Cap & Trade

Cap and trade is an environmental policy tool that delivers results with a mandatory cap on emissions while providing sources flexibility in how they comply. Successful cap and trade programs reward innovation, efficiency, and early action and provide strict environmental accountability without inhibiting economic growth.

Examples of successful cap and trade programs include the nationwide Acid Rain Program and the regional NOx Budget Trading Program in the Northeast. Additionally, EPA issued the Clean Air Interstate Rule (CAIR) on March 10, 2005, to build on the success of these programs and achieve significant additional emission reductions.

For more: http://www.epa.gov/capandtrade/

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California’s landmark global warming law becomes real this week with first cap-and-trade auctions

11/10/2012 By Paul Rogers – mercurynews

For more than 40 years, California has led the nation in environmental regulation, from passing the toughest coastal protection laws to America’s first rules banning leaded gasoline.

Now, this week — after Hurricane Sandy pushed the issue of climate change back into the national spotlight — California will become the first state to begin requiring a broad range of businesses to reduce their greenhouse gas pollution.

At 10 a.m. Wednesday, the California Air Resources Board is scheduled to hold its first auction to sell pollution allowances under the state’s landmark cap-and-trade law.

The idea is simple: The state sets an overall “cap” for California’s greenhouse gas emissions, and companies must buy or sell credits to account for how much they pollute. Those that pollute more must clean up or pay more.

“For the first time, business will begin to understand what it means to put a price on carbon,” said Stanley Young, a spokesman for the California Air Resources Board. “The program rewards efficiency. It will help move California away from its dependence on fossil fuels and toward a clean-energy economy.”

The event comes six years after former Gov. Arnold Schwarzenegger signed AB32, the law that required California to lower its greenhouse gas emissions by 2020 to 1990 levels — the equivalent of a 17 percent reduction.

“It’s the largest carbon market in the United States, and the second largest in the world, behind the European Union,” Young said.

For more: http://www.mercurynews.com/science/ci_21972739/californias-landmark-global-warming-law-becomes-real-this

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31 Responses to Cap & Trade

  1. CR says:

    WH

    Monday, November 12 , 2012

    All Times Eastern

    President Obama receives the presidential daily briefing

    7:00 AM
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  2. CR says:

    Cap & Trade

    Cap and trade is an environmental policy tool that delivers results with a mandatory cap on emissions while providing sources flexibility in how they comply. Successful cap and trade programs reward innovation, efficiency, and early action and provide strict environmental accountability without inhibiting economic growth.

    Examples of successful cap and trade programs include the nationwideAcid Rain Program and the regional NOx Budget Trading Program in the Northeast. Additionally, EPA issued the Clean Air Interstate Rule (CAIR) on March 10, 2005, to build on the success of these programs and achieve significant additional emission reductions.

    • CR says:

      California’s landmark global warming law becomes real this week with first cap-and-trade auctions

      11/10/2012 By Paul Rogers – mercurynews

      For more than 40 years, California has led the nation in environmental regulation, from passing the toughest coastal protection laws to America’s first rules banning leaded gasoline.

      Now, this week — after Hurricane Sandy pushed the issue of climate change back into the national spotlight — California will become the first state to begin requiring a broad range of businesses to reduce their greenhouse gas pollution.

      At 10 a.m. Wednesday, the California Air Resources Board is scheduled to hold its first auction to sell pollution allowances under the state’s landmark cap-and-trade law.

      The idea is simple: The state sets an overall “cap” for California’s greenhouse gas emissions, and companies must buy or sell credits to account for how much they pollute. Those that pollute more must clean up or pay more.

      “For the first time, business will begin to understand what it means to put a price on carbon,” said Stanley Young, a spokesman for the California Air Resources Board. “The program rewards efficiency. It will help move California away from its dependence on fossil fuels and toward a clean-energy economy.”

      The event comes six years after former Gov. Arnold Schwarzenegger signed AB32, the law that required California to lower its greenhouse gas emissions by 2020 to 1990 levels — the equivalent of a 17 percent reduction.

      “It’s the largest carbon market in the United States, and the second largest in the world, behind the European Union,” Young said.

