Weekly Mulch: The Sticky Truth about Oil Spills and Tar Sands

by Sarah Laskow, Media Consortium Blogger

The National Oil Spill Commission released its report on last year’s BP oil spill this week. The report laid out the blame for the spill, tagging each of the three companies working on the Deepwater Horizon at the time, Halliburton, Transocean and BP, and also offered prescriptions for avoiding similar disasters in the future.

As Mother Jones‘ Kate Sheppard notes, it’s unlikely the recommendations will impact policy going forward.

“I think the recommendations are pretty tepid given the severity of the crisis,” Jackie Savitz, director of pollution campaigns at the advocacy group Oceana, told Sheppard. “Even the small things they’re suggesting, I think it’s going to be hard to convince Congress to make those changes.”

No transparency for you!

Last summer, after the spill, the Obama administration tried hard to look like it was pushing back against the oil industry, even though just weeks before the spill, the president had promised to open new areas of the East Coast to offshore drilling.

This week brought new evidence that, despite some posturing to the contrary, the administration is not exactly unfriendly to the energy industry. One of the key decisions the administration faces about the country’s energy future is whether to support the Keystone XL, a pipeline that would pump oil from tar sands in Canada down to Texas refineries.  And one of the key lobbyists for TransCanada, the company intending to build the pipeline, is a former staffer for Secretary of State Hillary Clinton.

Friends of the Earth, an environmental group, filed a Freedom of Information requesting correspondence between the lobbyist, Paul Elliott, and his former boss, but the State Department denied the request.

“We do not believe that the State Department has legitimate legal grounds to deny our FOIA request, and assert that the agency is ignoring its own written guidance regarding FOIA requests and the release of public information,” said Marcie Keever, the group’s legal director, The Michigan Messenger’s Ed Brayton reports. “This is the type of delay tactic we would have expected from the Bush administration, not the Obama administration, which has touted its efforts to usher in a new era of transparency in government, including elevated standards in dealing with lobbyists.”

Tar sands’ black mark

What are the consequences if the government approves the pipeline? As Care2’s Beth Buczynski writes, “Communities along the Keystone XL pipeline’s proposed path would face increased risk of spills, and, at the pipeline’s end, the health of those living near Texas refineries would suffer, as tar sands oil spews higher levels of dangerous pollutants into the air when processed.”

What’s more, the tar sands extraction process has already brought environmental devastation to the areas like Alberta, Canada, where tar sands mining occurs. Earth Island Journal’s Jason Mark recently visited the Oil Sands Discovery Centre in Ft. McMurray, Alberta, which he calls “impressively forthright” in its discussion of the environmental issues brought on by oil sands. (The museum is run by Alberta’s provincial government.) Mark reports:

The section on habitat fragmentation was especially good. As one panel put it, “Increasingly, Alberta’s remaining forested areas resemble islands of trees in a larger network of cut lines, well sites, mine, pipeline corridors, plant sites, and human settlements. … Forest disturbances can also encourage increased predation and put some plants and animals at risk.”

Not renewable, just new

The museum that Mark visited also made clear that extracting and refining oil from tar sands is a labor-intensive practice. He writes:

Mining, we learn, is just the start. Then the tar has to be “upgraded” into synthetic petroleum via a process that involves “conditioning,” “separation” into a bitumen froth, then “deaeration” to take out gases, and finally injection into a dual-system centrifuge that removes the last of the solids. Next comes distillation, thermal conversion, catalytic conversion, and hydrotreating. At that point the recombined petroleum is ready to be refined into gasoline, diesel, and jet fuel. It all felt like a flashback to high school chemistry.

Why bother with this at all? In short, because with easily accessible sources of oil largely tapped out, techniques like tar sands mining and deepwater drilling are the only fonts of oil available. This problem is going to get worse, as The Nation is explaining over the next few weeks in its video series on peak oil.

Energy and the economy

Traditional ideas about energy dictate that even as the world uses up limited resources like oil, technology will create access to new sources, find ways to use limited resources more efficiently, or find ways to consume new sources of energy. These advances will head off any problems with consumption rates. The peak oil theory, on the contrary, argues that it is possible to use up a resource like oil, that there’s a peak in supply.

Once the peak has been passed, the consequences, particularly the economic consequences, become dire, as Richard Heinberg, senior fellow with the Post Carbon Institute explains. “If the amount of energy we can use is declining, we may be seeing the end of economic growth as we define it right now,” he told The Nation. Watch more below:

Light green

Part of the problem is that the energy resources that could replace fossil fuels like oil—wind and solar energy, for instance—likely won’t be in place before the oil wells run dry. And as Monica Potts reports at The American Prospect, our new green economy is getting off to a slow start.

