Continue reading Google and State of California team to show climate change effects

Google and State of California team to show climate change effects originally appeared on BloggingStocks on Mon, 07 Dec 2009 16:45:00 EST. Please see our terms for use of feeds.

Climate change isn't going to be free. A report by Point Carbon, an independent consulting company that tracks global carbon and energy markets, estimates that U.S. climate legislation could push the price at the pump 13 cents a gallon higher. The increase would result from the cost to oil companies for carbon permits, which they can pass along to consumers.

This is a much rosier view than that of the oil industry, however, which believes a U.S. cap-and-trade system would thrash demand for gasoline and lead to the shuttering of many refineries.

Continue reading Climate change law could cost 13 cents a gallon

Climate change law could cost 13 cents a gallon originally appeared on BloggingStocks on Tue, 03 Nov 2009 09:00:00 EST. Please see our terms for use of feeds.

The U.S. Chamber of Commerce is fighting back. The organization has filed a civil lawsuit against the Yes Men, an activist group that announced that the chamber had changed its position on climate change.

The Yes Men told the National Press Club on October 19, 2009 that the Chamber of Commerce would give up lobbying against the Senate's 800-page climate change bill. Reuters, CNBC and Fox Business Network all reported on the story, with the anchors correcting themselves midstream, when they learned that it was false.

Continue reading Chamber of Commerce sues activists over climate change stunt

Chamber of Commerce sues activists over climate change stunt originally appeared on BloggingStocks on Tue, 27 Oct 2009 14:20:00 EST. Please see our terms for use of feeds.

The clean technology wave just got a little bigger. This tends to be a side-effect of interest from billionaire investor George Soros. And, as usual, it's more than just money; it's more than just a return. Soros, yet again, is trying to save the world. Interestingly, the bold move was announced at a meeting on climate change sponsored by Project Syndicate - an international association consisting of 430 newspapers from 150 countries (and thus with clear ties to the past, rather than future).

The investor and founder of Soros Fund Management LLC is planning to put $1 billion into clean-tech opportunities using what he calls "rather stringent criteria," which involves being "profitable but should also actually make a contribution to solving the problem [i.e., of clean technology adoption and proliferation]." Soros didn't provide any other details on the nature or scope of his investments.

Continue reading Soros to put $1 billion into clean-tech companies

Soros to put $1 billion into clean-tech companies originally appeared on BloggingStocks on Mon, 12 Oct 2009 08:30:00 EST. Please see our terms for use of feeds.

Continue reading A new hybrid sports car, an outlandish price tag ... and Al Gore

A new hybrid sports car, an outlandish price tag ... and Al Gore originally appeared on BloggingStocks on Fri, 25 Sep 2009 09:30:00 EST. Please see our terms for use of feeds.

Last night it was reported by Reuters, following up on an interview in the Financial Times (subscription required) that James Hackett, chairman and chief executive of independent oil and gas company Anadarko Petroleum (NYSE: APC) said, "Washington's energy and environmental policy risks plunging the United States into an economic tailspin that could make it the world's cleanest third world country."

Seems he is not partial to the global warming crowd as indicated by his statement that "The histrionic and maniacal focus on carbon dioxide is intellectually repugnant to me," but how does he really feel?

Continue reading US: The world's cleanest third world country

US: The world's cleanest third world country originally appeared on BloggingStocks on Tue, 14 Apr 2009 12:50:00 EST. Please see our terms for use of feeds.

Leaders of the G-8 (group of 8 wealthy nations) basically did nothing in their talks to cut global greenhouse emissions. They agreed to cut emissions in half by the year 2050. How many of them will even be alive by then? I've heard of five year economic plans but 42 year plans? Something tells me it just won't work. The U.S. also was victorious in not setting any actual numerical targets.

According to a MarketWatch report: "The U.S. and several other developed countries have said they will not enter an agreement to reduce future greenhouse gas emissions which does not include binding commitments by growing industrial powers such as China and India to cut carbon."

And rightly so. Why should the U.S. bear the brunt of the economic costs of this initiative and growing economies, which are much bigger polluters, get off without having to accept any responsibility? It seems like a case of just trying to redistribute wealth from the west to emerging economies.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's fund has no position in any stock mentioned, as of 7/8/08.

G-8 accomplishes little on greenhouse emission cuts originally appeared on BloggingStocks on Tue, 08 Jul 2008 10:30:00 EST. Please see our terms for use of feeds.

Rockefellers keep pushing for change at Exxon Mobil originally appeared on BloggingStocks on Tue, 27 May 2008 15:50:00 EST. Please see our terms for use of feeds.

