Draft 2016 Democratic Platform's Climate Mentions

Posted by Brad Johnson Fri, 01 Jul 2016 20:46:00 GMT

Climate Hawks Vote is calling for the Democratic Platform to call for a national ban on fracking.

Preamble

Under President Obama’s leadership . . . We are getting more of our energy from the sun and wind, and importing less oil from overseas.

Democrats believe that climate change poses a real and urgent threat to our economy, our national security, and our children’s health and futures, and that Americans deserve the jobs and security that come from becoming the clean energy superpower of the 21st century.

2. Create Good-Paying Jobs

We will build 21st century energy and water systems, modernize our schools, and continue to support the expansion of high-speed broadband networks. We will protect communities from the impact of climate change by investing in green and resilient infrastructure.

c. Clean Energy Jobs
We must help American workers and businesses compete for jobs and investments in global clean energy, high-tech products, internet technology products, and advanced manufacturing and vehicles. And we must make American manufacturing more internationally competitive by making it the greenest and most efficient in the world, including by investing in industrial energy efficiency.

3. Fight for Economic Fairness and Against Inequality
d. Taxes
Democrats will claw back tax breaks for 22 companies that ship jobs overseas, eliminate tax breaks for big oil and gas companies, and crack 23 down on inversions and other methods companies use to dodge their tax responsibilities.

e. Trade
On the Trans Pacific Partnership (TPP), there are a diversity of views in the party. Many Democrats are on record stating that the agreement does not meet the standards set out in this platform; other Democrats have expressed support for the agreement.

4. Bring Americans Together and Remove Barriers to Create Ladders of Opportunity
k. Honoring Indigenous Tribal Nations
We are committed to principles of environmental justice in Indian Country and we recognize that nature in all its life forms has the right to exist, persist, maintain, and regenerate its vital cycles. We call for a climate change policy that protects tribal resources, protects tribal health, and provides accountability through accessible, culturally appropriate participation and strong enforcement. Our climate change policy will cut carbon emission, address poverty, invest in disadvantaged communities, and improve both air quality and public health. We support the tribal nations to develop wind, solar and other clean energy jobs.

6. Combat Climate Change, Build a Clean Energy Economy, and Secure Environmental Justice

Climate change is an urgent threat and a defining challenge of our time. Fifteen of the hottest years on record have occurred this century. While Donald Trump has called climate change a “hoax”, 2016 is on track to break global temperature records once more. Cities from Miami to Baltimore are already threatened by rising seas. California and the West have suffered years of brutal drought. Alaska has been scorched by wildfire. New York has been battered by superstorms, and Texas swamped by flash floods. The best science tells us that without ambitious, immediate action to cut carbon pollution and other greenhouse gases across our economy, all of these impacts will be far worse in the future. We cannot leave our children a planet that has been profoundly damaged.

Democrats share a deep commitment to tackling the climate challenge; creating millions of good-paying middle class jobs; reducing greenhouse gas emissions more than 80 percent below 2005 levels by 2050; and meeting the pledge President Obama put forward in the landmark Paris Agreement, which aims to keep global temperature increases to “well below” two degrees Celsius and to pursue efforts to limit global temperature increases to 1.5 degrees Celsius. We believe America must be running entirely on clean energy by mid-century. We will take bold steps to slash carbon pollution and protect clean air at home, lead the fight against climate change around the world, ensure no Americans are left out or left behind as we accelerate the transition to a clean energy economy, and be responsible stewards of our natural resources and our public lands and waters. Democrats reject the notion that we have to choose between protecting our planet and creating good-paying jobs. We can and we will do both.

Clean Energy Economy
We are committed to getting 50 percent of our electricity from clean energy sources within a decade, with half a billion solar panels installed within four years and enough renewable energy to power every home in the country. We will cut energy waste in American homes, schools, hospitals, and offices; modernize our electric grid; and make American manufacturing the cleanest and most efficient in the world, creating new jobs and saving families and businesses money on their energy bills. And we will transform American transportation by reducing oil consumption through cleaner fuels, making new investments in public transportation, expanding electrification of the vehicle fleet, increasing the fuel efficiency of cars, boilers, ships, and trucks, and by building bicycle and pedestrian infrastructure across our urban and suburban areas. Democrats believe the tax code must reflect our commitment to a clean energy future by eliminating special tax breaks and subsidies for fossil fuel companies as well as defending and extending tax incentives for energy efficiency and clean energy.

Democrats are committed to defending, implementing, and extending smart pollution and efficiency standards, including the Clean Power Plan, fuel economy standards for automobiles and heavy-duty vehicles, building codes and appliance standards, and the reduction of methane emissions from oil and gas production. We will work to expand access to cost-saving renewable energy by low-income households, create good-paying jobs in communities that have struggled with energy poverty, and oppose efforts by utilities to limit consumer choice or slow clean energy deployment. We support President Obama’s decision to reject the Keystone XL pipeline. And we believe that the federal government should lead by example, which is why we will take steps to power the government with 100 percent clean electricity.