      For more: http://www.mercurynews.com/science/ci_21972739/californias-landmark-global-warming-law-becomes-real-this

      • CR says:

        Global Warming Cause Felt by Satellites and Space Junk

        Nov 11, 2012 Charles Q. Choi | SPACE.com

        Rising carbon dioxide levels at the edge of space are apparently reducing the pull that Earth’s atmosphere has on satellites and space junk, researchers say.

        The findings suggest that manmade increases in carbon dioxide might be having effects on the Earth that are larger than expected, scientists added.

        In the layers of atmosphere closest to Earth, carbon dioxide is a greenhouse gas, trapping heat from the sun. Rising levels of carbon dioxide due to human activity are leading to global warming of Earth’s surface.

        However, in the highest reaches of the atmosphere, carbon dioxide can actually have a cooling effect. The main effects of carbon dioxide up there come from its collisions with oxygen atoms. These impacts excite carbon dioxide molecules, making them radiate heat. The density of carbon dioxide is too thin above altitudes of about 30 miles (50 kilometers) for the molecules to recapture this heat, which means it mostly escapes to space, chilling the outermost atmosphere.

        Cooling the upper atmosphere causes it to contract, exerting less drag on satellites. Atmospheric drag can have catastrophic effects on items in space — for instance, greater-than-expected solar activity heated the outer atmosphere, increasing drag on Skylab, the first U.S. space station, causing it to crash back to Earth.

        For more: http://news.yahoo.com/global-warming-cause-felt-satellites-space-junk-193025434.html;_ylt=A2KJjbyMa6JQQU8A4YvQtDMD

    • CR says:

      Did Climate Change Cause Hurricane Sandy?

      October 30, 2012 By Mark Fischetti – scientificamerican

      If you’ve followed the U.S. news and weather in the past 24 hours you have no doubt run across a journalist or blogger explaining why it’s difficult to say that climate change could be causing big storms like Sandy. Well, no doubt here: it is.

      The hedge expressed by journalists is that many variables go into creating a big storm, so the size of Hurricane Sandy, or any specific storm, cannot be attributed to climate change. That’s true, and it’s based on good science. However, that statement does not mean that we cannot say that climate change is making storms bigger. It is doing just that—a statement also based on good science, and one that the insurance industry is embracing, by the way. (Huh? More on that in a moment.)

      Scientists have long taken a similarly cautious stance, but more are starting to drop the caveat and link climate change directly to intense storms and other extreme weather events, such as the warm 2012 winter in the eastern U.S. and the frigid one in Europe at the same time. They are emboldened because researchers have gotten very good in the past decade at determining what affects the variables that create big storms. Hurricane Sandy got large because it wandered north along the U.S. coast, where ocean water is still warm this time of year, pumping energy into the swirling system. But it got even larger when a cold Jet Stream made a sharp dip southward from Canada down into the eastern U.S. The cold air, positioned against warm Atlantic air, added energy to the atmosphere and therefore to Sandy, just as it moved into that region, expanding the storm even further.

      Here’s where climate change comes in. The atmospheric pattern that sent the Jet Stream south is colloquially known as a “blocking high”—a big pressure center stuck over the very northern Atlantic Ocean and southern Arctic Ocean. And what led to that? A climate phenomenon called the North Atlantic Oscillation (NAO)—essentially, the state of atmospheric pressure in that region. This state can be positive or negative, and it had changed from positive to negative two weeks before Sandy arrived. The climate kicker? Recent research by Charles Greene at Cornell University and other climate scientists has shown that as more Arctic sea ice melts in the summer—because of global warming—the NAO is more likely to be negative during the autumn and winter. A negative NAO makes the Jet Stream more likely to move in a big, wavy pattern across the U.S., Canada and the Atlantic, causing the kind of big southward dip that occurred during Sandy.

      Climate change amps up other basic factors that contribute to big storms. For example, the oceans have warmed, providing more energy for storms. And the Earth’s atmosphere has warmed, so it retains more moisture, which is drawn into storms and is then dumped on us.

      For more: http://blogs.scientificamerican.com/observations/2012/10/30/did-climate-change-cause-hurricane-sandy/

    • CR says:

      President Obama stance on Environment & Energy

      Of all the challenges we face as a nation and as a planet, few are as pressing as the three-pronged challenge of climate change, sustainable development and the need to foster new and cleaner sources of energy. The Obama administration and the Office of Science and Technology Policy are committed to addressing this looming issue aggressively, intelligently and in a way that will not only minimize the negative impacts of past policy failings but also strengthen our economy and enhance our national security.

