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Natural Resources Defense Council

(U.S.) Senate Climate Bill Dies-Does the Environment Win?

“For over a dozen years, since before the 1997 Kyoto climate summit, the Environmental Defense Fund, the Natural Resources Defense Council, the Pew Charitable Trust and other Big Green groups have been unshakably committed to cap-and-trade. Without bothering to consult grassroots activists or more maverick groups like Greenpeace or Friends of the Earth, Big Green anointed cap-and-trade as its climate mantra and forged a high-minded Beltway alliance with corporate giants like Exelon and GM.”

Charles Komanoff

July 28, 2010

Despite a Democratic supermajority in Congress, and despite President Obama’s campaign promise to tackle global warming, there will be no climate bill this year. The demise last week of the Kerry-Lieberman Senate bill makes that official. But that may actually be a good thing: it clears the way for genuine solutions to global warming­­—solutions that ordinary Americans can understand and support. And remember, most Americans do want their government to tackle climate change. A recent Stanford University poll found that 74 percent of the public believes climate change is human-caused, poses real threats and requires government action.

The bill that was withdrawn last week, like the Waxman-Markey bill that squeaked through the House last year and similar measures dating back to a 2003 Senate bill sponsored by John McCain, would have attempted to curb carbon emissions by creating a cap-and-trade market, a corporate-friendly approach to reducing greenhouse gas emissions. Under this system, a “capped” number of carbon emission permits are offered to coal, oil and gas extractors and importers, who can then sell (trade) the permits among themselves. As the volume of emissions permitted by the cap declined over time, the price of the carbon permits would rise, causing fossil-fuel energy to cost more and creating incentives to use less.

Cap-and-trade was popular inside the Beltway—some business interests and many mainstream environmental groups insisted on it—but it is a total loser in the larger battle to excite and mobilize public opinion. Attacks by climate-change denialists took a toll, but the arcane nature of cap-and-trade made it hard to love, and its links to the financial industry, originally viewed as an asset, turned toxic after the housing bubble burst.

There is a better way. Virtually everyone who truly desires emissions reductions agrees that putting a (rising) price on carbon is essential. But there’s another, better way to do that, one that also would deliver an economic bonus to a majority of Americans: the government should institute a fee-and-dividend system.

Like cap-and-trade, fee-and-dividend would limit emissions by building a fee for carbon emissions into the price of gasoline, coal-fired electricity and other carbon-based fuels, thereby giving consumers and businesses powerful incentives to use less. As in cap-and-trade, the fee would be imposed at the wellhead or import dock, eventually to be passed down the supply chain to consumers. But there are two critical differences.

First, fee-and-dividend would turn the proceeds of these higher energy costs over to the American public to spend as they wish, rather than to corporate emitters to fatten their bottom lines or to Washington lawmakers to lavish on pet projects. Under fee-and-dividend, each and every American would receive a monthly check, which for most people would offset the higher energy prices caused by the fee.

The other difference is a bit technical but is just as key. Under a cap, the price on carbon would be murky, since it would be set in a vast trading market and determined by fluctuating factors like the economic growth rate, consumer and producer price elasticities and hedge bets by speculators. With the carbon fee, the carbon price would be set up front and its rising trajectory known in advance, allowing consumers and entrepreneurs to bank on the future value of saving energy. The price incentive to move away from carbon-emitting fossil fuels would penetrate every crevice of the economy, ensuring that few if any opportunities to reduce climate-changing emissions were left on the table.

Fee-and-dividend is superior to cap-and-trade on grounds of both political appeal and economic efficiency. Here’s how James Hansen, the nation’s pre-eminent climate scientist, contrasted the two approaches in an op-ed in the New York Times last December:

Consider the perverse effect cap and trade has on altruistic actions. Say you decide to buy a small, high-efficiency car. That reduces your emissions, but not your country’s. Instead it allows somebody else to buy a bigger SUV—because the total emissions are set by the cap. In a fee-and-dividend system, every action to reduce emissions—and to keep reducing emissions—would be rewarded. Indeed, knowing that you were saving money by buying a small car might inspire your neighbor to follow suit. Popular demand for efficient vehicles could drive gas-guzzlers off the market. Such snowballing effects could speed us toward a pollution-free world.

Hansen’s example applies equally to renewable energy. Under a cap system, a wind farm, no less than his efficient auto, will lower the price for carbon emission permits, thus undermining the price incentive for other actions that would reduce emissions. In contrast, a carbon fee is immune to this effect, since individual actions have no effect on the legislated carbon price.

But can the environmental movement unite around cap-and-dividend?

For over a dozen years, since before the 1997 Kyoto climate summit, the Environmental Defense Fund, the Natural Resources Defense Council, the Pew Charitable Trust and other Big Green groups have been unshakably committed to cap-and-trade. Without bothering to consult grassroots activists or more maverick groups like Greenpeace or Friends of the Earth, Big Green anointed cap-and-trade as its climate mantra and forged a high-minded Beltway alliance with corporate giants like Exelon and GM.

The idea was to “put a price on carbon,” but in secret. Decision-makers at utilities and auto companies would use economic models to intuit the extent to which mandated declines in the amount of carbon emissions permitted by the cap over time would cause the prices of carbon permits (and, hence, fossil fuels) to rise, and would retool their power plants and products accordingly. But ordinary Americans, ponying up more for electricity and heat and gasoline, wouldn’t know that the declining cap was driving the higher prices.

That was the plan. Alas, though cap-and-trade had functioned well in a kind of pilot program involving electric utilities and acid rain, it wasn’t up to the job of transitioning the American economy from fossil fuels to energy efficiency and renewable sources. To manage that Herculean task in decades rather than centuries, the rising trajectory of fossil fuel prices must be not just steep but plainly visible to all—from the aircraft manufacturer weighing the use of costly exotic materials to raise fuel efficiency, to local officials wrestling with whether a new school should be built in town, near the bus stop and bike lane, or on the car-dependent outskirts. Millions of similar carbon-critical decisions, from the individual level of riding transit and switching light bulbs to the societal level of ensuring that those options are available, attractive and valorized, must be taken with full knowledge of those prices. A stealth price on carbon, one that’s lost in the noise of fluctuating prices and general inflation, won’t do the job.

The fate of the climate—and perhaps the viability of EDF, NRDC et al. as well—may now turn on the environmental lobby’s willingness to embrace the alternative that has been there all along: a revenue-neutral, steadily rising carbon fee, the proceeds from which would be redistributed to Americans via equal monthly dividends—or, in a variant favored by some economists, in which the regressive and anti-jobs payroll tax is phased out as carbon fee revenues ramp up.