Environmental and Climate Justice
Democrats believe clean air and clean water are basic rights of all Americans. Yet as we saw in Flint, Michigan, low-income communities and communities of color are disproportionately home to environmental justice “hot spots,” where air pollution, water pollution, and toxic hazards like lead increase health and economic hardship. The impacts of climate change will also disproportionately affect low-income and minority communities, tribal nations, and Alaska Native villages—all of which suffer the worst losses during extreme weather and have the fewest resources to prepare. Simply put, this is environmental racism. The fight against climate change must not leave any community out or behind—including the coal communities who kept America’s lights on for generations. Democrats will fight to make sure these workers and their families get the benefits they have earned and the respect they deserve, and we will make new investments in energy producing communities to help create jobs and build a brighter and more resilient economic future.

All corporations owe it to their shareholders to fully analyze and disclose the risks they face, including climate risk. Those who fail to do so should be held accountable. Democrats also respectfully request the Department of Justice to investigate allegations of corporate fraud on the part of fossil fuel companies accused of misleading shareholders and the public on the scientific reality of climate change.

Public Lands and Waters
Democrats believe in the conservation and collaborative stewardship of our shared natural heritage: the public lands and waterways, the oceans, Great Lakes, the Arctic, and all that makes America’s great outdoors priceless. As a nation, we need policies and investments that will keep America’s public lands public, strengthen protections for our natural and cultural resources, increase access to parks and public lands for all Americans, protect species and wildlife, and harness the immense economic and social potential of our public lands and waters.

We oppose drilling in the Arctic and off the Atlantic coast, and believe we need to reform fossil fuel leasing on public lands. We can phase down extraction of fossil fuels from our public lands, starting with the most polluting sources, while making our public lands and waters engines of the clean energy economy and creating jobs across the country.

11. Global Threats
g. Climate Change
Climate change poses an urgent and severe threat to our national security. According to the military, climate change is a threat multiplier that is already contributing to new conflicts over resources, catastrophic natural disasters, and the degradation of vital ecosystems across the globe. While Donald Trump says that climate change is a “hoax” created by and for the Chinese, Democrats recognize the danger facing our country and our planet. We believe the United States must lead in forging a robust global solution to the climate crisis. We will not only meet the goals we set in Paris, we will seek to exceed them and push other countries to do the same by slashing carbon pollution and rapidly driving down emissions of potent greenhouse gases like hydrofluorocarbons. We will support developing countries in their efforts to mitigate carbon pollution and other greenhouse gases, deploy more clean energy, and invest in climate resilience and adaptation. And as a proud Arctic nation, we are against putting the region at risk through drilling in the Arctic Ocean or the Arctic National Wildlife Refuge. Instead, while protecting our strategic interests, we will seek collaborative, science-based approaches to be good stewards of the rapidly changing Arctic region.

June 8 Democratic Platform Forum In Washington DC: Details of Time and Location Revealed

Posted by Brad Johnson Sun, 05 Jun 2016 04:13:00 GMT

Beginning on Wednesday, the Democratic Party plans to hold a two-day forum in Washington DC to solicit public testimony on the national platform. Details on when and where the forum will take place were released to press on Saturday. The forum was announced on May 27.

On Wednesday, June 8th and Thursday, June 9th at the Omni Shoreham Hotel in Washington, D.C., the 2016 Democratic Platform Drafting Committee will hold the first in a series of regional events. The forum is broken up into three thematic sessions, the first beginning at 1:30 pm on Wednesday and scheduled to go to 5 pm. Thursday has two sessions scheduled, a morning session from 9 am to 12 pm, and and afternoon session from 1 pm to 5 pm.

Democratic National Committee Chairwoman Debbie Wasserman Schultz, Platform Drafting Chair Rep. Elijah Cummings (D-MD), and Democratic National Convention Committee (DNCC) CEO, Rev. Leah D. Daughtry will deliver opening remarks at the forum. The Drafting Committee will then hear from policy experts and other Democrats, chosen from people who have applied to testify.

The schedule for Wednesday involves one afternoon session entitled “Leveling the Playing Field: Creating Opportunity and Removing Barriers.” Thursday morning is “Moving America Forward: Education, Jobs, and the Economy,” and the afternoon is “America’s Role in the World.”

Although there are not explicit references to climate, energy, and the environment in the session titles, it is expected to come up in public testimony.

The Platform Drafting Committee includes two prominent environmentalists, one chosen by each campaign. Bill McKibben, the founder of 350.org, was selected by the Sanders campaign. Carol Browner, the former EPA Administrator under Clinton’s husband, and the chair of the League of Conservation Voters (which endorsed Hillary Clinton last fall), was selected by the Clinton campaign. Browner works for the international lobbying and consulting firm Albright Stonebridge Group.

