A heated issue now being debated amongst President Obama, congressional members, and the general public is the tumultuous rise in gas prices that Americans are now faced with daily. House Republicans have ramped up efforts to expose Democrats and the President for their purported resistance to oil development and energy independence.
To purportedly tame the progressive rise in gas prices, President Obama visited a North Carolina truck manufacturer on Wednesday to unveil a new $1 billion plan to advocate electric and alternative vehicles through consumer incentives and federal grants for states.
The Obama administration continues to deflect blame over soaring gas prices, and conservatives and congressional Republicans have been quick to excoriate the President for his costly environmental measures. President Obama’s energy policies, critics allege, have prompted not only an increasingly heavy burden at the gas pump, but also are shaping a progressive rise in Americans’ electric bills.
Adding to the growing list of failed "green" energy companies, another solar firm filed for Chapter 11 bankruptcy on Tuesday in hopes of selling off its solar power subsidiaries and other assets. Energy Conversion Devices Inc. (ECD), a Michigan-based manufacturer of thin-film solar laminates (product shown at left), said it will continue to operate through the bankruptcy and sale process.
U.S. regulators on Thursday authorized plans to construct the nation’s first nuclear power plant in three decades, despite concerns stemming from Japan’s 2011 earthquake that led to a meltdown at the Fukushima nuclear plant last March. The Nuclear Regulatory Commission (NRC) voted 4-1 to grant Atlanta-based Southern Company a license to begin operating two new reactors at its existing Vogtle plant in Georgia, which will cost about $14 billion and are expected to enter service as early as 2016 and 2017.
Ener1 Inc., which owns an electric car battery-maker that reaped a $118-million grant from the Obama administration, filed for bankruptcy protection Thursday. The New York-based company claimed defaults on its bond debt were spurred by rising competition from China and other countries. Ener1 listed $73.9 million in assets and $90.5 million in debt as of December 31 in Chapter 11 papers filed in U.S. Bankruptcy Court.
As environmental groups hail President Obama’s rejection of the Keystone XL pipeline, billionaire and prominent Democratic donor Warren Buffett (left) is set to reap a handsome reward from the decision. Buffett’s Burlington Northern Santa Fe LLC is a notable beneficiary — among other U.S. and Canadian railroads — of the move, as it is one of the railroads that will transport the Canadian oil if the pipeline isn’t approved.
House Republicans unleashed a barrage of criticism Wednesday during a House hearing on Chevrolet’s Volt electric car, after the head of the federal auto safety agency insisted that the vehicles are not dangerous. "The Chevrolet Volt is safe to drive and it has been safe to drive the whole time," David Strickland, head of the National Highway Traffic Safety Administration (NHTSA), told a congressional panel. "Not only would I drive it, I would [take] my wife, my mother and my baby sister along for the ride."
Another taxpayer-funded solar-panel company, Willard & Kelsey Solar Group LLC, is undergoing operational issues, as it recently laid off about 40 people indefinitely due to delays in its production line. CEO and board chairman Michael Cicak would not comment on the timeline of the production changes or when the laid-off employees might return to their jobs.
Human rights activist Kerry Kennedy, ex-wife of New York Governor Andrew Cuomo and daughter of the late Robert F. Kennedy, stands to rake in millions from her seemingly selfless defense of the oil-drilled rain forest in Ecuador. An Ecuadorean appeals court recently upheld a ruling that Chevron Corporation, the U.S. oil giant, should pay $18 billion in damages (which the company is now appealing) to plaintiffs who accused the company of inflicting environmental damage on the Amazon jungle — in what Kennedy called "the biggest corporate environmental disaster on the face of the Earth."