In one of the most significant reversals of Bush-era policy, the Obama administration plans tomorrow to issue greenhouse pollution limits for new power plants, a major step in the fight against global warming. The new rule — which will go into effect in 2013 — confirms the end of the era of dirty coal-fired power plants:

The proposed rule — years in the making and approved by the White House after months of review — will require any new power plant to emit no more than 1,000 pounds of carbon dioxide per megawatt of electricity produced. The average U.S. natural gas plant, which emits between 800 and 850 pounds of CO2 per megawatt, meets that standard; coal plants emit an average of 1,768 pounds of carbon dioxide per megawatt.

Since the late 1990s, “natural gas has been the fuel of choice for the majority of new generating units,” and in the 2000s, wind power generation also grew significantly. With the high cost of its toxic pollution from mine to plant, coal has been losing out to cleaner sources of fuel in the electric utility sector. Although few new coal plants have been built in the last twenty years, aging plants — some built in the 1930s — still produce about 40 percent of U.S. electricity, and about 80 percent of carbon pollution from the power sector.

In March 2001, newly elected President George W. Bush reversed a campaign pledge to limit greenhouse pollution from power plants, the source of 40 percent of United States global warming pollution. In 2008, Bush White House officials refused to open an email sent by its own Environmental Protection Agency which called for action against man-made climate change.

“This is the third major executive action launched by the Obama administration to reduce carbon pollution,” writes Center for American Progress senior fellow Daniel Weiss. “With growing evidence that the serious impacts of climate change are already here, President Obama deserves credit for this new standard. We must urgently adopt and implement these new pollution reduction standards for power plants.”

by Peter Sinclair, via Climate Denial Crock of the Week

Mike MacCracken was the first high level climate scientist that Al Gore introduced me to in Nashville, some 5 years ago. Although I knew something about the issue, and had some background reading and writing about energy and environment – Mike very quickly made me realize how much I had wrong,  and how much I had to learn. He has been a reliable and generous advisor and mentor ever since. I owe him a lot for his patience in answering questions and pointing me to people and resources I needed to be aware of.

A few months ago, I became aware of a video of Mike’s presentation on Climate Change at Sandia Labs in  August 1982. The contrast between what scientists already knew even 30 years ago, and the pathetically slow response to this gathering storm, prompted me to want to find out what Mike was thinking now, with three decades of perspective.

I interviewed Mike at the Universty of Michigan in February, where we both attended a climate conference a the Erb School for Global Sustainable Enterprise.\ (he was invited. I kind of crashed the party and was allowed to hang out.)

Exxon Mobil, the most profitable of the big five oil companies, made $41.1 billion in profits last year. Although Exxon made 35 percent more profits since 2010, its estimated effective tax rate actually dropped. Citizens for Tax Justice reported Exxon paid only 17.6 percent taxes in 2010, lower than the average American, and a Reuters analysis using the same criteria estimates that Exxon will pay only 13 percent in effective taxes for 2011. Exxon paid zero taxes to the federal government in 2009.

Reuters compares the 45 percent tax rate Exxon claims it pays to the effective rate estimated by Citizens for Tax Justice — a rate that’s even lower than Mitt Romney’s tax rate. Chevron, which made $26.9 billion profit in 2011, paid 19 percent:

Citizens for Tax Justice considers U.S. profits and U.S. taxes paid only. By that measure, Exxon Mobil paid 13 percent of its U.S. income in taxes after deductions and benefits in 2011, according to a Reuters calculation of securities filings.

It is a far cry from the 35 percent top corporate tax rate.

Still, the three-year average for telecom companies is 8 percent; for information technology services companies, it is 2.5 percent, according to CTJ.

Chevron CEO John Watson recently claimed “We’re the highest taxed industry that I’m aware of” while the American Petroleum Institute has claimed the industry pays a tax rate at more than 40 percent. But as Reuters explains, the oil industry uses a different methodology to claim it pays an artificially higher tax rate to the public. The industry “lumps together U.S. and foreign taxes. It includes taxes that are deferred and thus not paid yet. U.S. companies must pay taxes on profits earned abroad, but they can defer these taxes until they bring the cash into the country.” The big five use this tactic of hoarding cash oversees in tax havens, cutting their tax rates drastically. Exxon uses at least 20 tax shelters. These tax loopholes permit Exxon to pay a rate in-line with Mitt Romney, who’s also notorious for tax dodging.