As was reported in AP online, "Members of the Rockefeller family are pressuring Exxon Mobil (NYSE: XOM) to focus more on renewable energy. The family members, who say they are the oil giant's longest continuous shareholders, say Exxon is too focused on short-term gains from sky-high oil prices. They also argue splitting the roles of chairman and CEO will help the company be more flexible in the future."

Last time I checked, companies had a responsibility to provide value for shareholders, and no one has done it better than the oil giant. It has been producing record earnings quarter after quarter, and that is exactly what it is supposed to do. Corporations are not supposed to be politically correct organizations that throw money around at the latest fad. Maybe Exxon doesn't believe that there is a global warming problem? Or maybe it wants to see a lot more scientific evidence of the problem before committing billions and billions of dollars to research. If I were a shareholder, I would want management to take the exact approach that it has been taking. The fact that it is the most profitable company in the world means something. It should be commended for providing shareholder value.

In fact, Bloomberg has an article that says that ocean cooling will stop global warming. Moreover, the article indeed mentions that the authors tried to spin the article because of Exxon. "We thought a lot about the way to present this because we don't want it to be turned around in the wrong way," Keenlyside said. "I hope it doesn't become a message of Exxon Mobil and other skeptics."

Sounds to me that they are right to be skeptical.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's fund has no position in any stock mentioned, as of 5/1/08

Exxon Mobil: Don't waste money on global warming -- no to the Rockefeller's originally appeared on BloggingStocks on Thu, 01 May 2008 10:55:00 EST. Please see our terms for use of feeds.

Continue reading Rioting over food inflation due to ethanol

Rioting over food inflation due to ethanol originally appeared on BloggingStocks on Mon, 14 Apr 2008 16:00:00 EST. Please see our terms for use of feeds.

Coming soon to investor email and mail boxes will be annual reports and proxy voting materials, complete with this year's shareholder resolutions. Hot topics this annual meeting season include the ever popular "say-on-pay." Shareholders are incensed that average or even sub-par executive performance and decision making is being handsomely rewarded with gigantic salaries and perks while they make due with crumbs. According to a recent article in CFO Magazine, 76 shareholder proposals dealing with executive compensation have made it onto the ballot.

Also on many ballots are shareholder resolutions dealing with socially responsible investing, particularly on matters revolving around the issue of global warming and/or climate change. So far, 56 shareholder resolutions have made it onto ballots. At least nine companies have taken steps to negate the need for such shareholder resolutions by rolling out policies addressing how the companies will cut back on greenhouses emissions and otherwise "go green."

As this is a presidential election year, there are at least 50 shareholder resolutions to force companies to disclose political contributions. These resolutions probably won't gain the necessary traction to force any action, but any resolution favoring greater corporate transparency is to shareholders' advantage.

New this year are numerous resolutions requesting senior management to disclose a company's exposure to subprime mortgage losses and secondary purchases in the mortgage market. This is a hot topic among investors right now, and many pension fund investors have taken hits. Look for union members to pressure their pension funds manangers on this one.

How will you vote on these subjects?

It's shareholder resolution time -- what is your say on pay? originally appeared on BloggingStocks on Wed, 02 Apr 2008 16:59:00 EST. Please see our terms for use of feeds.

While getting grilled by opportunistic lawmakers on Capitol Hill, about soaring gas prices and how senior executives are able to live with themselves knowing they are making such large profits, J.S. Simon, CEO of Exxon Mobil (NYSE: XOM), let the cat out of the bag. Responding to questions from Rep. Edward Markey as to why Exxon hasn't invested in alternative energy, the AP reported the following exchange:

"Why is Exxon Mobil resisting the renewable revolution," asked Markey.

Simon said his company, which earned $40 billion last year, had provided $100 million on research into climate change at Stanford University, but that current alternative energy technologies "just do not have an appreciable impact" in addressing "the challenge we're trying to meet."

Continue reading Alternative energy makes little impact

Alternative energy makes little impact originally appeared on BloggingStocks on Tue, 01 Apr 2008 17:57:00 EST. Please see our terms for use of feeds.

Continue reading Exxon Mobil wants a piece of the hybrid car market

Exxon Mobil wants a piece of the hybrid car market originally appeared on BloggingStocks on Mon, 17 Mar 2008 16:16:00 EST. Please see our terms for use of feeds.

With all the hysteria about global warming and the impact that it will have on the globe, I found it quite funny that the National Oceanic and Atmospheric Administration (NOAA) reported yesterday that we just experienced the coldest winter since 2001. Hey Al Gore -- how can that be? I remember when I was growing up, in the mid- 1970's, Newsweek magazine had a cover story about the beginning of the ice age. Amazing what can happen in 25 years. We can go from an ice age, to global warming. Not bad.

