The Daily Five: Monday, 4 August, 2008
Tropical Storm Edouard threatens vulnerable petroleum facilities; Florida shuts down a green energy program; and the Zeppelin flies again.
Edouard on path toward Gulf oil centers: Tropical Storm Edouard — which formed over the weekend close to the Alabama Gulf Coast — is expected to track west toward the United States’ core oil and gas producing areas. Forecasters currently expect Edouard to move into an area that produces about 30 percent of the country’s crude oil and about 15 percent of its natural gas. The storm may reach hurricane intensity before a projected landfall in Texas — again, near major refineries. Oil prices opened higher in Asian markets early Monday on storm fears. (Marketwatch)
Florida Green Energy Program Ends Over Spending Controversy: Florida’s Public Service Commission has moved to shut down a voluntary program sponsored by Florida Power & Light and Green Mountain Energy. The utilities assessed a $9.75 monthly surcharge to customers willing to help fund renewable energy development. But the PSC determined that only about 24 percent of the money — paid by nearly 38,000 customers — was actually going toward programs. The rest was being absorbed by administrative and marketing costs. (Environmental Leader)
Chevron drains battery planned for Mercedes ML 450 hybrid, Mercedes sues: This won’t do anything to dispel the image of Big Oil as the nemesis of alternative energy: the eagerly awaited Mercedes ML 450 hybrid may not be built, after all. The reason:Chevron has pulled funding for a critical battery supplier. No funding means no power, and Mercedes has already scrambled the lawyers. The ML 450 was originally scheduled for availability in 2009. (Autoblog Green)
In Germany, a City’s Famed Industry Now Helps Keep It Afloat: Friedrichshafen, Germany, is known as the cradle of Germany’s iconic zeppelin industry. The Hindenburg disaster and World War II put an end to the airships, but high aviation fuel prices have caused the successors to Count von Zeppelin’s original enterprise to build a new, high-tech breed of working airships. And it’s going well: revenues paid to Friedrichshafen pump up to $80 million a year into the city coffers. That’s a huge boon to a town witha population of only 58,000. (New York Times)
GM VP of R&D Suggests Natural Gas Chevy Volt Range Extender: On the tail of unexpectedly large losses last quarter, General Motors’ Vice President of Research and Development is hinting that the company is highly interested in natural gas for automotive use. Larry Burns says that natural gas’ availability and relatively low cost makes it attractive for long-term development. Natural gas would likely find use running range extenders for GM’s upcoming electric car technologies. (GM Volt blog)
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