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ConocoPhillips, Caterpillar Inc. and BP America have left the U.S. Climate Action Partnership, a coalition of more than two-dozen companies and environmental groups lobbying Congress to pass greenhouse gas emissions cap-and-trade legislation.
BP America, a unit of London-based BP PLC, notified fellow U.S. CAP members of its decision by letter today. Houston-based ConocoPhillips broke the news in a press release.
In interviews, officials from both companies said legislation pending in Congress, including a bill passed by the House last summer, does not do enough to promote expanded natural gas consumption as a hedge against climate change. Moreover, the legislation puts the transportation sector -- including oil and gas producers -- at a disadvantage compared with coal.
"House climate legislation and Senate proposals to date have disadvantaged the transportation sector and its consumers, left domestic refineries unfairly penalized versus international competition, and ignored the critical role that natural gas can play in reducing GHG emissions," ConocoPhillips Chairman and CEO Jim Mulva explained in the statement. "We believe greater attention and resources need to be dedicated to reversing these missed opportunities, and our actions today are part of that effort."
ConocoPhillips will not participate in U.S. CAP lobbying activities in 2010 and beyond, Red Cavaney, the company's senior vice president for government affairs, confirmed in an interview. Cavaney said his company will work through nascent transportation coalitions, as well as major trade groups -- including the American Petroleum Institute and National Association of Manufacturers -- to help shape climate and energy legislation on Capitol Hill.
Among the issues his company will focus on are promoting expanded natural gas production and consumption and ensuring domestic refineries are not put at a competitive disadvantage with refineries in countries without a greenhouse gas emissions cap.
"We'll be trying a rifle approach instead of a shotgun approach," Cavaney added.
If the Senate opts to move forward with the emissions cap-and-trade system envisioned in the House-passed bill, the Senate bill must increase free allowances for petroleum refineries, Cavaney underscored.
"We want to make sure that refineries get protections," he added.
The House-passed bill (H.R. 2456) would cap carbon dioxide and other heat-trapping gases at 17 percent below 2005 levels by 2020 and 83 percent by 2050. Under the bill's cap-and-trade proposal, power plants, oil refiners and other regulated entities must pollute less or buy and sell emissions allowances to meet the federal targets.
The bill would allocate the electricity sector 35 percent of allowances -- nearly commensurate with its share of U.S. emissions. The oil and gas sector, which accounts for roughly a third of U.S. greenhouse gas emissions, would receive 2 percent of the allowances.
ConocoPhillips has maintained that oil refiners won't be able to pass along 100 percent of the cost of buying allowances to consumers. Thus, refiners should be provided an allowance allocation for such "uncovered costs."
Originally posted by Quickfix
They really need to clean that stuff up and now or face dire consequences in the early future.
A crew member from an oil platform that sank off the Louisiana coast Thursday reported an initial explosion three hours before the rig went up in flames in a second, larger explosion, the Coast Guard said.
Coast Guard Senior Chief Petty Officer Mike O'Berry told The Associated Press that according to their internal reports, the first blast was reported at 7 p.m. CDT Tuesday. Three hours later, the rig sent an emergency signal that's "like a panic button," he said.
At the same time, a nearby rig called to report the Deepwater Horizon was engulfed in flames, O'Berry said. The rig did not ask for help during the initial call, but the Coast Guard sent crews after the emergency signal came.
The Coast Guard is investigating what happened during that span.
"That three-hour window is obviously stuff being investigated — what happened during that time," O'Berry said.
Originally posted by MinorityReporter
Well S___ Happens to bad they didn't have the proper safety measures before they went ahead. This deposit is really deep and hard to get to, so they should of had some expensive containment research and development done before going ahead.
www.youtube.com...
P.S. I hope the supposed malevolent forces didn't do this on purpose. Thats like sinking your own ship to kill the Captain.
Originally posted by MinorityReporter
reply to post by prionace glauca
The ship was a metaphor for earth . Are you saying aliens did it? Now were really cooking with ATS gas
Originally posted by MinorityReporter
reply to post by prionace glauca
My goodness this will be my last response. OK (with patronizing tone) If the earth is the ship of mankind OK And you cause a major environmental catastrophy for a self serving agenda. It is not only hurting your enemy but you as well.
It is a desperate flawed logic
OUT