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Posts Tagged ‘financial crisis’



Obama warns of “irreversible catastrophe” on climate, says he will not deny facts

By Simon Leufstedt on January 28th, 2009

President Barack ObamaYesterday Barack Obama delivered a speech about jobs, energy independence, and climate change as he “will direct federal regulators to move swiftly to grant California and 13 other states the right to set strict automobile emissions and fuel efficiency standards,” the NYT reports.

“The directive makes good on an Obama campaign pledge and signifies a sharp reversal of Bush administration policy. Granting California and the other states the right to regulate tailpipe emissions would be one of the most emphatic actions Mr. Obama could take to quickly put his stamp on environmental policy.”

In the speech Obama said that “no single issue is as fundamental to our future as energy” and that the dependence on oil is “one of the most serious threats” USA has faced.

“At a time of such great challenge for America, no single issue is as fundamental to our future as energy.

America’s dependence on oil is one of the most serious threats that our nation has faced. It bankrolls dictators, pays for nuclear proliferation and funds both sides of our struggle against terrorism. It puts the American people at the mercy of shifting gas prices, stifles innovation, and sets back our ability to compete.

These urgent dangers to our national and economic security are compounded by the long-term threat of climate change, which, if left unchecked, could result in violent conflict, terrible storms, shrinking coastlines, and irreversible catastrophe.”

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Big 3 will continue to sue the Government to prevent stricter fuel-efficiency standards

By Simon Leufstedt on January 28th, 2009

New car ad
Creative Commons License Photo credit: Ateo Fiel

After getting bailed out by the American public the “big three” in USA still show that they can’t be trusted. For years these failed auto companies have resisted and done everything in their powers to stop stronger compulsory MPG and CO2 emission standards, denied climate change and their promises that they could cut their greenhouse gases voluntarily have all failed.

If you thought the bailout would help put pressure on the big three to start shifting their production to more environmental friendly vehicles, that the consumers actually wants, you thought wrong. These failed auto makers have no intent in stopping their resistant for sane technology change after getting bailed out:

“In a telephone interview this morning, Charles Territo, a spokesman for the Alliance of Automobile Manufacturers, which is a party to two of the lawsuits now in federal court, said that the association had no intention of altering its strategy just because some of its members had recently received billions in public money.

“Keep in mind that the money that was given was one to two manufacturers [GM and Chrysler],” he said. “And all manufacturers have opposed the standards. Those lawsuits were brought by the entire industry, to protect the longstanding federal law that says that fuel efficiency standards should be set at the federal level and not by individual states.””

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Tax cuts instead of public transportation in Obama’s stimulus package

By Simon Leufstedt on January 26th, 2009

Obama Stimulus PackageJust days after his inauguration it seems we will see the first letdown from President Barack Obama. In the stimulus package, proposed by Obama, which is designed to ease the financial crisis only 18% of the money will go to infrastructure, such as public transportation systems and a more modern and energy efficient electrical grid.

It seems that Obama in a foolish effort to please the Republicans have agreed to allow over 30% of the stimulus package to go towards pointless tax cuts. Democrat Peter DeFazio, of Oregon’s 4th Congressional District, interviewed by Rachel Maddow puts the blame on the Republicans and Lawrence Summers, Obama’s own adviser:

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Obama on 60 Minutes: “We go from shock to trance and that has to be broken”

By Simon Leufstedt on November 18th, 2008

In his first interview since the election Barack Obama talked with 60 Minutes about the economy, energy and about the failing auto industry in USA.

In the interview Obama said that “the challenges that we’re confronting are enormous” and many, and that he sometimes asks himself “where do I start?” Obama also said that the American people are looking for “action” instead of “a lot of speeches”.

I would just like to add that the whole world is looking for action, not just the American people. Watch the interview below:

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Let GM and the other failed auto giants go under

By Simon Leufstedt on November 14th, 2008

Time
Creative Commons License Photo credit: davetrainer

Trevor Reichman over at TreeHugger asks why GM and the other corporate giants in the auto industry seeks $50 billion in public funding, while no one mentions help for public transportation.

Reichman points out that the demand for fuel in USA is decreasing and that an increase in travellers on public transportation shows that “Americans are willing to drive less”. So why should the US government even think that a “wasteful and economicly demanding invention from last century” is needed when there are other and better alternatives available.

“Instead of handing over 50 billion dollars to an industry that cannot be sustained at its peak level, public funds can be better used to fund rails, buses, and bicycle pedestrian projects that have already been engineered, already been proven, and are just waiting for funding. While GM and friends seek roughly $165 per American, there is no clear or specific plan for how that money will be used to benefit the public or save jobs.”

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“The solution to the climate crisis will also help us solve the economic crisis”

By Simon Leufstedt on November 2nd, 2008

gore 2008
Creative Commons License Photo credit: bunnicula

Al Gore writes that the next President of USA “must take immediate steps to deal with” climate change:

In one week Americans will go to the polls and elect our next President. Whoever wins, (and I certainly hope and believe it will be Barack Obama) must take immediate steps to deal with the climate crisis.

[…]

The challenges we face are immense – a global economy in crisis, and two ongoing wars. However, the solution to the climate crisis will also help us solve the economic crisis by putting people to work in green jobs and stimulating the economy with the large investment necessary to convert our energy infrastructure to renewable energy.

Read why Barack Obama should be the next President of the United States of America.

UN says that the current financial crisis could hasten green growth

By Simon Leufstedt on October 24th, 2008

Yvo de Boer, who heads the Bonn-based U.N. Climate Change Secretariat, is a bit more optimistic about the current financial crisis than George Monbiot is. Yvo de Boer says that the current financial crisis could “hasten” countries efforts to create a greener and more sustainable economy.

“The credit crisis can be used to make progress in a new direction, an opportunity for global green economic growth,” Yvo de Boer told a news conference.

“The credit crunch I believe is an opportunity to rebuild the financial system that would underpin sustainable growth,” and that “governments now have an opportunity to create and enforce policy which stimulates private competition to fund clean industry”, Yvo de Boer said.

Yvo de Boer said that to be able to “create new markets, investment opportunities and job creation” the climate meeting in Copenhagen, Denmark, in December 2009 must be successful.

Read the whole interview over at wbcsd.org

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