ExxonMobil Not Very Concerned that Climate Change Regulations May Affect Business

New York, NY -- On the same day the world's scientists issued their latest report on climate change and the risks it poses to society, the nation's biggest oil and gas company said the world's climate policies are "highly unlikely" to stop it from selling fossil fuels far into the future.

Exxon Mobil issued a report Monday on the risks that climate change policies could pose to the value of its assets and future profitability, by coincidence on the same day as the latest paper by the Intergovernmental Panel on Climate Change, a Nobel Prize-winning United Nations group assembled to assess the science and risks of climate change.

Both Exxon and its critics used IPCC research to bolster their cases.

Exxon's report was in response to the contentions of some shareholders and environmental activists that the assets underpinning the value of Exxon and other fossil fuel companies will be worth less as society restricts consumption of fossil fuels to fight climate change.

The report, the first detailed response to these concerns by a major oil company, acknowledges the need to adopt policies to address climate change. But it concludes that because oil and gas are so critical to global development and economic growth, governments are "highly unlikely" to adopt policies that cut emissions so sharply that fossil fuel consumption would be severely restricted.

"We know enough based on the research and science that the risk (of climate change) is real and appropriate steps should be taken to address that risk," Ken Cohen, Exxon's government affairs chief, said in an interview Monday. "But given the essential role that energy plays in everyone's lives, those steps need to be taken in context with other realities we face, including lifting much of the world's population out of poverty."

Natasha Lamb, director of equity research at Arjuna Capital, a sustainable wealth management group that filed the shareholder resolution with Exxon, called Exxon's report a "milestone."

"It's a huge first step in the right direction and it shows a lot of leadership," she said. Arjuna and As You Sow, a nonprofit that promotes environmental corporate responsibility, agreed to withdraw their resolution after Exxon agreed to issue a report on climate risks.

But Lamb said she was disappointed that Exxon declined to explain what would happen if society did in fact adopt policies that would lead to sharply lower emissions, something known broadly as a low-carbon standard.

"The question is not whether or not we'll face the low carbon standard, but whether they are prepared to address it. We need to know what's at stake," she said. "But at least now investors know that Exxon is not addressing the low carbon scenario and (is) placing investor capital at risk."

Exxon and the environmental groups agree that climate change is a risk and that society will take steps to reduce emissions from fossil fuels to slow the buildup of greenhouse gases in the atmosphere. They differ, however, on how drastic society's response could be, and what would cost more — severely restricting fossil fuel consumption or not doing so and allowing more carbon dioxide to build in the atmosphere.

Exxon, along with other private and government energy researchers, believes that demand for fossil fuels will continue to grow around the world as more people demand access to electricity, heat, and transportation. Exxon predicts that carbon dioxide emissions from energy sources will peak by about 2030 and then begin to decline as society becomes more efficient and switches to lower-carbon fuels.

The Irving, Texas-based company's report notes that its emissions predictions track closely with the IPCC's "intermediate" scenario considered in its last report.

Exxon says that renewable energy sources are not now cheap enough nor technologically advanced enough to meet growing demand for energy, let alone also replace oil and gas. Governments therefore face a choice between restricting access to energy or raising the cost of energy significantly. In Exxon's view, governments will chose to raise the cost of fossil fuels to encourage alternatives somewhat, but stop well short of enacting policies that will sharply curtail consumption, especially in developing countries, because populations would resist and social upheaval would result.

Arjuna Capital's Lamb disagrees. "There's greater risk of social upheaval from climate change itself," Arjuna Capital's Lamb says. "(Exxon's report) ignores the cost of inaction."

Lamb points to some of the conclusions in the latest IPCC report, which says climate change will worsen problems that society already has, such as poverty, sickness, violence and displacement.

The report also says climate change will slow down the benefits of a modernizing society, such as regular economic growth and more efficient crop production — exactly the types of things that Exxon argues are delivered now only by relatively cheap and available fossil fuels.

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Department of Energy Announces $102 million for small business research

The Department of energy announced on June 27, it is to new funds for 104 small businesses nationwide. The grants amounting to more than $102 million, supported with the commercialization and job creation to develop a strong potential companies in 26 countries, companies, promising technologies help.

From the Department of energy small business innovation programs funded research (SBIR) and small business technology transfer (STTR), are the choices for phase II work. In phase II, are companies build on the conceptual work in phase I and track to take the next steps in the technologies to the market. The phase II Awards are up to 1 million $ for work for two years. The awards support developing technologies in areas of large wind turbines up to more energy-efficient data centers. For example, the Xunlight works 26 solar company of Toledo, Ohio, on transparent, flexible cadmium telluride modules for photovoltaic. See the DOE press release, the list of awards and the site SBIR and STTR.

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Department of energy announces funding for small business efficiency and renewable research

The Energy Department on 9 April announced that up to $9 million this year to about 50 small business innovative energy efficiency and renewable energy fund to advance. This initiative helps companies with promising ideas, which cut improvement of manufacturing processes, building efficiency increase, oil dependency, and electricity from renewable energy sources to generate.

DOE's Office of energy efficiency and renewable energy (EERE) provides funding through the Department of small business innovation research and small business technology transfer programs. These allow federal agencies with large budgets for research and development at a fraction of their funding for competitions between small business aside. Small businesses win awards in these programs to develop the rights to all technologies and they are prompted to market them.

Call this wide-ranging topic of research are small businesses broadly framed to work problems and achieving goals, and gives them the freedom to renew. It promotes even small companies with groundbreaking concepts for a part of research teams, the EERE programs. The possibility of financing includes 8 width themes and sub-themes 30 areas including advanced manufacturing, energy-efficient buildings, biomass, hydrogen and fuel cells and solar energy, wind and water power technologies. The Department of energy funded are selected small businesses with one year, awards of up to $150.000. Prize winner with successful projects have the option to compete for more than $1 million in follow-on funding. See the EERE progress alert and the application for the funding opportunity announcement for the funding opportunity Exchange Web site.

