JP's budget $1.1T, $260B repay on debt. On Jan 27/11, S&P cut JP's rating for 1st time since '02 to AA- (4th highest rating) on "no plan to deal with mounting debt". Well, seems like JP needs an upgrade. They have $10T debt on their $5T GDP. The Jan rating was on par with China and the Sauds and a notch below Spain (since lowered?). Also seems China deserves an upgrade on having a $3T surplus reserve. Just looking at things. And S&P has such a good rep after the financial crisis themselves. They either did the latest US rating to make quick money in the market or make the present admin look bad. Or both. But I bet they made money on that call. Not that I'm jaded. Or cynical. What's our rating for S&P?
US approves Cape Wind construction plan.
States, utilities ask EPA to boost cap and trade plans.
DOE allots $5M to encourage EV deploy.
Drought threatening winter wheat crop.
Google plunked $100M down onto 845MW OR wind farm that should be online in '12.
Prez to be at ElectraTherm on Thursday. They make low temp waste heat recovery systems. Town hall meeting in Reno.
1 of every 2 wind turbines installed last year were installed in China.
Secret UK memos exposed a link between oil and invasion of Iraq. "WMD's..."
Oil and gas companies injected hundreds of millions of gallons of hazardous or carcinogenic chems into wells in more than 13 states from '05 to '09: congressional democratic investigation. Fracking. O well, who needs clean drinking water.
Cobalt Tech and American Process agreed to build world's 1st industrial-scale cellulosic biorefinery to produce biobutanol in MI. 470kgal/yr. Woody biomass. $18M DOE grant and $4M MI grant. Demo plant. $250/ton cost of field corn. $60/ton for wood or sugarcane bagasse.
Tidewater Biodiesel in VA to build 10M gal/yr plant to produce fuel from used cooking oil. Online '12.
World Bank calls for relaxing biofuel mandates to ease food price pressures. Yes!
Solar PV project order backlog in US >12GW.
And that's the way I saw it today fellow rockheads. Happy trails.
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