Category Archives: Keeping Watch on Earth News

Another Climate Denier and the White House (and more from DeSmog)

Repost of the DeSmog Blog Feb 23 newsletter
[Editor: Once again, I highly recommend the DeSmog newsletter.  Excellent coverage of climate news.  See below for most recent email, and sign up at right on their front page.  – R.S.]

Message From the Editor

The Trump administration is having a big week when it comes to entrenching fossil fuel industry interests in federal policy.

Climate science denier and retired Princeton physicist Will Happer — described by an actual climate scientist as “unmoored” — is expected to head a new White House committee to determine the national security risks of climate change. Which, of course, federal defense and intelligence agencies have already concluded.

Meanwhile, federal officials backed away from negotiations with California over fuel efficiency standards, which, as Ben Jervey explains, sets the stage for the Trump administration to revoke the state’s special authority to set stricter clean car rules.

The oil industry and Koch network have been lobbying hard to roll back federal clean car standards, making this development another win for their campaign.

And speaking of fossil fuel industry campaigns, a DeSmog investigation has revealed that not only do the fossil fuel and tobacco industries use the same PR playbook, they donate to dozens of the same so-called “free-market think tanks” that promote these industries’ interests.

Have a story tip or feedback? Get in touch: editor@desmogblog.com.

Thanks,
Brendan DeMelle
Executive Director

Physicist William Happer, the ‘Unmoored’ Climate Science Denier Heading a White House Climate Probe

By Graham Readfearn (4 min. read)

In 2016, retired Princeton physicist Professor Will Happer accepted an invitation from conspiracy theorist G. Edward Griffin to give a keynote at his conference to talk about the “positive effects of CO2.”

Griffin thinks the science behind global warming is a scam. He also thinks there is “no such thing” as the HIV virus and that some plane contrails are part of a political plot to spray the population with poisons.

In an interview at the conference, Happer repeated his well-oiled mantra that “CO2 will be good for the Earth” and how it was “pretty clear we are not going to see dangerous climate change.” Read more.

Trump Admin Hands Win to Kochs, Stops Clean Car Negotiations With California

By Ben Jervey (4 min. read)

The Trump administration just took a big step closer to handing the Koch network one of it biggest wins yet under this presidency. Bloomberg has reported that there will be no deal between the Trump administration and California on fuel efficiency and emissions standards for cars and light vehicles.

This move sets the stage for the U.S. Environmental Protection Agency (EPA) to attempt to revoke California’s special waiver under the Clean Air Act, which allows the state to set its owns standards that are more stringent than federal standards. Read more.

Revealed: How the Tobacco and Fossil Fuel Industries Fund Disinformation Campaigns Around the World

By Mat Hope (11 min. read)

Fossil fuel companies have a long history of adopting public relations strategies straight from the tobacco industry’s playbook. But a new analysis shows the two industries’ relationship goes much deeper — right down to funding the same organisations to do their dirty work.

MIT Associate Professor David Hsu analyzed organisations in DeSmog’s disinformation database and the Guardian’s tobacco database and found 35 thinktanks based in the US, UK, Australia, and New Zealand that promote both the tobacco and fossil fuel industries’ interests. Read more.

The Inevitable Death of Natural Gas as a ‘Bridge Fuel’

By Justin Mikulka (11 min. read)

Los Angeles Mayor Eric Garcetti recently announced the city is scrapping plans for a multi-billion-dollar update to three natural gas power plants, instead choosing to invest in renewable energy and storage.

“This is the beginning of the end of natural gas in Los Angeles,” said Mayor Garcetti. “The climate crisis demands that we move more quickly to end dependence on fossil fuel, and that’s what today is all about.”

Last year America’s carbon emissions rose over 3 percent, despite coal plants closing and being replaced in part by natural gas, the much-touted “bridge fuel” and “cleaner” fossil fuel alternative. Read more.

Entergy Poised to Get Green Light for Gas Plant Despite Role in Paying Actors in Astroturf Campaign

By Julie Dermansky (6 min. read)

Sparks flew at a New Orleans City Council’s utility committee meeting on Valentine’s Day, compelling the committee to delay voting on a resolution that would scrap plans to rescind the permit for Entergy’s proposed $210 million natural gas power plant in exchange for a $5 million fine.

