Federal regulators should reevaluate the incentive model for gas pipelines

5 years 3 months ago

The energy industry is in the midst of a massive transformation. Natural gas fired power plants are now the dominant source of electric power in the U.S., and according to numerous studies, natural gas will continue to have a role in our future energy system — even in stringent greenhouse gas reduction scenarios. For the […]

The post Federal regulators should reevaluate the incentive model for gas pipelines appeared first on Energy Exchange.

Natalie Karas

Federal regulators should reevaluate the incentive model for gas pipelines

5 years 3 months ago
The energy industry is in the midst of a massive transformation. Natural gas fired power plants are now the dominant source of electric power in the U.S., and according to numerous studies, natural gas will continue to have a role in our future energy system — even in stringent greenhouse gas reduction scenarios. For the […]
Natalie Karas

Rhetoric to reality: What to watch after oil executives’ Vatican visit

5 years 3 months ago
Earlier this month, more than 30 oil and gas CEOs and investors captured headlines by meeting with Pope Francis in the Vatican on climate change, then releasing a statement supporting carbon pricing. What is clear from this high-profile event is that the climate crisis has become a societal imperative, an investor priority, and a top […]
Ben Ratner

Delta Dispatches: The River’s Revenge with Tristan Baurick

5 years 3 months ago

Thanks for listening to the latest episode of Delta Dispatches! In today’s episode, hosts Jacques Hebert and Simone Maloz dive deep into the Mississippi River with Tristan Baurick to discuss his 5 part investigative series about the Upper Mississippi River. From the Headwaters in Minnesota to Davenport, Iowa, Tristan focused on stories of different ways we’ve tried to control the Mississippi River. At the end of the show, Melissa Mylchreest, associate director at the Institute for Journalism & Natural Resources ...

Read The Full Story

The post Delta Dispatches: The River’s Revenge with Tristan Baurick appeared first on Restore the Mississippi River Delta.

rchauvin

Delta Dispatches: The River’s Revenge with Tristan Baurick

5 years 3 months ago

Thanks for listening to the latest episode of Delta Dispatches! In today’s episode, hosts Jacques Hebert and Simone Maloz dive deep into the Mississippi River with Tristan Baurick to discuss his 5 part investigative series about the Upper Mississippi River. From the Headwaters in Minnesota to Davenport, Iowa, Tristan focused on stories of different ways we’ve tried to control the Mississippi River. At the end of the show, Melissa Mylchreest, associate director at the Institute for Journalism & Natural Resources ...

Read The Full Story

The post Delta Dispatches: The River’s Revenge with Tristan Baurick appeared first on Restore the Mississippi River Delta.

rchauvin

What You Could Be Missing:

5 years 3 months ago
You're just a click away from taking the next step and getting our most exclusive content on how to make your voice count. C4. Regional.
Environmental Defense Fund

What You Could Be Missing:

5 years 3 months ago
You're just a click away from taking the next step and getting our most exclusive content on how to make your voice count. C4. Regional.
Environmental Defense Fund

OH Senate’s HB 6 substitute bill is still a bailout for FirstEnergy

5 years 3 months ago
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} } @media only screen and (max-width: 480px){ .mcnTextContent,.mcnBoxedTextContentColumn{ padding-right:18px !important; padding-left:18px !important; } } @media only screen and (max-width: 480px){ .mcnImageCardLeftImageContent,.mcnImageCardRightImageContent{ padding-right:18px !important; padding-bottom:0 !important; padding-left:18px !important; } } @media only screen and (max-width: 480px){ .mcpreview-image-uploader{ display:none !important; width:100% !important; } } @media only screen and (max-width: 480px){ h1{ font-size:30px !important; line-height:125% !important; } } @media only screen and (max-width: 480px){ h2{ font-size:26px !important; line-height:125% !important; } } @media only screen and (max-width: 480px){ h3{ font-size:20px !important; line-height:150% !important; } } @media only screen and (max-width: 480px){ h4{ font-size:18px !important; line-height:150% !important; } } @media only screen and (max-width: 480px){ .mcnBoxedTextContentContainer .mcnTextContent,.mcnBoxedTextContentContainer .mcnTextContent p{ font-size:14px !important; line-height:150% !important; } } @media only screen and (max-width: 480px){ .headerContainer .mcnTextContent,.headerContainer .mcnTextContent p{ font-size:16px !important; line-height:150% !important; } } @media only screen and (max-width: 480px){ .bodyContainer .mcnTextContent,.bodyContainer .mcnTextContent p{ font-size:16px !important; line-height:150% !important; } } @media only screen and (max-width: 480px){ .footerContainer .mcnTextContent,.footerContainer .mcnTextContent p{ font-size:14px !important; line-height:150% !important; } } The HB 6 substitute bill (the first formal revision to the House version) is still a bailout bill. Friday, June 28, 2019 - Edition #70