      That is why we have set a goal of reducing our greenhouse gas emissions 80 percent below 1990 levels by 2050. It takes harnessing the best science and technology and ensuring evidence-based policy decisions. To get there, OSTP and the Obama Administration will:

      * Implement a market-based cap-and-trade system

      * Establish a national low carbon fuel standard

      * Double fuel economy standards within 18 years and get 1 million plug-in hybrid cars on the road by 2015.

      * Set an example—and help support new markets—by demanding that the federal government use renewable sources of electricity and by making federal buildings “zero-emission” by 2025.

      * Develop domestic incentives that reward forest owners, farmers, and ranchers when they plant trees, restore grasslands, or undertake farming practices that capture carbon dioxide from the atmosphere

      But climate change and environmental degradation requires a global perspective and international action. So at the same time we will reduce our dependence on foreign energy sources, eliminating imports from the Middle East and Venezuela within ten years; re-engage with the UN Framework Convention on Climate Change; and create a Global Energy Forum based on the G8+5, which includes all G-8 members plus Brazil, China, India, Mexico and South Africa, to focus exclusively on global energy and environmental issues.

      For more: http://www.whitehouse.gov/administration/eop/ostp/divisions/energyenvironment

    • CR says:

      13 things to know about California’s cap-and-trade program

      11/30/2012 07:04:23 AM PST By Dana Hull – mercurynews.com

      State regulators are celebrating California’s first-ever auction of greenhouse gas emissions allowances held Nov. 14. So what exactly happened? Why does it matter? And what happens next? We’ve gotten many questions about the cap-and-trade program from our readers at the San Jose Mercury News; here’s answers to several of them.

      Q: What is AB 32 and what is CARB?

      Q: Where do California’s carbon emissions come from?

      Q: What is the “cap” and who is regulated?

      Q: What is an allowance?

      Q: Why is CARB selling allowances in an auction?

      Q: What exactly happened during California’s first cap-and-trade auction, held Nov. 14?

      Q: Where does the auction money go?

      Q: Isn’t $10.09 for a ton of carbon a low price? Does a low price mean the program is not working?

      Q: When is the next auction? How many allowances will be available then?

      Q: Are companies required to participate in the auction? Who participated?

      Q: I’m worried that this whole thing is a scam — how can we be sure this won’t turn into another Enron boondoggle?

      Q: I keep hearing about a possible carbon tax at the national level. What’s the difference between a carbon tax and a cap-and-trade program?

      Q: Isn’t the California Chamber of Commerce opposed to the cap-and-trade program?

      For more: http://www.mercurynews.com/business/ci_22092533/13-things-know-about-california-cap-trade-program

    • CR says:

      U.S. Supreme Court cuts back climate change regulation

      6/23/1 By Lawrence Hurley – Reuters

      WASHINGTON (Reuters) – The U.S. Supreme Court on Monday trimmed the Obama administration’s power to curb greenhouse gases under a long-running air pollution program in a decision that means most major facilities, including power plants and refineries, will continue to be regulated.

      On a 7-2 vote, the court rejected an industry-backed argument that most emitting facilities should not be regulated for greenhouse gases under one particular air pollution program of the U.S. Environmental Protection Agency (EPA).

      But industry could claim a partial win because the court ruled on a 5-4 vote that some facilities the government had wanted to regulate will be exempted.

      “It bears mention that EPA is getting almost everything it wanted in this case,” Justice Antonin Scalia, who wrote the majority opinion, said in a statement he read in court.

      For more: http://news.yahoo.com/u-top-court-cuts-back-climate-change-regulation-142018596–sector.html

  3. Kat 4 Obama says:

    Good subject, CR.

  4. CR says:

    November 10, 2012

    Weekly Address: Extending Middle Class Tax Cuts to Grow the Economy

    Hello, everybody.

    On Tuesday, America went to the polls. And the message you sent was clear: you voted for action, not politics as usual. You elected us to focus on your jobs, not ours.

    That’s why I’ve invited leaders of both parties to the White House next week, so we can start to build consensus around challenges we can only solve together. I also intend to bring in business, labor and civic leaders from outside Washington to get their ideas and input as well.