See below for the full press release:

MEDIA ADVISORY

Democratic National Convention Committee Convenes Mid-Atlantic Democratic Platform Forum

Democrats Asked to Make their Voices Heard by Providing Written Testimony, Submitting Video Testimony or Requesting to Appear in Person

PHILADELPHIA, PA – On Wednesday, June 8th and Thursday, June 9th at the Omni Shoreham Hotel in Washington, D.C., the 2016 Democratic Platform Drafting Committee will hold the first in a series of regional events designed to engage every voice in the Party. Democratic National Committee Chairwoman Debbie Wasserman Schultz, Platform Drafting Chair Rep. Elijah Cummings (D-MD), and Democratic National Convention Committee (DNCC) CEO, Rev. Leah D. Daughtry will deliver opening remarks at the forum. The Drafting Committee will then hear from policy experts and Democrats from all walks of life to inform the Democratic National Platform.

In an effort to welcome every voice in the Party, the DNCC has announced multiple ways in which the public can participate in the series of regional events. Democrats interested in providing testimony can go to www.demconvention.com/platform to submit written or video testimony. Members of the public interested in attending the events can also RSVP online; seating will be available on a first come, first served basis.

WHAT:         Democratic National Platform Forum
WHEN:         Wednesday, June 8 , 2016
Session 1 – 1:30 to 5:00 PM
Leveling the Playing Field: Creating Opportunity and Removing Barriers

Thursday, June 9 , 2016
Session 2 – 9:00 AM to 12:00 PM
Moving America Forward: Education, Jobs, and the Economy

Session 3 –1:00 PM to 5:00 PM
America’s Role in the World

(All times are approximate)

WHERE: The Omni Shoreham Hotel, 2500 Calvert Street, NW, Washington, DC 20008

All Platform forums and meetings will be live streamed atwww.demconvention.com/platform and open to press. Members of the media interested in attending must RSVP by emailing chuntley@demconvention.comby Tuesday, June 7, 2016 at 5:00 PM ET.

About the Democratic National Convention

The 2016 Democratic Convention will be held at the Wells Fargo Center in Philadelphia July 25-28, 2016. Working in partnership with the Philadelphia Host Committee, the City of Philadelphia and the Commonwealth of Pennsylvania, our goal is to make this the most engaging, innovative and forward looking Convention in history. The 2016 Democratic National Convention will leverage technology to take the Convention experience well beyond the hall in an effort to engage more Americans than ever before in the event. With the birthplace of American Democracy as a backdrop, the 2016 convention in Philadelphia will highlight our shared Democratic values and help put the Democratic nominee on a path to victory.

The CEO for the 2016 Democratic National Convention is Reverend Leah D. Daughtry.

The DNCC will hold platform events in the following locations: Mid-Atlantic – Washington, DC on June 8 and 9 (forum with testimony); Southwest – Phoenix, Arizona on June 17 and 18 (forum with testimony); Midwest – St. Louis, Missouri on June 24 and 25 (drafting committee meeting); Southeast – Orlando, Florida on July 8 and 9 (platform committee meeting). Members of the public will be admitted to platform events on a first come, first served basis.

The official website of the 2016 Democratic National Convention is www.demconvention.com

In Upstate Ad, Pro-Fracking Clinton Promises To 'Stand Firm With New Yorkers Opposing Fracking'

Posted by Brad Johnson Tue, 19 Apr 2016 01:30:00 GMT

In an unannounced climate-change ad running in upstate New York, the Hillary Clinton campaign declares allegiance with the anti-fracking movement, despite the candidate’s support for fracking. With images of dirty rigs and anti-fracking protest signs, the narrator promises that a President Clinton will “stand firm with New Yorkers opposing fracking, giving communities the right to say no.”

Watch:

The ad’s characterization of Clinton’s stance on fracking is technically accurate, though misleading, as Clinton will cede localities control over fracking, while supporting natural gas as a ‘bridge fuel’. One could say that Clinton will “stand firm” with other states supporting fracking, such as Wyoming, Oklahoma and Pennsylvania. Clinton has not taken a position on the Constitution Pipeline, a controversial fracked-gas pipeline being constructed through upstate New York from Pennsylvania. Clinton is on record supporting “new natural gas pipeline investment.”

Her opponent, Bernie Sanders, unequivocally opposes fracking nationally.

The television ad also credits Clinton’s work at the failed Copenhagen climate talks for “laying the groundwork” for the Paris climate agreement. The ad confusingly displays a photo of Clinton at Copenhagen under a Washington Post headline about the Paris talks six years later.

The ad began running in upstate New York communities on Wednesday, April 13, six days before the April 19th primary. It has aired over 200 times cumulatively on Albany, Rochester, Syracuse, Watertown, Elmira, Binghamton, and Utica stations.