A climate bill based on a revenue-neutral and rising carbon fee would not require a cap-and-trade market in carbon derivatives; would be transparent and hence less vulnerable to the K Street carve-outs that turned cap-and-trade bills into laughing stocks; could be imitated internationally (since carbon fees are fungible while carbon caps are not); and wouldn’t require a PhD in complexity to grasp. Indeed, one such bill, America’s Energy Security Trust Fund Act of 2009, sponsored by Connecticut Democrat John Larson, is all of twenty-one pages, versus upwards of 1,500 for the Waxman-Markey cap-and-trade bill that squeaked through the House last year and the similar Kerry-Lieberman bill that just died in the Senate. Yet the emission reductions under the Larson bill would be two to three times as great as those from Waxman-Markey.

A climate bill like the Larson bill would also honor a fundamental tenet of environmentalism: that the costs of pollution must be internalized into the price of the activities that cause it.

We can drive emissions reductions throughout the economy while protecting Americans’ pocketbooks if we reframe the climate debate. Cap-and-trade is dead, and not a moment too soon. With its simplicity, its transparency and its economic rewards for everyone but die-hard polluters, fee-and-dividend could be a political winner. If environmentalists and others who care about averting climate catastrophe can unite around this approach, the public is ready to be convinced and, one hopes, mobilized. And, as two centuries of struggle for racial, labor and gender justice should have taught us, a mobilized public is essential to winning the climate battle.

http://www.thenation.com/senate-climate-bill-dies-does-environment-win

Methane, U.S. Congress & the “well-funded so-called “environmental” groups like EDF and NRDC that have been seduced into the gospel of endless compromise” …

Published on Monday, July 19, 2010 by CommonDreams.org

Methane Seeps, Tipping Points Feared as Congress Sleepwalks

Dangerous Methane Seeping from Siberian Seabeds

by Gary Houser

“Methane is leaking from the East Siberian Arctic Shelf into the atmosphere at an alarming rate… Release of even a fraction of the methane stored in the shelf could trigger abrupt climate warming.”
National Science Foundation press release (March 4, 2010)

As the U.S. Senate finally prepares to bring climate-related legislation to the floor, it has become painfully obvious that the most crucial ingredient in any such debate – a true sense of urgency – is completely absent. Despite the fact that all future life on the planet hangs in the balance and a point of irreversible runaway warming is being rapidly approached, the Senate is proceeding as if it is sleepwalking in a stupor. It has allowed the fossil fuel industry to sabotage all effort at meaningful carbon emission reductions, and will only be considering legislation that is woefully inadequate to prevent catastrophe.

Those who follow this issue likely have familiarity with the concept of “tipping points”. This innocuous-sounding phrase does not do justice to its vast meaning. It refers to the crossing of a line whereby tremendous natural forces are unleashed and an unstoppable rush of interlocking climate disruptions wreak havoc on the earth and its fragile web of life-supporting ecosystems. Once set in motion, it cannot be predicted how far the devastation would extend. Geological records have linked a severe climate shift with the “Great Extinction” event which wiped out a ghastly 90% of all life forms on the planet.

Serving as a direct counterpoint to this disastrous “disconnect” from reality in the Senate is the stunning news that these tipping points may be much closer than previously imagined. Ignored by mainstream media, recent scientific findings have the potential to turn the world as we know it upside down. Situated off the Siberian coast – in an area containing more carbon than that known to exist in all the world’s oil, coal, and natural gas reserves – is the climate threat of all climate threats. Some call it the “Arctic super carbon pool”. Others call it a “methane time bomb”. The reason for this ominous latter description is the quite real threat of an unstoppable chain reaction which could release much or all of this tremendous stockpile. This is a nightmare scenario feared by many tracking the evolution of the climate emergency.

Methane is a particularly powerful greenhouse gas, at least 25 times more potent than carbon dioxide. Once the methane – currently in frozen form – begins to thaw and release gas, it either oxidizes in the water or travels to the surface and enters the atmosphere. If the latter occurs, it can act as a strong warming agent and therefore cause even more of the frozen methane to thaw and release gas. The scientific term for this self-perpetuating cycle is “reinforcing feedback”.

The “conventional wisdom” was that this thawing and venting of methane would not manifest for at least 100 years. But as the case has been with much such “wisdom” these days, scientists have encountered great difficulty in accurately predicting the full consequences of the unprecedented alterations being imposed on the planet by greenhouse gases. The reality of climate disruption has continued to outpace the projections. Recent studies of the Siberian methane show that a very serious amount is already venting to the atmosphere.

In their report (summarized in Chapter 6), researchers Natalia Shakhova and Igor Semiletov describe that methane is now being released across a full 50% of a quite sizable study area in the East Siberian Arctic Shelf. Based on 5100 seawater samples taken from 1080 different locations, they report that 80% of the bottom water and 50% of the surface water is “super-saturated” with methane. Adding to the seriousness is the fact that this methane is not oxidizing in the water. Due to the shallow depths of these seabeds, the methane is traveling directly to the surface and venting into the atmosphere.

Methane is a volatile gas that rapidly expands in volume as it releases. Referring to the giant stockpile in this arctic shelf, Shakhova and Semiletov warn that it is “highly possible for abrupt release at any time. That may cause a 12 time increase of modern atmospheric methane burden with consequent catastrophic greenhouse warming.” As if this information is not unsettling enough, one then encounters the following staggering fact. This entire scenario is being played out in the most rapidly warming geographic location on the planet: “The Arctic is warming more quickly than the rest of the world, and this warming is most pronounced in the arctic shelf.”

Given the potential for such a catastrophic event and with so many factors lining up that could indeed release the trigger, one would expect the collective scientific community to issue a grave warning to the world. If ever there was a time to exercise the precautionary principle, it would be now. Stunningly, the scientific community is failing to do so. Instead, in a classic exhibition of ivory tower disconnectedness – perhaps in combination with a hesitancy brought on by the aggressive attacks of deniers – it is calling for more definitive “proof” that the thawing of methane is directly related to human-generated warming and not being caused by other natural sources.

The stupendously dangerous flaw in this reaction is that by the time such proof is “definitively gathered”, it could well be too late to stop the runaway chain reaction. In a situation where we may already be too late, it is the height of irresponsibility to argue for even more delay. If a blind person appears to be walking toward a cliff and is only three steps away, does a responsible observer guide that person away from the edge or stand back and wait for more proof? In this case, the blind person is all of humanity. The world needs every precious moment it can find to move back from the precipice.

Because of time consumed to document and verify, IPCC (Intergovernmental Panel on Climate Change) reports and projections have been lagging at least two or three years behind what is actually happening in real life. With the thawing of sea-based methane already having been miscalculated, this looming threat that a “methane time bomb” is on the verge of being activated (if indeed it has not already occurred) is only beginning to be addressed by climate modelling and IPCC studies.