    At a time when our economy is still recovering from the Great Recession, our top priority has to be jobs and growth. That’s the focus of the plan I talked about during the campaign. It’s a plan to reward businesses that create jobs here in America, and give people access to the education and training that those businesses are looking for. It’s a plan to rebuild our infrastructure and keep us on the cutting edge of innovation and clean energy. And it’s a plan to reduce our deficit in a balanced and responsible way.

    This is even more important because at the end of this year, we face a series of deadlines that require us to make major decisions about how to pay down our deficit – decisions that will have a huge impact on the economy and the middle class, now and in the future.

    Last year, I worked with Democrats and Republicans to cut a trillion dollars’ worth of spending, and I intend to work with both parties to do more. But as I said over and over again on the campaign trail, we can’t just cut our way to prosperity. If we’re serious about reducing the deficit, we have to combine spending cuts with revenue – and that means asking the wealthiest Americans to pay a little more in taxes. That’s how we did it when Bill Clinton was President. And that’s the only way we can afford to invest in education and job training and manufacturing – all the ingredients of a strong middle class and a strong economy.

    Already, I’ve put forward a detailed plan that allows us to make these investments while reducing our deficit by $4 trillion over the next decade. Now, I’m open to compromise and new ideas. But I refuse to accept any approach that isn’t balanced. I will not ask students or seniors or middle-class families to pay down the entire deficit while people making over $250,000 aren’t asked to pay a dime more in taxes. This was a central question in the election. And on Tuesday, we found out that the majority of Americans agree with my approach – that includes Democrats, Independents, and Republicans.

    Now we need a majority in Congress to listen – and they should start by making sure taxes don’t go up on the 98% of Americans making under $250,000 a year starting January 1. This is something we all agree on. Even as we negotiate a broader deficit reduction package, Congress should extend middle-class tax cuts right now. It’s a step that would give millions of families and 97% of small businesses the peace of mind that will lead to new jobs and faster growth. There’s no reason to wait.

    We know there will be differences and disagreements in the months to come. That’s part of what makes our political system work. But on Tuesday, you said loud and clear that you won’t tolerate dysfunction, or politicians who see compromise as a dirty word. Not when so many of your families are still struggling.

    Instead, you want cooperation. You want action. That’s what I plan to deliver in my second term, and I expect to find leaders from both parties willing to join me.

    Thanks, and have a great weekend.

    • CR says:

      Obama to meet labor, business leaders for fiscal talks

      11/12/12 By Mark Felsenthal | Reuters – 7 hrs ago

      WASHINGTON (Reuters) – President Barack Obama will meet business, labor and civic leaders this week ahead of negotiations with top lawmakers to avert sharp tax hikes and deep spending cuts that loom at the end of the year, a White House official said late on Sunday.

      The president wants to find “a balanced solution to our deficit challenges” and a way to move the economy forward, the official said.

      Obama, re-elected to a second four-year term on Tuesday, faces the immediate challenge of preventing the so-called “fiscal cliff,” a combination of government spending cuts and tax increases due to be implemented in early 2013 that may cut the federal budget deficit, but also tip the economy back into recession.

      Obama has scheduled a meeting with Democratic and Republican leaders of the House of Representatives and the Senate on Friday to begin negotiations.

      The president will meet with leaders from the labor community and other leaders of the progressive political movement on Tuesday, the official said. Obama will meet with business leaders on Wednesday and civic leaders on Friday, the White House official said.

      The president and congressional Republicans have sounded conciliatory notes since the election on reaching a deal to avoid the sudden fiscal shock. The two sides are at odds over raising taxes for top earners.

      Obama insisted in his re-election campaign that the wealthy should pay more as part of any fiscal deal, and has said his victory at the polls is an endorsement of that view.

      Still, on Sunday, two Republican Senators made comments that could be seen as suggesting they may be willing to negotiate. Tennessee Senator Bob Corker said he had some sympathy for the view that there need to be more government revenues as part of any deficit reduction deal.

      “There has to be revenues,” he said on Fox News Sunday. “Look, I haven’t met a wealthy Republican or Democrat in Tennessee that’s not willing to contribute more as long as they know we solve the problem,” Corker said.

      Separately, Oklahoma Senator Tom Coburn said there were ways to eliminate tax loopholes for top earners that could provide additional funds for government coffers.

