I used to have a brown dog--a chocolate labrador retriever, but that is not what I am talking about today. Now "Brown Dog" refers to about a dozen Democratic Senators who are balking at a climate bill before the November elections--in particular what a carbon cap would do to utility costs for their low-income residents. Today's Politico article notes that none of the Democratic "fence sitters" are even up for election this year, but have grave concerns about what impact an emissions cap or carbon tax might have on their local economies. Harry Reid, as described in the Washington Post article that follows, is looking to broker some sort of compromise with an alternative bill the week after next.
Interesting spin also in the in the CNN and Christian Science Monitor articles on the US EV battery business. Is the US government over-investing in too many battery plants such that when they all come on line, they will flood the market with batteries? By that time, will there still be federal money available to keep them all alive? Another set of unintended consequences when the government tries to tinker with business. I am also amused that Obama made a visit to a battery plant that received over $150 million in federal grant money, but is owned by LG Chem, a Korean company. Yes, there will be US jobs created in Michigan, but in this case, any profits will be headed out of the country. Do we really "catch up" in the battery technology race when we are only subsidizing our Asian competitors?
TRADITIONAL ENERGY
Natural Gas Outlook: Storage is 10.7% Above Five Year Average http://www.cattlenetwork.com/Natural-Gas-Outlook--Working-Gas-Storage-10-7--Above-5-Year-Average/2010-07-15/article_babycalfhealth.aspx?oid=1160536&fid=VAN_Tronix_Reports
BLM to Begin Decisions on Backlogged Wyoming Oil and Gas Leases http://www.google.com/hostednews/ap/article/ALeqM5js1V3ivAl-XHNGURo5IfIVXBf2qgD9GVPTVG0
ALTERNATIVE ENERGY
Obama Sees EV Battery Prices Down by 70%: LG Chem Forecasts 50% Decrease by 2015 http://www.reuters.com/article/idUSN1521310320100715
EV Project Expands to Texas http://www.marketwatch.com/story/the-ev-project-expands-to-texas-2010-07-15?reflink=MW_news_stmp
Is the US Battery Business for Real? http://money.cnn.com/2010/07/15/news/economy/obama_batteries/
Why is Obama Putting so Much Stock in Battery Technology? http://www.csmonitor.com/USA/2010/0715/Why-Obama-is-putting-so-much-stock-in-battery-technology
ENERGY POLICY
Ethanol Group Backs Phase Out of Subsidies if Money is Used to Install Blender Pumps for E85 http://www.reuters.com/article/idUSN1521158720100715
"Brown Dogs" Complicate Climate Plan http://www.politico.com/news/stories/0710/39830.html
Reid to Offer an Energy Bill the Week of July 26 http://www.washingtonpost.com/wp-dyn/content/article/2010/07/15/AR2010071505891.html
COMPANY NEWS
Salares and Talison Announce Merger and CAD$40 Million Private Placement http://www.marketwire.com/press-release-canada/Salares-Lithium-Talison-Announce-Merger-Create-Worlds-Largest-Lithium-Production-Company-TSX-VENTURE-LIT-1290982.htm
BP Buying out Verenium Biofuels Business for $98 Million http://blogs.forbes.com/energysource/2010/07/15/bp-verenium-biofuel-ethanol/
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