The ad was not announced to the press by the campaign, allowing it to avoid scrutiny by fact-checkers or the public. Following New York, the election heads to Pennsylvania, where fracking is allowed.

Transcript:

NARRATOR: China. India. Some of the world’s worst polluters. As secretary of state, Hillary Clinton forced them to the table, making real change by laying the groundwork for the historic global agreement to combat climate change.

As president, she’ll invest in a clean energy future, and the jobs that go with it. And stand firm with New Yorkers opposing fracking, giving communities the right to say no. Because our future depends on getting this right.

CLINTON: I’m Hillary Clinton, and I approve this message.

Hillary Clinton: "We're going to put a lot of coal miners and coal companies out of business."

Posted by Brad Johnson Mon, 14 Mar 2016 16:06:00 GMT

Clinton at town hallAt last night’s Democratic town hall in Columbus, Ohio, Hillary Clinton bluntly declared her intention to shut down the American coal industry in order to fight global warming pollution. Clinton went on to say that “we’ve got to move away from coal, and all the other fossil fuels.” Her declaration of war on the fossil-fuel industry was in the context of her plan to support job transitions into renewable energy and other sectors for the coal miners:

“I’m the only candidate which has a policy about how to bring economic opportunity — using clean, renewable energy as the key — into coal country. Because we’re going to put a lot of coal miners and coal companies out of business. And we’re going to make it clear that we don’t want to forget those people. Those people labored in those mines for generations, losing their health, often losing their lives, to turn our lights and power our factories. Now we’ve got to move away from coal, and all the other fossil fuels. But I don’t want to move away from the people who did their best to produce the energy we rely on.”

By stating that “we’ve got to move away” from all fossil fuels, Clinton recognized the first law of climate policy: global warming won’t end until we stop burning fossil fuels.

However, in this campaign she is promoting a long glide path towards that goal, which involves increased domestic and international fracking as a “bridge” to a zero-carbon pollution future. She has not set a date for such a transition; like her Democratic opponent, Senator Bernie Sanders of Vermont, she has set a goal of an 80 percent reduction in domestic greenhouse pollution by 2050. Unlike Sanders she supports continued domestic production of fossil fuels for domestic use and for export, which threatens the climate goals set by President Barack Obama and her successor at the State Department, John Kerry.

Clinton misspoke when she claimed to be the “only candidate which has a policy about how to bring economic opportunity — using clean, renewable energy as the key — into coal country.” In fact, in December Sanders introduced legislation with that specific aim, the Clean Energy Worker Just Transition Act (S. 2398). The 2007 climate legislation introduced by Sanders and Sen. Barbara Boxer (D-Calif.) and 2013 Boxer-Sanders climate legislation had similar provisions.

In fact, in 2007 Clinton co-sponsored a Sanders amendment which successfully allocated $100 million for green-collar job training and resources, including for displaced energy-industry workers.

Fracking-Fund Billionaire Marc Lasry is a Top Clinton Advisor and Fundraiser

Posted by Brad Johnson Tue, 01 Mar 2016 16:39:00 GMT

Marc Lasry and Hillary Clinton
Marc Lasry and Hillary Clinton
Wall Street hedge-fund billionaire Marc Lasry is one of Hillary Clinton’s biggest financial supporters, and has built deep family and financial ties between himself, Obama, and Clinton. Now he is betting on a Hillary Clinton presidency, while betting the retirements of public-school teachers on a fracking renaissance.

In 2014, Lasry, founder and chair of Avenue Capital Group, raised $1.3 billion for a fund that bought loans of distressed energy companies, only to watch the debt become even more worthless. $200 million raised for the Avenue Energy Opportunities Fund came from the Pennsylvania Public School Employees’ Retirement System. Lasry has shrugged off the losses, confident the good times will come again for the frackers.

“There’s going to be a huge turnaround on energy,” Lasry told reporters this January. The oil and gas slump has hurt exploration and production companies, but prices “will always come back. The question is, does it take six months or does it take three years?”

Meanwhile, Marc Lasry—a co-owner of the Milwaukee Bucks—has become a top contributor and bundler for the 2016 Hillary Clinton campaign. When Clinton announced her campaign, Lasry emailed his friends looking to quickly raise $270,000 with ten maxed-out contributions of $2700 each.

“It’s been a long time coming, and now there’s a huge amount of excitement behind her,” Lasry told Bloomberg News. “You will start seeing it in the numbers as people start donating.”

The exact amount of money bundled by Lasry has not been publicly disclosed; the Clinton campaign only discloses which bundlers have raised over $100,000.

She’s moving a little bit to the left, and I think that’s fine,” Lasry told Bloomberg in May 2015, after hosting one her first campaign fundraisers at his townhouse. “People who are giving money to her understand that. Obviously, some people have some issues. I think the vast majority won’t have issues.”