Although the administration has talked incessantly about supporting green jobs, Potts writes that the federal government hasn’t even finalized what count as a “green job” yet. The working definition, which is currently under review, asserts that green jobs are in industries that “benefit the environment or conserve national resources” or entails work to green a company’s “production process.” But what does that actually mean?

“That definition was rightly criticized as overly broad,” Potts writes. She continues:

While nearly everyone would include installing solar panels as a green job, what about an architect who designs a green house? (Under the proposed definition, both would count.) … Another problem comes in weighing green purposes against green execution: We could count, for example, public-transit train operators as green workers. But how do we break down transportation as an industry more broadly? Most would probably agree that truckers who drive tractor-trailers running on diesel fuel wouldn’t count as green workers even if they’re transporting wind-turbine parts. And many of the jobs we would count as green already exist.

It doesn’t exactly inspire confidence that the country is moving swiftly toward a bright green future.

This post features links to the best independent, progressive reporting about the environment by members of The Media Consortium. It is free to reprint. Visit the Mulch for a complete list of articles on environmental issues, or follow us on Twitter. And for the best progressive reporting on critical economy, health care and immigration issues, check out The Audit, The Pulse, and The Diaspora. This is a project of The Media Consortium, a network of leading independent media outlets.

 

 

Weekly Mulch: When will America be free from BP?

by Sarah Laskow, Media Consortium blogger

On July 4th, Americans are supposed to celebrate their independence. We may no longer have to worry about a greedy, distant monarch. But our country is still held in thrall to powerful interests that prize profit over individuals and their freedom—the energy industry comes to mind. As Jason Mark puts it at AlterNet:

“We’re in an abusive relationship and unable to leave our abuser. The plight of the people in Louisiana proves the point. Louisianans have been punched in the face by the hand that feeds them, and yet their biggest worry is that the oil and gas industry is going to walk out the door and leave them.”

Where’s the love?

It’s clear that BP, for instance, isn’t playing carefully with our country or its resources. At Mother Jones, David Corn relates the latest example of the company’s callousness. Its recovery plan had no stipulations about handling even a small storm like the one that stopped clean-up this week. It did, however, include plans to save sea life that hasn’t lived in the Gulf for millions of years. As Corn put it, the company was “prepared for walruses, not prepared for hurricanes.”

The biggest problem, of course, is that BP wasn’t prepared to handle a blow-out to begin with. The leak has gone on for so long that governmental officials are now taking unprecedented measures to protect the wildlife most vulnerable to its effects. Beth Buczynski reports at Care2 that official are going to dig up about 700 sea turtle nests on Alabama and Florida beaches that are at risk from the oil.

“Once the eggs have hatched, the young turtles will be released in darkness on Florida’s Atlantic beaches into oil-free water,” she writes. “Translocation of nests on this scale has never been attempted before.”

Halliburton

No matter how badly these companies treat us, it seems we can’t get rid of them. Take Halliburton. The company has latched its talons into the country and will not let go. It is second only to BP in shouldering responsibility for the Deepwater Horizon spill. As Jason Mark reports for the Earth Island Journal, just before the oil spill, Halliburton took over Boots & Coots, a company that deals with oil-well blowouts; that company now has a contract with BP to help with the relief well.

“Halliburton is essentially making money from causing the accident and then helping to repair it,” Mark writes. “Halliburton’s many-fingered tentacles is just the latest illustration of how powerful the company is.”

Wimpy Washington

Washington isn’t strong enough to fight back against that sort of corporate  power. Over the past year, energy interests have whittled down the climate change legislation to a tepid half-step. Right now it looks most likely that a bill that passes will regulate only the utilities sector.

“We believe we have compromised significantly, and we’re prepared to compromise further,” Sen. John Kerry (D-MA) told Politico this week after a White House meeting on the bill.

“If you’re looking for the sorry state of American energy politics distilled into one line, there it is,” writes Jonathan Hiskes at Grist. “Kerry fights harder for clean energy than just about any national politician.”

Still, if anything passes the Senate, Washington will celebrate. As Aaron Wiener explains at the Washington Independent, “For all the disappointment among environmentalists over the repeated compromises Democrats have made on climate legislation to win over moderates, some argue that a utilities-only cap would achieve most of the goals of an economy-wide carbon pricing scheme. The question now is whether Democratic leaders in the Senate can muster 60 votes for even a weakened bill to overcome a Republican filibuster.”