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Leading Business Intelligence On The Middle East & North Africa

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JEDDAH - Jordan's pursuit to become a nuclear energy state, though promising, faces several major obstacles, Brookings Institution's "Models for Aspirant Civil Nuclear Energy Nations in the Middle East" report said.

The study, released lat month, pointed out that rising electricity demand, desalinization needs, and opportunity cost of consuming domestic energy resources all point to the need to adopt nuclear energy.
The report noted that Jordan faces two major challenges in its nuclear drive, namely shortages of both expertise and funds.

Despite the presence of uranium reserves - estimated at over 100,000 tons - the country lacks the finances to bear up-front capital costs without placing stress on the state budget. "Unless Jordan plans to link with a broader Gulf grid, it simply makes no sense to build a 1,000MW reactor for internal use," Ebinger added.

According to the report, Jordan's best option would be a turnkey project, under which a major vendor would assume all up-front costs and sell the plant to the government upon completion of construction.

The study noted that Jordan is relying on an unusual approach, a public-private partnership model, with the Kingdom bringing in a strategic partner to help defray up-front capital costs. "With all the turmoil in the region there is a growing perception that money needs to be diverted from these programs to support pressing social issues," said Charles Ebinger, director of Brookings' Energy Security Initiative and an author of the report.

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Start solar power on new business direction

{"s": "slre.pk", "k": "a00, a50, b00, b60, c10, g00, h00, l10, p20, t10, v00", "o": "","j": ""} Press release Source: Solar energy limited on Tuesday June 21, 2010, 8:36 pm EDT

PALM DESERT, Kalifornien-(BUSINESS WIRE) - Solar energy limited ("SLRE"), ("solar") has various business opportunities have been explored. It has identified several projects in the sunny field, real estate, biochemistry, and mining.

Intends, to some of the ways to back up and at the end of transactions made available:

Solar will in fact act as a development company for selected business ventures.

Additional information is provided as soon as one of the projects has secured.

Forward looking statements

A number of statements in this press release are forward-looking statements. A safe harbor provision may not apply to the forward-looking statements in this press release. These forward-looking statements involve a number of risks and uncertainties, including the adequacy of the existing own resources and identifies solar's ability to fund this business opportunities here. This includes forward-looking statements due to such risks and uncertainties are the actual results that can reach solar. The public in connection with his recent filings on form 10-KSB and form solar promotes 10-QSB read information here provided. Solar public registrations are available at http://www.sec.gov.

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Hawaii business impact low markets.

Territorial Bancorp, Inc., Barnwell Industries Inc. and Hawaiian Electric Industries Inc. was the only Hawaii businesses find your stocks add value during the trade Tuesday and all less than 1 Perent obtained from them.

Larger markets ended Tuesday with losses: the Dow Jones industrial average was to close down 41.55 points on 12,226.64 and close the NASDAQ down 12.83 points to 2,804.35.

Gainers:

Hawaiian Electric Industries Inc. (NYSE: it) Castle at $24.80 to 3 cents.

Barnwell Industries Inc. (AMEX: BRN) Castle at $6.26, up 2 cents.

Territorial Bancorp, Inc. (NASDAQ: TBNK) Castle at $19.74 to 7 cents.

Loser:

Alexander and Baldwin Inc. (NYSE: ALEX) Castle at $42.01, from 50 cent.

Hawaiian holdings, Inc. (NASDAQ: HA) Castle at $7.07, down 8 cents.

Bank of Hawaii Corp (NYSE: BOH) Castle at $47.48, down 58 cents.

Maui land and pineapple co. (NYSE: MLP) Castle at $6.81, down 19 cents.

Cyanotech Corp. (NASDAQ: CYAN) Castle at $2.62, down 2 cents.

Hoku Corp. (NASDAQ: HOKU) Castle at $2.30, down 8 cents.

Unchanged:

Central Pacific Financial Corp. (NYSE: CPF) Castle at $30.62.

ML macadamia orchards (other OTC: SPELLS) closed at $2.90.

Territorial Bancorp, Inc., Barnwell Industries Inc. and Hawaiian Electric Industries Inc. was the only Hawaii businesses find your stocks add value during the trade Tuesday and all less than 1 Perent obtained from them.

Larger markets ended Tuesday with losses: the Dow Jones industrial average was to close down 41.55 points on 12,226.64 and close the NASDAQ down 12.83 points to 2,804.35.

Gainers:

Hawaiian Electric Industries Inc. (NYSE: it) Castle at $24.80 to 3 cents.

Barnwell Industries Inc. (AMEX: BRN) Castle at $6.26, up 2 cents.

Territorial Bancorp, Inc. (NASDAQ: TBNK) Castle at $19.74 to 7 cents.

Loser:

Alexander and Baldwin Inc. (NYSE: ALEX) Castle at $42.01, from 50 cent.

Hawaiian holdings, Inc. (NASDAQ: HA) Castle at $7.07, down 8 cents.

Bank of Hawaii Corp (NYSE: BOH) Castle at $47.48, down 58 cents.

Maui land and pineapple co. (NYSE: MLP) Castle at $6.81, down 19 cents.

Cyanotech Corp. (NASDAQ: CYAN) Castle at $2.62, down 2 cents.

Hoku Corp. (NASDAQ: HOKU) Castle at $2.30, down 8 cents.

Unchanged:

Central Pacific Financial Corp. (NYSE: CPF) Castle at $30.62.

ML macadamia orchards (other OTC: SPELLS) closed at $2.90.

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