On February 12 of this year, Clinton came out in favor of new domestic natural-gas fracking and pipeline infrastructure.

Marc Lasry has deep financial and familial ties to the Clintons and Obamas.

Lasry’s daughter Samantha was a Congressional intern for Rahm Emanuel in 2005, the future chief of staff for Barack Obama. Meanwhile, Lasry donated to Rahm’s campaign.

In 2006, Marc Lasry hired Chelsea Clinton to work at his hedge fund, Avenue Capital Group, while Hillary Clinton was Senator of New York. Meanwhile, Lasry contributed to Hillary Clinton’s campaign.

Marc Lasry was a top contributor and bundler for Barack Obama in 2008 and 2012. Meanwhile, Alexander Lasry, his son, was a special assistant to Valerie Jarrett in the Obama White House from 2010 to 2012.

In 2011, Marc Lasry and Goldman Sachs CEO Lloyd Blankfein invested in Eaglevale Partners, the hedge fund set up by Marc Mezvinsky, Chelsea Clinton’s husband. Lasry invested $1 million. The fund “underperformed.”

Oddly enough, Lasry was also one of Donald Trump’s top investors: he managed the bankruptcy buyout of Trump’s casinos in 2010. He then served as the chairman of Trump Entertainment Resorts, Inc. from 2011 to 2013, with a 22 percent stake and managerial control of the Trump Plaza, Trump Marina and Trump Taj Mahal casinos.

In the same interview this January where Lasry bet that the oil and gas industry would rise again, he expressed similar confidence about his chosen candidate.

“Hillary is going to be the next president of the United States.”

Bernie Sanders: 'Hillary Clinton Supports Fracking. I Do Not.'

Posted by Brad Johnson Fri, 26 Feb 2016 15:27:00 GMT

“Hillary Clinton supports fracking. I do not.”

These words appeared in a recent fundraising email from Democratic presidential candidate Bernie Sanders, which fiercely attacked fracking and Hillary Clinton’s support from and for the natural gas industry.

In blunt language, Sanders contrasted his call for a national moratorium on fracking against Clinton’s fundraising from natural gas investors:
Just days before the Iowa caucus, Hillary Clinton left the campaign trail for a high-dollar fundraiser at a hedge fund. That same hedge fund is a major investor in fracking, an incredibly destructive practice of extracting natural gas by pumping hundreds of secret chemicals into the ground.

Hillary Clinton supports fracking. I do not.

And just as I believe you can’t take on Wall Street while taking their money, I don’t believe you can take on climate change effectively while taking money from those who would profit off the destruction of the planet.

Sanders’ email comes on the heels of the Clinton campaign’s February 12th release of a policy promoting new natural-gas extraction and infrastructure. Clinton’s promotion of “safe and responsible natural gas production” (the phrase “safe and responsible” was used five times) was praised by LiUNA, a trade union that had vigorously supported the construction of the Keystone XL pipeline.

“Domestically produced natural gas can play an important role in the transition to a clean energy economy,” Clinton’s policy position states, making no mention of the candidate’s February 4th pledge, caught on camera, to ban the extraction of fossil fuels, including natural gas, from public lands.

The conflict between Sanders and Clinton on natural gas is set to become a point of major political contention, as voters go to the polls next month in states overrun by fracking, including Oklahoma and Texas on March 1, Kansas and Nebraska on March 6, and Ohio on March 15. These states are reeling from the boom and bust of the fracking industry, left with earthquakes, degraded water supplies, and thousands of non-union workers exploited and poisoned by the private fracking companies Clinton’s donors have financed. Fights over natural-gas pipelines and facilities have mobilized activists in dozens of other states.

On a national scale, a growing body of scientific evidence is building that the climate benefits of switching from coal to natural gas were a total mirage, with the catastrophic Porter Ranch methane blowout the most visible and extreme example of a nationwide surge in methane leakage as a result of the domestic fracking boom promoted by the Bush and Obama administrations. Methane is a greenhouse gas that is 80 times more potent than carbon dioxide on a twenty-year timespan.

Read Sanders’ full email:

Sisters and Brothers -

Just days before the Iowa caucus, Hillary Clinton left the campaign trail for a high-dollar fundraiser at a hedge fund. That same hedge fund is a major investor in fracking, an incredibly destructive practice of extracting natural gas by pumping hundreds of secret chemicals into the ground.

Hillary Clinton supports fracking. I do not.

And just as I believe you can’t take on Wall Street while taking their money, I don’t believe you can take on climate change effectively while taking money from those who would profit off the destruction of the planet.

Please contribute to our campaign right now to help elect a president who isn’t beholden to special interests that profit off of pollution.

Dick Cheney pushed through changes to the Safe Drinking Water Act that legalized fracking, despite the fact that fracking companies keep the chemicals they pump into the ground a secret.