The scientific community must immediately ramp up its effort and mobilize whatever resources are needed to either confirm or disprove that this activation is occurring. Even as such effort proceeds, however, it has an immediate and transcendent moral responsibility to issue a strong warning to both policy makers and the public about what is at risk. Testimony to Congress by the National Academy of Sciences that climate disruption is real and human-caused is valuable, but in the current context too measured and mild. It does not convey that humanity is truly perched on a precipice overlooking an abyss. It does not begin to do justice to the monumental urgency of the crisis we are in, how humanity is on the verge of unleashing a beast it will not be able to control.

Why are there so few climate scientists willing to stand beside Jim Hansen and truly speak from their consciences about the disaster that is unfolding? Some say that policy must be left to the policy makers. But it is now obvious that legislation being discussed in Congress is completely out of touch with the scientific reality. The two primary bills – Waxman-Markey and Kerry-Lieberman – were already allowing the industry to stonewall (pdf) actual carbon emission reductions for 15 to 20 years. Now the Senate is capitulating even further. Such a delay would all but guarantee the crossing of tipping points.

We have reached physical limits that cannot be “negotiated” away. Those who have lost their way in the “inside-the-beltway world” of political horse-trading must be brought to recognize this reality before it is too late. This indictment applies not only to the politicians but also the large, well-funded so-called “environmental” groups like EDF and NRDC that have been seduced into the gospel of endless compromise. The passage of such weak and inadequate legislation would constitute a massive triple failure of the scientific community, the mainstream environmental groups, and Congress.

If the scientific community was to empower itself at this time of global emergency and somehow find the much stronger and louder voice that is needed, there is a hope that at least a few members of the Senatemight actually become emboldened to regain their own courage and stand up to the monied interests that have hijacked this legislation. Such legislation could yet become transformed into a saving grace for humanity rather than an unspeakably tragic abdication of moral responsibility.

The “motherlode” of earth’s stockpile of carbon exists on the shallow seabeds off the Siberian coast, for all practical purposes a veritable doomsday beast ready to rise in retribution for humanity’s abuse of the earth and its Faustian bargain with the dark gods of oil and coal. Extremely volatile, it is the same gas believed to have entered both the oil rig in the Gulf and coal mine in West Virginia causing destructive explosions. Some might interpret this as a warning to humanity.

Methane has been found to be thawing and releasing to the surface in 50 percent of a large study area. In a location that is “warming more quickly than the rest of the world”, the release of only one half of one percent of this stockpile has been determined to be capable of causing “abrupt climate change”. If this most feared “feedback” of all – the one which humanity would likely be helpless to stop once activated – has not already started, then it certainly appears that all the factors necessary to trigger it are lining up.

One day, the public release of these findings may hold great significance. It might be seen as the time when at least a handful of scientists tried to warn about the coming disaster. This time might be celebrated as the beginning of the great “wake-up” in which the scientific community spoke out in a unified and bold voice, both policy makers and mainstream enviros re-discovered their backbone, and the cataclysm was avoided. But based on current reality, it may well turn into a time for lamentation. Those clinging for survival in a world ravaged by climate catastrophe may look back with anger and an acute sense of betrayal about the passivity and the silence of those who could have made a difference and mourn the indefensible failure to act while there was still time.

Gary Houser is a public interest writer/columnist, anti-coal campaigner, green energy advocate, and activist with Climate SOS (www.climatesos.org) based in Ohio. He is also seeking support for a broadcast quality documentary on the “methane time bomb”.

http://www.commondreams.org/view/2010/07/19-4

Big Green’s pursuit of carbon cap-and-trade in the U.S. branded the climate movement as servants of Wall Street Elites

Published on Tuesday, July 27, 2010 by Carbon Tax Center

Can Viable Carbon Tax Arise from the Senate’s Ashes?

by Charles Komanoff

And now, ve may begin?

Readers of a certain age, and a certain literary bent, will recognize the words of Alexander Portnoy’s psychiatrist, spoken at the close of Philip Roth’s transgressive 1969 novel, Portnoy’s Complaint.

After lo these many years, they popped into my head last week as I read that Senate Democrats had finally thrown in the towel on an energy bill that would have included a partial cap-and-trade provision for limiting carbon emissions from power plants. The bill, written by Senators John Kerry and Joe Lieberman, was touted by Washington insiders and some major environmental groups as this year’s last hope for federal climate legislation. Yet it would have relied on carbon offsets and other dodges to postpone the day of reckoning with true, visible carbon emissions pricing – the cornerstone of meaningful climate policy.

Instead, reported the New York Times, Senate Democrats will pursue a limited bill aimed at increasing oversight of oil drilling and tightening energy efficiency standards – with no direct assault on climate-destabilizing CO2. (For a later Times story amplifying the first, click here.)

Yes, now, we may begin – “we” being Americans who care about climate, sustainability, and Earth – to unite around a climate approach that is effective, equitable and transparent enough to win the support of our fellow citizens and a Congressional majority.

I’m referring of course to the idea advanced by climatologist Jim Hansen as fee-and-dividend and by the Carbon Tax Center as a revenue-neutral carbon tax, by which fossil fuel extractors and importers pay the U.S. Treasury fees pegged to the carbon content of the coal, oil and gas they take from the ground or bring into U.S. ports, and the Treasury distributes the revenues to all Americans via equal monthly dividends (“green checks”), or by tax-shifting from regressive taxes such as payroll taxes.

The Senate’s antipathy to even the partial cap-and-trade proposed by Sen. Kerry will doubtless be spun as indicating that for the foreseeable future the well for climate legislation has been poisoned. The Carbon Tax Center says that the opposite may be true: with cap-and-trade out of the way at last, the political well can begin to be de-toxified so that the effective, equitable and transparent carbon fee-and-dividend can be seriously considered.

For this to happen, however, the Big Green groups like EDF and NRDC that for years have dominated climate discourse among environmentalists, and that convinced Congressional Democrats and the White House that the only way to “put a price on carbon” in America was via carbon cap-and-trade, will have to abandon that approach and allow others, and themselves, to try a fresh start.

It will be said that cap-and-trade failed because Fox News and other climate deniers branded it as “cap-and-tax” and, therefore, a carbon tax (or fee) cannot possibly succeed. And it is true that carbon cap-and-trade was looked to, years ago, as a way to build on the success of acid rain cap-and-trade, win over Republican free-marketers, and put a price on carbon without having to parade the dreaded t-a-x word before the public.

In the event, though, carbon cap-and-trade did none of these things.

Instead, Big Green’s pursuit of carbon cap-and-trade tethered the climate movement to complex financial instruments and branded us as servants of Wall Street elites. It opened the legislative floodgates to off-the-charts Beltway deal-making that rightly repulsed the public. Perhaps most importantly, the co-optation of climate advocacy by the cap-and-traders robbed us of the high moral ground we might have shared with abolitionists, suffragists, labor agitators and civil rights workers – true American heroes who fought to liberate our society of oppression and injustice.

