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The Coal Industry Wants Your Cash to Save Them

A recently-released report by the World Coal Institute (WCI) on how to finance the experimental Carbon Capture and Storage (CCS) technology for power stations, reminded me of a cartoon from years ago by the Australian cartoonist, Patrick Cook. In the cartoon, a huge bloated budgie (parakeet) with the letters "BHP" emblazoned on its chest, was holding a gun to its own head while proclaiming to a cowering politician, "Hand over the loot or the budgie gets it." (At the time, BHP -- which owned iron ore mines and steel mills -- was haggling for government support for its ailing steel operations).

BHP-Billiton ditched its steel interests long ago and is now one of the world's biggest miners and exporters of coal for power stations. It is also a member of the WCI. In its report, titled Securing the Future: Financing Carbon Capture and Storage in a Post-2012 World, the WCI argue that there is an urgent need for massive funding of CCS trials by governments and with a generous slice of revenues from emissions trading schemes. Current funding, the WCI claims, is "too slow to allow necessary global GHG [greenhouse gas] emissions reductions goals to be achieved." Not surprisingly, they identify that "the appetite for this will largely hinge on public acceptance."

What the coal industry realises is that without massive public funding, CCS is dead. Without CCS, the coal industry and power companies locked into coal-fired power stations will, at best, be on life support.

Genentech's Ghostwriting Animates Congressional Speeches on Health Reform

In Sunday's New York Times, Robert Pear reports that biotech industry lobbyists were especially successful in getting their spin mouthed by House Members during the health care reform debate. He notes:

Statements by more than a dozen lawmakers were ghostwritten, in whole or in part, by Washington lobbyists working for Genentech, one of the world's largest biotechnology companies. E-mail messages obtained by The New York Times show that the lobbyists drafted one statement for Democrats and another for Republicans. The lobbyists, employed by Genentech and by two Washington law firms, were remarkably successful in getting the statements printed in the Congressional Record under the names of different members of Congress.

Wendell Headlines Triple Bottom Line Conference

The Center for Media Democracy's Wendell Potter was invited to be the keynote speaker at the Triple Bottom Line Investment (TBLI) conference in Amsterdam this past week. This year's TBLI conference focused on worldwide "health insurance and related human rights issues, the Credit Crunch and its effects on investment ethics values and investment, and the Copenhagen Climate Council and its consequences for investment portfolios," according to their statement about the event.

Ian Plimer's Mining Connections

Since the publication in May of his book, Heaven and Earth: Global Warming - The Missing Science, Ian Plimer has been the darling of conservative media commentators and the global network of climate change skeptics. Plimer, an Australian geologist, has been strongly criticized by climate scientists for errors in his book. More recently, he has been in the news over his challenge to British journalist, George Monbiot, for a debate over climate science. Monbiot agreed, subject to Plimer answering some questions in writing ahead of a debate, but Plimer retreated.

While a few news stories have made a passing mention that Plimer is a director of several mining companies, none have looked with any detail at which companies he is involved with, and how substantial his interest is. Recently, a volunteer editor on SourceWatch (hat-tip to Scribe), did some digging into Plimer's directorships with three mining companies, Ivanhoe Australia, CBH Resources and Kefi Minerals.

Anniversary Sparks Renewed Efforts to Break Up the Banks

Thursday, November 12th marks the ten year anniversary of the repeal of the depression-era Glass-Steagall Act that protected consumers from casino-style gambling on Wall Street and prevented significant financial crises for almost 60 years. As Congress took up a series of bills this fall to restore confidence in the financial sector, notably lacking were any bills to break up the big banks and restore Glass-Steagall protections.

Lessons from the Health Care Meltdown

Here's an article I recently published in a special issue of The Regulator (the full issue focused on the health care debate is attached below):

The current economic crisis teaches insurance regulators several key lessons to prevent a wholesale health care meltdown in America. Much like the financial sector, the health insurance sector has made short-term gains its priority rather than the health and well-being of its customers.

As a result, private insurance fails to meet the needs of Americans and is increasingly unaffordable and unsustainable. Insurers have driven up premiums and out-of-pocket costs, putting consumers at financial risk if they need costly health care services or forcing them to go without needed care.

For health care reform to work there must be the type of federal oversight and consumer protections required of the financial sector under the proposed Consumer Financial Protection Agency (CFPA). The creation of the Health Choices Administration (HCA), as outlined in proposed HR 3200 (a.k.a. America’s Affordable Health Choices Act of 2009), is critical.

House Passes Health Reforms--"The Good Joe," Rep. Joseph Cao, Not Cowed

On November 7, 2009, the U.S. House of Representatives passed landmark health care reform legislation after months of negotiations and despite some really outrageous lies by opponents of any efforts to redress corporate malfeasance. Only a single Republican, Congressman Joseph Cao of New Orleans, "the Good Joe," was willing to defy his party's command and vote for the bill, along with 219 Democrats, giving the bill two votes more than it needed to pass. Upon the historic vote, the Good Joe said: "I read the versions of the House health reform bill. I listened to the countless stories of Orleans and Jefferson Parish citizens whose health care costs are exploding – if they are able to obtain health care at all. Louisianans need real options for primary care, for mental health care, and for expanded health care for seniors and children."

Stanford Historian Robert Proctor vs. R.J. Reynolds: A Lot on the Line

Dr. Robert Proctor, Stanford Professor of History of ScienceHistory is unkind to tobacco companies, and never more so than since a federal court in 2006 found the industry guilty of perpetrating 50 years of fraud and deceit upon the American people. It's a sordid history to live down, and maybe that's why R.J. Reynolds is harassing one of the few historians who has been willing to step up and testify in court about the real history of the tobacco industry's behavior: Professor Robert N. Proctor of Stanford University.

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