Congressional Budget Office assesses carbon tax economic costs and benefits
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24 May 2013
By Kennedy Maize
May 24, 2013 – A federal carbon tax could raise large amounts of money for the government, while reducing emissions. But a carbon tax also would raise prices for many goods and services that “would have a negative effect on the economy,” says the Congressional Budget Office in a recent report. The report also examined ways to mitigate the tax's \negative effects.
How to replace Indian Point? How about Indian Point, says Entergy
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23 May 2013
As part of New York Gov. Andrew Cuomo’s examination of what might happen if the Indian Point nuclear plant near New York City were to close, which many of his supporters would like to see, the New York Power Authority recently asked for proposals on replacing the plant’s two nuclear units. Their licenses run out this year and in 2015 and anti-nuclear forces in the state want the licenses to expire and the plant closed. Entergy Nuclear, Indian Point’s owner, responded to NYPA’s request with a simple solution: Indian Point. Entergy says it expects the US Nuclear Regulatory Commission will approve its plan to extend the plant licenses for 20 years. NYPA is seeking 1,350 MW. Entergy says Indian Point would provide 1,375 MW. Sounds like a plan?
Guess who’s bidding to replace Indian Point nuke?
Tesla repays US loan nine years early
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24 May 2013
Elon Musk, the youthful PayPal patriarch, had a payback to Uncle Sam this week. Having raised $1 billion in debt and equity for his Tesla Motors venture in recent weeks, Musk wired $452 million to the US Treasury Wednesday, full payment of principal and interest on its 2010 Department of Energy loan, nine years ahead of schedule. That loan, by the way, was initiated by George W. Bush’s Department of Energy. Some commentators likened Musk’s move to what Lee Iacocca did at Chrysler 30 years ago, paying back well ahead of schedule a federal loan that kept the company from sinking into the mists of business history. But, writing in Slate, Will Oremus said, “From what I know of Musk, it might be more accurate to say he’s one-upping Iacocca, paying back his loan nine years early to Iacocca’s seven.”
Here’s the Tesla good news story.
House bill would fix a long-standing energy-vs.-environment Catch-22
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23 May 2013
The US House of Representatives this week passed by voice vote legislation designed to fix a regulatory Catch-22 that can occur when a power plant operator violates air emissions limits as a result of an order from the US Department of Energy to keep the plant running for reliability of the grid. The measure had bipartisan support, including that of Rep. Henry Waxman (D-Calif.), ranking Democrat on the House Energy and Commerce Committee. The most famous incident that led to the legislation occurred in 2005, when DOE ordered Mirant to keep a coal-fired plant in Alexandria, Va., running to provide grid stability to Washington, D.C., across the Potomac River. The company was then fined by the US Environmental Protection Agency for violating its air permit. The House measure now moves to the Senate and is expected to pass.
Here’s the story on the House bill’s Catch-22 fix.
