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Posts Tagged ‘economic risk’

King Coal’s Stages of Grief, Part 2: Financial Risk and the Economics of Coal

This post continues my series on King Coal’s Stages of Grief, and focuses on more denial—this time about economics. Yesterday the U.S. Energy Information Administration (EIA) noted that the production of coal from mountaintop removal (MTR) mining has decreased by 62 percent since 2008. And last month, Bank of America released its new Coal Policy, committing to phasing out financial support for mountaintop removal coal mining. Read More

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Stormy Seas, Rising Risks: New Analysis Shows Undisclosed Climate Change Impacts at Oil Refineries

Ten miles outside New Orleans stands a two-million barrels per day oil refinery, surrounded by the Meraux, Louisiana community. On low-lying ground along the Gulf coast, an elaborate network of pipes and smoke stacks looms beyond double-wide trailers, rows of single-family homes, and a playground. By 2050, the refinery and surrounding areas could be underwater, given intermediate sea level rise estimates. But this won’t be the first time the refinery has seen high water levels. Read More

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Overreliance on Natural Gas: Risky for the Climate and the Economy

In last week’s State of the Union (SOTU) address, President Obama reiterated his support for climate science by unequivocally stating “The debate is settled. Climate change is a fact.” He also should be commended for highlighting the urgency of the problem as local communities are already experiencing damaging and costly climate impacts like drought, wildfires, heat waves, and coastal flooding.

But the President’s enthusiasm for increasing natural gas production and use as an important climate solution missed the mark. And like his climate action plan speech at Georgetown University last June, the President highlighted the economic benefits of increasing U.S. natural gas production, while failing to mention the economic risks of an overreliance on natural gas. Read More

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