Senate passes financial reform

After weeks of delay, Senate Democrats were finally able to defeat GOP roadblocks and pass the bill to reign in Wall Street, and hopefully, prevent the 2008 crises from happening again. As the House already passed the final version, the bill now goes to President Obama for signature. The Senate’s next big legislative item will be an energy/climate bill that Senate Majority Leader Harry Reid will try to bring to the floor in two weeks. The House passed its version last year, but the Senate will scale back the “cap and trade” provision to only limit carbon pollution to power plans.

A Senate vote on extended unemployment benefits has been put off until next week, when Bob Byrd’s replacement (to be announced by Gov. Manchin tomorrow) will be sworn in, giving the Democrats enough votes. Republicans also delayed a commitee vote on Elena Kagan until next week.

Legislative Update XLI

Congress passed new sanctions on Iran and the House of Representatives passed the DISCLOSE Act, which came in the wake of the Supreme Court’s Citizen United decision that severely weakened previous campaign finance laws. Unfortunately, groups like the NRA were exempted from having to disclose its top donors on its campaign ads but would still have to put its own name on any of its spots. The Senate still has to pass the bill, so potentially the bill can be strengthened. But despite the exemptions, this is still a big step in disclosure for campaign contributions.

Meanwhile, Senate Republicans again killed a bill to extend unemployment benefits and prevent layoffs of state and local government workers though Congress delayed cuts to Medicare payments for six weeks while they work out the broader bill.

House and Senate negotiators have come to an agreement on financial reform legislation and hope to send it to President Obama by the July 4th recess. A bill has been introduced in Congress to crack down on puppy mills (you can ask your representatives to support the measure here). Senate Majority Leader Harry Reid plans to try and attach broader energy/climate change legislation to an oil industry regulation bill to get it fast tracked before the August recess. Speaker Pelosi is fighting for broader congressional oversight of the CIA and other intelligence agencies. And forgotten-Supreme Court nominee Elena Kagan’s confirmation hearings will begin Monday.

Legislative Update XL

Well, that jobs bill looks dead for now (though the House of Representatives did pass a small business bill), meaning people will go without unemployment benefits and states will likely start laying off teachers. Brilliant! And also thanks to the Blue Dog Democrats, a vote today on new campaign finance legislation in response to the Supreme Court’s Citizen United decision was scrapped even though it had already been weakened to exclude groups like the NRA.

Meanwhile, the House and Senate are still in negotiations on final financial reform legislation and Supreme Court nomine Elena Kagan’s confirmation hearing are about to begin.

Also, the only possible silver lining to the oil spill disaster is a renewed push from President Obama to get the Senate to pass an energy bill this year. Sens. Bingaman, Cantwell, Kerry/Lieberman, and Boxer made presentations of their bills yesterday but so far they’ve just agreed to another meeting. One idea being floated is that the Senate could pass a version that excludes the House’s “cap and trade” provision, then put it back in during conference during the post-midterms “lame duck session” where Democrats who already won or lost tough races would be more comfortable making a tough vote. But liberal Democrats may not vote for a bill that doesn’t address climate change, so the politics of this are pretty complicated right now.

Lastly, a columnist calls for partial immigration reform (the DREAM Act and AgJobs bill) given that comprehensive reform is probably unlikely to happen this year (especially if they do focus on an energy/climate bill). Makes sense to me.

Legislative Update XXXIX

The Senate continued to work on the financial reform bill, passing several notable amendments including  one limiting the ability of Wall Street firms to shop around for favorable ratings from now-discredited credit rating agencies, one to audit the actions of the Federal Reserve, and one that would force credit card companies to charge businesses less for debit card transactions than for credit card payments., among others. Senate Majority Leader Harry Reid wants to call for a cloture vote to end debate on Monday, but Republicans will try to thwart – as always.

Also, Republican Senator Murkowski of Alaska blocked a bill that would raise the liability caps for oil companies from $75 million to $10 billion in response to the damage caused by BP’s oil spill in the Gulf. And Sens. John Kerry and Joe Lieberman also finally unveiled their delayed climate change/energy bill, but its prospects of passing may be only slightly better than that of immigration reform…

Meanwhile, Republicans in the House of Representatives derailed a technology bill by attaching an amendment that effectively eliminated some of the key initiatives in the technology bill while inserting language supporting the firing of government workers who view or download pornography on the job to make those opposed to the cuts vulnerale to attack ads claiming they supported pornography on the government’s dime. Democrats scuttled the measure for now.