People who live near fracking locations no longer have drinkable water, and in some cases their tap water is actually flammable. Oklahoma has even seen a rash of earthquakes that many believe are a result of fracking.

In short, fracking is a disaster for the planet.

We need a president who is not beholden to special interests and who will do everything in his or her power to fight the effects of climate change. It’s clear that to elect that kind of president, millions of people need to come together and chip in whatever they can.

Make a contribution to our campaign now to send a message that you want to elect a president who will do everything possible to fight climate change.

We can’t afford to let people who would destroy our planet elect our next president.

Thank you for your support.

In solidarity,

Bernie Sanders

In Letter to Shareholders, Warren Buffett Mockingly Compares Global Warming to Y2K

Posted by Brad Johnson Mon, 22 Feb 2016 22:13:00 GMT

Billionaire investor Warren Buffett has dismissed the threat of global warming to Berkshire Hathaway, comparing it to the "dire" Y2K bug fear which caused only minor problems in a letter to investors opposing a shareholder resolution on climate. Athough Buffett admitted it is "highly likely" that climate change "poses a major problem for the planet," he concluded that "when you are thinking only as a shareholder of a major insurer, climate change should not be on your list of worries."

At the upcoming Berkshire Hathaway shareholders' meeting, the Nebraska Peace Foundation and Bold Nebraska are presenting a proposal calling for a report from Berkshire Hathaway's insurance division (which includes Geico) on the risks posed by climate change. The board, following Buffett's wishes, is opposing the proposed report.

Buffett's conglomerate is increasingly invested in the fossil-fuel industry, from his anti-community-solar NV Energy utility in Nevada to his railroad company BNSF, which profits heavily from oil-train and coal-train traffic.

Download the shareholder resolution and Buffett's opposition here.

The text of Buffett's letter is below:

It seems highly likely to me that climate change poses a major problem for the planet. I say "highly likely" rather than "certain" because I have no scientific aptitude and remember well the dire predictions of most "experts" about Y2K. It would be foolish, however, for me or anyone to demand 100% proof of huge forthcoming damage to the world, if that outcome seemed at all possible and if prompt action had even a small chance of thwarting the threat. If there is only a 1% chance the planet is heading toward a truly major disaster and delay means passing a point of no return, inaction now is foolhardy. Call this Noah's Law: If an ark may be essential for survival, begin building it today, no matter how cloudless the skies appear.

It's understandable that the sponsor of the proposal believes Berkshire is especially threatened by climate change because we are a huge insurer, covering all sorts of risks. The sponsor may worry that property losses will skyrocket because of weather changes. And such worries might, in fact, be warranted if we wrote ten- or twenty-year policies at fixed prices. But insurance policies are customarily written for one year and repriced annually to reflect changing exposures. Increase possibilities of loss translate promptly into increased premiums.

So far, climate change has not produced more frequent or more costly hurricanes or other weather-related events covered by insurance. As a consequence, U.S. super-cat rates have fallen steadily in recent years which is why we have backed away from that business. If super-cats become costlier and more frequent, the likely - though far from certain - effect on Bershire's insurance business would be to make it larger and more profitable.

As a citizen, you may understandably find climate change keeping you up at nights. As a homeowner in a low-lying area, you may wish to consider moving. But when you are thinking only as a shareholder of a major insurer, climate change should not be on your list of worries.

Clinton Goes to Pennsylvania to Reap Windfall from Pennsylvania Frackers

Posted by Brad Johnson Thu, 28 Jan 2016 16:34:00 GMT

Clinton enters the Franklin Square Capital Partners headquarters through a back entrance. Credit: Yong Kim
Last night, Hillary Clinton attended a gala fundraiser in Philadelphia at the headquarters of Franklin Square Capital Partners, a major investor in the fossil-fuel industry, particularly domestic fracking. The controversial fracking industry is particularly powerful in Pennsylvania, which will host the Democratic National Convention this July.

Clinton has avoided taking any clear stand on fracking. While she has embraced the Clean Power Plan, which assumes a strong increase in natural-gas power plants, she also supports a much deeper investment in solar electricity than the baseline plan. The pro-Clinton Super PAC Correct the Record, run by David Brock, touts Clinton’s aggressive pro-fracking record.

Numerous grassroots groups have risen to oppose the toxic fracking of Pennsylvania and its labor abuses, including Marcellus Protest, No Fracking Way, Pennsylvanians Against Fracking, Keep Tap Water Safe, Stop Fracking Now, and Stop the Frack Attack.

As reported by the Intercept’s Lee Fang, “One of Franklin Square Capital’s investment funds, the FS Energy & Power Fund” the Intercept’s Lee Fang reports, “is heavily invested in fossil fuel companies, including offshore oil drilling and fracking.” The company cautions that “changes to laws and increased regulation or restrictions on the use of hydraulic fracturing may adversely impact” the fund’s performance.