If you’re in the climate movement, you recognize that fossil fuels’ assault on Earth’s climate is an ultimate form of oppression and injustice: of rich against poor, of the profligate against the frugal, of the present against the future. Ending this assault will require concerted action on many fronts; and it starts by internalizing the climate-damage costs of coal, oil and gas into their prices, so that the free ride for fossil fuels is ended and all of the alternatives, from energy efficiency, renewable energy and low-carbon fuels to conservation-based behavior and mindfulness toward energy consumption, may compete fairly and effectively.

Political action to accomplish this must be done in bright sunlight, not in Beltway shadows.

Cap-and-trade, let us hope, is dead. And now, we may begin!

© 2010 Carbon Tax Center

Charles Komanoff is co-founder of the Carbon Tax Center.

https://www.commondreams.org/view/2010/07/27-5

ENVIROS CRAFT POLITICAL SUICIDE PACT FOR U.S. DEMSOCRATS ON CLIMATE CHANGE

Note: Any politically sentient being should understand that if the strategy suggested below prevails, Democrats will have given Republicans a sword through which it will be even more possible for Republicans to capture Congress. Such a strategy, as suggested below, would allow Republicans to attack Democrats through the rest of the year and certainly into the elections saying that Democrats are plotting to pass cap and trade in a lame duck Congress. While, in truth, there are not and will not be the votes to do that, it will unecessarily provide Republicans with such powerful ammo, that Republican pollsters will likely consider sending the Democratic leaders, and their politcally inept environmental group enablers, a big thank you card after the elections. One can only hope that sanity will prevail.

Environmentalists are pressing Biden and President Barack Obama to amp up their whip operations to give the legislation a chance of passing Congress this year. But one source from a major advocacy group said Wednesday that another option is for the Senate to pass a pared back energy measure now and then go to conference during a lame-duck session with the House-passed climate bill that includes greenhouse gas limits across multiple sectors of the economy. At that point, the source said, anything is possible.

Leaders from the Environmental Defense Fund, Sierra Club and Natural Resources Defense Council are scheduled to meet later Wednesday to map out strategy with Reid, Majority Whip Dick Durbin (D-Ill.) and Caucus Vice-Chairman Chuck Schumer (D-N.Y.).

POLITICO

Dems divided on energy bill
By: Darren Samuelsohn and Coral Davenport
July 21, 2010

Senate Democrats are increasingly divided over whether to move forward on any energy and climate bill in the coming weeks.

On one side are those who say it’s too late to move even a modest energy measure, and are urging colleagues to abandon their efforts and bring up a small package of offshore drilling reforms next week before heading home.

On the other are ardent liberals, who are mounting a last-ditch campaign to push through an ambitious climate bill with a cap on greenhouse gas emissions.

For months, many moderates in the caucus have said that trying to move a climate bill that caps carbon was a bridge too far for this Congress, and they have urged dropping the cap in favor of a modest “energy-only” bill that ramps up renewable energy.

But at a caucus meeting of Senate Democrats on Tuesday, the prevailing feeling was that even that measure doesn’t stand a chance, say people familiar with the meeting. “The meeting mood wasn’t exactly excited about the prospect of doing climate and energy next week,” said one source familiar with it, who also said “not to expect anything but a spill bill.”

West Virginia Democrat Jay Rockefeller said the reason for the mood is a growing expectation that Republicans will block any legislation that’s brought up. “We didn’t discuss [energy and climate] at all at the chairman’s meeting. And that should stun you,” Rockefeller told POLITICO on Wednesday. “We’re trying to figure out, can we do anything? Can we pass anything? Because their idea is they’re going to stop all legislation.”

But advocates of passing a climate bill aren’t backing down – particularly the leading champion for the legislation, Massachusetts Democrat John Kerry, who told POLITICO on Wednesday that he will keep plugging away so long as Congress is in session.

“No, it’s not dead because we’re going to have a lame-duck session and we have weeks ahead of us,” Kerry said. “And the issue is not going away as I’ve said 100,000 times. So it’s not dead at all.”

Kerry got fresh backing Wednesday afternoon from a cohort of twelve liberal Democrats, who wrote to Senate Majority Leader Harry Reid demanding that any energy and climate legislation to be considered in the coming weeks include a cap on carbon emissions.

“ The single most important action we can take to reform our energy policy and make the United States a leader in the global clean energy economy is to make polluters pay for the pollution they emit,” the letter said. “President Obama has consistently called for establishing a price on carbon as part of any comprehensive clean energy legislation Congress passes.”

Democrats are expected to caucus again on Thursday to determine a path forward on a bill, which Reid hopes to bring to the floor next Monday. Democratic leadership aides said Wednesday that there may be a White House presence at Thursday’s meeting.

Kerry and his partner, Sen. Joe Lieberman (I-Conn.), expressed concern Tuesday about the bill’s prospects of reaching the floor before the August recess as electric utility companies press for more time to negotiate complicated provisions of a bill that places limits on their emissions before any other major industrial sector.
Reid had been aiming to release the energy and climate legislation ahead of a floor debate next week, but that schedule appears to be in jeopardy now because of difficulty in finding 60 votes on the carbon pricing piece and the utility industry’s pleadings for more time.

Still, Kerry on Wednesday said he wasn’t ready to rule out action next week. “I don’t even think that is out of the question,” he said. “We have to see where we are on utilities and we have to see where Harry wants to land.”

“Obviously, the clock is pressing on it,” Kerry added.

Kerry met Wednesday morning for breakfast with Vice President Joe Biden where the energy and climate issue came up only “marginally,” Kerry said. Instead, the meeting was mostly about foreign policy.

Environmentalists are pressing Biden and President Barack Obama to amp up their whip operations to give the legislation a chance of passing Congress this year. But one source from a major advocacy group said Wednesday that another option is for the Senate to pass a pared back energy measure now and then go to conference during a lame-duck session with the House-passed climate bill that includes greenhouse gas limits across multiple sectors of the economy. At that point, the source said, anything is possible.

Leaders from the Environmental Defense Fund, Sierra Club and Natural Resources Defense Council are scheduled to meet later Wednesday to map out strategy with Reid, Majority Whip Dick Durbin (D-Ill.) and Caucus Vice-Chairman Chuck Schumer (D-N.Y.).

Kerry and Lieberman said they will continue to work with the electric utility industry after meeting with several top CEOs on Tuesday. The power plant executives also met Tuesday with White House energy and climate adviser Carol Browner.

For now, prospects for the electric utility provisions remain uncertain in the Senate as both moderate Democrats and Republicans say they’re skeptical an agreement can be reached any time soon.

“There is a way in which you could build consensus,” Sen. Olympia Snowe (R-Maine) said on Tuesday. “But whether that can be part of any base energy bill really is highly questionable, I’d expect, because it’d be hard to build consensus on that particular question.”