  5. CR says:

    U.S. Oil Output to Overtake Saudi Arabia’s by 2020

    Nov 12, 2012 6:47 AM PT By Lananh Nguyen – bloomberg

    U.S. oil output is poised to surpass Saudi Arabia’s in the next decade, making the world’s biggest fuel consumer almost self-reliant and putting it on track to become a net exporter, the International Energy Agency said.

    Growing supplies of crude extracted through new technology including hydraulic fracturing of underground rock formations will transform the U.S. into the largest producer for about five years starting about 2020, the Paris-based adviser to 28 nations said today in its annual World Energy Outlook. The U.S. met 83 percent of its energy needs in the first six months of this year, according to the Energy Department in Washington.

    “The IEA outlook feeds into the idea of a shift in the center of influence in the world oil market,” said Gareth Lewis-Davies, an analyst at BNP Paribas SA in London. “Given Saudi Arabia is willing to shift production up and down it will retain a large degree of influence, and remain important as a price-influencer.”

    The U.S., where crude imports have fallen 11 percent this year, is on track to produce the most oil since 1991, according to Energy Department data. In a year when Iran has threatened to halt Persian Gulf oil shipments, the growing output, coupled with a gas-production boom, may help insulate the nation from supply disruptions. President Barack Obama cited “freeing ourselves from foreign oil” as a goal for policy makers in his election victory speech last week, echoing his predecessor, George W. Bush, who in 2006 called for the U.S. to break its “addiction” to imported crude.

    For more: http://www.bloomberg.com/news/2012-11-12/u-s-to-overtake-saudi-arabia-s-oil-production-by-2020-iea-says.html

  6. CR says:

    Americans Say Europe Lesson Means Act Now as Austerity Will Fail

    Nov 11, 2012 4:26 PM PT By Rich Miller and Simon Kennedy – bloomberg

    When the housing bubble burst in 2006, U.S. policy makers looked to Japan for clues about what to do — and not do — in response. Now their attention is shifting to Europe as America gets set to follow that region with a concerted attack on its budget deficit.

    Among the lessons being drawn: Don’t put off budget action until the financial markets demand it. Big, immediate cuts aren’t always the best way to reduce deficits. And central bankers should be ready to try to offset the economic impact of any fiscal contraction.
    “The lesson of Europe is, don’t wait until you’re in a crisis to act. Do it now,” said Alice Rivlin, the founding director of the Congressional Budget Office in Washington. “The other lesson is that austerity is not a good prescription for weak economies.”

    The stock market would benefit if the U.S. avoids the year- end so-called fiscal cliff and reaches a deal to put the deficit on a downward path, said Jack Ablin, who helps oversee about $65 billion of assets as chief investment officer at BMO Private Bank in Chicago.

    “A credible plan would build confidence among investors,” he said.

    David Cote, chairman and chief executive officer of Morris Township, New Jersey-based Honeywell International Inc. (HON), agreed. Should lawmakers be able to sketch out an agreement by the start of 2013 to cut the deficit by $4 trillion over 10 years, then “you end up with markets looking at that and going, ‘Oh my God, these guys can govern,’ ” he said in an Oct. 25 interview with Bloomberg Television.

    For more: http://www.bloomberg.com/news/2012-11-12/americans-say-europe-lesson-means-act-now-as-austerity-will-fail.html

    • CR says:

      Austerity pushes Europe back into recession

      Nov 15, 2012 12:35 PM EST By Steve Benen – maddowblog

      It’s starting to look as if austerity undermines economic growth and leads to recessions.

      The European economy shrank for a second quarter in a row, according to official data released Thursday, fulfilling a common definition of recession and signaling that the region still faces a long road to recovery.

      Gross domestic product in the euro zone fell 0.1 percent in the three months through September compared to the previous quarter, according to Eurostat, the European Union statistics agency. The euro zone economy improved slightly from the second quarter, when it contracted by 0.2 percent. But it was the fourth quarter in a row of zero growth or worse.

      The AP’s report added that continental fears are growing that “at a time of high unemployment in many countries, there are fears that the recession will deepen, and make the debt crisis even more difficult to handle.”

      Domestically, the right looks at these developments and says, “See? Europe has debt crises, which is keeping Eurozone in a recession, and if we want to avoid the same fate, we need to reduce our own debt.”

