C3 Summit: Alternative Energy vs. Fossil Fuel Supplies

There is little doubt that we are going to run out of fossil fuels one day. Yet, our demands for energy will not decrease. Despite the promise of renewable energy, collectively renewables provide only about 7 percent of the world’s energy needs. So where do we go from here?

A few weeks ago, I participated in a panel at the C-3 Summit in New York. The Summit is "an exclusive event dedicated to building new relationships, fostering existing partnerships and exchanging best practices between the U.S. and the Arab world by building a cohesive global community through collaboration and international commerce."

The panel was moderated by Dan Nelson, a former ExxonMobil executive who now runs a consultancy called International Strategic Insights.

It was a great panel, with particularly smart insights coming from the other panelists, including Ambassador Jarl Frijs-Madsen, Royal Danish Consulate General, Mark Fulton of Deutsche Bank, David Pursell of Tudor Pickering Holt & Co, and Peter Gish of UPC Renewables.

My own modest contribution focused on the price and perception issues related to renewable energy and what I learned from spending time with Tom Hicks of the US Navy earlier in the week.

Here is the video of the panel:

Get Rid of All Energy Subsidies: The Green Skeptic on FOX Business

I was on FOX Business this morning with Stuart Varney & Co, taking about oil subsidies and arguing for a balanced use of fossil fuels and alternative energy.

Here is the video:



And here is a link if the player doesn't work in your browser: GreenSkeptic on FOX Business

Global Clean Energy Investment $243 billion; US Drops to 3rd

Once the top dog in clean energy, the United States dropped to third place in terms of investment, falling further from the top spot it held in 2008, with only $34 billion in private clean energy investments.

China continues to lead, according to a new report by the Pew Charitable Trusts, attracting a record $54.4 billion in clean energy investments in 2010 -- a 39 percent increase over 2009 and equal to total global investment in 2004. Germany saw private investments double to $41.2 billion and was second in the G-20, up from third last year.

"The clean energy sector is emerging as one of the most dynamic and competitive in the world, witnessing 630 percent growth in finance and investments since 2004," said Phyllis Cuttino, director, Pew Clean Energy Program. "In 2010, worldwide finance and investment grew 30 percent to a record $243 billion."

The good news is: investment in clean energy has bounced back from the recession, at least globally.  The question is, will the US be able to keep pace in the years to come?

That China leads will come as no surprise to readers of The Green Skeptic.  That the US is slipping further down the ladder is more disturbing to those of us who see the new green economy as a platform for our competitiveness in the global marketplace.

Related articles

• U.S. Drops To Third Place in Clean Energy Investment (blogs.forbes.com)
• U.S. drops to 3rd in clean-energy investment (scientificamerican.com)
• Clean energy investment hits record high (financialpost.com)
• U.S. drops to 3rd in clean-energy investment: Pew (reuters.com)
• China tops 'clean energy league' (bbc.co.uk)
• Does It Matter Which Nation Leads In Alternative Energy (247wallst.com)

Green Energy Reporter's Top 10 Players in Green Energy for October

John Woolard, Brightsource

Always interesting to see who makes the monthly "Top 10 Players in Green Energy" list from our friends at Green Energy Reporter.  Here is their Top 10 for October.


Google hanging at #2 for the second month in a row.

Brightsource Energy's John Woolard in the number one spot.

And BP is a sleeper in the #4 spot -- but GER explains that steadily increasing investments in alternative energy helps BP go from corporate villain to list worthy.


It just shows to go ya...

Missing GridWeek, But Staying on Top Via Twitter

I'm missing GridWeek in DC this week because of some compelling work with a new VerdeStrategy client that has a big announcement later this week.  But I'm able to catch up and keep tabs on what's happening via friends who are there and the hashtag feature on Twitter: #GridWeek.


Here's a sample screenshot:

Pretty cool that you can almost be there when you can't be there...

Green Skeptic Friday LinkFest - 08/06/10

An EV1 all-electric car by GM that escaped in 2005.

Digging in this week post-vacation.

