama Struggles to Explain Drop of Windfall Profits Tax for Oil and Gas Industry
/PRNewswire-USNewswire/ -- The following is a statement from the American Small Business League:
Barack Obama may already be losing credibility over his explanation as to why he dropped the windfall profits tax on the oil and gas industry from his administration's agenda. During his campaign, President-elect Obama promised to enact a windfall profits tax on the oil and gas industry, which would help finance a $1,000 emergency energy rebate for American families.
During the campaign, Obama repeated his commitment to enacting a windfall profits tax on the oil and gas industry hundreds of times. The Obama camp ran national television advertisements touting the windfall profits tax, and used the issue in campaign speeches right up to the election. (http://www.youtube.com/watch?v=QJPo5IGTd0A)
Now, any mention of the windfall profits tax has been quietly removed from the Obama-Biden transition website, www.change.gov, and an anonymous "transition team aide" acknowledged that the windfall profits tax had been dropped.
The Obama camp's explanation as to why the windfall profits tax has been dropped is inconsistent with the facts and the actual series of events.
The main excuse the Obama camp offered was that the price of oil had dropped below $80 per barrel, and as a result there was no need for a windfall profits tax. (http://www.businessweek.com/bwdaily/dnflash/content/dec2008/db2008124_176271. htm?chan=top+news_top+news+index+-+temp_news+%2B+analysis) There are several problems with their excuse.
According to OPEC, the price of oil dropped below $80 per barrel in early October, yet Obama continued to campaign on the promise of a windfall profits tax.
The windfall profits tax was the number one issue under "economy" on Obama's transition site, www.change.gov, when it was launched on November 6th and the price of oil was $54.89. It was removed without explanation on November 8th. The price of oil remained relatively stable during that three-day time frame and any miniscule change would not justify the sudden and unexplained elimination of one of Obama's cornerstone campaign promises.
The oil and gas industry has been making excessive profits for several years, even when the price of a barrel of oil was dramatically less than it is now. At the present moment gas prices have decreased, but with no windfall profits tax in place the oil companies are free to arbitrarily increase the price of gas at any point in time.
In 2003, when the average price of a barrel of oil was $30.06, big oil companies reaped record profits. (http://www.eia.doe.gov/emeu/international/crude2.html) According to an Associated Press (AP) article dated January 29, 2004, Exxon-Mobil earned $21.51 billion in profits during fiscal year (FY) 2003. At the time, the mark nearly doubled the company's profit during FY 2002. (http://www.washingtonpost.com/wp-dyn/articles/A60862-2004Jan29_2.html)
"It is difficult to believe President-elect Obama's explanation for dropping one of his most significant campaign promises when you look at the facts," American Small Business League President Lloyd Chapman said.
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Barack Obama may already be losing credibility over his explanation as to why he dropped the windfall profits tax on the oil and gas industry from his administration's agenda. During his campaign, President-elect Obama promised to enact a windfall profits tax on the oil and gas industry, which would help finance a $1,000 emergency energy rebate for American families.
During the campaign, Obama repeated his commitment to enacting a windfall profits tax on the oil and gas industry hundreds of times. The Obama camp ran national television advertisements touting the windfall profits tax, and used the issue in campaign speeches right up to the election. (http://www.youtube.com/watch?v=QJPo5IGTd0A)
Now, any mention of the windfall profits tax has been quietly removed from the Obama-Biden transition website, www.change.gov, and an anonymous "transition team aide" acknowledged that the windfall profits tax had been dropped.
The Obama camp's explanation as to why the windfall profits tax has been dropped is inconsistent with the facts and the actual series of events.
The main excuse the Obama camp offered was that the price of oil had dropped below $80 per barrel, and as a result there was no need for a windfall profits tax. (http://www.businessweek.com/bwdaily/dnflash/content/dec2008/db2008124_176271. htm?chan=top+news_top+news+index+-+temp_news+%2B+analysis) There are several problems with their excuse.
According to OPEC, the price of oil dropped below $80 per barrel in early October, yet Obama continued to campaign on the promise of a windfall profits tax.
The windfall profits tax was the number one issue under "economy" on Obama's transition site, www.change.gov, when it was launched on November 6th and the price of oil was $54.89. It was removed without explanation on November 8th. The price of oil remained relatively stable during that three-day time frame and any miniscule change would not justify the sudden and unexplained elimination of one of Obama's cornerstone campaign promises.
The oil and gas industry has been making excessive profits for several years, even when the price of a barrel of oil was dramatically less than it is now. At the present moment gas prices have decreased, but with no windfall profits tax in place the oil companies are free to arbitrarily increase the price of gas at any point in time.
In 2003, when the average price of a barrel of oil was $30.06, big oil companies reaped record profits. (http://www.eia.doe.gov/emeu/international/crude2.html) According to an Associated Press (AP) article dated January 29, 2004, Exxon-Mobil earned $21.51 billion in profits during fiscal year (FY) 2003. At the time, the mark nearly doubled the company's profit during FY 2002. (http://www.washingtonpost.com/wp-dyn/articles/A60862-2004Jan29_2.html)
"It is difficult to believe President-elect Obama's explanation for dropping one of his most significant campaign promises when you look at the facts," American Small Business League President Lloyd Chapman said.
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