Legislative Update XXXVI

Congress passed a bill providing benefits to veterans’ caregivers that will go to President Obama. The Senate confirmed Judge Denny Chin to fill an opening on a New York-based appeals court.; he will be the only Asian-American currently serving on a U.S. Court of Appeals. However, there are 23 judicial nominations still pending on the Senate calendar. This is just some of the massive obstruction perpetrated by the GOP.

Rep. Chris Van Hollen has introduced the first in what could be a series of legislative attempts to undo some of the damage of the the Supreme Court’s Citizen United ruling to campaign finance reform. The bill is picking up at least some Republican support. Also, Congressional Democrats have begun pushing legislation giving government regulators greater authority to block big increases in health insurance premiums, in what is sure to be one of many legislative improvements to health care reform over the next few years.

And thanks to Sen. Russ Feingold, Congress is likely to wisely deny themselves pay raises this year.

Senate Majority Leader Harry Reid has filed for a cloture vote to take place on Monday for the financial regulatory reform bill. At least one Republican vote is needed, but with Republicans seemingly seeing that the momentum is against them on this issue, it’ll be a big test to see if they can hold firm in opposition. In any case, the bill is likely to pass soon and a conference version will likely be ahead of schedule, with the original thinking being that President Obama would sign this into law around September and the anniversary of Lehman Brothers, etc. Now that they will probably have more time to work on other legislation, a debate is now brewing on what the Democrats should tackle next.

The White House originally indicated their next priority was energy/climate change legislation, but Harry Reid (whom is facing a tough re-elected race in Nevada) and some Latino Democrats are pushing for immigration reform. While some fear taking up such a controversial issue in an election year, they argue that Democrats ought to show Latino voters they care about their issues and not take their votes for granted, especially in light of the draconian immigration law that encourages racial profiling that was passed in Arizona. Sens. Chuck Schumer and Lindsey Graham have introduced a bill in the Senate, and Speak of the House Nancy Pelosi has said that if the Senate can get it done the House would follow.

My personal preference, however, is to go with the climate bill. A version already passed the House and Sens. John Kerry, Graham and Joe Lieberman are introducing “compromise” legislation in the Senate on Monday, so it’s already closer to getting done. Plus, I think immigration reform might actually be more moveable with a potential Republican Congress next year than climate change… But hey, why not shoot for both? The Democrats ought to get as much of their agenda passed as possible while they have the votes.

UPDATE: A bad sign for the energy bill,  but it doesn’t look good for immigration reform either. Reid says he’s committed to both and Kerry says the EPA is studying the climate bill.

UPDATE II: A compromise to move both along?

Legislative Update XXXV

Congress finally passed an extension of unemployment benefits and health insurance subsidies (which President Obama immediately signed) after being blocked several times by Senate Republicans. Congress also passed a Haiti debt relief bill.

Meanwhile, Senate Democrats are paving the way for a Wall Street reform bill , a version of which passed the House of Representatives last year. Senate Republicans are having trouble getting the votes on their side to block it. And as early as next week, the House may bring back a bill to give D.C. residents a representative who can actually vote on bills.

Sen. Kerry is also about to introduce a new climate change/energy bill that has the support of Republican Sen. Lindsey Graham. The House passed a version last year, but unfortunately, it’s unlikely Congress will get back to it before the midterms either because they lack the time or because it’s an election year, as is the issue with immigration reform. That’s too bad since whether the Republicans can flip either chamber or not, Democrats almost certainly won’t have as many seats in the next Congress and it’ll be even harder to get such legislation passed.

UPDATE: It looks as if the D.C. voting rights bill is dead.

Tensions Escalate

It’s been three weeks since Georgian forces invaded South Ossetia, prompting a swift counter-response by Russian forces, and Russia still does not appear interested in either withdrawing their forces from Georgia or helping to de-escalate the war of rhetoric between Russia and the West. On Tuesday Russia recognized the independence of South Ossetia and Abkhazia, over the protests of the United States. Humanitarian aid being delivered to Georgia on NATO warships has prompted an assertive Russian response, which has responded by ordering more of their own warships to the Black Sea (though U.S. ships have declined to dock at the Russian-controlled Georgian port city of Poti.) Mysterious explosions on a Georgian railway have heightened suspicions that Russia is demonstrating it’s ability to hamper energy supplies to Europe, and Russia’s occupation in general has permanently damaged plans to turn Georgia into an alternative energy corridor that would circumvent Russian control of energy resources (a fact that the Russians were almost certainly considering when they invaded Georgia.) Russia’s stubborness has prompted calls for sanctions by members of the European Union, a move that seems more likely now that Russia’s Asian allies have failed to offer diplomatic support for Russia’s actions.

