You are browsing the archive for WI.

Green Billionaires Club? David Vitter Owns Stock in Coal Utilities Fighting EPA Carbon Rules

10:26 am in Uncategorized by Steve Horn

Cross-Posted from DeSmogBlog

A caricature of the Charles & David Koch as clowns

“The most patriotic Americans in the history of the Earth?”

On July 30, the Republican minority of the U.S. Senate Committee on Environment and Public Works, headed by Sen. David Vitter, released a report titled “The Chain of Environmental Command: How a Club of Billionaires and Their Foundations Control the Environmental Movement and Obama’s EPA.”

Critics of the report say it is propaganda designed to skewer the Obama EPA and environmental philanthropists for “conspiring to help the environment.”

Vitter’s chief source of campaign cash is the oil and gas industry and he recently called the billionaire Koch Brothers “two of the most patriotic Americans in the history of the Earth.”

What the 92-page report leaves out is that Vitter — an esteemed member of the Senate “Millionaires Club” — owns tens of thousands of dollars in stocks of the electric utility Wisconsin Energy Corporation (We Energies), which owns major coal-fired power plants in both Oak Creek, Wisc. and Pleasant Prairie, Wisc.

We Energies says it stands to lose economically if the proposed Obama EPA carbon rules are implemented, citing the potential risks related to legislation and regulation in its most recent U.S. Securities and Exchange Commission (SEC) Form 10-Q.

“Any legislation or regulation that may ultimately be adopted, either at the federal or state level, designed to reduce GHG emissions could have a material adverse impact on our electric generation and natural gas distribution operations,” We Energies stated on the form.

“Such regulation could make some of our electric generating units uneconomic to maintain or operate, and could adversely affect our future results of operations.”

We Energies CEO Gale Klappa also voiced dissatisfaction with the proposed rule during his company’s most recent earnings call, saying the company will submit comment to the EPA as part of the public comment period.

Not Just Wisconsin Energy

Financial disclosure forms for 2013 obtained by DeSmogBlog show that, beyond We Energies, Vitter also owns stock in other companies with “skin in the game” on fossil fuel investments, such as General ElectricNextEra Energy and Emerson Electric.

Like We Energies, NextEra Energy — which owns Florida Light & Power — said greenhouse gas regulations at either the federal or state level could hurt its corporate bottom line in its most recent SEC Form 10-Q.

“[NextEra] business could be negatively affected by federal or state laws or regulations mandating new or additional limits on the production of greenhouse gas emissions,” reads the Form 10-Q.

“Extensive federal regulation of the operations of [the company] exposes [it] to significant and increasing compliance costs and may also expose them to substantial monetary penalties and other sanctions for compliance failures.”

Vitter also owns stock in oil majors ExxonMobil and Chevron.

Vitter owns $250,000-$500,000 in Chevron stock alone, not including ownership in other related holdings, such as the company’s mutual funds. When that is tallied, Vitter owns hundreds of thousands more dollars worth of Chevron holdings.

Spokespeople for U.S. Senate Committee on Environment and Public Works and Sen. Vitter’s office did not respond to a request for comment from DeSmogBlog sent via email.

Transparency is in the Eye of the Beholder

In the opening section of the report, the U.S. Senate Committee on Environment and Public Works wrote that “the Billionaire’s Club is not, and seemingly does not, want to be transparent about the groups they fund and how much they are supporting them.”

Yet the hundreds of thousands of dollars in investments owned by Vitter in companies that stand to lose from the proposed Obama EPA carbon rules go unmentioned anywhere in the report.

Transparency, some would say, is in the eye of the beholder.

Read the rest of this entry →

LA Times Covers “Sand Land,” Ecological Hazards of Frac Sand Mining in Wisconsin

12:08 am in Uncategorized by Steve Horn

Cross-Posted from DeSmogBlog

On Nov. 19, The Los Angeles Times’ Neela Banerjee, writing from Chippewa County, WI, explained what we covered here in June in our “Sand Land” investigation.

The skinny: mining for frac sand creates a whole slew of problems and must be taken into consideration in the “cradle to grave” equation when quantifying the ecological hazards associated with hydraulic fracturing (“fracking”) for unconventional oil and gas.

“In time, 800 acres of farmland will be mined to feed an energy boom sweeping the United States,” explained Banerjee.

The crystalline silica sand currently being mined from this farm land is blasted into hard rock shale basins during the horizontal drilling process popularly referred to as fracking. This particular fine-grained, circular sand is the perfect shape to break open up pours for shale oil and gas to flow out from under the ground.

“Ground zero for industrial sand mining is western Wisconsin, in counties like Trempealeau, Buffalo and Chippewa,” wrote Banerjee, echoing our findings here on DeSmog. ”At least 60 industrial sand mines are functioning or in the permit process in the area, up from five in 2010…[A] fracked well could use anywhere from 2 million to 5 million pounds of sand.”

The airborne dust eminating from mining for frac sand, a study published by the Occupational Safety and Health Administration (OSHA) recently demonstrated, can lead to silicosis for miners working on site. Comparatively speaking, “little is known about its effect on people who live near mine sites,” Banerjee explained.

University of Wisconsin-Eau Claire’s Crispin Pierce, a toxicologist and head of the environmental public health, believes a comparison between smoking cigarettes and exposure to secondhand smoke is an apt one to make here.

“These are dangerous substances, but what are the levels you’re exposed to if you live near a sand mine or near a rail line where trains filled with sand pass five times a day?” he rhetorically asked The Times.

A “Hopeless” Future?

Community members aren’t happy with the ever-expanding “land grab” unfolding and some have chosen to speak out.

“People here say this is an issue of property rights, that they can do what they want with their land,” Ken Schmitt, a cattle farmer and anti-mining activist told The Times. “But individual rights end when you start affecting others’ health and welfare.”

Others are completely distraught and feel all hope is lost.

“Fighting this just seems so hopeless,” said an anoymous cranberry farmer. “The companies just have so much money. They can just buy everybody. It seems like nothing can stop them. There’s got to be better ways than this.”

From the frac sand mines; to shale gas basins around the world; from the unmonitored and unregulated pipelines that take that fracked gas and ship it to market; and lastly, to LNG export terminals; the unconventional gas industry is destroying the ecological landscape from cradle to grave.