Snowe said Democrats should consider offering the power plant-first proposal as an amendment to an energy bill, rather than place it in the underlying legislation. But Sen. George Voinovich (R-Ohio), who will unveil a bill later Wednesday to promote nuclear power, said there is no shot of a climate bill with carbon limits passing this year.

“This is going through the motions to satisfy your conference,” he said on Tuesday. “Anybody that’s being intellectually honest has got to say there’s no time to get anything done on climate.”

http://www.politico.com/news/stories/0710/40018.html

Shale gas play and the NRDC

http://www.actforclimatejustice.org/tools-resources/issues/mcj-take-on-corporate-polluters-and-corporate-environmental-organizations/nrdcs-greatest-environmental-hits/

The above link gives more information about the NRDC’s role in a few major betrayals of the environment. One of those included the permitting of 8 coal fired power plants in Texas which the NRDC helped take place. NRDC played a role in the TXU buyout, which betrayed a local environmental coalition seeking a more comprehensive result, instead providing cover for a massive new coal power producer to complete three new plants. N.R.D.C.’s Board Member, Ruben Kraiem, a partner at Covington and Burling (2007), profited from this outcome.

See http://dealbook.blogs.nytimes.com/2007/03/28/txu-investors-round-up-lobbying-team/.

The major beneficiary then was Kohlberg Kravis and Roberts (see www.guardian.co.uk/business/2007/feb/26/privateequity) which has been recently investing in shale gas as per this story: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/06/14/BUEC1DTESV.DTL

Shale gas is perhaps more polluting than coal when life-cycle analysis are considered (see Assessing the Environmental Impacts of Natural Gas from Marcellus Shale) here: http://www.eeb.cornell.edu/howarth/Howarth_Energy%20and%20Environment.html

Natural Resources Defense Council Targeted By Environmental Activists

Published on Tuesday, December 1, 2009 by Huffington Post

Greens vs. Greens as Copenhagen Climate Summit Nears

Natural Resources Defense Council Targeted By Environmental Activists

by Joseph Huff-Hannon

NEW YORK – A phalanx of NYPD officers on foot and aboard several police vans surrounded the marchers as they walked up Sixth Avenue in the cold rain on Monday, at times pushing people off of the street and back on to the sidewalk. A group of roughly 30 climate activists, joined by award-winning NASA scientist and outspoken climate change expert, James Hansen, chanted as they went: "The earth, the earth, the earth is on fire. We don’t need no cap and trade, the market is a liar."

NRDC came in for harsh criticism during a Monday protest in New York City. Activists accuse the NRDC of collaborating with polluters through its involvement with the U.S. Climate Action Partnership (US CAP). (Image: wolfenotes.com)

Was it a satellite Goldman Sachs trading office that brought the greens out to the barricades? The Manhattan offices of a large and influential oil or gas company? The downtown penthouse of a Big Coal mogul? Nope. The soggy climate activists were camped out in front of the headquarters of the Natural Resources Defense Council (NRDC), one of the largest environmental advocacy groups in the country.

The activists accuse the NRDC of collaborating with polluters through its involvement with the U.S. Climate Action Partnership, or U.S. CAP, which is billed on its website as "an alliance of major businesses and leading climate and environmental groups that have come together to call on the federal government to enact legislation requiring significant reductions of greenhouse gas emissions." Members of the group include such corporate heavyweights as The Dow Chemical Company, Ford Motor Company, General Motors, General Electric, Shell, Alcoa, BP America and Caterpillar. Other environmental groups involved in the group include Environmental Defense, the Pew Center on Global Climate Change and World Resources Institute.

U.S. CAP played a pivotal lobbying role in drafting the massive Waxman-Markey climate bill in the House which, while calling for modest emission reductions, will also create an exponentially lucrative carbon trading market. And many of the largest financial institutions that have been deemed "too big to fail" (Goldman Sachs, Bank of America) are expected to cash in on what some activists have begun to call a new system of "climate profiteering."

Outside of the nondescript office building on 20th Street where the crowd eventually assembled, the NYPD set up a row of metal barricades around the entrance in an effort to keep the protesters away from the front entrance. For every three members of the crowd, there was roughly one police officer, with a total of three police vans and three small interceptor vehicles parked in a line out front.

"You have to be a little flattered by that," said Monica Hunken, a protest organizer who spoke to the crowd on a soapbox on the sidewalk. "They even brought out their pen, it’s pretty heavy-handed." That contrasted with the police activity at the launch point for the march — the Bank of America branch on 17th St and 5th Avenue — where the group spoke out about the bank’s investments in mountaintop removal and oil and gas prospecting. No such safety precautions were in evidence at that site.

The demonstration in Manhattan was one of over a dozen organized by the Mobilization for Climate Justice and organizers of BeyondTalk.net, a website that rallies individuals to commit civil disobedience in the name of climate change action. At least one member of the New York contingent did just that, when he attempted to lock himself to the front doors of the building.

"Stopping coal starts with the NRDC," yelled out Robert Jereski, co-founder of New York Climate Action Group, as he was handcuffed and hustled in to a paddy wagon parked up the street. Jereski was eventually charged with "obstruction of governmental administration" and disorderly conduct.

"I stand here at the NRDC building with a heavy heart. I never thought that in 2009 I’d be standing here decrying their stance on climate," said Charles Komanoff, co-director of the Carbon Tax Center. "What NRDC is championing as a big step forward is actually a baby step forward. NRDC is on the wrong side, cutting deals with their pals in business and finance."

"Come back NRDC," yelled out a voice in the crowd. Overall the lament was in line with much of the sentiment of the demonstration, as many participants described their action as an expression of tough love rather than outright opposition. They say that the NRDC has aligned itself with a broader coalition of corporate interests whose goals and benchmarks for reducing carbon emissions are drastically below what is necessary according to prevailing climate science.

"We appreciate the work that the protesters are doing," said Jenny Powers, National Media Director for NRDC, in response. "Overall I think we’re very supportive of any opportunity to bring more attention to this issue. We definitely view it as all of us as being united in the same goal. We’re on the same track, we just deploy different strategies."

Although nobody from NRDC stepped outside to discuss the issues with those at the barricades, Powers did say that Dr. Hansen and Mr. Komanoff were invited via email to a meeting with NRDC Executive Director Peter Lehner.

After the demonstration petered out, I spoke with NASA climate scientist Dr. James Hansen about the meager turnout and the prospects for major policy change going forward.

Hansen, when not publishing and speaking at academic Fora, is no stranger to disobedient protests. This June he was arrested with 30 others during a protest against mountaintop removal mining in West Virginia.

"It’s an indication of where we are, it’s a really screwy situation," said Hansen, wearing a white Gilligan-style hat to ward off the rain. "But despite the small numbers, it’s becoming more widely recognized that cap and trade just won’t work. Country by country doesn’t work. The president should ask the national academy of Scientists to give him a report. Instead he’s getting a 2000 page bill written largely by polluters. We have governments acknowledge that we have a planet in peril, but they’re not doing anything."

