Obama on climate change: "We need to act"

WASHINGTON (AP) - President Barack Obama declared the debate over climate change and its causes obsolete Tuesday as he announced a wide-ranging plan to tackle pollution and prepare communities for global warming.

In a major speech at Georgetown University, Obama warned Americans of the deep and disastrous effects of climate change, urging them to take action before it's too late.

"As a president, as a father and as an American, I'm here to say we need to act," Obama said.

Obama announced he was directing his administration to launch the first-ever federal regulations on heat-trapping gases emitted by new and existing power plants - "to put an end to the limitless dumping of carbon pollution."

Other aspects of the plan will boost renewable energy production on federal lands, increase efficiency standards and prepare communities to deal with higher temperatures.

Even before Obama unveiled his plan Tuesday, Republican critics in Congress were lambasting it as a job-killer that would threaten the economic recovery. Obama dismissed those critics, noting the same arguments have been used in the past when the U.S. has taken other steps to protect the environment.

Continue Reading...

http://www.salon.com/2013/06/25/obama_on_climate_change_we_need_to_act

Carbon Bubble Will Plunge the World Into Another Financial Crisis - Report

Trillions of dollars at risk as stock markets inflate value of fossil fuels that may have to remain buried forever, experts warn.

ezioman/Flickr

The world could be heading for a major economic crisis as stock markets inflate an investment bubble in fossil fuels to the tune of trillions of dollars, according to leading economists.

"The financial crisis has shown what happens when risks accumulate unnoticed," said Lord (Nicholas) Stern, a professor at the London School of Economics. He said the risk was "very big indeed" and that almost all investors and regulators were failing to address it.

The so-called "carbon bubble" is the result of an over-valuation of oil, coal and gas reserves held by fossil fuel companies. According to a report published on Friday, at least two-thirds of these reserves will have to remain underground if the world is to meet existing internationally agreed targets to avoid the threshold for "dangerous" climate change. If the agreements hold, these reserves will be in effect unburnable and so worthless - leading to massive market losses. But the stock markets are betting on countries' inaction on climate change.

To keep reading, click here.

http://climatedesk.org/2013/04/carbon-bubble-will-plunge-the-world-int

EPA hopes to tighten emissions standards on cars

WASHINGTON (AP) - The Obama administration will unveil a proposal Friday to clean up gasoline and automobile emissions, a step that officials say will result in cleaner air across the U.S. and slightly higher prices at the pump.

The Environmental Protection Agency estimates that the rule to reduce sulfur in gasoline and tighten emissions standards on cars beginning in 2017 could increase gas prices by less than a penny per gallon and add $130 to the cost of a vehicle in 2025.

But the agency says it will yield billions of dollars in health benefits by slashing smog- and soot-forming pollution come 2030.

The oil industry, Republicans and some Democrats had pressed the EPA to delay the rule, citing higher costs. An oil industry study says the rule could increase gasoline prices by 6 to 9 cents per gallon.

The so-called Tier 3 standards would reduce sulfur in gasoline by more than 60 percent and reduce nitrogen oxides by 80 percent, by expanding across the country a standard already in place in California. For states, the regulation will make it easier to comply with health-based standards for the main ingredient in smog and soot. For automakers, the regulation allows them to sell the same autos in all 50 states.

Continue Reading...

http://www.salon.com/2013/03/29/epa_hopes_to_tighten_emissions_standar

Secret Funding Helped Build Vast Network of Climate Denial Thinktanks

Anonymous billionaires donated $120m to more than 100 anti-climate groups working to discredit climate change science.

World of Good/Flickr

Conservative billionaires used a secretive funding route to channel nearly $120m (£77m) to more than 100 groups casting doubt about the science behind climate change, the Guardian has learned.

The funds, doled out between 2002 and 2010, helped build a vast network of thinktanks and activist groups working to a single purpose: to redefine climate change from neutral scientific fact to a highly polarising "wedge issue" for hardcore conservatives.

The millions were routed through two trusts, Donors Trust and the Donors Capital Fund, operating out of a generic town house in the northern Virginia suburbs of Washington DC. Donors Capital caters to those making donations of $1m or more.

Whitney Ball, chief executive of the Donors Trust told the Guardian that her organisation assured wealthy donors that their funds would never by diverted to liberal causes.

To keep reading, click here.

http://climatedesk.org/2013/02/secret-funding-helped-build-vast-networ