Bailing out buggy whips

The Ohio Senate’s HB 6 substitute bill (the first formal revision to the House version) is still a bailout bill, providing $150 million per year for FirstEnergy Solutions’ two old and uneconomic nuclear reactors. It also would have Ohio taxpayers pay a larger (but undefined) amount for two (really) old and uneconomic coal-fired power plants, one of which is in Indiana. And though the legislation claims to preserve efficiency and renewable energy provisions, its details reveal that those effective clean energy programs would be gutted. If we took this approach 100 years ago, we’d be subsiding buggy whips instead of investing in the emerging automotive industry. 

Bill sponsors claim it holds FirstEnergy Solutions accountable, but it gives oversight of bailout funds to the Public Utilities Commission of Ohio, which the Ohio Supreme Court just found had illegally provided FirstEnergy with a $600-million check — no strings attached.

This new bailout bill would have Ohio subsidize energy generation sources of the past and abandon the future of energy innovation. Other states must be cheering for the investments and jobs that will flow to them from Ohio.

Who really benefits?

FirstEnergy and its supportive legislators have tied themselves in knots to sell their HB 6, a $1.4 billion money grab by a giant corporation and its speculative, out-of-state investors that made a bad bet on a declining business. Let’s be clear. There’s no crime in gambling on troubled companies. It happens a lot on Wall Street. But their risky bets shouldn’t cost Ohioans $150 million a year.

The people who would pay for HB 6 all live right here – on Main Street in every town across the state. But their $150 million annual “investment” would exit Ohio so quickly we’ll be able to hear the “whoosh” sound. Bob and Betty Buckeye shouldn’t be stuck covering someone else’s bad business decisions.

Conservatives?
It’s ironic that some of the biggest bailout boosters claim to be conservatives who stand for free markets and against corporate cronyism. In fact, the 2016 national Republican Party platform states: “We support the development of all forms of energy that are marketable in a free economy without subsidies [emphasis added], including coal, oil, natural gas, nuclear power and hydropower.” HB 6 utterly abandons this conservative creed by bailing out the FirstEnergy Solutions’ nuclear reactors and the Ohio Valley Electric Corporation coal plants.

Conservative lawmakers often say they base their policies on the ideas of Nobel Prize-winning economist Friedrich Hayek. But Hayek favored free markets and opposed government interventions and subsidies. If he were alive today, Hayek would be shocked by HB 6 and its support from erstwhile conservatives.

Couldn’t Have Said It Better

From this week’s editorial by the Toledo Blade
 

“The best thing that can be said about House Bill 6 – the bailout of FirstEnergy Solutions’ Davis-Bessie and Perry nuclear power plants – is that it is no longer masquerading as anything other than the ugly sweetheart deal that it is.


Weeks ago, the state House dispensed with the pretense that the bill was somehow a genuine green-energy measure by stripping away the renewable-energy credits that would have benefited solar or wind-energy producers in the state.
The fig leaf is gone. And the naked money grab by a large, failing utility company is an ugly sight.”

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5 Reasons Why 2019’s Mississippi River Flood is the Most Unprecedented of Our Time

5 years 3 months ago

2019 has been an unprecedented and historic year on the Mississippi River. This year’s flood has broken records set in 1973 and even 1927 – two years with river floods whose impacts are still felt and that shaped how the Mississippi River is managed today. Since November 2, 2018, the U.S. Army Corps of Engineers (Corps) has been working tirelessly to manage the river’s flood waters and prevent additional flooding to communities across the Mississippi River Valley. While communities upriver ...

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The post 5 Reasons Why 2019’s Mississippi River Flood is the Most Unprecedented of Our Time appeared first on Restore the Mississippi River Delta.

rchauvin