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As You Sow: Coal Investments, Shale Gas, a Bad Bet

12:58 pm in Uncategorized by Steve Horn

Cross-Posted from DeSmogBlog

Two lumps of coal

Photo: Jeffrey Beall / Flickr

In a missive titled “White Paper: Financial Risks of Investments in Coal,” As You Sow concludes that coal is becoming an increasingly risky investment with each passing day. The fracking boom and the up-and-coming renewable energy sector are quickly superseding King Coal’s empire as a source of power generation, As You Sow concludes in the report.

As You Sow chocks up King Coal’s ongoing demise to five factors, quoting straight from the report:

1. Increasing capital costs for environmental controls at existing coal plants and uncertainty about future regulatory compliance costs

2. Declining prices for natural gas, a driver of electric power prices in competitive markets

3. Upward price pressures and price volatility of coal

4. High construction costs for new coal plants and unknown costs to implement carbon capture and storage

5. Increasing competitiveness of renewable generation resources

Prong one pertains to what groups like the American Legislative Exchange Council (ALEC), the Republican Party at-large, and the conservative media echo chamber have coined a “War on Coal” and a “Regulatory Train Wreck,” echoing what the shale gas industry’s PR squad has coined a “War on Shale Gas.”

According to As You Sow, regulations have tied the hands of the coal industry to a sufficient level that it’s no longer as lucrative of a venture to make a capital investment into coal as it is to invest in the shale gas and renewable energy industries. “Uncertainty about future regulations plagues coal plant operators who face the incremental imposition of more stringent standards over time,” As You Sow explained.

Shale Gas “Killing” Coal Power Plants

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Fracking Your Future: Shale Gas Industry Targets College Campuses, K-12 Schools

2:41 pm in Uncategorized by Steve Horn

Don't Frack NY signs at protest

Photo: CREDO.Fracking / Flickr

Cross-Posted from DeSmogBlog

In Pennsylvania – a state that sits in the heart of the Marcellus Shale basin – the concept of “frackademia” and “frackademics” has taken on an entirely new meaning.

On Sept. 27, the PA House of Representatives – in a 136-62 vote – passed a bill that allows hydraulic fracturing, or “fracking” to take place on the campuses of public universities. Its Senate copycat version passed in June in a 46-3 vote and Republican Gov. Tom Corbett signed it into law as Act 147 on Oct. 8.

The bill is colloquially referred to as the Indigenous Mineral Resources Development Act. It was sponsored by Republican Sen. Don White, one of the state’s top recipients of oil and gas industry funding between 2000-April 2012, pulling in $94,150 during that time frame, according to a recent report published by Common Cause PA and Conservation Voters of Pennsylvania. Corbett has taken over $1.8 million from the oil and gas industry since his time serving as the state’s Attorney General in 2004.

The Corbett Administration has made higher education budget cuts totaling over $460 million in the past two consecutive PA state budgets. The oil and gas industry has offered fracking as a new fundraising stream at universities starved for cash and looking to fill that massive cash void, as explained by The Philadelphia Inquirer:

Half of the fees and royalties generated by leases of State System of Higher Education lands would be retained by the university where the resources are located. Thirty-five percent would be allocated to other state universities. The remaining 15 percent would be used for tuition assistance at all 14 schools.

Some professors aren’t exactly thrilled with this notion.

“I’ve become extremely concerned, disturbed, and disgusted by the environmental consequences of fracking,” a professor at Lock Haven University told Mother Jones in a recent article. “They’ve had explosions, tens of thousands of gallons of chemicals spilled. And we’re going to put this on campus?”

Mother Jones‘ Sydney Brownstone also explained that Pennsylvania isn’t the only state playing this game, writing:

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