"Two utility companies announced the closure of 10 aging U.S. power plants Wednesday, a move environmental groups hailed as a major victory even as critics warned it could raise the price of electricity."
Juliet Eilperin reports for the Washington Post February 29, 2012.
SEE ALSO:
"NASHUA, N.H. -- With his re-election fate increasingly tied to the price Americans are paying at the gas pump, President Obama asked Congress on Thursday to end $4 billion in subsidies for oil and gas companies and vowed to tackle the country’s long-term energy issues while shunning 'phony election-year promises about lower gas prices.'"
"Senate Energy and Natural Resources Committee Chairman Jeff Bingaman (D-N.M.) will introduce legislation Thursday mandating that power companies generate a major portion of the country’s electricity from low-carbon energy sources."
"GRAND JUNCTION, Colo.—Chevron Corp. is giving up its experimental oil shale lease in northwest Colorado, saying it wants to free up its resources for other priorities."
The Texas utility formerly known as TXU seems to be turning out a big bust for investors. It's a story that goes back to the political and economic failure of the Bush-era plan to build hundreds of coal-fired electric plants -- and the fact that the go-go pace of natural gas drilling has pushed the price of that commodity down for the long term.
"Struck at the peak of the buyout boom five years ago, the $45 billion acquisition of the Texas energy giant TXU — the biggest leveraged buyout in history — has been a painful investment for its private equity owners.
"Move over, Solyndra. Conservatives opposed to the Obama administration's spending on clean energy have a new whipping boy.
The electric Chevrolet Volt is the new focus of angry conservative blog posts, testy congressional hearings and joking videos. And Republican presidential candidates Mitt Romney and Newt Gingrich have taken shots at the car's puny sales and size, with Gingrich jeering, 'You can't put a gun rack on a Volt.'
"TransCanada said Monday that it would reapply for a permit to build the Keystone XL pipeline from Canadian oil sands formations in Alberta to refineries on the Gulf of Mexico, assuring that the fiercely contested project will remain a source of political heat throughout the presidential campaign.
"High levels of winter ozone air pollution have been recorded in a Utah oil and gas field — after the phenomenon was seen in Wyoming — raising concerns that such pollution could become more widespread."
"TRENTON, New Jersey, February 24, 2012 (ENS) - The New Jersey Department of Environmental Protection is downplaying the environmental impact of a large spill from an oil tank at the Paulsboro Refining Company facility in Gloucester County that started Thursday afternoon."
"DETROIT -- Average retail gas prices in Detroit have risen over 25.6 cents per gallon in the past week. According to GasBuddy.com this compares with the national average that has increased 11.3 cents per gallon in the last week to $3.64/gallon."
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