The contentious permit was awarded to Entergy, which provides power to the city, on March 18, 2018, but the city council’s third-party investigation of Entergy found the allegations that the company took part in an astroturf campaign to influence the vote for its proposed New Orleans East gas plant to be true. The investigation concluded that the company was responsible for hiring paid actors, who were wearing t-shirts supporting the plant, to fill council chambers and speak in support of the project. Read more.

As Cleanup Dispute Looms, Peabody-Linked Group Pushes Navajo Nation to Buy West’s Largest Coal Plant

By Sharon Kelly (12 min. read)

In September 2018, two prospective buyers announced they were dropping out of negotiations to purchase the Navajo Generating Station (NGS), the American West’s largest coal-fired power plant.

Avenue Capital Group and Middle River Power had sought to keep the aging coal plant in business, but “said they could not get anyone to commit to buying power from the plant, delaying the start of an environmental review,” the Associated Press reported. The plant, located in northern Arizona near the Utah border, is currently scheduled to shut down in December, after its current owners concluded in 2017 that its power was too costly to be competitive. Read more.

‘It’s About Economics’: Two Coal Plants to Close Despite Trump’s Tweet

By Lorraine Chow, EcoWatch (4 min. read)

Trump is losing his rallying cry to save coal. The Tennessee Valley Authority (TVA) voted on Thursday to retire two coal-fired power plants in the next few years despite a plea from the president to keep one of the plants open.

Earlier this week, the president posted an oddly specific tweet that urged the government-owned utility to save the 49-year-old Paradise 3 plant in Kentucky. It so happens that the facility burns coal supplied by Murray Energy Corporation, whose CEO is Robert Murray, is a major Trump donor. Read more.

What Green New Deal Advocates Can Learn From the 2009 Economic Stimulus Act

By Joseph Aldy, Harvard Kennedy School (6 min. read)

Congressional Democrats have introduced a “Green New Deal” proposal that calls for a 10-year national mobilization to curb climate change by shifting the U.S. economy away from fossil fuels. Many progressives support this idea, while skeptics argue that a decade is not long enough to remake our nation’s energy system.

The closest analog to this effort occurred in 2009, when President Obama and Congress worked together to combat a severe economic recession by passing a massive economic stimulus plan. Among its many provisions, the American Recovery and Reinvestment Act of 2009 provided US$90 billion to promote clean energy. Read more.

From the Climate Disinformation Database: CO2 Coalition

The CO2 Coalition is a 501(c)(3) group formed from the now-defunct climate science-denying George C. Marshall Institute. Its stated purpose is promoting “the important contribution made by carbon dioxide and fossil fuels to our lives and the economy.” It was co-founded by Will Happer (who is poised to lead a White House probe of the national security risks of climate change) and former Exxon manager Roger Cohen. The coalition has received funding from the Koch family foundations and Mercer Family Foundation (the Mercers are conservative mega-donors).

Read the full profile and browse other individuals and organizations in our research database.

Analysis: 2018 was better for Valero than 2017 (if you don’t count Trump’s billion dollar 2017 tax gift)

Repost from Seeking Alpha
[Significant quote: “Valero Energy’s operating income climbed up to $4.7 billion in 2018 from $3.7 billion in 2017. However, due to a $0.9 billion income tax benefit in 2017 versus a $0.9 billion income tax expense in 2018, it appears that the firm’s income generation materially weakened…which isn’t really the case.”  Update: “Valero Keeps Gushing Profits And A 4%+ Dividend Yield.”  For more check out this phone transcript Listening in: Valero on recent earnings, then Q&A with investors.  – R.S.]

Valero Energy Posts A Tremendous 2018

By Callum Turcan, Feb. 3, 2019 8:06 AM ET
Summary

Image result for valeroValero Energy Corporation performed very well in 2018.

Management is committed to rewarding shareholders via buybacks and dividend increases.

Covering the financial and operational performance of Valero Energy’s three main divisions.