Our friends abroad

On an international level, our governing bodies might be doing a better job, but not by much. Inter Press Service reports that the countries at the meeting promised to scale back taxpayer subsidies of fossil fuels. Even that promise is limited, however. “Countries agree to phase out “inefficient fossil fuel subsidies” but each country decides what those are,” IPS reports. “Some countries like Japan, Australia, Italy and others have already said they don’t have any.”

And at Earth Island Journal, Ron Johnson heard a different story.

Johnson spoke to Kim Carstensen, who leads the World Wildlife Fund’s Global Climate Initiative, who compared this meeting’s report to that of the last G20 summit and found that climate issues had dropped off the radar. “There were eight references to clean energy in the final report from Pittsburgh (the last G20 Summit) and they have been completely vacuum cleaned,” he said. “That is kind of scary.”

Fight back

In situations like this, it takes massive pressure from outside to move the political apparatus forward. At AlterNet, Heetan Kalan has some ideas about how to progress—reach beyond the environmental community; enlist “doctors, nurses, public health officials and patients speaking out about the connection between consumers of coal energy and their immediate health concerns.” Kalan writes:

“After all, climate change is not solely an environmental problem — it is a human/planetary problem. If we are going to rely on a small base of environmentalists to carry us through this crisis, we are in trouble. Our spokespeople on this issue have to come from a wide spectrum of citizens and leaders.”

Certainly, they have to come from somewhere, and as Steve Benen writes at The Washington Monthly, whoever is speaking on this issue now, they’re not speaking loud enough.

“Lawmakers aren’t facing much in the way of public pressure,” he writes. “The polls look encouraging, suggesting the public is inclined to back the Democratic proposals, but that support hasn’t translated into aggressive advocacy — phone calls to lawmakers’ offices, letter-writing campaigns, district meetings, sizable rallies, etc….If engaged constituents want more, Congress will have to feel considerably more heat than they are now.”

In other words, if America wants to be free of coal, oil, gas, and the energy industry, we’re going to have to fight for it.

This post features links to the best independent, progressive reporting about the environment by members of The Media Consortium. It is free to reprint. Visit the Mulch for a complete list of articles on environmental issues, or follow us on Twitter. And for the best progressive reporting on critical economy, health care and immigration issues, check out The Audit, The Pulse, and The Diaspora. This is a project of The Media Consortium, a network of leading independent media outlets.

 

 

Weekly Mulch: When will America be free from BP?

by Sarah Laskow, Media Consortium blogger

On July 4th, Americans are supposed to celebrate their independence. We may no longer have to worry about a greedy, distant monarch. But our country is still held in thrall to powerful interests that prize profit over individuals and their freedom—the energy industry comes to mind. As Jason Mark puts it at AlterNet:

“We’re in an abusive relationship and unable to leave our abuser. The plight of the people in Louisiana proves the point. Louisianans have been punched in the face by the hand that feeds them, and yet their biggest worry is that the oil and gas industry is going to walk out the door and leave them.”

Where’s the love?

It’s clear that BP, for instance, isn’t playing carefully with our country or its resources. At Mother Jones, David Corn relates the latest example of the company’s callousness. Its recovery plan had no stipulations about handling even a small storm like the one that stopped clean-up this week. It did, however, include plans to save sea life that hasn’t lived in the Gulf for millions of years. As Corn put it, the company was “prepared for walruses, not prepared for hurricanes.”

The biggest problem, of course, is that BP wasn’t prepared to handle a blow-out to begin with. The leak has gone on for so long that governmental officials are now taking unprecedented measures to protect the wildlife most vulnerable to its effects. Beth Buczynski reports at Care2 that official are going to dig up about 700 sea turtle nests on Alabama and Florida beaches that are at risk from the oil.

“Once the eggs have hatched, the young turtles will be released in darkness on Florida’s Atlantic beaches into oil-free water,” she writes. “Translocation of nests on this scale has never been attempted before.”

Halliburton

No matter how badly these companies treat us, it seems we can’t get rid of them. Take Halliburton. The company has latched its talons into the country and will not let go. It is second only to BP in shouldering responsibility for the Deepwater Horizon spill. As Jason Mark reports for the Earth Island Journal, just before the oil spill, Halliburton took over Boots & Coots, a company that deals with oil-well blowouts; that company now has a contract with BP to help with the relief well.