As for the unusual tableau of a group of environmental activists demonstrating outside the offices of an organization peopled by environmental activists, Rocco Ferrer had an interesting take on the dynamic. "It’s like NRDC used to be Lou Reed," said Ferrer, a young environmental activist and fashion consultant who participated in the demonstration. "But now they’re more like the Jonas Brothers."

http://www.commondreams.org/headline/2009/12/01-10

Environmental Activists Target Big “Greens” For Link to Corporate Polluters

For Immediate Release:

April 1, 2010

CONTACTS:

Brihannala Morgan (415) 341-7051

Matt Wilkerson (828) 622-9525

Environmental Activists Target Big “Greens” For Link to Corporate Polluters

Fossil Fool’s Day Protests Set for 30 Cities; Target Coal, Oil, Natural Gas and Big Banks

SAN FRANCISCO—More than 30 cities throughout North America have organized demonstrations against the fossil fuel industry, corporate banks and big environmental organizations for April 1’st national Fossil ‘Fools’ Day. Demonstrations are being coordinated by Rising Tide North America , which has also launched an online campaign targeting “Big Green” groups that have taken money from the worst corporate polluters. Key targets of the campaign include Conservation International, Natural Resources Defense Council (NRDC), National Wildlife Federation and Environmental Defense.

The National Day of Action – organized by Rising Tide North America, Mountain Justice, a coalition of Canadian climate activists and others – will feature clownish parades, flyering, subversive advertising, creative street theater, and non-violent direct actions targeting the coal, oil, natural gas and banking sectors. Cities where actions will take place include Asheville, Boulder, Chicago, Edmonton, New York, Philadelphia, Phoenix, Portland, Ottawa, Salt Lake City, San Francisco, Seattle, Toronto and Washington D.C. Corporations targeted will include Chevron, JPMorgan Chase, NW Natural Gas, Pepco and Shell.

“Extractive industries are holding our climate and our communities’ hostage,” said Lacy MacAuley, an organizer of the Washington D.C. actions. “I am participating in this Day of Action to tell fossil fools, like JPMorgan Chase and Pepco, that their destructive investments are threatening our homes, our communities, and our climate.”

In conjunction with protests across the country, Rising Tide North America is launching an online campaign targeting environmental NGOs criticized for taking donations from some of the worst corporate polluters. Groups like the National Wildlife Federation, Conservation International, Environmental Defense, and NRDC are being accused of allowing their financial and political relationships with Corporate America to compromise their positions on climate change. Beginning in the 1980’s, the National Wildlife Federation pioneered fundraising strategies based on taking money from polluters like Shell and BP in exchange for forestalling real critiques of the companies behavior. This practice has become systemic amongst the Big “Green” groups and Thursday’s online action will demand an end to it.

“In Dec. 2009, we received a wakeup call in Copenhagen where the world’s governments failed to enact effective climate legislation and many large players in the environmental movement were neutralized by decades of compromise and corruption,” said Matt Wilkerson of Rising Tide North America. “A grassroots movement of environmental justice groups, climate justice groups, Indigenous peoples, frontline communities and energized activist networks are mobilizing to counter the toxic influence of industry and their proxies in big environmental NGOs over policy and public opinion. Professional environmentalists have sold us out to greedy corporations and it’s time regular people took the lead in solving this grave ecological crisis.”

In the past decade, climate change and climate justice have gone from issues discussed amongst scientists and policy experts to being the impetus for a growing international movement that has stopped dozens of proposed coal fired power plants, directly challenged entrenched interests in the Canadian tar sands and Appalachian mining industry and worked in solidarity with frontline communities. After Copenhagen, the grassroots climate movement will shift its attention from negotiations and compromise to more frontline and anti-corporate struggles.

Fossil Fools Day began in 2004 with coordinated actions across the United States and Canada. Events are held in many cities around the world. These events oppose energy derived from fossil fuels, promote education about alternative sources of energy, and encourage support for climate justice, sustainable communities, corporate responsibility and a clean renewable energy future.

###

Rising Tide North America’s Online Action calling on the “Big Green” groups to stop taking corporate polluter’s donations – http://bit.ly/aVhTGH

Rising Tide North America recently released a new publication called “The Climate Movement is Dead: Long Live the Climate Movement” critiquing the relationship between the green groups and Corporate America.

For more information, visit fossilfoolsday

Rising Tide North America is an all-volunteer decentralized network with over 50 local chapters and contacts throughout Canada, Mexico and the United States challenging the root causes of climate change.

Campaign to Correct NRDC Continues at Bar Association

March 10, 2010

NRDC again was targeted for supporting gas drilling in NYS and beyond

By Kerry

A coordinated campaign to challenge the promotion of gas drilling by the Natural Resources Defense Council, a corporate-friendly environmental organization which has come under fire in recent years for its controversial stances, funding sources, and what-some-perceive as a Board of Directors with many conflicts of interests between their ties to polluting industry and the mission of the organization expanded into Midtown today.

Related: NRDC Blasted For Gas Drilling Support: Activists exposed NRDC’s support for gas drilling at Green Drinks event in West Village

Keywords: News, Bronx, Nature,

A coordinated campaign to challenge the promotion of gas drilling by the Natural Resources Defense Council, a corporate-friendly environmental organization which has come under fire in recent years for its controversial stances, funding sources, and what-some-perceive as a Board of Directors with many conflicts of interests between their ties to polluting industry and the mission of the organization expanded into Midtown today.

Activists crashed the event:

Marcellus Shale: Shall We Drill?

Co-sponsored by the New York City Bar Environmental Law Committee and the Environmental Law Institute

at the New York City Bar Association

the Moderator: Jeff Gracer, Sive, Paget & Riesel, P.C. and the Panelists: Kate Sinding, NRDC Thomas West, Counsel for Chesapeake Energy Corporation Hilary Meltzer, New York City Corporation Counsel’s Office The activity was promoted by the NYC Environmental Meetup Group although all of the panelists support gas drilling.

Fliers distributed stated: Stop Greenwash Natural Resources Defense Council (NRDC)

The NRDC has been an incredibly destructive force for the environmental movement in the United States. Now Greendrinks is providing legitimacy for this corporate “environmental” group.

But the NRDC supports gas drilling!

They have partnered with the worst polluting industry as part of the United States Climate Action Partnership to greenwash these industries’ role in polluting the local and global environment. USCAP advocates for: • Continued use of coal for decades • New Nuclear power plants • Targets for carbon stabilization of 450-550 ppm (when the entire world knows that 350 ppm is the outer limit of what we need to aim for to avoid catastrophic environmental destruction.

