Countering heated opposition from industry groups on Thursday, California’s top air regulator posed an unwavering defense of the state’s pending cap-and-trade system, which intends to limit greenhouse gas emissions through a carbon trading system.
Shareholders of Canadian oil firm Nexen voted Thursday to favor a $15.1-billion takeover that would place the company into the hands of the Chinese state-owned CNOOC (China National Offshore Oil Corporation), although the merger still requires approval by the Canadian government. In a 99-percent assenting vote, shareholders approved the $27.50 per-share offer, bestowing China with its largest overseas energy acquisition ever.
Given the potential flood of legal challenges to its constitutionality, the corporation believed to be behind TrapWire is heading for higher ground, denying any association with the surveillance technology.
In a statement published on its website on August 13, Cubic Corporation attempted to sever the ties binding it to TrapWire. "Cubic Corporation (NYSE: CUB) acquired Abraxas Corporation on December 20, 2010. Abraxas Corporation then and now has no affiliation with Abraxas Applications now known as Trapwire, Inc. Erroneous reports have linked the company with Trapwire, Inc.,” the company insisted.
Underscoring the inimical aftereffects of President Obama’s “war on coal,” Alpha Natural Resources announced September 18 it will be shuttering eight coal mines in Virginia, Pennsylvania, and West Virginia, while laying off some 1,200 workers. Expounding on the decision, Alpha CEO and chairman Kevin Crutchfield asserted, "With fundamental changes taking place in our business, we're taking decisive actions that set the table for Alpha to compete successfully as a leader in the global coal markets for years to come.”
Rory Reid, the eldest son of Senate Majority Leader Harry Reid (D-Nev.), is the chief representative for a Chinese energy firm planning to build a $5-billion solar plant on public land in Laughlin, Nevada. ENN Energy Group, a clean-energy firm that manufactures a range of renewable energy solutions, is seeking to construct its solar panel facility on a 9,000-acre stretch of land on a Clark County desert plot.
The controversy stems from the fact that Clark County officials voted to sell ENN the public land for $4.5 million, even though it was appraised at $38.6 million. Conveniently, Sen. Reid has been one of ENN’s most prominent supporters, having helped mobilize the firm during a 2011 trip to China.