      But the repetition of this conservative message doesn’t make it less misguided. The United States doesn’t have a debt crisis — we have low inflation, low interest rates, and investors around the globe desperate to loan us money. Indeed, if there’s a lesson to be learned about the Eurozone recession it’s that austerity is exactly the wrong course of action given the current circumstances.

      For more: http://maddowblog.msnbc.com/_news/2012/11/15/15192676-austerity-pushes-europe-back-into-recession

  7. CR says:

    Good Monday morning everyone. I HOPE that you have a good day.

  8. CR says:

    Please join me in lighting a candle for our President, First Family and the Nation.

    http://www.gratefulness.org/candles/candles.cfm?l=eng&gi=PBO

  9. CR says:

    WH

    Tuesday, November 13 , 2012

    All Times Eastern

    7:00 AM
    8:00 AM
    9:00 AM
    10:00 AM
    10:45 AM
    President Obama and Vice President Biden receive the presidential daily briefing

    11:00 AM
    11:30 AM
    President Obama and Vice President Biden attend a meeting with leaders from the labor community on growing our economy and reducing our deficit

    12:00 PM
    12:30 AM
    White House Press Secretary Jay Carney briefs the press.

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  10. CR says:

    U.S. wins re-election to U.N. Human Rights Council

    11/12/12 By Louis Charbonneau | Reuters – 5 hrs ago

    UNITED NATIONS (Reuters) – The United States succeeded on Monday in its bid for re-election to the 47-nation U.N. Human Rights Council, a Geneva-based watchdog that has been criticized by Washington and Israel for singling out the Jewish state for criticism.

    The 193-nation U.N. General Assembly also elected 17 other countries for terms beginning in January. The United States won the most votes of the regional group “Western Europe and Others,” followed by Germany and Ireland.

    U.S. Ambassador to the United Nations Susan Rice welcomed Washington’s re-election, saying that the Human Rights Council “has delivered real results” since the United States first joined it in 2010 after running for a seat on it in 2009. She cited council action on Syria as a positive example of its work.

    However, she criticized the rights council’s “excessive and unbalanced focus on Israel.”

    Secretary of State Hillary Clinton echoed Rice’s comments.

    “We pledge to continue to work closely with the international community to address urgent and serious human rights concerns worldwide and to strengthen the (rights) council,” Clinton said in a statement.

    The United States had boycotted the Human Rights Council until 2009, when the administration of President Barack Obama reversed U.S. policy and ran for a seat on the body in an effort to reform it from within.

  11. CR says:

    Obama to discuss ‘fiscal cliff’ with labor leaders

    11/12/12 By KEN THOMAS | Associated Press

    WASHINGTON (AP) — President Barack Obama opens a new campaign Tuesday to build pressure on Congress to cut the federal debt the way he sees fit, meeting with labor leaders who want lawmakers to raise taxes on the wealthy and guard against slashing health benefits for seniors.

    Obama was kicking off a series of meetings this week with labor officials, business executives and congressional leaders aimed at pushing Congress to avert the so-called “fiscal cliff” and find consensus on a plan to prevent more financial hardships next year. The week will include a tone-setting news conference Wednesday that will give the president the chance to frame his outlook on the year-ending lame duck session.

    The president views his re-election as an affirmation of his belief that raising taxes on families earning more than $250,000 a year is what voters want. Republican House Speaker John Boehner has expressed a willingness to raise revenues but remains opposed to boosting tax rates, pointing instead to closing tax loopholes, lowering rates and fixing entitlement programs.

    Both sides have voiced the potential for cooperation, but face a post-election confrontation over a series of expiring tax cuts approved during the George W. Bush presidency and tough, across-the-board spending cuts set to take place because lawmakers failed to reach a deal to reduce the federal debt.

    Economists have warned the combination of the expiring tax cuts and reduced spending could hinder the economic recovery.

    The president hopes labor and progressive groups will marshal support for what he has called a “balanced” plan to reduce the debt while protecting spending priorities. Separately, a meeting Wednesday with business executives, many of whom supported Republican rival Mitt Romney, aims to enlist their help in persuading Republicans to support higher taxes on the wealthy.

    Obama’s meeting with labor leaders includes AFL-CIO President Richard Trumka; Mary Kay Henry, president of the Service Employees International Union; Lee Saunders of the American Federation of State, County and Municipal Employees; and Dennis Van Roekel, president of the National Education Association.

