{Disarmed} Drillin’ for a Trillion, Glitchy Sensors and the Weekly Chilling Effect cartoon

Energy and Environment: Around the Interwebs

* The JunkMan: “How can celebrity anti-nuclear power activists Alec Baldwin and Christie Brinkley try, in good conscience, to scare us about both carbon-free nuclear power and global warming?”

* Watts Up With That?: CO2 Does Not Drive Glacial Cycles

* TIME will tell: The EPA’s Move to Regulate Carbon: A Stopgap Solution

* In The UK: “leading greens join forces in a major U-turn”

* Letter: “I will take the global warming alarmists, such as Al Gore, Bill Ritter and Ryan Nielsen, more seriously when they voluntarily stop physically emitting CO2 and methane.”

* ScareWatch: “Cracked earth may cause ‘global warming’”

Drillin’ For A Trillion

Reuters reports this morning:

“Expanding energy exploration and production to U.S. offshore areas that were off limits until recently could result in more than a trillion dollar goverment windfall and millions of new jobs, a report said on Monday.

“Oil and natural gas development in newly opened offshore areas will generate $1.7 trillion in federal tax revenue and almost $600 million in state and local taxes throughout the life span of the new fields, according to the study conducted by the American Energy Alliance…”

The increased offshore energy production would also support 1.2 million jobs annually.

“Offshore exploration key to our financial recovery”

Wanted to pass along an interesting piece from this morning’s Houston Chronicle. Louisiana State University professor Joseph Mason points to a new study that should impact Congress’s consideration of whether or not to permanently lift the moratorium on exploration and production of natural resources in the Outer Continental Shelf.

Mason has some impressive figures on his side, which argues against the Congressional ban on drilling:

In the short-run exploration and development phases (the first seven years), OCS projects will contribute “only” around $500 billion to our GDP, create 250,000 new jobs, generate $80 billion in federal tax and royalties, and produce $35 billion in state and local tax revenue (all estimates in current dollars). Over the long run, production phase, OCS projects will contribute more than $8 trillion to U.S. GDP, about 1.2 million jobs (each for a 30-year career) and some $1.65 trillion in federal tax and royalty revenues and $600 billion in state and local tax revenue. These substantial economic benefits — available with the simple stroke of a deregulatory pen — look even more impressive compared to Washington’s $790 billion tax-funded stimulus.

Americans stand to gain a lot, from both an energy and economic standpoint, if Congress permanently lifts the moratoria on exploration and production in the OCS. But those gains must be accompanied by a broader political discussion on natural resources, lest we continue to needlessly turn away sources of economic growth in the midst of recession.

Whoops! We Sense The Global Warming Hype Is Overestimated

Bloomberg has this story, “Arctic Sea Ice Underestimated for Weeks Due to Faulty Sensor,” noted by Drudge:

“A glitch in satellite sensors caused scientists to underestimate the extent of Arctic sea ice by 500,000 square kilometers (193,000 square miles), a California- size area, the U.S. National Snow and Ice Data Center said.

“The error, due to a problem called “sensor drift,” began in early January and caused a slowly growing underestimation of sea ice extent until mid-February. That’s when “puzzled readers” alerted the NSIDC about data showing ice-covered areas as stretches of open ocean, the Boulder, Colorado-based group said on its Web site…”

As we noted, WHOOOPS!





	February 23, 2008 Energy and Environment: Around the Interwebs * The JunkMan: “How can celebrity anti-nuclear power activists Alec Baldwin and Christie Brinkley try, in good conscience, to scare us about both carbon-free nuclear power and global warming?” * Watts Up With That?: CO2 Does Not Drive Glacial Cycles * TIME will tell: The EPA’s Move to Regulate Carbon: A Stopgap Solution * In The UK: “leading greens join forces in a major U-turn” * Letter: “I will take the global warming alarmists, such as Al Gore, Bill Ritter and Ryan Nielsen, more seriously when they voluntarily stop physically emitting CO2 and methane.” * ScareWatch: “Cracked earth may cause ‘global warming’” Drillin’ For A Trillion Reuters reports this morning: “Expanding energy exploration and production to U.S. offshore areas that were off limits until recently could result in more than a trillion dollar goverment windfall and millions of new jobs, a report said on Monday. “Oil and natural gas development in newly opened offshore areas will generate $1.7 trillion in federal tax revenue and almost $600 million in state and local taxes throughout the life span of the new fields, according to the study conducted by the American Energy Alliance…” The increased offshore energy production would also support 1.2 million jobs annually. “Offshore exploration key to our financial recovery” Wanted to pass along an interesting piece from this morning’s Houston Chronicle. Louisiana State University professor Joseph Mason points to a new study that should impact Congress’s consideration of whether or not to permanently lift the moratorium on exploration and production of natural resources in the Outer Continental Shelf. Mason has some impressive figures on his side, which argues against the Congressional ban on drilling: In the short-run exploration and development phases (the first seven years), OCS projects will contribute “only” around $500 billion to our GDP, create 250,000 new jobs, generate $80 billion in federal tax and royalties, and produce $35 billion in state and local tax revenue (all estimates in current dollars). Over the long run, production phase, OCS projects will contribute more than $8 trillion to U.S. GDP, about 1.2 million jobs (each for a 30-year career) and some $1.65 trillion in federal tax and royalty revenues and $600 billion in state and local tax revenue. These substantial economic benefits — available with the simple stroke of a deregulatory pen — look even more impressive compared to Washington’s $790 billion tax-funded stimulus. Americans stand to gain a lot, from both an energy and economic standpoint, if Congress permanently lifts the moratoria on exploration and production in the OCS. But those gains must be accompanied by a broader political discussion on natural resources, lest we continue to needlessly turn away sources of economic growth in the midst of recession. Whoops! We Sense The Global Warming Hype Is Overestimated Bloomberg has this story, “Arctic Sea Ice Underestimated for Weeks Due to Faulty Sensor,” noted by Drudge: “A glitch in satellite sensors caused scientists to underestimate the extent of Arctic sea ice by 500,000 square kilometers (193,000 square miles), a California- size area, the U.S. National Snow and Ice Data Center said. “The error, due to a problem called “sensor drift,” began in early January and caused a slowly growing underestimation of sea ice extent until mid-February. That’s when “puzzled readers” alerted the NSIDC about data showing ice-covered areas as stretches of open ocean, the Boulder, Colorado-based group said on its Web site…” As we noted, WHOOOPS!