Capital Energy: On the hook for the Passaic; NY comes 4th

April 14, 2014 by  
Filed under Wind Energy Tips

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AN EXPENSIVE PROPOSITION: The Environmental Protection Agency is pushing for the most expensive cleanup ever to take place on the lower part of the Passaic River, which eventually feeds into the New York harbor. The $1.7 billion project will remove 4.3 million cubic yards of highly contaminated sediment from eight miles of the river. A century of industrial activity in the Passaic has left dioxin, PCBs, heavy metals, pesticides and other contaminants in the river. The agreement is still contingent on reaching agreements with private companies responsible for the pollution, so that taxpayers don’t have to foot the bill. Precedent suggests companies will have to fight this in court if they are unwilling to pay for the cleanup. 

WE’RE NUMBER 4! New York City came in fourth in Energy Star’s ranking of cities with the most Energy Star certified buildings. We came in behind Los Angeles, D.C. and Atlanta. Thankfully we beat out Chicago (6th) and Philly (9th). The energy efficient buildings generated $1.3 billion in savings nationally and spared 7.3 million metric tons of greenhouse gas emissions.

TEXAS CRUDE PRICES RISE WITH CONSUMER CONFIDENCE: Bloomberg’s Moming Zhou reports that West Texas Intermediate crude rose to a five-week high with a spike in the consumer confidence as reported on the Thomson Reuters/University of Michigan index. Consumer confidence is up 2.6 points to 82.6, the highest level since July. WTI for May delivery was up 34 cents (0.3 percent) to $103.74 a barrel on the New York Mercantile Exchange. “As the economy grows, oil demand will grow,” Tom Finlon, Jupiter, Florida-based director of Energy Analytics Group LLC tells Bloomberg. “One of the most supportive things you can say about crude is the strong gasoline demand.”

U.N. URGES MORE INVESTMENT IN NUCLEAR, RENEWABLES: Scientists for the United Nations said the world needs to triple the amount of energy it gets from renewables, nuclear power and emissions capture technology to avoid dangerous levels of greenhouse gases in the atmosphere and and curb rising temperatures, Bloomberg reports. “The longer we wait to implement climate policy, the more risky the options we’ll have to take,” said Ottmar Edenhofer, a co-chair of the 235 scientists who drafted the U.N. report. “We need to depart from business as usual, and this departure is a huge technological and institutional challenge.” The recommendation promises to further complicate New York’s debate on fracking and closing Indian Point.

DE BLASIO TO ANNOUNCE RECOVERY OVERHAUL: Mayor Bill De Blasio will announce a “major overhaul” this week in how the city manages billions of dollars in federal Hurricane Sandy recovery dollars this week. On his 100th day in office the New York League of Conservation Voters and gaggle of environmentalists urged de Blasio to adopt a sustainable “action plan” to limit greenhouse gas emissions. Environmentalists will be watching to see if the overhaul includes any of their recommended measures.

NUMBER OF THE DAY: $1.3 billion — that is the amount of money ConEd is spending on prepping the grid in NYC and Westchester for what many expect to be another record-breaking summer. That’s in addition to the $1 billion the utility is spending on Sandy recovery and mitigation.

GLOBAL CRUDE SUPPLIES FELL IN MARCH, the OilGas Journal reports, mostly because of decreased production in Iraq, Saudi Arabia and Libya.

THE HARSH WINTER WEATHER also depressed crude production in North Dakota’s Bakken formation, Natural Gas Intelligence reports.

FRACK CHINA: The first commercially viable shale gas well in China has created a boomtown, as well as a mysterious fireball in the sky that may have killed a number of workers, The New York Times’ Keith Bradsher reports. Outsiders are not allowed in and the government claims nothing even happened, but residents say otherwise.

SAY ANYTHING: The resignation of the state health commissioner is the perfect time for Gov. Andrew Cuomo to come clean about why the state is taking so long with its fracking decision, the Poughkeepsie Journal edit board says.

NUMBER OF THE DAY, PART II: $35.4 billion. That’s how much Russia “magically” claims Ukraine owes it for gas, up from $1.7 billion at the beginning of the month, from the Associated Press.

CONSERVATION GROUP RATES DELEGATION: The Defenders of Wildlife Action Fund issued its congressional report card on conservation Friday. Senators Chuck Schumer and Kristen Gillibrand scored 100 percent on four key votes: Funding restoration and enhancement of natural systems to Build resilience, endorsing Construction of the Keystone XL Pipeline, undermining enforcement of the Clean Water act, Damaging Borderland Wildlife and Habitat. Most members of the House delegation scored high marks as well on a series of bills. Representatives Peter King, Mike Grimm, Christopher Gibson, Tom Reed, Chris Collins and Bill Owens all failed. Carolyn McCarthy received an incomplete.

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NUKE SHUTDOWN WILL SQUEEZE GRID: A shutdown of the nuclear and coal-burning power plants will make the grid far more unreliable, industry representatives claimed in Capital Hill testimony last week, EE reports. This harsh winter demonstrated why that could be a significant problem.

MORE CLEAN = MORE GREEN:Anticipating a major push toward renewable energy in the upcoming report from the Intergovernmental Panel on Climate Change, the Climate Group–an international nonprofit coalition of business and government leaders–predicts that the clean tech industry will be a $5 trillion concern by the mid 2020’s. The group values the current industry at $2.56 trillion.

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