After five months of intense work with some great clients, my consultancy, VerdeStrategy, finally has a couple of open slots for new projects and clients. Contact me here if your company can use some help with strategic communications, business planning or developing your investor presentations.


Now, after that shameless self-promotion message, on to the links.


A lot of Electric Vehicle love  this week:

First, how'd you like to travel from Alaska to Argentina in an Electric Sports Car? Greentech Media has a story about two entrepreneurs who did just that: Sports Car

Anna Clark from GreenBiz explains that consumer choice will be the ultimate driver when it comes to EVs in Selling Electric Cars Requires Plugged-In Drivers

CleanTechies blog notes that Fast Vehicle Charging Goes by Many Names (Just don't call it Al...)

And here's a video link to my appearance on FOX Business Network this week on $GM and the Chevy Volt: Green Skeptic on FOX

All that EV goodness aside, our StockTwits pal Gregor MacDonald reminds us that we're still Eating Gasoline in America

Is solar now cheaper than new nuclear? A new US study says it's true in North Carolina: Solar

Up next: Two Energy Efficiency Stories from Beantown (or thereabouts):

Always smart @cleantechvc on Energy Efficiency: Where angels will shine.

And congratulations are in order for Green Skeptic-favorite EnerNoc (ENOC) on a profitable quarter and almost 5GW under management: $ENOC

Have a great weekend everyone!


(Disclosure: I hold long positions in ENOC. This post is for informational purposes only and is neither intended to be investment advice nor an offer, or the solicitation of any offer, to buy or sell any securities.)

Pass or Fail? Obama's State of the Union and Clean Energy Future

Did President Obama pass or fail on energy in last night's State of the Union address?  I wasn't watching, but I've read the transcript.  Here are some of the choice bits:

"We can put Americans to work today building the infrastructure of tomorrow. From the first railroads to the Interstate Highway System, our nation has always been built to compete. There's no reason Europe or China should have the fastest trains, or the new factories that manufacture clean energy products."

Totally agree. We are already losing the clean energy race and need to do a lot to catch up.

"We should put more Americans to work building clean energy facilities and give rebates to Americans who make their homes more energy-efficient, which supports clean energy jobs. And to encourage these and other businesses to stay within our borders, it is time to finally slash the tax breaks for companies that ship our jobs overseas, and give those tax breaks to companies that create jobs right here in the United States of America."

Okay. A little protectionism, a little nod to a giving something back to Americans for investing in efficiency.

"I am grateful to the House for passing such a bill last year. And this year I'm eager to help advance the bipartisan effort in the Senate. I know there have been questions about whether we can afford such changes in a tough economy. I know that there are those who disagree with the overwhelming scientific evidence on climate change. But here's the thing, even if you doubt the evidence, providing incentives for energy-efficiency and clean energy are the right thing to do for our future, because the nation that leads the clean energy economy will be the nation that leads the global economy. And America must be that nation."

I'm not sure passing the current Senate effort is the right thing to do. I think cap-and-trade is dead on arrival now and we need to shift the focus on innovation and investment. The important phrase in the above remark is

"...the nation that leads the clean energy economy will be the nation that leads the global economy."

Can we get there? I'm not convinced we have the political will or that Obama can carry the day. His approval rating sucks and new polls are pointing to a continuing decrease in belief among Americans in climate change. But I do agree that we can't afford to wait any longer, as the President put it last night

"China's not waiting to revamp its economy; Germany's not waiting; India's not waiting. These nations, they're not standing still. These nations aren't playing for second place. They're putting more emphasis on math and science. They're rebuilding their infrastructure. They're making serious investments in clean energy because they want those jobs."

The President also said he does not "accept second place for the United States of America." Second place? In many respects we are already in third and the leaders are pulling away.

And we're not going to get there without massive investment in innovation, as Bill Gates said in his blog last week, we need "a distributed system of R&D with economic rewards for innovators and strong government encouragement is the key. There just isn't enough work going on today to get us to where we need to go."