Ask NRDC to explain their betrayal inside. Or ask Greendrinks why NRDC is being allowed to our green party. Greendrinks has a sponsorship program – is NRDC appearing under that guise, and paying to present their greenwash?

See these websites for more information on NRDC polluter greenwash and the threat their support for ‘natural gas poses to the environment of New York State:

http://www.actforclimatejustice.org/tools-resources/mcj-take-on-corportate-polluters-and-corporate-environmental-organizations/ www.un-naturalgas.org

Stop Greenwash by the Natural Resources Defense Council (NRDC)

The NRDC has been an incredibly destructive force for the environmental movement in the United States. Now Greendrinks is providing legitimacy for this corporate “environmental” group. • But the NRDC supports gas drilling! • They have partnered with the worst polluting industry as part of the United States Climate Action Partnership to greenwash these industries’ role in polluting the local and global environment. USCAP advocates for: • Continued use of coal for decades • New Nuclear power plants • Targets for carbon stabilization of 450-550 ppm (when the entire world knows that 350 ppm is the outer limit of what we need to aim for to avoid catastrophic environmental destruction.

Ask NRDC to explain their betrayal inside. Or ask Greendrinks why NRDC is being allowed to our green party. Greendrinks has a sponsorship program – is NRDC appearing under that guise, and paying to present their greenwash?

See these websites for more information on NRDC polluter greenwash and the threat their support for ‘natural gas poses to the environment of New York State:

http://www.actforclimatejustice.org/tools-resources/mcj-take-on-corportate-polluters-and-corporate-environmental-organizations/ www.un-naturalgas.org

By Kerry http://www.climatesos.org/

Download Article (PDF) Add to PDF Compilation Download PDF Compilation

WATCH | Brazil: The Money Tree | NRDC Exploitation

This story is a joint project of FRONTLINE/World and the Center for Investigative Reporting, in association with Mother Jones magazine.
“Brazil: The Money Tree” was produced by Andrés Cediel and co-produced by Daniela Broitman.

http://www.pbs.org/frontlineworld/stories/carbonwatch/moneytree/

NRDC Conflicts of Interest

A Cursory Analysis to Prompt Further Examination by An Inquiring Press Corp.

The Declared Mission of the Natural Resources Defense Council (NRDC) is, ostensibly, “to foster the fundamental right of all people to have a voice in decisions that affect their environment. We seek to break down the pattern of disproportionate environmental burdens borne by people of color and others who face social or economic inequities. Ultimately, NRDC strives to help create a new way of life for humankind, one that can be sustained indefinitely without fouling or depleting the resources that support all life on Earth”.

When considering a few examples (below) of their Board Members’ financial interests, please consider what inclination the NRDC will have to work against the financial interests of their Board Members, when deciding on the organization’s position regarding pressing environmental issues. Would they, for instance, stand against their Board Members’ interests if these stand to profit greatly from a neo-liberal trade agreements like the North American Free Trade Agreement (or the Colombia FTA) or from a deal with a major coal plant operator (like TXU) or an oil company that wants to cut a road deep into the Ecuadorian Amazon (like Conoco)?

(See here for details on anti-environmental positions taken by the NRDC.)

Based on the interests of Board Members of the NRDC, the ‘environmental’ organization’s advocacy for a dangerously inadequate U.S. climate policy comes off as self-dealing and self-serving.

    The Business Interests of Some NRDC Board Members

1. Richard E. Ayres, Esq.
The Ayres Law Group
We assist clients in high stakes regulatory proceedings, both informal and formal. We counsel clients on how to use the regulatory process to their own benefit often helping design regulatory proposals to be taken to EPA or important state pollution control agencies. We help our clients to understand what environmental regulations require – and don’t require – so they can stay in compliance and still achieve their business objectives. And we help those who may have enforcement issues with the Environmental Protection Agency.

2. Henry R. Breck, Trustee and Finance Chair of N.R.D.C.
Partner, Heronetta Holdings
Former member of the CIA and investment banker at Lehman Brothers. Also Chair of the Lehman Management Company.
See here and here.

Henry R. Breck has been Chairman of Ark Asset Management Co., Inc., a money management firm with $13 billion under management, since 1989. Previously, he was an investment banker at Lehman Brothers and Chairman of Lehman Management Company, the predecessor company to Ark Asset Management. Mr. Breck joined Lehman Brothers in 1968 and was made a partner in 1972. Prior to his investment banking career, Mr. Breck was employed by the Central Intelligence Agency. He also served in the United States Air Force.

The NRDC website, interestingly, changed from an earlier version which listed Breck’s association as Chair of Ark Asset Management. That’s confirmed here.

While Heronetta Holdings is quite opaque, Ark Asset Management is well known:

Ark Asset Management has three subsidiaries
(http://www.transnationale.org/companies/ark_asset_management.php) :
Covance, Inc., formerly, Hazleton Labs, Ralcorp Holdings, Inc, and Wolverine World Wide

Wolverine World Wide has holdings in Amgen, Apache Corp, Anadarko Petroleum, Bank of America, Chevron, Citigroup, Clorox (in 2002), ConocoPhillips, Dow (2002), Duke Energy, Exxonmobil, Freeport McMoran, Gap, General Electric, Halliburton, International Paper (2002), JP Morgan, Kimberly Clarke, Marathon Oil, Merck (2002), Merrill Lynch, National Oilwell Varko Inc,, Newmont Mining, Oil States International, Pfizer, Phillips Petroleum (2002), Pioneer Drilling, Precision Drilling Corp, Reliant Energy (2002), Royal Dutch Petroleum, United Technologies.

http://www.secinfo.com/dR92z.se.htm

Mr. Breck is also on the boards of Butler Capital Corporation and ASA Limited.

http://www.sec.gov/cgi-bin/own-disp?action=getissuer&CIK=0001230869

However, Breck is not listed as on the ASA board through their own website:

http://www.asaltd.com/about/bodirectors.asp

ASA Limited is a closed-end management investment company. The Company provides investors a vehicle to invest in a portfolio consisting primarily of the stocks of companies engaged in the exploration, mining or processing of gold, silver, platinum, diamonds or other precious minerals. The Company may invest in gold, silver and platinum bullion or securities. These securities seek to replicate the price movement of gold, silver or platinum bullion.

3. Ruben Kraiem, Partner, Covington and Burling
Rubén Kraiem is a partner at Covington & Burling LLP, where he co-chairs, with Stuart Eizenstat, the firm’s Carbon Markets, Climate Change and Clean Technology practice. His practice includes transactional work on behalf of investors and institutions in the carbon markets. He is involved also in legislative work on behalf of clients engaged in the climate change policy debate. Most recently, he was involved in promoting the proposed acquisition of TXU which resulted in three massive coal plants being built in Texas. Mr. Kraiem is an advisor to the Coalition for Rainforest Nations, and in this capacity he attended the Bali Conference on Climate Change (COP-13) in December, 2007. He is also an Adjunct Professor at the Fordham Law School.

