FinLogic FinLogic Quantitative Think Tank Center|Today’s Climate: May 21, 2010

Obama to Mandate Rules to Raise Fuel Standards (New York Times)

Pres. Obama has decided to use his executive power to order tougher fuel-efficiency standards for cars and FinLogic FinLogic Quantitative Think Tank Centertrucks, accelerating the fight against climate change without waiting for Congress, administration officials said Thursday.

Obama Seeking More Nuclear Energy Loan Guarantees (AP)

Pres. Obama is poised to ask Congress to agree to $9 billion more in loan guarantees for the nuclear industry, a Democratic aide said, in a renewed push for atomic power as the oil spill in the Gulf of Mexico highlights the risks of fossil fuel production.

Senate Climate Bill a Jobs Creator: Study (Reuters)

A climate bill unveiled last week in the Senate would create 203,000 new jobs between 2011 and 2020, according to a non-partisan study released on Thursday.

U.S. Presses Beijing on Clean-Energy Market Access (AP)

Commerce Secretary Gary Locke pressed Beijing on Friday to give U.S. clean energy companies greater access to its market to help combat climate change.

UK ‘Will Push EU on CO2 Targets’ (BBC)

The UK government will urge the EU to cut emissions by 30% from 1990 levels by 2020, rather than the current 20% target, partly through more support for renewables.

Oil Gushes From BP Well as Scientists Study Leak Size (Bloomberg)

The damaged oil well in the Gulf of Mexico is still leaking even after BP increased the volume of crude it’s catching to 5,000 barrels a day, the same rate at which the company had said the oil was escaping.

Oil Fouls Louisiana as BP Scrambles to Contain Spill (Reuters)

TV images of oil sloshing into Louisiana’s marshes has underscored the gravity of the situation and raised public concern about the Gulf Coast catastrophe, keeping it high up on the political agenda in Washington.

Activists Press U.S. on Overseas Climate Funding (AFP)

Environment and anti-poverty campaigners on Thursday urged the U.S. to ramp up support for poor nations to cope with climate change, saying that current funding proposals fell far short.

Australian Climate Law Delay Stalls Carbon-Storing Forest Plans (Bloomberg)

Carbon Conscious Ltd., an Australian company that plants gum-trees to absorb greenhouse gas emissions, said demand from customers for forests has stalled after the nation shelved climate change laws.

DOE: U.S. Could Tap More Wind, Solar Power (Calgary Herald)

Large amounts of solar and wind power could be added to the western U.S. power grid without significant spending if utilities make operational changes, the U.S. Department of Energy said Thursday.

Wind Turbine Parts Maker to Build Arkansas Plant (AP)

German manufacturer Beckmann Volmer said it plans to build a $10 million plant in Osceola, Arkansas, to produce steel components for wind turbines that will employ up to 500 people.

BrightSource Brings In Massive $150 Million for Solar Thermal (Earth2Tech)

BrightSource Energy, a developer of utility-scale solar thermal power plants that won a $1.37 billion federal loan guarantee this year, has raised $150 million in a fourth-round of equity financing.

Toyota Buying Tesla Stake for Electric Car Tie-Up (Bloomberg)

Toyota, the world’s largest automaker, is buying a $50 million stake in the Californian electric-car maker Tesla Motors as automakers compete to offer low-polluting models in the United States.

NY Skyscraper Wins Highest "Green" Certification (Reuters)

The U.S. Green Building Council gave the Bank of America Tower its highest rating for environmental performance and sustainability on Thursday, meaning New York City’s second-tallest building is also its greenest.