I disagree with Gates that it is either efficiency or innovation; this is a false dichotomy. We need to fire on all cylinders. Just as with the President's nods to nuclear, offshore drilling, and "clean coal" last night, which were not just bones to GOP dogs, we need to deploy all solutions --and now.

I'm just not sure whether President Obama, rhetorical skills aside, has the political capital to wrangle the support he needs to make the necessary bold steps.

As for the speech, I give him a B-.

"What Keeps You Up at Night?"

Lou Rappaport of Blank Rome asked me a disturbing question the other day at the MAC Alliance Conference in Philadelphia.

On the face of it, Lou's question was a simple one:

"What keeps you up at night?"

We were interrupted before I could answer, but Lou's question lingered with me.

In fact, it kept me up the past couple of nights.

By way of an answer now, here are seven things that keep me up at night:

1.) We will fail to embrace change and tackle the new green economy.

2.) We are so deeply entrenched in partisan politics that we will blow this opportunity to lead in a sector (alternative energy) that we invented.

3.) The Dems have made climate and energy a "left" issue and the right has ceded it to them. Where is the GOP leadership stepping up to fill the McCain void on these issues?*

4.) Enviros and NIMBYs will kill the energy economy transformation by blocking efforts on clean coal, nuclear, natural gas exploration, and the new electric grid just as they did with wind farms and offshore drilling.

5.) We don't have time to dither, yet we are a nation of inveterate ditherers.

6.) While we dither and dawdle, China is ready to seize the day.

7.) I don't know Mandarin.

____________________________________________
*(Note: This is deeply disappointing for the party of Teddy Roosevelt and Richard Nixon, which once led on issues now considered clean and green – and that now seems blind to this incredible opportunity for wealth generation.)

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KVA & Portable Light's Sheila Kennedy on Clean Energy Solutions

Back in March at the Aspen Environment Forum, I facilitated a panel called Energy Equity: Clean Energy for All, in which we discussed exciting new alternative energy innovations with the potential to change the lives of the "bottom billion" of the world's poor.

One of our panelists, Sheila Kennedy of KVA Kennedy & Violich Architects and the Portable Light Project, shared her designs for textiles with flexible solar materials and solid state lighting that enables people to create energy harvesting bags, blankets, and clothing using local materials and traditional weaving and sewing techniques in an open source model.

Tonight, Sheila will share her latest developments on the show "Brink," on CBS Science Channel.

"At the Aspen Forum, our discussions revolved around what we can do right now to rethink the delivery model for clean energy so it can become more widespread, accessible and enjoyable as a part of everyday life," Sheila wrote to me recently. "It's my hope that our designs can set a new direction for 'ready out of the box' clean energy products and building components that can drive the green economy —- in the developing world and right here at home."

KVA's work with energy harvesting textiles is being featured on a special episode of Brink on "Sustainable Living" tonight at 10:30 PM EST: "Brink"

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Vive la France: First Solar to build largest solar plant in France

EDF Energies Nouvelles (EDF EN) and First Solar, Inc. (Nasdaq: FSLR) today announced a venture to build France’s largest solar panel manufacturing plant. With an initial annual capacity of more than 100MWp, the plant will produce solar panels made with First Solar’s advanced, thin-film photovoltaic technology.

According to a press release today, First Solar will build and operate the plant in France, representing an expected investment of more than €90 million. The initial annualized capacity of the plant is expected to exceed 100MWp, according to FSLR, making it the largest manufacturing facility for solar panels in France.

EDF Energies Nouvelles has agreed to finance half of the capital expense and plant start-up costs and will benefit from the plant’s entire output for the first 10 years. First Solar and EDF EN intend to announce their decision on the site location within the next few months.

First Solar’s manufacturing site will also include a facility for recycling solar panels, France’s first such facility and Europe’s only solar panel recycling plant outside of Germany.