C&B’s practice in the Energy area:
We represent investor-owned utilities, independent power producers, local distribution companies, natural gas pipelines, energy marketers and traders, oil and gas producers, wind producers, electric cooperatives, large end-users, financiers, project developers, institutional equity investors, a coalition of electric generators, transmitters, distributors, and consumers, and project advisory firms in a wide range of regulatory, corporate, and legislative energy matters.

C&B’s practice in the Nuclear area: (note the revolving door)
The former Chairman of the Nuclear Regulatory Commission, Dr. Richard Meserve, has rejoined the firm and brings extensive experience on nuclear matters. We can provide experienced counseling and advisory services in connection with nuclear matters arising at the state and federal level.

4. Frederick A.O. Schwarz, Jr.; Chair Emeritus
Senior Counsel, Cravath, Swaine & Moore
Some of their clients as found at http://www.cravath.com/Cravath.html
Here are a few choice few of the most environmentally destructive ones:
Weyerhaeuser Company
In 2007, we represented Weyerhaeuser in the merger of its fine paper business with Domtar Inc. for approximately US$3.3 billion.

Freeport-McMoran Copper & Gold Inc. – Phelps Dodge Corp.
In 2007, we advised JPMorgan Chase and Merrill Lynch, as lead arrangers and underwriters, in connection with the financing of Freeport-McMoran’s purchase of Phelps Dodge for approximately US$23 billion, the largest mining acquisition on record.

Petroplus Holdings AG
In 2006, we represented the global coordinators (Credit Suisse and Morgan Stanley) in connection with the CHF2.52 billion (equivalent to US$2.1 billion) 144A/Reg. S initial public offering of registered shares of Petroplus Holdings AG, one of the largest independent refiners and suppliers of unbranded petroleum products in Europe. The shares were listed on the SWX Swiss Exchange.

LS Power Equity Advisors, LLC
In 2006, we represented LS Power Equity Advisors, LLC in connection with a sale of assets to, and joint venture with, Dynegy.

Southern Peru Copper Corporation
In 2005, we represented the underwriters (led by Citigroup and UBS Investment Bank) in connection with the US$947 million registered common stock offering of Southern Peru Copper Corporation, the world’s largest publicly traded copper company as measured by reserves. The shares were listed on the New York Stock Exchange and the Lima Stock Exchange.

Latin America
We have represented Vitro, Mexico’s largest glass maker, AmBev, the Brazilian beverage manufacturer, and GP Investimentos in a variety of transactions. In addition, we have represented JPMorgan Securities and Citigroup, as lead underwriters, in connection with the securities offerings of South American businesses, particularly in the pulp and paper manufacturing and mining sectors, which involve significant environmental issues.

5. Robert J. Fisher; Vice Chair, Director, GAP Inc.

http://www.gapsucks.org/gwa/history/wsj/

6. Michel Gelobter, Ph.D.
Founder, CEO, Cooler Inc.
“Cooler is an on-line, for-profit venture that enables consumers and retailers to buy and sell millions of everyday goods and services while offsetting their global warming impacts. ”
http://www.nelson.wisc.edu/news/stories/2008/gelobter.htm

NRDC’s Finances

The NRDC’s 2007 financial statement also reveals their millions of dollars of investment in the fossil fuel industry. Can we really expect them to be pushing for a transition towards renewables (i.e. not hydrocarbons or biofuels/biomass) when they are heavily invested in those? Two lines of credit from top carbon trading promoting banks – Bank of America and JP Morgan Chase – extend to NRDC 10s of millions of dollars at low interest.

The NRDC’s most recent financial statement has them investing $23 million of their endowment with the biggest underwriter of coal operations in the U.S., the Bank of America. It also shows the NRDC heavily invested in the Carlyle Group widely considered as profiting from no-bid contracts in an illegal invasion of a sovereign country launched to secure hydrocarbons. The Carlyle Group funds also include major holdings in the fossil fuel industry itself. These include massive ethanol biofuel and toxic gas infrastructure and service companies, like the major oil and gas player Cobalt, which seeks to extract oil and gas from the Gulf of Mexico and Africa, and Gibson Energy which provides “midstream services” to the oil and gas industry, services which have found their way to providing ’solutions’ to accessing hydrocarbons in Western Canada.

There are other intriguing Board Members to research for enquiring minds at the following link (a few are listed below):

http://www.nrdc.org/about/board.asp

Adam Albright; Vice Chair, Private investor; Environmentalist

Susan Crown, Principal, Henry Crown and Company; Executive, Foundation Chair, Community
Activist
Henry Crown and Company has holdings in Aspen Ski Resort.

http://biz.yahoo.com/ic/40/40214.html

Also in oil and gas:

http://investing.businessweek.com/businessweek/research/stocks/private/snapshot.asp?privcapId=4304111

They are also an opaque investment company. So more info appreciated.

Bob Epstein
Co-Founder, Sybase, Inc., and Environmental Entrepreneurs (E2); Organizer and Director, New Resource Bank

Environmental Entrepreneurs – a few of these people w/links to both Hill & Knowlton (http://www.prwatch.org/search/node/hill+knowlton) and the NRDC; Creepy cousins

http://www.e2.org/jsp/controller?cmd=liqleader

Jill Tate Higgins, Private investor; General Partner, Lakeside Enterprises, L.P.
Nothing on her/Lakeside except that she’s also in E2

Bob Kerrey, President, The New School

Philip B. Korsant, Managing Member, Korsant Partners

http://www.secinfo.com/$/SEC/Name.asp?S=philip+b.+korsant

Maya Lin, Artist; Designer – Maya Lin was the proposed architect for a proposed paper de-inking facility on the South South Bronx waterfront, which was championed by NRDC. It took Bronx-wide mobilization to defeat this environmentally unjust project.

Philip (Pete) Ruegger III, Chair, Executive Committee, Simpson, Thatcher & Bartlett
Christine H. Russell, Ph.D., Environmentalist; Foundation director
Wendy Schmidt, President, The Schmidt Family Foundation; Founder, The 11th Hour Project
Max Stone, Managing Director, D.E. Shaw & Company, L.P.
Elizabeth Wiatt, Environmentalist; Founder, Leadership Council

HONORARY TRUSTEES
Dean E. Abrahamson, M.D., Ph.D., Professor Emeritus, Humphrey Institute of Public Affairs, University of Minnesota
Robert O. Blake, U.S. Ambassador (retired)
Joan K. Davidson, Former Parks Commissioner, NY State; President Emeritus, The J.M. Kaplan
Fund
Frederick A. Terry, Jr.. Senior Counsel, Sullivan & Cromwell

http://www.actforclimatejustice.org/tools-resources/mcj-take-on-corportate-polluters-and-corporate-environmental-organizations/nrdc-conflicts-of-interest/