Through its fund, Franklin Square invests in private fracking and oil drilling companies across the nation, as well as Canada and the Gulf of Mexico. This includes heavy investment in Pennsylvania frackers.

Franklin Square companies in the Pennsylvania fracking industry

Bold indicates a company that runs fracking wells in Pennsylvania (Eclipse Resources is a Pennsylvania-based company with fracking operations in Ohio). The other companies listed are industry service companies with business in Pennsylvania, including pipelines, trucking, chemicals, and power plants. Murray Energy runs coal mining operations in Pennsylvania.

Tickets to the event ranged from $1,000 to $27,000. Contributors at the $2,700 level got a photo taken with Clinton, and the $27,000 contributors were afforded the opportunity to meet and hear Jon Bon Jovi perform an acoustic set.

Timeline: During Paris Talks, D.C. Breathed Life Into U.S. Oil Industry

Posted by Brad Johnson Tue, 15 Dec 2015 15:37:00 GMT

Martin Heinrich (D-N.M.), December 3:

Hein­rich pre­vi­ously voted against a pro-ex­ports bill that cleared the En­ergy and Nat­ur­al Re­sources Com­mit­tee on a party-line vote, but signaled that he could sup­port ex­ports if they’re coupled with strong re­new­able-en­ergy in­cent­ives. “We are look­ing for things that bring people to the table from both sides,” he said. “I think there is a real op­por­tun­ity here. I hope we real­ize it.”

“It’s effectively carbon-neutral” to allow crude exports, Sen. Martin Heinrich (D-N.M.) told reporters last week, “because you’re going to burn the oil someplace under the current regime.”

Tim Kaine (D-Va.), December 3:

“There is a wide range of opin­ion [in the Demo­crat­ic caucus], some pro, some con,” Sen. Tim Kaine, a Vir­gin­ia Demo­crat, told Na­tion­al Journ­al. “The ma­jor­ity opin­ion is prob­ably [that] we’d be will­ing to con­sider it if we got some very strong en­ergy-ef­fi­ciency and green­house-gas-re­du­cing pro­vi­sions along with it.”

Heidi Heitkamp, December 9:

“The good news is there is no one saying ‘absolutely no,’ and there is a range of belief systems in terms of what you would need in order to accomplish the lifting of the ban,” Heitkamp said Tuesday. “We believe we’re at a spot where we could actually get a deal.”’

White House Press Secretary Josh Earnest, December 9:
In a press conference on Tuesday, White House press secretary Josh Earnest reiterated the administration’s position, but wouldn’t threaten a veto of the omnibus or tax extenders package if a provision lifting the decades-old ban on crude oil was tucked inside.

Democratic Senator Wants to Add Oil-Refiner Subsidy to Crude Export Deal

Posted by Brad Johnson Thu, 10 Dec 2015 17:25:00 GMT

Tom CarperSenator Tom Carper (D-Del.) has proposed a tax credit for oil refiners to be added to legislation that would lift the decades-long ban on crude oil exports. This double-subsidy deal for the oil industry during international climate negotiations belies Carper’s claimed concerns about climate change but would benefit Delaware refineries.

Politico’s Elana Schor reports that Carper wants “a narrowly crafted tax credit that would particularly help the East Coast refiners with the most to lose if producers can sell their product overseas. The credit, which large, integrated oil companies could not collect, would also spread some love among refiners in California and the Gulf Coast, creating a large band of members of Congress who might be willing to back it. Sources tells Elana that oil patch Senators are likely to push back hard on Carper’s proposal.”

Download the draft Carper oil-refiner tax-credit language, or see below.