“Halliburton is essentially making money from causing the accident and then helping to repair it,” Mark writes. “Halliburton’s many-fingered tentacles is just the latest illustration of how powerful the company is.”

Wimpy Washington

Washington isn’t strong enough to fight back against that sort of corporate  power. Over the past year, energy interests have whittled down the climate change legislation to a tepid half-step. Right now it looks most likely that a bill that passes will regulate only the utilities sector.

“We believe we have compromised significantly, and we’re prepared to compromise further,” Sen. John Kerry (D-MA) told Politico this week after a White House meeting on the bill.

“If you’re looking for the sorry state of American energy politics distilled into one line, there it is,” writes Jonathan Hiskes at Grist. “Kerry fights harder for clean energy than just about any national politician.”

Still, if anything passes the Senate, Washington will celebrate. As Aaron Wiener explains at the Washington Independent, “For all the disappointment among environmentalists over the repeated compromises Democrats have made on climate legislation to win over moderates, some argue that a utilities-only cap would achieve most of the goals of an economy-wide carbon pricing scheme. The question now is whether Democratic leaders in the Senate can muster 60 votes for even a weakened bill to overcome a Republican filibuster.”

Our friends abroad

On an international level, our governing bodies might be doing a better job, but not by much. Inter Press Service reports that the countries at the meeting promised to scale back taxpayer subsidies of fossil fuels. Even that promise is limited, however. “Countries agree to phase out “inefficient fossil fuel subsidies” but each country decides what those are,” IPS reports. “Some countries like Japan, Australia, Italy and others have already said they don’t have any.”

And at Earth Island Journal, Ron Johnson heard a different story.

Johnson spoke to Kim Carstensen, who leads the World Wildlife Fund’s Global Climate Initiative, who compared this meeting’s report to that of the last G20 summit and found that climate issues had dropped off the radar. “There were eight references to clean energy in the final report from Pittsburgh (the last G20 Summit) and they have been completely vacuum cleaned,” he said. “That is kind of scary.”

Fight back

In situations like this, it takes massive pressure from outside to move the political apparatus forward. At AlterNet, Heetan Kalan has some ideas about how to progress—reach beyond the environmental community; enlist “doctors, nurses, public health officials and patients speaking out about the connection between consumers of coal energy and their immediate health concerns.” Kalan writes:

“After all, climate change is not solely an environmental problem — it is a human/planetary problem. If we are going to rely on a small base of environmentalists to carry us through this crisis, we are in trouble. Our spokespeople on this issue have to come from a wide spectrum of citizens and leaders.”

Certainly, they have to come from somewhere, and as Steve Benen writes at The Washington Monthly, whoever is speaking on this issue now, they’re not speaking loud enough.

“Lawmakers aren’t facing much in the way of public pressure,” he writes. “The polls look encouraging, suggesting the public is inclined to back the Democratic proposals, but that support hasn’t translated into aggressive advocacy — phone calls to lawmakers’ offices, letter-writing campaigns, district meetings, sizable rallies, etc….If engaged constituents want more, Congress will have to feel considerably more heat than they are now.”

In other words, if America wants to be free of coal, oil, gas, and the energy industry, we’re going to have to fight for it.

This post features links to the best independent, progressive reporting about the environment by members of The Media Consortium. It is free to reprint. Visit the Mulch for a complete list of articles on environmental issues, or follow us on Twitter. And for the best progressive reporting on critical economy, health care and immigration issues, check out The Audit, The Pulse, and The Diaspora. This is a project of The Media Consortium, a network of leading independent media outlets.

 

 

Weekly Mulch: Why the Senate Climate Bill is Doomed

by Sarah Laskow, Media Consortium blogger

Sen. John Kerry (D-MA) and Sen. Joe Lieberman (I-CT), though down one man, finally released their stab at climate legislation this week. One of the most crucial sections in the bill covers off-shore oil drilling, an issue that was supposed to help solve the tricky math of reaching 60 votes. But since the Deepwater Horizon rig sank in the Gulf of Mexico, drilling has become a wedge issue.

Just a few weeks ago, off-shore drilling could have been a point of compromise around which Senators could rally votes to pass the climate bill; now the bill had to strike a new balance to mollify both potential allies who oppose drilling, like Sen. Robert Menendez (D-NJ), and those who support drilling, like Sen. Mary Landrieu (D-LA). The draft that Sen. Kerry and Sen. Lieberman released this week allows for expanded drilling but gives states veto power over new projects.