    For more: http://news.yahoo.com/obama-discuss-fiscal-cliff-labor-leaders-081015490–finance.html

  12. CR says:

    It’s Still Election Day: 7 House Races Remain Outstanding

    NOVEMBER 12, 2012, 4:14 PM 21428 KYLE LEIGHTON – tpm

    Election Day has come and gone, ballots have been cast, winners and losers have been declared. Right?

    Wrong. There are still a handful of congressional races still yet to be decided, due to a variety of reasons — ongoing counting in some districts, Louisiana’s run-off system, and candidates who refuse to concede even though all the votes are in.

    Here’s a look at the races still being fought for the People’s House in Congress, even though it was determined last Tuesday night that Republicans would remain in control of the lower chamber.

    Arizona 2nd:

    Rep. Ron Barber (D-AZ) has retaken the lead by a mere 330 votes in this seesawing contest to serve a full term in the Tucson-based seat formerly held by Congresswoman Gabby Giffords. Barber held the lead through most of election night, only to see it flip for a time to Republican challenger Martha McSally, a retired US Air Force colonel, as more and more voters were counted.

    The district is mostly Pima County, falling along a large section of the US-Mexico border. As of Monday morning, county officials said they still have about 30,000 absentee and provisional ballots to count, which is why the lead has been shifting back and forth.

    Arizona 9th:

    The Associated Press called a victory on Monday afternoon for Democratic candidate Kyrsten Sinema, who had a lead of about 5,800 votes over Republican Vernon Parker for this Phoenix-based district. At issue was that Maricopa County, which contains Phoenix and some outlying suburbs, still had 120,000 ballots to left count, according to county officials cited by the Phoenix New Times. Arizona overall had almost half a million ballots left to count as of Saturday. Parker has not yet conceded the race.

    Not all of Maricopa County’s uncounted votes fall into the 9th Congressional District, but since the county is making its way through a pile of early and provisional ballots, a official result will have to wait until the whole lot is counted.

    California 52nd and 7th:

    It’s a similar story in the two outstanding California seats. Incumbent Republican Brian Bilbray was down 1,334 votes to Democratic challenger Scott Peters for San Diego-based 52nd Congressional District. Like in Arizona, there is a large batch of provisional and absentee ballots to be counted in San Diego County as a whole, some of which will affect the race for the 52nd.

    It’s the same deal in California’s 7th, located in Sacramento County, where officials are still counting absentee and provisional ballots. Republican Rep. Dan Lungren is down 1,779 votes to Democratic challenger Dr. Ami Bera. California has no automatic recount provision, although a challenger can ask for one as long as they put down a $5,000 deposit.

    Bilbray and Lungren have yet to concede.

    Florida 18th:

    Counting is over in South Florida. President Obama won the state and Rep. Allen West (R-FL) lost his bid for re-election to Democratic challenger Patrick Murphy. Except that West hasn’t conceded the (particularly nasty) contest, and is seeking a recount based on “disturbing irregularities” with the vote. The final margin, 6-tenths of a percent, was not small enough to trigger an automatic recount.

    West’s allegations and subsequent filings with Florida courts, documented here in a WPTV report, boil down to the idea that only a potion of the early and provisional ballots in St. Lucie County were recounted. St. Lucie County Assistant Attorney Heather Young provided the reasoning before the recount took place. “There was an issue with the memory cards that record the ballots when they’re fed through the machines originally,” Young told WPTV. “The state has recommended — not just in St. Lucie County, but also in other counties where problems occurred with the memory cards — that ballots be recounted.”

    West’s side called the process a “sham” and made clear they would use the courts to fight the final result, a 2,442 vote margin of victory for the challenger Murphy.

    North Carolina 7th:

    Eight-term Congressman Mike McIntyre (D-NC) has a tiny 420-vote unofficial lead in his contest against state Sen. David Rouzer, down from the 507-vote lead McIntyre held after the dust settled on Election Day. The shifting total is due to officials still counting provisional and absentee ballots in the eastern North Carolina district.

    Rouzer has not conceded, and could ask for a recount under North Carolina law if he’s still behind after all the ballots are counted and the margin of victory remains below 1 percent.