SEC. lll. CREDIT FOR FUEL REFINED AT CERTAIN REFINERIES.
(a) CREDIT AGAINST EXCISE TAXES.—
(1) IN GENERAL.—Subchapter B of chapter 65 of subtitle F of the Internal Revenue Code is amended by adding at the end the following new section:
‘‘SEC. 6433. CREDIT FOR FUEL REFINED AT CERTAIN INDEPENDENT REFINERIES.
‘‘(a) ALLOWANCE OF CREDIT.—In the case of an eligible taxpayer, there shall be allowed as a credit against the tax imposed by section 4081 an amount equal to the product of—
‘‘(1) the number of barrels of crude oil which—
‘‘(A) are received after December 31, 2015, at a refinery owned by the eligible taxpayer, and
‘‘(B) not taken into account under this section for any preceding period, and
‘‘(2) $3.
‘‘(b) LIMITATION.—The amount of crude oil taken into account under subsection (a) for any day shall not exceed 155,000 barrels.
‘‘© SPECIAL RULE FOR CERTAIN REFINERIES RECEIVING CRUDE OIL BY LONG-DISTANCE PIPELINE.—
‘‘(1) IN GENERAL.—In the case of crude oil received at a refinery which is capable of receiving crude oil from a pipeline which is in excess of 35 miles long as of January 1, 2015, subsection (a) shall be applied by substituting ‘$0.30’ for ‘$3’ in paragraph (2) thereof.
‘‘(2) ORDERING RULE.—For purposes of applying the limitation under subsection (b), crude oil shall be treated as being received first at refineries to which paragraph (1) does not apply.
‘‘(d) DEFINITIONS AND SPECIAL RULES.—In this section—
‘‘(1) ELIGIBLE TAXPAYER.—
‘‘(A) IN GENERAL.—The term ‘eligible taxpayer’ means any taxpayer who owns a refinery other than a major integrated oil company (as defined in section 167(h)(5)(B)).
‘‘(B) AGGREGATION RULES.—For purposes of determining gross receipts under subparagraph (B), all persons treated as a single employer under subsection (a) or (b) of section 52 shall be treated as one person.
‘‘(2) BARREL.—The term ‘barrel’ means 42 United States gallons.
‘‘(3) FRACTIONAL RATE OF BARREL.—In the case of a fraction of a barrel, the credit allowed under subsection (a) shall be the same fraction of the amount of such credit with respect to a whole barrel.
‘‘(e) TERMINATION.—This section shall not apply to crude oil received after December 31, 2022.’’.
(2) PROTECTION OF HIGHWAY TRUST FUND.— The last sentence of section 9503(b)(1) of such Code is amended by inserting ‘‘or 6433’’ after ‘‘6426’’.
(3) CLERICAL AMENDMENT.—The table of sections for subchapter B of chapter 65 of subtitle F of such Code is amended by adding at the end the following new item:
‘‘Sec. 6433. Credit for fuel refined at certain independent refineries.’’.
(b) CREDIT AGAINST INCOME TAXES.—
(1) IN GENERAL.—Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:
‘‘SEC. 45S. INDEPENDENT REFINERY CREDIT.
‘‘(a) ALLOWANCE OF CREDITS.—For purposes of section 38, in the case of an eligible taxpayer, the independent refinery credit determined under this section for the taxable year is an amount equal to the product of—
‘‘(1) the number of barrels of crude oil which—
‘‘(A) are received after December 31, 2015, at a refinery owned by the eligible taxpayer, and
‘‘(B) not taken into account under this section for any preceding taxable year, and
‘‘(2) $3.
‘‘(b) LIMITATION.—The amount of crude oil taken into account under subsection (a) for any day shall not exceed 155,000 barrels.
‘‘© SPECIAL RULE FOR CERTAIN REFINERIES RECEIVING CRUDE OIL BY LONG-DISTANCE PIPELINE.—
‘‘(1) IN GENERAL.—In the case of crude oil received at a refinery which is capable of receiving crude oil from a pipeline which is in excess of 35 miles long as of January 1, 2015, subsection (a) shall be applied by substituting ‘$0.30’ for ‘$3’ in paragraph (2) thereof.
‘‘(2) ORDERING RULE.—For purposes of applying the limitation under subsection (b), crude oil shall be treated as being received first at refineries to which paragraph (1) does not apply.
‘‘(d) DEFINITIONS AND SPECIAL RULES.—For purposes of this section—
‘‘(1) any term used in this section which is used in section 6433 shall have the meaning given such term under section 6433, and
‘‘(2) rules similar to the rules of section 6433(d)(3) shall apply.
‘‘(e) COORDINATION WITH CREDIT AGAINST EXCISE TAX.—The amount of the credit determined under this section with respect to any crude oil shall be reduced to take into account any benefit provided with respect to such crude oil under section 6433.
‘‘(f) TERMINATION.—This section shall not apply to crude oil received after December 31, 2022.’’.
(2) TREATMENT AS PART OF GENERAL BUSINESS CREDIT.—Section 38(b) of such Code is amended by striking ‘‘plus’’ at the end of paragraph
(35), by striking the period at the end of paragraph
(36) and inserting ‘‘, plus’’, and by adding at the end the following new paragraph:
‘‘(37) the independent refinery credit determined under section 45S(a).’’.
(3) DENIAL OF DOUBLE BENEFIT.—Section 280C of such Code is amended by adding at the end the following new subsection:
‘‘(j) CREDIT FOR INDEPENDENT REFINERIES.—No deduction shall be allowed for that portion of the expenses otherwise allowable as a deduction taken into account in determining the credit under section 45S for the taxable year which is equal to the amount of the credit determined for such taxable year under section 45S(a).’’.
(4) CLERICAL AMENDMENT.—The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item:
‘‘45S. Independent refinery credit.’’.
(c) EFFECTIVE DATE.—The amendments made by this section shall apply to crude oil received after December 31, 2015.

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