For more information see: First Solar

(Disclosure: Long FSLR)

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Obama's Energy Bill passed in the House Friday, but still has a long way to go

In Earth2Tech this morning, Josie Garthwaite has a good piece on Reactions to the Energy Bill: Obama, Cleantech Biz, Environmentalists:

The energy bill passed the House on Friday, but the proposed cap and trade system and new incentives for renewable energy are still a long way from going into law as the Senate needs to pass its own version. As we transition to the next round of negotiations and lobbying, stakeholders from the White House to industry trade groups, environmental organizations and cleantech companies have been weighing in on the version that won approval in the House — and on where they’d like to see it go from here.

Since Friday’s vote, President Obama has continued his support for the legislation, as well as his efforts to win over lawmakers. (He phoned wavering legislators last week to help the bill clear the House.) This weekend during his radio address and media interviews, Obama called for senators to "come together" around the legislation, which he said "will finally make clean energy the profitable kind of energy." In an interview with a group of reporters, Obama also said the bill would provide "clarity and certainty" and would "end up being much less costly, much more efficient; technology is going to move much more rapidly than people anticipate."

Read the full piece here: Energy Bill Reactions

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David MacKay: Let's get real about alternative energy

David MacKay, a professor of physics at the University of Cambridge, offered a sober reminder to pay attention to the math when talking about alternative energy in a commentary for CNN.com this week:

We need to introduce simple arithmetic into our discussions of energy.

We need to understand how much energy our chosen lifestyles consume, we need to decide where we want that energy to come from, and we need to get on with building energy systems of sufficient size to match our desired consumption.

Our failure to talk straight about the numbers is allowing people to persist in wishful thinking, inspired by inane sayings such as "every little bit helps."

Assuming we are serious about getting off fossil fuels, the scale of building required should not be underestimated. Small actions alone will not deliver a solution.

Let's express energy consumption and energy production using simple personal units, namely kilowatt-hours. One kilowatt-hour (kWh) is the energy used by leaving a 40-watt bulb on for 24 hours. The chemical energy in the food we eat to stay alive amounts to about 3 kWh per day. Taking one hot bath uses about 5 kWh of heat. Driving an average European car 100 kilometers (roughly 62 miles) uses 80 kWh of fuel. With a few of these numbers in mind, we can start to evaluate some of the recommendations that people make about energy.

Read his full commentary here.

Professor MacKay's book, "Sustainable Energy - Without the Hot Air," is published by UIT Cambridge and is also available in electronic form for free from http://www.withouthotair.com/.

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DOE Announces $3.3B in Grants for Smart-Grid Initiatives

"The Smart Grid is the iPod of the energy industry," Audrey Zibelman, CEO of Viridity Energy, said last week. Getting a sophisticated, two-way communication system that matches knowledge with efficiency, and maybe even gets better information into the hands of energy consumers is a critical step in ensuring we have reliable power to meet increasing demand.

Now the U.S. Department of Energy (DOE) is getting into the act, the American Recovery and Reinvestment Act, to be precise, as they announce plans to distribute more than $3.3 billion in so called smart-grid technology development grants and an additional $615 million for smart grid storage, monitoring and technology viability.

Read the Full Story: DOE & Smart Grid.

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Speaking Today at Nationwide Town Hall on a Just and Clean Energy Future , Drexel University

Today, I'm speaking at Drexel's Town Hall on a Just and Clean Energy Future, part of Focus the Nation's Nationwide series of Town Hall meetings.

I'll be part of a panel on the Clean Energy Economy, with Audrey Zibelman, Viridity, LLC, Jason Brady of the Blue Green Alliance, and Kate Houstoun of Sustainable Business Network of Greater Philadelphia.


Pennsylvania Senator Arlen Specter is scheduled to lead the a Town Hall style discussion before my panel. I will be interested to hear his remarks and hope the focus is on energy efficiency, innovation, and private sector investments to jump start the new green economy.

Will try to update with a post tonight.

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Review: Perfect Power by Robert Galvin and Kurt Yeager

Robert Galvin knows a thing or two about technology revolutions. As founder and CEO of Motorola, Galvin helped transform the telecommunications industry. The cell phone was developed while he led Motorola and went up against a deeply entrenched and government regulated monopoly.