Sen. Lindsey Graham (R-SC), who worked on the bill, said that he had not seen the changes his two colleagues had made since he dropped out of the drafting process—but he looked forward to reviewing their work. Although Sen. Kerry says he thinks the bill can pass,  without support from Sen. Graham or another Republican, chances are slim.

Next steps

Now that the two Senators have released the bill, the only work that remains is to pass it.

“I think climate change legislation is dead,” writes Kevin Drum at Mother Jones. His explanation:

“There’s not enough time for a bill to go through the committee process, get passed by the Senate, sent to conference, amended, and then passed by the full Congress before the midterms, and after the midterms Democrats will probably be reduced to 53 or 54 members in the Senate.”

Not everyone agrees that the bill’s chance are so dire, though.

“I think the chances are roughly as good as they’ve ever been in the Senate: low but non-trivial,” says Grist’s David Roberts.

Kerry’s argument

But should green-minded politicos root for the bill’s passage at all? Sen. Kerry and Sen. Lieberman worked closely with energy companies while drafting the bill, and the resulting legislation balances the need to reduce carbon emissions with the interests of prime polluters. The bill includes incentives for old energy industries like coal and natural gas, for instance, and exempts farmers from carbon caps.

On Wednesday, Sen. Kerry made his case to left-leaning environmentalists. “A comprehensive climate bill written purely for you and me — true believers — can’t pass the Senate no matter how hard or passionate I fight on it,” he wrote for Grist. The bill they have, he wrote, can pass, and that victory outweighs the compromises in the legislation.

Responses from the left

On Democracy Now!, Phil Radford, the executive director of GreenPeace USA, said that most environmental groups have given the bill little more than a “tepid endorsement.” Radford squared off on the show with Joseph Romm of the Center for American Progress, who supports the bill.

“This will be the first bill ever passed by the Senate, if it were to pass, that would put us on a path to get off of fossil fuels,” Romm said.

The two men were also divided over issues like the impact the climate bill could have on international negotiations.

They agreed, though, there is room for improvement; the only question is whether the politics of climate change will allow for the passage of a stronger bill any times soon. As Kevin Drum wrote, “If you think this year’s bills are watered down, just wait until you see what a Congress with a hair-thin Democratic majority produces.”

Coal and natural gas

Tripping up environmentalists now, though, are the hand-outs to dirty energy industries. The coal and natural gas industry could both benefit from the provisions of the Senate bill, for instance.

On GritTV, Jeff Biggers, a writer and educator who covers the coal industry, explained his frustration:

“The climate bill is a nice first step and a very well meaning effort for someone like Sen. Kerry who’s been working on this issue for 20 years. But at the same time, because of the massive big coal lobby that has poured millions of dollars into lobbying congress on this climate legislation…there are all sorts of little panders and loopholes and exemptions.”

“What we see in this bill is that Sen. Kerry and Lieberman want to ensure coal’s future,” he said.

The booming natural gas industry also had a hand in shaping the bill and benefited from it. Environmental groups like the Sierra Club favor natural gas as an energy source over coal, and as Kari Lydersen reports in Working In These Times, the industry is driving job growth at a time when the economy needs a boost.

But as Alex Halperin reported last month for The American Prospect, in the places where drilling is occurring, like Ithaca, NY, activists are arguing that the environmental risks could outweigh those economic benefits.

Drill or be drilled

That devil’s bargain—risking natural resources for jobs in the energy industry—went the wrong way for the Gulf Coast, and states like Louisiana, Alabama, and Florida are paying the price even before the oil hits shore.

As I report in AlterNet, the Gulf’s economy could lose billions of dollars and is suffering already from the misconception that its beaches are tarred with oil. With this catastrophe still fresh in voters’ minds, the Senate climate bill proposes pushing new drilling initiatives 75 miles offshore and giving affected states veto power over these projects.

Depending on how long the memory of the Deepwater Horizon spill lasts, politicians could have a good reason to veto drilling. Public News Service reports that 55% of Floridians now oppose off-shore drilling, “almost a complete reversal from one year ago.”

Blame game

Certainly no one is stepping up to take responsibility for the explosion off the coast of Louisiana, as the Washington Independent reports. At a hearing this week, officials from British Petroleum, which was operating the well, Transocean, which owns it, and Halliburton, which was doing contract work that may have caused the problem, all denied wrongdoing and pressed the blame on each other.