Al Gore challenges America to use 100% renewable energy in 10 years

I applaud Al Gore for his insistent calls to reform America’s energy policy. No matter how much people may disagree with his politics, he’s been consistently warning America about the need for change and the consequences of inaction for the last twenty years. Even ten years ago, despite pretty much unanimous consensus on Al Gore’s claim that the world was getting hotter and that it was inextricably linked to human activity, this assertion was questioned and challenged by both the right and the mainstream media. These days, you have even guys like T. Boone Pickens coming out talking about how we need to reduce global warming and dependence on foreign oil. Mr. Pickens has put forth a very bold plan to reduce reliance on oil greatly through the use of wind power in the Texas Panhandle. Recently, Al Gore issued a challenge to reduce America’s dependence on foreign non-renewable resources to nothing within ten years. It’s a very, very difficult proposition and if America decides to take up the challenge, probably the most difficult transition we will ever make. But if we did it and even mostly succeeded, America would be so much better off that this generation of leaders would leave a landmark; a legacy for all our succeeding generations that wouldn’t be forgotten until the idea of fossil fuels was forgotten. From Al Gore’s speech:

To those who say the costs are still too high: I ask them to consider whether the costs of oil and coal will ever stop increasing if we keep relying on quickly depleting energy sources to feed a rapidly growing demand all around the world. When demand for oil and coal increases, their price goes up. When demand for solar cells increases, the price often comes down.

When we send money to foreign countries to buy nearly 70 percent of the oil we use every day, they build new skyscrapers and we lose jobs. When we spend that money building solar arrays and windmills, we build competitive industries and gain jobs here at home.

Of course there are those who will tell us this can’t be done. Some of the voices we hear are the defenders of the status quo – the ones with a vested interest in perpetuating the current system, no matter how high a price the rest of us will have to pay. But even those who reap the profits of the carbon age have to recognize the inevitability of its demise. As one OPEC oil minister observed, “The Stone Age didn’t end because of a shortage of stones.”

We need to accept this challenge. We need to meet this challenge, not just so that we can quit spending hundreds a month that we don’t have on gas that we will never get back, but so that our descendants will never have to face the issues we are now.

Rick Noriega has joined in the call for change by saying that all of Texas should be powered by renewable resource electricity by 2019.

Mr. Noriega said Texas’ energy security is incumbent on moving from nonrenewable energy sources – particularly fossil fuels from “unstable” foreign nations – to American-generated renewable sources.

The U.S. must also increase fuel efficiency standards, invest in renewable energy development and improve the electricity distribution system – goals that Mr. Noriega says his opponent, U.S. Sen. John Cornyn, hasn’t prioritized or has actively fought against.

Help Al Gore. Elect men like Rick Noriega. It’s time to end this problem.

What to do with all that trash?

Vaporize it!

A Florida county has grand plans to ditch its dump, generate electricity and help build roads — all by vaporizing garbage at temperatures hotter than parts of the sun.

The $425 million facility expected to be built in St. Lucie County will use lightning-like plasma arcs to turn trash into gas and rock-like material. It will be the first such plant in the nation operating on such a massive scale and the largest in the world.

Supporters say the process is cleaner than traditional trash incineration, though skeptics question whether the technology can meet the lofty expectations.

The 100,000-square-foot plant, slated to be operational in two years, is expected to vaporize 3,000 tons of garbage a day. County officials estimate their entire landfill — 4.3 million tons of trash collected since 1978 — will be gone in 18 years.

As of yet, the facility hasn’t yet been built, despite this project’s declaration two years ago that it would be built within two years. Hey, that’s government for you. Does that mean it’s pie-in-the-sky science fiction? Nope. This technology actually isn’t brand new and is in operation in other countries.

This article from Popular Science gives an in-depth look at an American company hoping to convince cities to use its plasma jet waste disposal technology.

Called plasma gasification, it works a little like the big bang, only backward (you get nothing from something). Inside a sealed vessel made of stainless steel and filled with a stable gas—either pure nitrogen or, as in this case, ordinary air—a 650-volt current passing between two electrodes rips electrons from the air, converting the gas into plasma. Current flows continuously through this newly formed plasma, creating a field of extremely intense energy very much like lightning. The radiant energy of the plasma arc is so powerful, it disintegrates trash into its constituent elements by tearing apart molecular bonds. The system is capable of breaking down pretty much anything except nuclear waste, the isotopes of which are indestructible. The only by-products are an obsidian-like glass used as a raw material for numerous applications, including bathroom tiles and high-strength asphalt, and a synthesis gas, or “syngas”—a mixture of primarily hydrogen and carbon monoxide that can be converted into a variety of marketable fuels, including ethanol, natural gas and hydrogen.

