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.
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.
Hundreds of activists showed up at a hearing about so-called “smart meters” held by the Texas Public Utility Commission this week, with most of them seeking a way to opt-out from receiving one of the controversial electricity meters that critics link to serious privacy and health concerns. A Republican member of the state legislature even promised that if the PUC refused to allow consumers a choice, he would introduce legislation to force its hand.
The federally backed meters have long been a source of controversy and criticism in Texas, which has rolled out millions of the devices in recent years and is reportedly almost 90 percent finished with its state-wide installation scheme. Hundreds of outraged citizens sent comments to authorities before the hearing demanding that their concerns be addressed. Most wanted the option to refuse a smart meter at the very least, with some seeking an “opt-in” system instead.
A new proposal by the Obama administration to expand drilling to half of the National Petroleum Reserve in Alaska (NPR-A) has attracted criticism from the oil industry, as the plan still leaves a broad area off limits to new oil development. Interior Secretary Ken Salazar said new development will be permitted in an 11.8 million-acre geographical area, which purportedly holds about 549 million barrels of oil, while coastal regions such as Kasegaluk Lagoon and Peard Bay — where there is a higher concentration of seals and polar bears — will receive “special protection.”
Reports coming out this August show that our nation has plenty of oil and gas and that we ought to be a major exporter of coal to foreign markets. The economic benefits of an aggressive hydrocarbon energy production policy are vast.
As congressional Republicans continue their assault on President Obama’s seemingly failed “green” agenda, the White House announced August 7 it will expedite seven federal wind and solar projects across four western states. The programs, which will be grounded in Nevada, Arizona, California, and Wyoming, will generate enough power to run 1.5 million homes, the White House said in a press release.
As the international effort to deploy so-called “smart meters” to monitor electricity usage marches on, resistance to the controversial devices is increasing around the world as well. Proponents claim the schemes could save money and reduce energy use. Opponents from across the political spectrum, however, worry that the smart meters might not be just a stupid idea and a waste of money — they could actually be dangerous in more ways than one.
Moving forward with President Obama’s environmental agenda, the White House is expected to authorize new federal auto standards in the coming weeks that will nearly double fuel economy requirements for vehicles by 2025. The regulations require “fleet wide” gas mileage of 54.4 miles per gallon, or the average fuel economy for all cars, vans, trucks and other vehicles.
When Houston-area activist Thelma Taormina was allegedly shoved multiple times by a man trying to install a controversial so-called “smart meter” on her home, she had already told the public-utility subcontractor that he was trespassing and to get off her property. When he continued to refuse, Taormina told The New American in an interview, she went inside and got her gun. That worked.
The incident has since become national news. But amid headlines about Taormina’s efforts to stop what she described as an “assault,” little attention was given to one of the key elements in the controversy: the government’s attempt to foist “smart meters” on the American people no matter what citizens think about the devices.
Mounting resistance against President Obama’s seemingly anti-oil agenda, the Republican-led House passed a bill Wednesday that would displace the administration’s new offshore drilling plan. However, the measure is doomed for failure in the Senate, which has prompted Democrats to blast the attempt as a political maneuver made by disgruntled Republicans who oppose the president’s energy policies.
Another American solar firm is purportedly in financial disarray after receiving millions of dollars in grants from the U.S. Department of Energy (DOE). Only a year after it opened, the Amonix solar manufacturing plant located in North Las Vegas has idled production, leaving serious questions about the company’s financial viability and whether taxpayers will be burdened with another multi-million-dollar DOE-subsidized boondoggle.