Refining giant Valero Energy Corporation (NYSE:VLO) just reported its earnings for the fourth quarter of 2018 that won over some love from Wall Street. Both its earnings and revenue generation beat expectations, which is always a good sign. As of this writing, Valero yields 4.2%, as management boosted the firm’s quarterly payout by 13% in January 2019. This is on top of rewarding investors through $1.7 billion in share buybacks and $1.4 billion in dividend payments last year. Let’s dig in.

Strong refining margins carry the firm higher

Valero Energy’s operating income climbed up to $4.7 billion in 2018 from $3.7 billion in 2017. However, due to a $0.9 billion income tax benefit in 2017 versus a $0.9 billion income tax expense in 2018, it appears that the firm’s income generation materially weakened last year, which isn’t really the case. From 2017 to 2018, Valero Energy’s net income attributable to stockholders fell from $4.1 billion to $3.1 billion. A 4% reduction in its outstanding diluted share count helped offset some of the pain as its EPS dropped from $9.16 to $7.29 on a fully-diluted basis.

When comparing the performance of its refining division on a year-over-year basis, it is clear Valero Energy did quite well in 2018. Its average total throughput volumes for the year climbed by 2% to 2,986,000 bpd, which lifted its product yield by 2% to 3,025,000 bpd.

On top of higher throughput volumes, Valero’s refining margin grew by 10% year-over-year to $10.05 per barrel in 2018. Refining margin means the crack spread Valero received, the difference between its feedstock costs and the price received for its petroleum product production. Strong crack spreads ultimately enabled its refining division’s adjusted operating income per barrel of throughput (the amount of income generated per refined barrel after taking crack spreads and operating expenses into account) to grow by 22% year-over-year to $4.58 per barrel in 2018.

Air monitoring in your neighborhood

Repost from League of Women Voters Bay Area Monitor
[Editor: Our small two-freeway/refinery town recently saw an increase in the number of residences with outdoor PurpleAir monitors – from 3 in December to 8 as of today.  For current air quality data in Benicia and how to buy your own PurpleAir monitor, see progressivedemocratsofbenicia.com.  – R.S.]

All Particulate is Local: New Tech Helps Map Community Air Quality

PurpleAir online mapping of the East Bay at the end of January shows real-time air quality data from sensors around the region. Image captured on 1/26/19 from PurpleAir.com.

“If we can’t see or smell fine particulate matter in our air, it’s hard to be concerned about it, but it can still harm our health,” warned Jim Leach in an online presentation targeted at his neighbors in Lafayette. In his YouTube video posted last August, he urged them to install small monitoring devices outside their homes, schools, and offices to detect worrisome levels of fine particulate matter. Leach is part of a growing movement, sometimes referred to as “citizen science,” in which ordinary individuals use smaller, more affordable devices to monitor and assess their environment.

In his case, Leach relied on a device made by a grassroots group calling themselves PurpleAir, a reference to the “very unhealthy” category on the Environmental Protection Agency’s Air Quality Index scale. He first purchased the device to explore local movement of wildfire smoke, but once he started exploring the data mapped by PurpleAir’s network of devices, he became aware of the many ways in which air quality can vary within a community. Lafayette may be a leafy suburb, but it is bisected by a busy freeway and its quiet neighborhoods lie in valleys that can trap smoke. PurpleAir’s online mapping showed higher levels of pollution in areas near the freeway and in certain neighborhoods, levels that might concern a resident planning to jog or school athletes practicing outdoors.

Leach is participating in the simplest form of hyper-local air quality monitoring. Propelled by leaps in technology and data communication, there is now a plethora of monitoring devices available for a few hundred dollars, rather than tens of thousands, opening up both new ways to assess our environment and new challenges involving what to do with that data.

The California Air Resources Board webpages on community monitoring reveal that many factors must be considered, such as the number of pollutants a device can measure, how it communicates its data, and whether that data is compatible with other monitoring systems. The issue of compatibility is important in order for monitoring data to be compared with or integrated into regulatory programs.

Fern Uennatornwaranggoon, Bay Area Air Quality Policy Manager for the Environmental Defense Fund (EDF), said her organization recognized the need to better capture air pollution at a very localized level, and saw an opportunity presented by the proliferation of new environmental sensors making it possible to collect data at previously unachievable scales. But methodologies to manage and use the new data didn’t exist.

