Attention has been focused on the financial crisis recently. Yet a study headed by a Deutsche Bank economist concludes that the annual costs of forest destruction is between $2 trillion and $5 trillion. So while Wall Street has lost between $1-$1.5 trillion, we are losing "natural capital" at a rate of $2 to $5 trillion every year
It's not all that often that front-rank political leaders call for civil disobedience, but that's just what Al Gore did in New York on September 24 at a meeting of the Clinton Global Initiative. "I believe we have reached the stage where it is time for civil disobedience to prevent the construction of new coal plants that do not have carbon capture and sequestration," the ex-veep and planetary crusader said, "to loud applause," according to Reuters.
What's happened in Congress during the last two weeks on energy and drilling issues could send us several major steps backwards on the road to a clean and prosperous energy future.
As I write this, Congress—instead of passing measures to further increase fuel efficiency and reduce oil demand—is capitulating to the "drill, baby, drill" drumbeat. At midnight, two critical moratoriums will lapse: on offshore drilling and oil shale development in the West. At the same time, crucial tax incentives for wind and solar energy have yet to be renewed.
The phosphate mines in Florida are so damaging that their ugly scars on the planet can be clearly seen from space. Florida's public rivers, lakes, streams, and coastal waters pay the price for these corporate strip mines, year after year.
Attorney Monica Reimer in Earthjustice's Florida office has filed an important lawsuit that challenges federal approval for one of these mines near the beautiful Peace River outside Bradenton.
We found it curious when the DC-based National Association of Home Builders (NAHB) sued a local air pollution board in California. Why would a big national trade association care about a local air pollution rule?
Well it turns out, NAHB had hoped to stop "Indirect Source Review" rules from spreading to other jurisdictions across the nation.
Earthjustice has been accused of being many things, including preferring birds over people (which reminds me of a fine old quote. Charles Callison, a stalwart of the Audubon Society, was once asked whether he liked people or birds better. He said, "I like the people who like birds.").
I heard Al Gore on "NPR Science Friday" a few weeks back talking about what it would take to get us out of the climate catastrophe that's bearing down on us. The biggest single step, he said, would be to convert the entire U.S. vehicle fleet to electricity. He said that is possible within 10 years if we—industry and government in the main—mount an effort akin to what we did for World War II.
All well and good, but government and industry almost never move that fast.
Until now. The Wall Street-mortgage-Fannie-Freddie-Merrill-AIG-who's-next crisis has politicians, bureaucrats, and captains of industry moving faster than they ever have before, and we're about to see a $700 billion bailout that may not even work.
Just think if those same forces took the climate crisis seriously enough to do something similar on that score. We could turn the climate mess around in Al Gore's 10 years, easy. And everyone would be the better for it, including Wall Street.