Berkshire Hathaway Inc’s energy unit said on Thursday it will buy AltaLink, Canada’s regulated electricity transmission company, from SNC-Lavalin Group Inc for about $2.9 billion in cash. AltaLink will operate as a separate company under Berkshire Hathaway Energy with its current name and will continue to be headquartered in Calgary, the two companies said in separate statements.
Shifting the global economy from its long dependence on fossil fuels will not follow a smooth trajectory where corporations, financial markets and other stakeholders systematically and logically adjust to new realities, regulations and economic pressures. Rather, it will be the kind of “chaotic, messy, ugly and effective” transformation that characterized almost all past market upheavals, author and climate activist Paul Gilding told several hundred climate-conscious investors gathered here this week.
Former EPA senior policy counsel Sussman discusses agency’s challenges to meeting existing source rule deadline
With recent budget and personnel changes at U.S. EPA, does the agency have adequate resources in place to meet President Obama’s aggressive Climate Action Plan deadlines? During today’s OnPoint, Robert Sussman, former senior policy counsel at EPA, discusses the future of the existing source standard and subsequent state planning. Sussman also explains how this week’s Supreme Court ruling on EPA’s Cross-State Air Pollution Rule could foreshadow the court’s future consideration of Clean Air Act cases.
President Obama announced his intention last night to renominate Democrat Cheryl LaFleur to another five years on the Federal Energy Regulatory Commission, pleasing lawmakers on both sides of the aisle. LaFleur, once rumored to be a potential presidential pick to lead the agency, has been serving as acting chairwoman since former FERC Chairman Jon Wellinghoff officially stepped down last year. Her term was slated to expire next month.
In a New York Times op-ed published today, Bloomberg and Environmental Defense Fund President Fred Krupp staked out a middle ground on fracking that emphasizes “strong rules and enforcement” in order to mitigate legitimate local resistance to a fossil fuel extraction method that “is indeed lowering energy costs, creating new jobs, boosting domestic manufacturing and delivering some measurable environmental benefits.” In his own October column on the topic, Steyer called for tabling any discussion about fracking’s emissions upside until oil and gas producers begin “paying their fair share” in taxes and royalties.
A leading bird conservation group has notified the Obama administration that it intends to sue over a rule for renewable energy projects that would permit injuring, killing or disturbing bald eagles for up to 30 years. The American Bird Conservancy (ABC) today sent a notice of intent to sue to Interior Secretary Sally Jewell and Fish and Wildlife Service Director Dan Ashe saying the group plans to take legal action against the Interior Department and FWS over the revised eagle “take” rule announced in December 2013 and implemented earlier this year.
Berkshire Hathaway Inc’s energy unit has changed its name to Berkshire Hathaway Energy from MidAmerican Energy Holdings Co, the largest of a growing list of businesses to adopt the name of the company run by billionaire Warren Buffett. The change “reflects the benefits we gain from Berkshire Hathaway’s ownership, particularly our ability to reinvest in our businesses and take a long-term view of our customers’ needs,” Greg Abel, the unit’s chief executive, said in a statement on Wednesday. MidAmerican’s new name also reflects a recent trend in which the company Buffett took over in 1965, when it was a failing textile maker, sees its name planted on an array of units.
Washington Gov. Jay Inslee announced plans yesterday to cap the state’s greenhouse gas emissions while eliminating the use of coal and expanding cleaner cars and energy efficiency programs. An executive order signed by Inslee, a Democrat, creates the Carbon Emissions Reduction Taskforce to design a “cap and market” program to help Washington cut its emissions by 2020, 2035 and 2050. The panel of 21 people is instructed to provide its recommendations to Inslee by November. “This is the right time to act, the right place to act and we are the right people to act,” Inslee said in a press conference yesterday, according to his office.
Christine Harbin Hanson, the Federal Affairs Manager for Americans for Prosperity, recently wrote an article published on Forbes that shows that she is either very ill-informed on this matter or is simply looking to deceive people. I can only hope it’s the former. Her article incorrectly argues that Renewable Portfolio Standards cost citizens a great deal and that “renewable energy sources like wind and solar… are significantly more expensive than their traditional energy alternatives.”
Wind power installation rates aren’t what they used to be. But that could change within the next two years, asserts the leading wind energy industry group, largely thanks to a surge of construction activity in Texas. The first quarter of 2014 saw 214 megawatts of wind energy built, according to the American Wind Energy Association’s “U.S. Wind Industry First Quarter 2014 Market Report,” released yesterday. This is a drop from the 1,016 MW installed in the fourth quarter of 2013 and pales in comparison to the record 8,385 MW completed at the close of 2012 as wind developers hurried to qualify for the 2.3-cent-per-kilowatt-hour renewable energy production tax credit (PTC) before it expired.