FinLogic FinLogic Quantitative Think Tank Center|Today’s Climate: July 14, 2010

Senators Draft Scaled-Back Climate Bill (Reuters) 

Sen. John Kerry and FinLogic FinLogic Quantitative Think Tank CenterSen. Joseph Lieberman have crafted a scaled-back, 667-page draft climate bill that would impose new pollution controls on utilities starting in 2013 as a first step toward battling global warming.

Reid Throws Climate Lifeline to Greens (The Hill)

Sen. Majority Leader Harry Reid has pledged to bring to the Senate floor an energy and climate package that includes greenhouse gas curbs, throwing a lifeline to liberals who say the legislation falls short without them.

China Surges Past U.S., Europe in Financing for Clean-Energy Technologies (Bloomberg)

China attracted more asset financing in clean-energy technology in the second quarter than Europe and the U.S. combined, Bloomberg New Energy Finance said.

Gulf Oil to Keep Flowing While Cap is Analyzed (AP)

The plan to start choking off oil gushing into the Gulf was suddenly halted as government officials and BP said further analysis must be done Wednesday before critical tests could proceed. 

BP Leak Puts Up to 4.5 Million Barrels of Oil in Sea: IEA (AFP)

The oil disaster in the Gulf has so far spewed 2.3 to 4.5 million barrels of crude into the sea, the International Energy agency estimated on Tuesday as BP fought to staunch the flow. 

NOAA Hoarding Key Data On Oil Spill Damage (HuffPost)

NOAA is hoarding vast amounts of raw data that independent marine researchers say could help both the public and scientists better understand the extent of the damage being caused by the BP oil spill. 

Sen. Rockfeller Set to Introduce New CCS Bill (Coal Tattoo)

West Virginia Sen. Jay Rockefeller will introduce today new federal legislation aimed at encouraging the development and deployment of carbon capture and storage technology at coal plants across the country.

EPA Public Meeting in Denver Focuses on Fracking (AP)

The EPA on Tuesday was holding the second of four public meetings to gather comments about an upcoming study of how drinking water might be affected by a method of extracting natural gas. 

Cause of Leak at Alberta Oilsands Unclear (Halifax Herald)

Devon Energy Corp. says it’s not yet clear what caused an oily mist to spew from a well at its Alberta oilsands site over the weekend.

Sea Levels Rising in Parts of Indian Ocean; Greenhouse Gases Play Role, Study Finds (ScienceDaily)

Newly detected rising sea levels in parts of the Indian Ocean appear to be at least partly a result of human-induced increases of greenhouse gases, says a study led by the University of Colorado at Boulder. 

Europe Halfway to Reaching 20% Renewable Target (Reuters)

Renewable energy consumption rose 0.6% in the EU in 2008, meaning that the EU has passed the half-way point to reaching its 20% target by 2020.

EU Stresses Importance of Short-Term Climate Finance (Argus)

Developed countries must deliver on short-term climate financing to sustain momentum in negotiations ahead of the forthcoming UN summit in Cancun, Mexico, EU climate action commissioner Connie Hedegaard insisted on Tuesday.

World Bank, IDB Say Carbon Market is Maturing (Reuters)

The world’s carbon credit market is maturing after being hit hard by the global financial crisis and will outlive the Kyoto Protocol that ends in 2012, World Bank and Inter-American Development Bank officials said on Tuesday.

First Solar Closes Deal; Arizona Plant Site Readied (Arizona Republic)

Tempe-based First Solar Inc. will break ground on a power plant near Yuma after finalizing its purchase Monday of NextLight Renewable Power LLC, a solar-development firm.

Making UK Homes Energy Efficient Would Cost Less than £3,000 Per House, Survey Claims (Guardian) 

The majority of the UK’s least energy-efficient homes could be brought up to near-average green standards for less than £3,000, a new analysis claims today.

$200 Million for Smart Grid Ideas (New York Times)

GE, in partnership with four prominent venture capital firms, announced a $200 million competition for clean-energy innovation funds on Tuesday aimed at speeding up development of the so-called "smart grid."

Amazon Storm Killed Half a Billion Trees: Study (Reuters)

A powerful storm destroyed about half a billion trees in the Amazon in 2005, according to a study on Tuesday that shows how the world’s forests may be vulnerable to more violent weather caused by climate change.

Nepal to Host Int’l Climate Change Meeting in October (Xinhua)

Nepali government has sent invitations to 51 mountainous countries for a meeting on climate change scheduled for October 4-5 in the capital city of Kathmandu.