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SMALL BUSINESS
Oil and Energy
Can Dubai's energy reserves pay off its $80 billion in debt?
The Dubai debt default seems to have inspired a bit of fear in the U.S. But is there any real reason for it? U.S. banks have minimal exposure to Dubai's debts -- most of the banks that would suffer if Dubai defaulted are located in the Middle East. Nevertheless, U.S. markets fell 1.7% Friday during a holiday-shortened trading day -- after futures suggested the market would be down 2.7%. But if Dubai's oil reserves exceed its debts, it could sell oil to repay them.
The extent of Dubai's energy reserves is in dispute. The New...
Entering the nuclear age? A utilities CEO wants federal control on energy
Will the federal government ever take more control of the nation's energy policy? At the Carbon Economy conference in Washington in mid-November, Duke Energy (DUK) CEO Jim Rogers stole the show when he broached that idea.Today, each state has tremendous power to manage its own energy needs; governors and state public utility commissioners decide how much electricity is generated, from which sources -- renewable or traditional fossil-fuel -- and how much the electricity will cost. And renewable portfolio standards, which mandate that more electricity come from renewable-energy sources, have been entirely state-run initiatives.
Why China can't make bold carbon pledges: Rogue provinces
During his recent visit to China, U.S. President Barack Obama pushed hard for a firm target for cutting carbon emissions from the Chinese government. He had hoped to secure a concrete, detailed proposal from the world's largest emitter of greenhouse gases ahead of the pending Copenhagen Climate Summit in December. But China has delivered a watered-down guarantee that the Obama team publicly praised but privately trashed. According to The New York Times, the Chinese proposed to reduce the amount of carbon dioxide emitted per unit of economic output by 40% to 45% by 2020. That would slow the growth rate of carbon emissions...
China's $9 trillion global warming problem
If Chinese premier Hu Jintao had any doubts about taking an aggressive stance to enforce carbon-emission reductions at the upcoming Copenhagen Climate Summit, a report today may push him over the edge. A detailed analysis of the potential economic impacts of rapid global warming, put together by insurance-industry experts and underwritten by the World Wildlife Fund and insurance giant Allianz, found that China stands...
Green Turismo: To save the Earth and save gas, turn cars into video games
My friend has a Tesla Roadster. For those who are unfamiliar with Tesla Motors, the Roadster is the Ferrari of the electric-vehicle world, a high-performance two-seater with more sex appeal than Mae West. How ironic, then, that my friend pines for her old Honda Insight, a dinky little hybrid that has been a commercial failure but remains a cult favorite among the green car set. Why would any sane, hedonistic California resident wish their Ferrari were a Chevy Chevette? Because the Insight had a wonderful feature that told her how efficiently she was driving. That feature was a light on her dash that glowed green when she was driving smoothly, braking gradually, and accelerating...
California bans power-hog TVs. Will the rest of the country follow?
Yet again the Golden State has set a de facto national environmental policy. It came this time when officials moved on Nov. 18 to ban sales of all big-screen TVs in California after 2010 if the sets don't meet state energy efficiency requirements. The ban has been brewing for several months now as the California Energy Commission (CEC) has debated a mandate that would require a 33% improvement in energy efficiency for all TVs sold starting Jan. 1, 2011, and a 50% improvement for sets sold starting Jan. 1, 2013. ...
Turning dirty diapers into . . . bicycle helmets?
Consider the disposable diaper. It's part engineering marvel, a mechanism that takes one of the most foul side effects of parenthood and absorbs it into a small, manageable, plastic-wrapped package. But it's also part environmental catastrophe. The average baby makes nearly 6,000 diapers dirty before becoming bathroom-trained. Waste watchers estimate that 27.4 billion disposable diapers are discarded each year in the U.S., adding as much as 3.4 million tons to dumps annually.
And that's not all. Each disposable diaper contains plastics and, in many cases, toxic chemical residues that show up in paper products, such as the chlorine used to make those diapers lily white.
Burma's oil-rich generals can afford to ignore Obama on Suu Kyi
President Barack Obama is trumpeting the stern criticism he gave the military generals who hold dominion over Burma, the resource-rich South Asian nation now known as Myanmar, at a meeting of Asian leaders on Sunday.The Burmese junta is one of the most loathed regimes in the world -- a posse of paranoid, megalomaniacal cadres who kill, torture and repress their people with impunity. A throwback to the 20th century's failed Marxist revolutionary movements, the junta relies on Burma's vast resource wealth to maintain its grip on power.
And it is precisely that wealth -- which the generals capitalize...
NRG Energy sees the (green) light, buys Bluewater Wind
NRG Energy (NRG) a $3 billion company with 24,000 megawatts of coal, natural gas, nuclear and solar power plants in its portfolio, has acquired Bluewater Wind, based in Hoboken, N.J., for cash on hand. The deal, announced in a press conference last Monday with Drew Murphy, NRG's Northeast regional president and Bluewater Wind President and CEO Peter Mandelstam, marks the end of a long, strange saga. The two companies, once rivals, engaged in a bitter competition to provide energy to Delaware. Now they will operate in conjunction under NRG's large, well-financed roof. The background...
Solar glut is temporary, demand to catch up by 2012
The oversupply problem plaguing the solar panel industry may be coming to a close. A glut of panels caused prices to plunge this year, calling into question the future of the industry, as well as the individual fortunes of manufacturers. An increase in demand from Germany is helping to consume the excess inventory on the market, according to a new report by research firm iSuppli, which should provide some support to the manufacturers.
Close to half of all solar panels manufactured this year will not be sold in 2009, iSuppli says, and it forecasts that the glut will continue until 2012. In August,...
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