After using different instruments and techniques in a range of projects, EDF is developing and publishing data standards guidelines. “EDF started this program out of necessity,” she explained. “It was a completely new field; no one else was doing it.” They have addressed how to format data (i.e., adding a time stamp), but guidelines on how to calibrate instruments to ensure data reliability and consistency, how to maintain quality assurance and quality control, and how to adjust for changes in weather and over time are still in the pipeline, Uennatornwaranggoon said, adding, “We are catalyzing a space, trying to create infrastructure that can be used by others. Our goal is to make the data findable, accessible, and usable by people, but we’re still a ways off.”

How people will use the data is also still evolving. Like Leach, people can buy a monitor that measures one pollutant, or several at a time. They can use the data to guide their daily activities, or as members of a group that is pressuring regulators for greater pollution controls.

Or they may live in a community like West Oakland or Richmond, where there are a number of sources of pollution, but most residents can’t afford to purchase their own devices. These two communities are improving their monitoring by participating in the Bay Area Air Quality Management District’s Community Health Protection Program, created by 2017’s Assembly Bill 617 (C. Garcia).

It might seem tempting to simply blanket a community with small individual devices and utilize those reporting networks. However, laboratories for the South Coast Air Quality Management District, the largest air quality regulator in the state, report error rates as high as 30 to 50 percent for some sensors. And there’s another problem. Eric Stevenson, meteorology and measurement director at the Bay Area’s Air District, commented, “You can’t just put PurpleAir all over. That may be a starting point, but in order to fully characterize a small area, you’d need hundreds of sensors, which is expensive even though each sensor is relatively inexpensive.”

Where to place them matters, too. EDF’s Uennatornwaranggoon said these efforts face a complex question: “How do you determine the most representative location or area in a community?”

One option is mobile monitoring. Google, EDF, the University of Texas at Austin, and environmental tech company Aclima conducted an innovative one-year air quality streetmapping study in West Oakland ending in May 2016. New compact sensors measuring black carbon and nitrogen oxides were installed in Google Street View cars, which repeatedly drove a set pattern of routes throughout the community. The sensors collected extremely large amounts of data from the constant sampling, which were matched with Google mapping to pinpoint hyper-local variations in air quality within the community. By comparing results to existing Air District monitors in the same area, as well as to other information on pollution sources, researchers confirmed that the sensors were showing places, and points in time, when pollution was highest in certain locations.

Melissa Lunden, chief scientist at the San Francisco-based Aclima, is excited about the potential of using streetmapping for neighborhood monitoring. “It’s a way for a community to make sure that there are answers for the questions that are being asked, without needing to hire their own computing experts,” she observed, explaining that the vast amounts of data acquired by the sensors requires “meta data centers” to process the information. “It allows a community member to take the information and create their own story that they can then use for action.” In West Oakland, streetmapping verified a local pollution source, a metal recycler. “Community members are talking about moving the facility so that it’s not in a residential neighborhood, to where it can expand and use new control technology,” Lunden reported.

Aclima will continue to work with West Oakland representatives on their monitoring plan and is open to participating in Richmond. “We are talking about how to design a sampling program to give reliable standard results, and we would suggest options to the community,” Lunden said. “Our program is easily deployed to map an area of any size. It’s flexible and mutable.”

Stevenson noted that unlike West Oakland, Richmond is just getting started. Following an Air Quality summit scheduled for February 16, which will educate the community about the issues, a steering committee will guide the design of a monitoring plan. “The Air District will start with asking ‘What are your biggest concerns? Here’s what we can do to monitor for those concerns’,” said Stevenson. “We have a general idea of the air quality based on our current network,” he explained. “We need to devise a screening method with enough accuracy to ID sources.”

Stevenson emphasized that the focus is on the community rather than the source. “The message is that we want to monitor in your neighborhood, but we want to do it in an efficient and effective way,” he said, adding that “once you have sound data that people can agree on, people respond to it.”

