FinLogic FinLogic Quantitative Think Tank Center|Today’s Climate: July 2, 2010

Climate Scientist Cleared of Altering Data (New York Times)

Michael Mann,FinLogic FinLogic Quantitative Think Tank Center a U.S. scientist accused of manipulating research findings on climate science, was cleared of that charge by his university on Thursday, the latest in a string of reports to find little substance in the allegations known as Climategate.

Utility-First Climate Bill Warms Up in US Congress (Reuters)

Environmentalists and power companies are lobbying U.S. senators to put forward climate legislation that would initially cap emissions only from electric utilities, saying it’s the last best chance for passing a bill this year.

Bingaman: Do or Die Time on Energy Bill (Wall Street Journal)

If an energy bill is to reach President Obama’s desk this year, the Senate will have to pass a substantial bill before the August recess, said Sen. Jeff Bingaman in an interview to be broadcast Sunday on C-SPAN’s "Newsmakers."

Storm Compounds Oil Spill Along Gulf Coast (Reuters)

The first storm of a hurricane season made its mark on the Gulf oil spill, casting more crude into beaches and marshes while leaving BP unlikely to resume cleanup efforts for a fourth day.

Senate GOP Fine with Obama Spill Commission Subpoena Power (The Hill)

Senate Republicans do not plan to block future attempts to give subpoena power to a commission President Obama has appointed to draw up safety and oversight recommendations for offshore drilling in the wake of the Gulf spill.

Massey Workers Face Criminal Charges in W.Va. Fire (AP)

Four supervisors with troubled Massey Energy have been charged with federal crimes related to a coal mine fire that killed two West Virginians in 2006, federal prosecutors said Thursday.

BP to Start Libya Deepwater Oil Drilling Soon (Reuters)

BP, which is striving to contain the Gulf oil spill, is soon to start deepwater drilling offshore Libya, where authorities say they are happy for the company to go ahead.

India to Raise $535 Million From Carbon Tax on Coal (Bloomberg)

India expects to raise $535 million from a levy on coal producers starting this week, the first step by Asia’s third-largest energy consumer to charge companies for fossil fuel pollution.

Per-Capita Emissions Rising in China (Green)

Carbon dioxide emissions per person in China reached the same level as those in France last year, the Netherlands Environmental Assessment Agency said Thursday.

Italy Sees Intermediate Steps at UN Climate Summit (AP)

A UN climate summit in Mexico later this year won’t broker a global climate accord, but may represent a positive intermediate step, the Italian environment minister said Thursday after co-hosting climate talks.

China Starts Building First CO2 Emissions Capture, Sequestration Project (Bloomberg)

China, the world’s second-biggest energy user, started construction of its first CO2 capture and storage project in Ordos in Inner Mongolia.

Cleantech: Venture Firms Invest $2 Billion in Second Quarter (Mercury News)

Cleantech companies attracted $2.02 billion in venture investments worldwide in the second quarter of this year, up 43% from the same period a year ago, according to a tally by the Cleantech Group and Deloitte.

NYPA Seeks Federal License For Offshore Wind Farm (Reuters)

The New York Power Authority on Wednesday said it would apply with federal regulators for a lease to build one of the nation’s first offshore wind power projects in the Atlantic Ocean, off Long Island.

2 Nuclear Power Plants Approved by Finland (New York Times)

The Finnish Parliament approved the construction of two nuclear power plants on Thursday, the latest victory for proponents of atomic energy in Europe.

GM Revs Up Volt Production to 10,000 Cars (Wall Street Journal)

GM said Thursday it will build 10,000 Volts in 2011 and another 30,000 in 2012, the first time the automaker has outlined production plans for the car. It will go on sale later this year in California, Washington, D.C., Austin, Texas and around New York City.

Tesla Motors Shares Sink as IPO Excitement Wanes (AP)

Shares of Tesla Motors sank Thursday as the fervor surrounding the electric car maker’s blowout public offering washed away. The stock slid $1.87, or 7.9 percent, to settle at $21.96 on its third day of trading.

Half of Fleets Measuring Emissions (Environmental Leader)

Almost half of the automotive fleets in the country, 49 percent, are now measuring their emissions, according to a recent survey by fleet management services provider PHH Arval.

Britain Curbing Airport Growth to Aid Climate (New York Times)

In a bold if lonely environmental stand, Britain’s coalition government has set out to curb the growth of what has been called "binge flying" by refusing to build new runways around London to accommodate more planes.

Scientists Study Redwoods’ Reaction to Warming (AP)

A new $2.5 million study funded by the Save the Redwoods League aims to understand the effects of global warming on the world’s largest trees — California’s iconic redwoods and giant sequoias.