Galvin foresees a similar opportunity – and similar challenges – with the electricity revolution. Just as the decentralized cell phone was a threat to hard-wired phone companies, decentralized energy is a similar threat to centralized power.

In Perfect Power: How the Microgrid Revolution Will Unleash Cleaner, Greener, and More Abundant Energy, Galvin and co-author Kurt Yeager, from power-industry think-tank the Electric Power Research Institute, offer their view on the coming energy revolution.

The revolution will not be postponed, Galvin and Yeager conclude, because today's consumers and their devices demand it. But what's needed is for electricity to be viewed, as Edison originally envisioned it, "as the enabling vehicle for innovative consumer products and services, not as just another form of commodity energy."

Galvin and Yeager's answer is a new, revitalized smart microgrid system to replace the outmoded centralized system based on technologies developed prior to the 1950s. Galvin and Yeager call for investment in a transformative infrastructure and loosening of rules and regulations that inhibit decentralized, entrepreneurial responses to increasing energy needs.

One such bureaucratic barrier to distributed generation and decentralized microgrids, according to Galvin and Yeager, is that "only public utilities or governments [can] run wires that cross a public street or even to power remote villages."

While we've seen challenges to this status quo from energy entrepreneurs around the world, such as Fabio Rosa in Brazil, I wonder whether a certain amount of regulation is appropriate here in the US. I'm not sure I want my neighbor tapping into the electrical wires running down our street, potentially putting the whole system at risk. But a well-trained, certified group of service providers might be a different story.

Indeed, this is what the authors call for, envisioning "the emergence and growth of local service businesses, not unlike plumbing, heating, and electronic specialists, that install, maintain, and fine-tune the perfect power system to the highest quality standards, while dramatically cutting costs for all consumers."

Increasing energy demand in the US and around the world – almost one-third of the world's population is currently without electricity and that number is expected to double by mid-century – will force the hand, much like consumer demand for cell phones transformed the way we communicate.

Galvin and Yeager see an abundance of opportunity in the problem of upwardly spiraling demand and need, but not from government prescriptions and regulations, despite recent developments in the US.

"The key to change is free enterprise," the authors conclude. "This means no barriers to entry, the availability of clear and accurate price signals, an absence of subsidies, and the elimination of predatory practices."

In fact, the revolution has already begun. As the authors suggest, "Consumers, communities, and utilities alike are being confronted with a 'perfect storm' of converging cost, quality, and environmental issues that urgently require the smart, entrepreneurial transformation of our obsolete electricity infrastructure and its state-regulated monopoly, retail service business model."

The book struggles between being a manifesto for a new energy model and investment advice manual. The lists of companies and institutions at the end of each chapter seem tangential and superfluous. I would have cut the book by 100 pages or more, making it the perfect size for a cross country flight.

As it is, I'm not sure the audience for this book will wade through the authors' enthusiasm for their "perfect" model and promotional language associated with Galvin's Electricity Institute to find the kernels of good information about the coming energy revolution.

My Three Take-Aways from Aspen Environment Forum 2009

As the Aspen Environment Forum 2009 winds down, I am reflecting upon my three take-aways from the conference:

1) China will stay on the Green Path and it is essential that US and China find ways to cooperate on Climate Change, Clean Tech (hybrid electric cars), and Carbon Capture and Storage.

2) Confirmed my opinion that the real game-changing technologies and innovations are not going to come from the big, dinosaur players in industry or environment, but from the small, disruptive companies.

3) We have a tremendous opportunity with Dr. Jane Lubchenco at the helm of NOAA to get some more rigor and pragmatism to the debate on climate change impacts, mitigation, and adaptation.

Fantastic final day at AEF09.

Energy Expert Sees a Perfect Storm of Opportunity in US Mid-Atlantic Region

Tom Tuffey, an energy expert with 35 years in the environmental field, spoke to a rapt crowd of 225 clean energy enthusiasts at the REBN, Mid-Atlantic's second event last night.