Stevenson said he considers a mobile platform like Aclima’s to be the best solution for screening for local sources of pollution, but he noted that there is still a role for the “citizen scientist,” particularly for specific events like wildfire smoke. While Aclima’s mapping cars tracked the invasion of smoke from November’s fire in Paradise into the region, Lunden reported only a couple of cars on limited routes provided early data, and once smoke was more dispersed, results were not as clear. “PurpleAir monitors are great for seeing changes in air quality moving through the Bay Area. By comparing various locations against each other at a given point in time, they can help with forecasting and tracking movement [of pollutants] through the area,” Stevenson concluded.

Leslie Stewart covers air quality and energy for the Monitor.

Listening in: Valero on recent earnings, then Q&A with investors

Repost from The Motley Fool
[Valero’s profits continue at massive levels, although not as high as in 2017 when the Republicans gave corporations unheard-of tax windfalls.  I have  highlighted  the only reference to west coast production.  Of special interest: search this long transcript for the 9 references to “exports” and the 18 references to “rail.”  – R.S.]

Valero Energy Corp (VLO) Q4 2018 Earnings Conference Call Transcript

VLO earnings call for the period ending December 28, 2018.
By Motley Fool Transcribers, Jan 31, 2019 at 4:36PM
Logo of jester cap with thought bubble.
IMAGE SOURCE: THE MOTLEY FOOL.

Valero Energy Corp  (NYSE:VLO)
Q4 2018 Earnings Conference Call
Jan. 31, 2019, 10:00 a.m. ET

Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator

Good day, ladies and gentlemen, and welcome to the Valero Energy Corporation’s Fourth Quarter 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, there will be a question-and-answer session, and instructions will follow at that time. (Operator Instructions) As a reminder, this conference call is being recorded.

I would now like to turn the conference over to Homer Bhullar, Vice President of Investor Relations. Sir, you may begin.

Homer Bhullar — Vice President, Investor Relations

Good morning, and welcome to Valero Energy Corporation’s fourth quarter 2018 earnings conference call. With me today are Joe Gorder, our Chairman, President and Chief Executive Officer; Donna Titzman, our Executive Vice President and CFO; Lane Riggs, our Executive Vice President and COO; Jason Fraser, our Executive Vice President and General Counsel and several other members of Valero Senior Management team.

If you have not received the earnings release and would like a copy, you can find one on our website at valero.com. Also attached to the earnings release are tables that provide additional financial information on our business segments. If you have any questions after reviewing these tables, please feel free to contact our Investor Relations team after the call.

I would like to direct your attention to the forward-looking statement disclaimer contained in the press release. In summary, it says that statements in the press release and on this conference call that state the company’s or management’s expectations or predictions of the future are forward-looking statements intended to be covered by the Safe Harbor provisions under federal securities laws. There are many factors that could cause actual results to differ from our expectations, including those we’ve described in our filings with the SEC.

Now I’ll turn the call over to Joe for opening remarks.

Joseph W. Gorder — Chairman, President and Chief Executive Officer

Thanks, Homer, and good morning, everyone. We are pleased to report that we completed another good quarter where we ran our business well and delivered solid financial results. Throughout the quarter, we maintained our unrelenting focus on operations excellence, which enabled us to operate safely and reliably in an environmentally responsible manner.

We also delivered on our commitment to invest in growth projects and acquisitions that increase Valero’s earnings capability, while maintaining solid returns to our stockholders. In 2018, we matched our 2017 record for process safety performance, and we continued to outperform the industry on our personnel injury rates.

For logistics investments we made over the last several years are contributing significantly to earnings. Our investments in Line 9B, the Diamond Pipeline and the Sunrise Pipeline expansion increased our systems flexibility, allowing us to take advantage of the opportunities available in the fourth quarter of 2018. In fact, we set a record for total light crude runs at 1.5 million barrels per day and a record for North American light crudes process at over 1.3 million barrels per day.

We also continued to maximize product exports into higher netback markets in Latin America. Turning to capital allocation, we continued to execute according to our disciplined framework. Our projects in execution remain on track. Construction is scheduled to finish on the Houston alkylation unit in the second quarter and the Central Texas pipelines and terminals are expected to be completed in mid 2019. Continue reading Listening in: Valero on recent earnings, then Q&A with investors

For safe and healthy communities…