Arctic Melts As Banks Invest Billions in Coal

03/10/200703/10/2007 Stephen CLIMATE CHANGE/GLOBAL WARMING, Energy, ENVIRONMENT , arctic ocean, bank of america, citi, coal

By Stephen Leahy

Credit:Ed Brown

Coal-fired power plant in central Virginia, U.S.

Oct 2 (IPS) – As global warming melts the Arctic, the United States’s biggest banks are investing billions of dollars in as many as 150 new coal-fired power plants around the country.

The obvious climatic and fiscal stupidity of such investments is staggering, say environmentalists.

“What are they (the banks) thinking?” asked Leslie Lowe, energy and environment programme director at the Interfaith Centre on Corporate Responsibility.

Carbon regulations are coming, and profiting from the destruction of nature and communities is immoral in any case, Lowe told IPS at a press conference. Carbon regulations are coming, and profiting from the destruction of nature and communities is immoral in any case, Lowe told IPS at a press conference.

“It is folly to build new coal-fired plants,” she said. Continue reading →

Pres. Bush: The Skunk at His Own Garden Party

02/10/2007 Stephen CLIMATE CHANGE/GLOBAL WARMING, ECOLOGY, economics, Energy, News

By Stephen Leahy

Credit:White House Photo/Chris Greenberg

President George W. Bush addresses the Major Economies Meeting on Energy Security and Climate Change on Sep. 28, 2007.

Sep 29 (IPS) – After years of denial, the U.S. White House-sponsored summit on climate change ended Friday with President George W. Bush admitting that global warming was real and humans were responsible and asking for heads of state to join him at yet another summit next year (when his presidency ends).

It’s doubtful if anyone of consequence will attend that future gab-fest since President Bush continues to push voluntary cuts to greenhouse gas emissions when the rest of the world, including much of the business sector, has already said that approach simply doesn’t work.

“President Bush has so little credibility on climate change,” said Chris Flavin, president of the Worldwatch Institute, a U.S.-based environmental group. Continue reading →

GW Desperation Drives Slightly Mad Ideas

01/10/2007 Stephen CLIMATE CHANGE/GLOBAL WARMING, ECOLOGY, Energy, ENVIRONMENT, News, Science arctic ice, ccs, gaia, lovelock, planktos, sequestration

Climate Change: Time For Some Slightly Mad Ideas?
By Stephen Leahy

Sep 28 (IPS) – Lack of governmental action on climate change is forcing scientists to consider radical climate geo-engineering schemes such as giant vertical pipes in the ocean and growing vast blooms of plankton to try and prevent the worst from happening.

Companies backing some of these schemes hope to profit from the rising public clamour for action and politicians desperate to avoid serious reductions in greenhouse gas emissions.

“I wasn’t in favour of geo-engineering before, but we haven’t done well in reducing emissions,” said Chris Rapley, director of the Science Museum in London and former head of the British Antarctic Survey.

In fact, the global community continues on the “business as usual” path in terms of emissions of greenhouse gases (GHGs), thus increasing the chances of catastrophic climate change, Rapley, a climate change expert, told IPS.

“Just look at how incredibly quick the Arctic sea ice is melting,” he said. Continue reading →