.

Ever volatile fuel prices, security of supply, renewable energy cost reductions and environmental-climate concerns are dramatically accelerating the demand for greener alternatives.

It has become a global imperative that we break our addiction to fossil fuels. Providing for the ever increasing energy and transportation needs of the planet is going to take a wide range of alternative energy sources, cleaner fuels, the smart grid and advanced storage solutions.

These technologies are finally establishing themselves in the energy mix and becoming mainstream .....an emerging multi trillion dollar market rapidly becoming one of the most significant industrial sectors this century. The future is bright for renewable energy sources and a greener sustainable world.

Archives

01 Jan - 31 Jan 2019
01 Jul - 31 Jul 2011
01 May - 31 May 2011
01 Mar - 31 Mar 2011
01 Feb - 28 Feb 2011
01 Jan - 31 Jan 2011
01 Dec - 31 Dec 2010
01 Oct - 31 Oct 2010
01 Sep - 30 Sep 2010
01 Aug - 31 Aug 2010
01 Jul - 31 Jul 2010
01 Jun - 30 Jun 2010
01 May - 31 May 2010
01 Apr - 30 Apr 2010
01 Mar - 31 Mar 2010
01 Feb - 28 Feb 2010
01 Dec - 31 Dec 2009
01 Nov - 30 Nov 2009
01 Oct - 31 Oct 2009
01 Sep - 30 Sep 2009
01 Aug - 31 Aug 2009
01 Jul - 31 Jul 2009
01 Jun - 30 Jun 2009
01 May - 31 May 2009
01 Apr - 30 Apr 2009
01 Mar - 31 Mar 2009
01 Feb - 28 Feb 2009
01 Jan - 31 Jan 2009
01 Dec - 31 Dec 2008
01 Oct - 31 Oct 2008
01 Sep - 30 Sep 2008
01 Aug - 31 Aug 2008
01 Jul - 31 Jul 2008
01 Jun - 30 Jun 2008
01 May - 31 May 2008
01 Apr - 30 Apr 2008
01 Mar - 31 Mar 2008
01 Feb - 28 Feb 2008
01 Jan - 31 Jan 2008
01 Dec - 31 Dec 2007
01 Nov - 30 Nov 2007
01 Oct - 31 Oct 2007
01 Sep - 30 Sep 2007
01 Aug - 31 Aug 2007







Links

Daily Alternative Energy News Updates
Recent Videos

Alternative Energy Sizing Calculators

Tag Key Word News Search

Article Archives

Last Comments


weblog_text - RSS-XML - ()

XML: RSS Feed 
XML: Atom Feed 

« Low-income women lear… | Home | Bridging the gap betw… »

BP oil spill: with escrow plan, Obama races to claim BP's money

14 06 10 - 12:57 By Mark Sappenfield


The Obama administration's management of the BP oil spill cleanup now appears to be a race for money.

Reports Sunday indicate that President Obama will direct BP to set up an escrow account from which damage claims by individuals and businesses along the Gulf Coast will be paid. If BP refuses, Mr. Obama is prepared to argue that he has the legal authority to force BP's hand, the reports suggest.

The move comes as BP considers whether to pay dividends to its shareholders. Members of Congress including House Speaker Nancy Pelosi have demanded that BP refrain from paying dividends to shareholders at a time when BP has enormous and open-ended financial obligations in the Gulf. In Britain, however, the dividend payments are a large reason why BP's stock is seen as being so desirable. To delay dividend payments at a time when BP stock has already lost some 40 percent of its value would cast the company into even greater uncertainty.

Taking control

Obama, however, has few options available to him if he wants to take greater control of the BP oil spill fallout. The federal government has been largely a spectator of the sea floor, where BP bots and oil-industry engineers are better equipped to deal with the leak.

Meanwhile, along the Gulf Coast, the slick has become so large and fragmented that it has often confounded the federal government's efforts to deploy BP and its armada of oil-fighting contractors more quickly and efficiently.

That leaves the administration seeking at least to hold BP to its word that it will pay all legitimate claims. The escrow account appears to be an insurance policy.

The account would be managed by a third party in order to avoid claims that the government was taking advantage BP or BP was being negligent in its payments.

Pitching the plan to BP

Obama will reportedly discuss the idea with the chairman of the BP board, Carl-Henric Svanberg, when they meet Wednesday. Obama will be in the Gulf Monday and Tuesday and will give his first prime time address to the nation about the oil spill Tuesday night.

The proposed escrow account comes two days after the administration issued another ultimatum to BP. In a letter to BP, Coast Guard Rear Adm. James Watson gave BP until Sunday night to come up with an improved plan for collecting leaking oil at the well.

BP's current plan involves bringing in two pairs of ships that together can collect 2.1 million gallons of oil a day, but they will not arrive at the scene until mid-July. BP is now collecting about 650,000 gallons a day, though an indeterminate and seemingly large volume of oil is still escaping.

Whether or not BP responds, the letter, the escrow account, and the prime time address suggest that the federal government is tightening the screws on BP. Used tags: , , , , ,

Trackback link:

Please enable javascript to generate a trackback url






 

weblog_text - more - ()

Bridging the gap between the Smart Grid green energy program and home appliances

Thursday 24 June 2010 at 11:51 am By Dave Porter



Reno - Axial Vector Energy Corp. (OTC: AXVC) may be one of the first green energy companies to have bridged the gap between the $3.4 billion smart grid energy program announced by the U.S. Department of Energy and home appliances when the Company unveiled its product which controls individual home appliances more efficiently using Bluetooth technology. more

BP oil spill: with escrow plan, Obama races to claim BP's money

Monday 14 June 2010 at 12:57 pm By Mark Sappenfield


The Obama administration's management of the BP oil spill cleanup now appears to be a race for money.

Reports Sunday indicate that President Obama will direct BP to set up an escrow account from which damage claims by individuals and businesses along the Gulf Coast will be paid. If BP refuses, Mr. Obama is prepared to argue that he has the legal authority to force BP's hand, the reports suggest.

The move comes as BP considers whether to pay dividends to its shareholders. Members of Congress including House Speaker Nancy Pelosi have demanded that BP refrain from paying dividends to shareholders at a time when BP has enormous and open-ended financial obligations in the Gulf. more