Perhaps the most amazing part of the process is that it’s self-sustaining. Just like your toaster, Startech’s Plasma Converter draws its power from the electrical grid to get started. The initial voltage is about equal to the zap from a police stun gun. But once the cycle is under way, the 2,200?F syngas is fed into a cooling system, generating steam that drives turbines to produce electricity. About two thirds of the power is siphoned off to run the converter; the rest can be used on-site for heating or electricity, or sold back to the utility grid. “Even a blackout would not stop the operation of the facility,” Longo says.

It all sounds far too good to be true. But the technology works. Over the past decade, half a dozen companies have been developing plasma technology to turn garbage into energy. “The best renewable energy is the one we complain about the most: municipal solid waste,” says Louis Circeo, the director of plasma research at the Georgia Institute of Technology. “It will prove cheaper to take garbage to a plasma plant than it is to dump it on a landfill.” A Startech machine that costs roughly $250 million could handle 2,000 tons of waste daily, approximately what a city of a million people amasses in that time span. Large municipalities typically haul their trash to landfills, where the operator charges a “tipping fee” to dump the waste. The national average is $35 a ton, although the cost can be more than twice that in the Northeast (where land is scarce, tipping fees are higher). And the tipping fee a city pays doesn’t include the price of trucking the garbage often hundreds of miles to a landfill or the cost of capturing leaky methane—a greenhouse gas—from the decomposing waste. In a city with an average tipping fee, a $250-million converter could pay for itself in about 10 years, and that’s without factoring in the money made from selling the excess electricity and syngas. After that break-even point, it’s pure profit.

Someday very soon, cities might actually make money from garbage.

Of course there are naysayers and skeptics. I’m hoping they’ll be proven wrong and we can get this technology under way very soon. Not only would it make trash into money, it would mean that we could actually do something with all that plastic in the landfills (styrofoam!!) and cities wouldn’t have to deal with all the problems of trash. And of course, the energy bonus is a must in these times where energy is in such high demand.

In the meanwhile, some cities are trying out other options to make the best of what they’ve got. Dallas is implementing an advanced method to compost all the old trash in the landfill.

The city is currently preparing the first “cell” of the landfill for use in the project.

At 30 acres, the cell is little more than a giant trench with rising bluffs that overlook downtown.

Come October, the city will bury the first stretch of pipeline in the cell.

The pipes, which will be stacked in layers of seven across the cell, are the key to a system designed to feed microorganisms that produce gas, largely methane and carbon dioxide, as a byproduct.

One series of pipes will pump in water and landfill liquid, known as leachate. The moisture will saturate the trash, making a better food source for the naturally occurring organisms. As gas is produced, a second series of pipes will extract it using vacuum pressure. It will then be sent to an on-site processing plant where carbon dioxide will be separated from methane. The methane then will be transferred to an Atmos Energy pipeline.

“The theory behind this is nothing more than a big compost pile,” Mr. Smith said.

Only, you can’t turn a landfill over like you can a compost pile in the backyard. Instead, water has to leach slowly through the trash.

As it does so, “the microbes go crazy,” Mr. Smith said.

Methane gas, the main component of natural gas, is produced at two to three times or more the rate that it would be in a traditional landfill.

As it stands, McCommas already captures about 5.6 million cubic feet of methane a day, which is piped to an on-site plant operated by the independent company, Dallas Clean Energy. Some of the city’s estimates show that by 2012, output could exceed 20 million cubic feet per day.

That will not only generate more fuel for use in and around Dallas, it will add a pot of revenue to the city coffers of $30,000 to $50,000 a month, officials estimate.

Very cool.

The Food Crisis

The global food crisis is shaping up to be a huge problem. It threatens to substantially raise grocery bills in wealthy countries such as our own, but it also threatens to send millions of the world’s poorest into malnutrition and starvation. And yet you won’t hear much about it on the news networks, even though it has been perpetuated by American food and energy policies and will impact us quite directly. That’s almost certainly because it’s a complicated problem with no easy answers, and no easy targets for blame. But while our talking heads may wallow breezily in their ignorance, you and I have no such excuse. In that vein, I highly recommend this excellent series by the Washington Post on the food crisis; how it happened, what it means, and how it’s effecting people the world over, from bagel producers on the East Coast to poor families in Mauritania. Read it and inform yourself as best you can, because it’s a problem we’re going to be dealing with for years to come and our only hope is to spur our normally pandering Congressmen and women to take what actions we can take to alleviate the problem.