Tuffey, who runs the energy and environment practice at PennFuture, talked about a perfect storm of opportunity, incentives, and capital coming into the region's burgeoning clean tech sector.

The crowd, gathered in the upstairs room of Maia Restaurant in Villanova, PA, consisted of entrepreneurs, investors, and service providers who hope to benefit from the scenario Tuffey described.

"You need to be vigilant," Tuffey cautioned. "Lest your boat spring a leak or get swamped by the sea of competitors in this storm."

As an example of what Tuffey sees in terms of opportunity is the region's nascent solar development.

"We're behind on solar," Tuffey said. "But I believe solar installations in the state will grow from the current 600-700 to 13,000-14,000 in the next few years."

State legislation passed last year, designed to reduce electricity demand in Pennsylvania will also contribute to alternative energy development in the state.

"It's just coming fast and furious from every side," Tuffey said. "The opportunity is tremendous and you need to figure out your piece of it, concentrate on that, and be diligent."

Those who do, Tuffey suggested, will thrive.

Many in the crowd hope to be among those who thrive. And their excitement was palpable as Tuffey reported a litany of numbers that grew to upwards of a billion dollars in alternative-energy and efficiency investments he expects to pour into the state over the next few years.

This is a perfect storm that stands to raise all boats, according to Tuffey, from the entrepreneurs in the room to the guys with hammers and caulking guns Tuffey met with earlier in the day.

"It's a terrific opportunity for the region and a great thing to see," Tuffey concluded.

The Renewable Energy Business Network (REBN), Mid-Atlantic Chapter, was launched in February to help build networking opportunities and build momentum for the clean tech sector throughout the region. (For more info, visit http://rebn.org/mid-atlantic)

[Disclosure: The author is the co-Chair/founder of the REBN, Mid-Atlantic Chapter and serves on its board.]

Review: Billion Dollar Green by Tobin Smith

"You've got to have shitloads of M-O-N-E-Y, money," Liz Phair growled, back when she knew how to growl. It's true.

Readers of this blog know I believe the only way we shift to a new green economy and address global environmental issues is by turning greed to green.

When it's clear money can be made, folks will turn to greener pastures. From the number of green investing books I've seen over the past year, people are starting to think maybe the time has come.

I was surprised by a book Wiley sent me recently, Billion Dollar Green: Profit from the Eco Revolution. Surprised, in part, because it didn't look like a "green" book.

Sure its color is green and the type is ecofriendly. But then there's the guy in the suit. He looks like a banker in his contrast-collar shirt and pinstripes or a television personality the way he's facing the camera awaiting his cue.

Enter Tobin Smith, founder and editor of ChangeWave Investing and co-star of Fox News Channel's "Bulls & Bears."

Smith, who had a bestseller with his 2000 book ChangeWave Investing: Picking the Next Monster Stocks of the New Economy, has built his reputation on identifying ways to make money from periods of change.

Only trouble is, everything changed once this book hit the shelves. Green was golden when this book was being written and when it went to press, but by December green's gold had tarnished just a bit too much for most investors.

It's not Smith's fault. He has some good insights in Billion Dollar Green. It's just that the profit may be a longer way off.

I agree with many of his green stock choices (including some of my longs) and the future market potential he sees in the smart grid, LED lighting, efficiency, and advanced batteries.

Perhaps Smith's best insight occurs in his preface:

"It was this early recognition of the secular shift in the supply and demand for fossil fuels in the new twenty-first century global economy that led us to conclude that, for the very first time, economics -- not just environmentalism or tree-hugging wannabes -- would drive the decades-plus secular transition to alternative energy technology."

That's the new green economy, baby. Driven by the economic opportunity, not altruistic idealism. Bring it on!

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Obamulus Rex: President's B787 Ready to Fly the Friendly Skies

After passing with a large majority of Democratic votes and 0 Republicans in favor, the $787B StimPack, known as the American Recovery and Reinvestment Act (ARRA), was signed into law today by President Obama, ringing in what he hopes will be the beginning of the recovery process.