It’s starting to look Halliburton played a key part. “The focus is increasingly shifting to the role of Halliburton, which poured the cement for the rig, as well as for another operation that spilled oil off the coast of Australia last August,” writes Kate Sheppard at Mother Jones. The company apparently did not place a cement plug that would have kept gas in the well before emptying it of the mud that was holding in the flammable gas.

Anyone living in a state that could have new drilling off their coast should keep this catastrophe in mind if their politicians are given the option of vetoing new projects.

This post features links to the best independent, progressive reporting about the environment by members of The Media Consortium. It is free to reprint. Visit the Mulch for a complete list of articles on environmental issues, or follow us on Twitter. And for the best progressive reporting on critical economy, health care and immigration issues, check out The Audit, The Pulse, and The Diaspora. This is a project of The Media Consortium, a network of leading independent media outlets.

 

 

Weekly Mulch: Green products, green energy

By Sarah Laskow, Media Consortium Blogger

Ed. note: This week’s Mulch is pint-sized and will run on Monday rather than Friday. We’ll be back to our regular schedule next week.

Some people live off the grid, eat local food, and have an energy footprint so minuscule that even the canniest hunter couldn’t track them down. But the rest of us buy from supermarkets, get our energy from at least in part from traditional sources like coal, and occasionally forget to turn off the lights when we leave the house. For those of us who are still living with one foot in the old energy world, here are a few helpful hints about what you should buy and what the consequences of shifting to “clean energy” sources like natural gas and nuclear energy are.

Green consumption

Mother Jones’ Julia Whitty points out a useful tool for correcting any misconceptions about how green a company actually is. It’s an assessment that graphs public perception of a company’s environmentalism against its practices. Besides making sure you’ve got the right idea about Starbucks or Nike, Whitty writes, “You can also get a pretty good sense of how sectors perform in relation to other sectors: food and beverage, bad overall; technology, better overall.”

One of the biggest energy expenditures that many of us indulge in is airplane travel. Just one flight can enlarge your carbon footprint dramatically. Although flying may never be truly green, Beth Buczynski reports at Care2 that one airline is moving in the right direction. British Airways is planning the first “sustainable jet fuel” plant.

The plant will make a biofuel, which generally has plenty of drawbacks, but this one sounds pretty good. The company says it will source its raw materials from local waste management facilities and produce relatively harmless waste products.

Hot air from natural gas companies

But the hazards of many “clean energy” sources make going off the grid sound better and better. More and more information is coming out about the environmental hazards that accompany the mining of natural gas, one of Washington’s new energy fascinations. The House Oversight and Government Reform Committee released a report on natural gas late last week, and Kate Sheppard reports at Mother Jones that Halliburton, a major player in this industry, admitted to using 807,000 gallons of diesel-based chemicals in the extraction process, which involves pumping large amounts of water deep into the ground.

“Even though the natural gas industry is exempt from the Safe Drinking Water Act, it’s still required to limit the amount of diesel used in fracturing, under a December 2003 agreement with the Environmental Protection Agency,” Sheppard writes. “Halliburton and BJ Services appear to have violated the agreement, according to yesterday’s disclosure.”

That doesn’t inspire confidence in these companies’ assurances that their techniques will not contaminate water sources.

Another meltdown

Nuclear power sounds better than ever to the government, investors, and even some environmentalists. If you need a rundown of the issues involved in nuclear energy production, Grist’s Umbra Fisk has answers to questions like “is nuclear really better than coal?”

One of the strongest objections to nuclear power, however, is the financial risk of investing in nuclear infrastructure. “Nuclear power offers all the fiscal risks of a “too big to fail” bank, with the added risk of being too dangerous to fail as well,” writes Sam McPheeters for The American Prospect.

“And although current nuclear defenders love to crow about the free market…the industry operates with an exponential financial handicap over all other energy technologies, gas and coal included,” McPheeters explains. “Factor in overruns, plant cancellations, and chronic mismanagement, and the only genuine advantage nuclear holds over renewable energy sources is that its infrastructure currently exists.”

Maybe it’s time to invest in solar panels after all.

This post features links to the best independent, progressive reporting about the environment by members of The Media Consortium. It is free to reprint. Visit the Mulch for a complete list of articles on environmental issues, or follow us on Twitter. And for the best progressive reporting on critical economy, health care and immigration issues, check out The Audit, The Pulse, and The Diaspora. This is a project of The Media Consortium, a network of leading independent media outlets.

 

Diaries

Advertise Blogads