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November 8 News: Coal Stocks Plunge Post-Election

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"November 8 News: Coal Stocks Plunge Post-Election"

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Investors wasted no time running from what had been a nice little three-month rally in coal stocks ahead of the 2012 presidential election. [Market Watch]

US President Barack Obama has hinted he will make another push to fight climate change after cruising to a new term, but his room for maneuver will be limited even with a new focus after megastorm Sandy. [AFP]

Barack Obama’s invocation of “the destructive power of a warming planet” in his victory speech has stoked expectation that he will act on climate change in his second term. Environmental campaigners are already mobilising to hold the president to that promise. [Guardian]

President Obama’s reelection, along with key wins by Senate Democrats, ensures that the federal government will press ahead with efforts to promote renewable energy and energy efficiency and to curb greenhouse gas emissions linked to climate change. [Washington Post]

For all the punditry about a coming Republican civil war, it’s not clear that the party really wants to change in any serious way — or that it could change if it wanted to. [Time]

Bill McKibben kicked off a national campaign Wednesday night at Benaroya Hall that seeks to demonize the oil and coal industries, and those who profit from them. [Seattle Times]

Japan is sidestepping multilateral efforts to limit greenhouse-gas emissions, working with Indonesia and other Asian countries on a bilateral basis to tackle climate change. [Wall Street Journal]

The impact of climate change on key food crops in Africa and South Asia may be much worse than previously estimated — with reductions of up to 40 percent by the 2080s — according to a study, which synthesised results from related studies published over the last 20 years. [AlertNet]

The collapse of sardine fisheries in the southern Caribbean during the past decade may have been driven by global climate change, according to a study. [Guardian]

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17 Responses to November 8 News: Coal Stocks Plunge Post-Election

  1. Mark E says:

    Hooray! Just leave the damn stuff in the ground…..

  2. Joan Savage says:

    Southern Hemisphere summer

    From BBC:

    Argentina’s capital, Buenos Aires, was hit by a major blackout that left more than a million homes without power and caused rush hour traffic jams.

    Electricity also went off at the Congress building and presidential palace.

    Power was back on in most districts by late Wednesday evening.

    The electricity company said two high voltage lines had failed, amid record demand for energy after three days of high temperatures.

    http://www.bbc.co.uk/news/world-latin-america-20249182

  3. fj says:

    Most importantly, we must rapidly move outside our comfort zones and give our leaders the huge amount of political capital required to act on climate change at wartime speed.

  4. Anne says:

    re: “Bill McKibben kicked off a national campaign Wednesday night at Benaroya Hall that seeks to demonize the oil and coal industries, and those who profit from them.”

    I think the rule of thumb is that demons don’t need to be “demonized” — all you need is a big, bright, shiny light to expose the demon-like qualities. Innocents get demonized, demons get outed. But the point is made, nonetheless. Burning coal has become immoral. Period.

  5. Paul Magnus says:

    Woohooo

    Climate Portals shared a link.

    Obama May Levy Carbon Tax to Cut the U.S. Deficit, HSBC Says
    http://www.bloomberg.com
    Barack Obama may consider introducing a tax on carbon emissions to help cut the U.S. budget deficit after winning a second term as president, according to HSBC Holdings Plc.

    • Paul Magnus says:

      $20 and rising would solve it…

      “A tax starting at $20 a metric ton of carbon dioxide equivalent and rising at about 6 percent a year could raise $154 billion by 2021, Nick Robins, an analyst at the bank in London, said today in an e-mailed research note, citing Congressional Research Service estimates. “Applied to the Congressional Budget Office’s 2012 baseline, this would halve the fiscal deficit by 2022,” Robins said.”

    • Mulga Mumblebrain says:

      If this happens you will know that the times really have changed. If it gets through Congress then you will know that miracles can still occur.

    • Mulga Mumblebrain says:

      Murdochism may be dying of its own moral corruption. Those whose every appetite is insatiable, because the soulless can never be satisfied, can never experience sufficiency, can never just exist in peace, must eventually just burn out, in a flurry of sulphurous vapours. So mote it be.

  6. Paul Magnus says:

    Climate Portals shared a link.
    a few seconds ago

    China could deliver larger reductions in carbon intensity than expected on the back of structural changes in the economy, water
    scarcity, efforts to tackle air pollution and carbon/energy targets.

    https://t.co/2NL5fmwH
    http://www.research.hsbc.com

  7. Colorado Bob says:

    Two drought stories worth noting -

    With the worst U.S. drought in 56 years sapping the reservoirs that feed the Missouri River, the flow of water from Gavins Point Dam, the system’s southernmost dam near Yankton, South Dakota, will be reduced beginning in the third week of November, the Army Corps of Engineers said.

    “In September we had the lowest inflow month that we’ve seen in our system since we began keeping detailed records in 1898. We only got about 25 percent of normal inflows,” said Monique Farmer, spokeswoman for the Army Corps of Engineers Northwestern division.

    http://www.reuters.com/article/2012/11/08/us-usa-barges-drought-idUSBRE8A71DK20121108

    • Colorado Bob says:

      As ash and silt continue their relentless descent into the Poudre River during even tiny rainstorms, Fort Collins will have to spend much more money on water filtration and purification in the coming years and potentially treat drinking water with additional chemicals to ensure the muck stays away from your faucet, Fort Collins water production manager Lisa Voytko said.

      The silt washing into Seaman Reservoir from the Hewlett and High Park wildfire burn areas could be costly to Greeley, said Jon Monson, the city’s water and sewer director.

      “It costs 10 times more to clean out a reservoir than to build a new one,” he said,

      http://www.coloradoan.com/article/20121107/NEWS01/311070036/Drought-wildfires-bring-water-challenges-area?odyssey=nav%7Chead

    • Merrelyn Emery says:

      A real sign of the times, and it won’t stop with petrol. I remember rationing from WWII, ME

  8. Merrelyn Emery says:

    Greg Combet, Minister for Climate Change, has just made a major speech announcing that Australia will commit to the second Kyoto agreement on the condition that all developed countries do the same. That means the USA and Canada so it’s time to get busy folks, ME