According to the NOAA report:

"In the contiguous United States, the average winter temperature was 33.2°F (0.6°C), which was 0.2°F (0.1°C) above the 20th century average - yet still ranks as the coolest since 2001. It was the 54th coolest winter since national records began in 1895. "

Why not ask the Chinese about global warming? They just experience a horribly snowy winter which has been a major cause of inflation. Extreme cold temperatures were the norm this winter. Over the last 150 years or so the global mean temperature has increased by 0.7 degrees Celsius. This small amount of warming is not unusual, and falls well within the range of variation for both warming a cooling.

Continue reading What about global cooling?

What about global cooling? originally appeared on BloggingStocks on Fri, 14 Mar 2008 20:00:00 EST. Please see our terms for use of feeds.

GM's Lutz calls global warming 'a total crock' originally appeared on BloggingStocks on Thu, 28 Feb 2008 09:15:00 EST. Please see our terms for use of feeds.

Within the next three years, the federal government is expected to enact legislation capping carbon output levels for U.S. businesses. U.S. companies will either have to reduce their greenhouse gas emissions by a certain percentage, to be determined later, or buy carbon offset credits from businesses that have reduced their carbon output in excess of their required minimum. Why is this a problem for investors? Once the federal carbon caps are in place, carbon offset credits will be much more expensive to purchase. Companies with excessive carbon outputs will pay a steep price for carbon credits.

Why don't companies take a more proactive approach and purchase carbon offset credits now when the price is much lower? Unfortunately, the carbon credit market is presently completely unregulated. There is no standardized system for measuring carbon reduction amounts nor is there any way to verify the legitimacy of such carbon credits as do exist. Companies that wish to market themselves as "green" may voluntarily participate in various carbon reduction efforts, such as reforestation projects. But there is no guarantee that the federal carbon cap program will recognize those efforts once mandatory caps are in place.

Many of the same problems exist with Renewable Energy Certificates (REC). There is no national registry of who owns what RECs, no verification as to whether the energy is actually generated from clean energy sources. There is no standardized method to convert RECs into carbon offset credits. In the next 3-4 years, all investors in all types of companies will be forced to consider carbon output numbers as one more factor in the due diligence process.

Carbon credits and investor due diligence originally appeared on BloggingStocks on Wed, 23 Jan 2008 15:02:00 EST. Please see our terms for use of feeds.

But what does he know about the world of start-ups? Having worked in venture capital I can tell you that trailblazing around the world and meeting with world leaders at Davos, isn't how to build a successful company. Hard-work and boot-strapping it are the way to go. No first class international business trips on the company's tab. That perk went away with the hi-tech bubble burst of 7 years ago. While it was easy for the former senator to waste taxpayer money in Washington, DC, the private sector is a different ballgame. Investors expect accountability.

Until actual science proves that there is such a thing as man-made global warming, let's hope Mr. Gore goes the way of former Secretary of State Colin Powell, who joined KPCB two years ago as a part-time partner, never to be heard from again. Maybe that will end the mania.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC and Senior Editor of IsraelNewsletter.com. He holds no position in any stock mentioned as of 11/13/07.

Al Gore: From bureaucrat to company strategist? originally appeared on BloggingStocks on Tue, 13 Nov 2007 10:22:00 EST. Please see our terms for use of feeds.

Continue reading Al Gore calls out Exxon (XOM)

Al Gore calls out Exxon (XOM) originally appeared on BloggingStocks on Tue, 07 Aug 2007 09:45:00 EST. Please see our terms for use of feeds.

In what is sure to be only the latest event in a long case of protracted legal wrangling, a San Francisco federal appeals court has ordered Royal Dutch Shell Plc's (NYSE: RDS.A) vessels to stop all operations in the Beaufort and Chuckchi Seas. Environmental groups and Eskimo villages are seeking greater research into the effect drilling will have on marine wildlife in the region, and the judge agreed to give them time.

Shell isn't too happy. The company claims to have spent $200 million on the project already, including extensive research on the effect drilling will have on the environment, and has also formulated a plan to deal with oil spills. Of course, it's easy to be skeptical of an oil company's studies on environmental impact.

The Department of the Interior has supported drilling but, given the recent scandals involving global warming and political pressure on scientists, the department is not as high on credibility as it once was.

Given the amount of time it will take for any oil from the region to be brought to market, and the relatively small amount that is thought to be feasible for drilling, this probably won't have a material impact on energy prices anytime soon.

Shell ordered to stop Arctic drilling originally appeared on BloggingStocks on Sun, 22 Jul 2007 16:40:00 EST. Please see our terms for use of feeds.

Continue reading Live Earth concert sets new record for internet views

Live Earth concert sets new record for internet views originally appeared on BloggingStocks on Mon, 09 Jul 2007 14:07:00 EST. Please see our terms for use of feeds.