The Administration hopes to kick-start the new green economy by rapidly increasing development of renewable energy and increasing energy efficiency in buildings and appliances, as well as throughout major sectors of the economy.

The major energy investments in the StimPack, include:

-A three-year extension to the production tax credit for wind and an extension until the end of 2013 for geothermal and biomass renewable-energy projects. In addition, the credit has been increased to 30 percent of the investment.
-$4.5 billion in direct funds to modernize the electricity grid with smart-grid technologies.
-$6.3 billion in state energy-efficiency and clean-energy grants, and $4.5 billion to make federal buildings more energy efficient.
-$6 billion in loan guarantees for renewable energy systems, biofuel projects, and electric-power transmission facilities.
-$2 billion in loans to manufacture advanced batteries and components for applications such as plug-in electric cars.
-$5 billion to weatherize homes of up to 1 million low-income people.
-$3.4 billion appropriated to the Department of Energy for fossil energy research and development, such as carbon capture and storage underground at coal power plants.
-A tax credit of between $2,500 and $5,000 for purchase of plug-in electric vehicles, to the first 200,000 in service.

Time will tell whether this baby can generate the kind of short-term impact our economy needs, but it should spur some longer-term outcomes, especially in the efficiency and renewables space. (Curious why the market didn't react more positively, especially the renewable energy stocks.)

Read this summary analysis of the StimPack from the American Council on Renewable Energy (ACORE): Overview (Note: this is a link to a PDF.)

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An Obama Stimulus, Not A Futurama Stimulus

The stimulus package that passed in the House -- without a single GOP vote -- yesterday is not as forward thinking as it appears, despite what Nancy Pelosi said in a news conference.

"This is a bill about the future," Pelosi said. "It is a bill that will guarantee that we will create jobs, that there will be good paying green jobs that will transform our infrastructure, transform our energy and how we use it and our dependence on foreign oil."

According to the Natural Resources Defense Council's tally, outlined in the daily green, the StimPack accounts for:

* $3.4 billion for states for clean energy projects
* A grants program for technologies covered by the renewable energy tax incentives
* $6.2 billion for weatherization of low income homes
* $3.5 billion for the Energy Efficiency and Conservation Block Grant Program (supports clean energy projects primarily at the city and county levels)
* $2 billion for clean energy research & development
* $6 billion for increasing energy efficiency in federal buildings
* $12 billion for transit
* $2 billion for ready-to-go drinking water infrastructure projects
* $6 billion for ready-to-go sanitation infrastructure projects.

But the Bill doesn't go far enough, according to some critics, in support of public transportation, including light and high speed rail. Others, however, do point out that transit is one of the larger ticket items in the green portion of the package.

The Sierra Club praised the House Bill, noting that clean energy spending is at $100 billion. But "the bill isn't all green," according to other critics, and the Senate is apparently putting $4.6 billion for coal and $50 billion for the nuclear industry.

Of course, that depends upon your shade of green. Among the coal provisions outlined in a news release and a committee statement issued by Sen. Robert C. Byrd, D-W.Va. are:

*$2 billion for "near-zero emissions" power plants designed to capture and sequester CO2
*$1 billion for the Department of Energy's Clean Coal Power Initiative, and
*$1.6 billion for carbon capture at industrial plants.

I'd like to see some investment in such R&D for coal, as it remains the most plentiful resource we've got domestically and comprises such a high percentage of our energy needs today. If we can figure out how to clean it, capture and store it or just reduce its impact, I'm all for it.

And, as for nuclear, I still maintain it needs to be part of the mix.

Another source of criticism of the House Bill may be remedied in the emerging Senate version, which would adjust the alternative minimum tax (ATM), thereby holding down many middle-class Americans' income taxes for 2009.

President Obama's administration has said it would ultimately accept an ATM provision, which may go a long way towards giving the Senate Bill legs. Compromise and consensus may be the key to the Obama presidency.

But with so many other programs stuffed into this StimPack, including many traditional Dem favorites, it's hard to see the future: so much in here looks like the past.

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