    Louisiana 3rd:

    The 3rd Congressional District in Louisiana isn’t headed for a recount, it’s headed for a run-off. Fellow Congressmen Charles Boustany and Jeff Landry, both Republicans, were forced to run against each other by redistricting. Because of Louisiana’s two-step system, if no candidate gets more than 50 percent of the vote on Election Day, then another election is held a month later. Boustany got 44.7 percent of the total and Tea Party favorite Landry saw 30 percent. The two will head to the final Dec. 8 vote.

  13. CR says:

    ICSC-Goldman Store Sales

    Released On 11/13/2012 7:45:00 AM For wk11/10, 2012 – bloomberg

    Highlights
    Getting a boost from post-hurricane restocking in the Northeast, same-store sales rose 0.7 percent in the November 10 week according to ICSC-Goldman. The reports note particular strength in grocery sales during the week. Yet the report’s year-on-year rate, at plus 1.8 percent, remains soft though it is up four tenths from the prior week.

    For more: http://www.bloomberg.com/markets/economic-calendar/

  14. CR says:

    Home Depot Profit Tops Estimates as Housing Market Heals

    Nov 13, 2012 4:00 AM PT By Chris Burritt – bloomberg

    Home Depot Inc. (HD), the largest U.S. home-improvement retailer, posted third-quarter profit that topped analysts’ estimates as the recovering U.S. housing market prompted customers to spend more on home repairs.

    Net income climbed 1.4 percent to $947 million, or 63 cents a share, from $934 million, or 60 cents, a year earlier, the Atlanta-based company said today in a statement. Excluding some items, profit was 74 cents. The average estimate of 25 analysts surveyed by Bloomberg was 70 cents. Sales rose 4.6 percent to $18.1 billion, topping the $17.9 billion average estimate.

    U.S. real estate values are rebounding after a five-year decline, sending homeowners back to stores for remodeling supplies. Sales at Home Depot locations open at least a year rose 4.2 percent, the sixth straight quarterly increase, as customers visited more often and spent more per trip.

    Home Depot “did an excellent job driving its sales growth with lower promotions,” John Tomlinson, an analyst at ITG Investment Research in New York, said today in an e-mail. “There is no doubt improvements in housing turnover and home prices are also positively impacting its sales trends.”

    Home Depot rose 0.8 percent to $61.67 at 6:46 a.m. in New York. The shares climbed 45 percent this year through yesterday.

    For more: http://www.bloomberg.com/news/2012-11-13/home-depot-profit-rises-1-4-as-customer-traffic-gains.html

  15. CR says:

    Solar eclipse of November 13, 2012

    A total solar eclipse will take place on 13-14 November, 2012, with a magnitude of 1.0500, occuring only 12 hours before perigee, with greatest eclipse totality lasting just over 4 minutes. A solar eclipse occurs when the Moon passes between Earth and the Sun, thereby totally or partially obscuring the image of the Sun for a viewer on Earth. A total solar eclipse occurs when the Moon’s apparent diameter is larger than the Sun, blocking all direct sunlight, turning day into darkness. Totality occurs in a narrow path across the surface of the Earth, while a partial solar eclipse will be visible over a region thousands of kilometres wide.

    http://en.wikipedia.org/wiki/Solar_eclipse_of_November_13,_2012

  16. CR says:

    Credit-Fueled U.S. Car Sales May Need Help From Incomes

    By Lorraine Woellert – Nov 13, 2012 7:51 AM PT

    A rebound in U.S. auto sales has been buoyed by the return of easy lending, even to borrowers with flawed credit histories. Some economists question whether the gains can be sustained without a boost in hiring.

    Auto loans were up 5.5 percent in the second quarter from the same time last year, with riskier buyers accounting for 43.9 percent of the total, up from 42 percent in 2008, according to Experian Plc. (EXPGY) By contrast, hourly wages for non-managers climbed 1.1 percent on average over the past 12 months, the least since records began in 1965, Labor Department figures show.

    The financing spigot opened as Federal Reserve efforts to keep interest rates low prompted investors to pour money into securities backed by subprime car loans in search of higher returns, giving the auto industry and the economic expansion a lift. That may no longer be enough to fuel purchases as wages are held back by a pool of 12.3 million unemployed Americans.

    “If you want to take it to another level of sales, you want to see more of the fundamental drivers of consumption improve more materially, things like income and employment,” said Jacob Oubina, senior U.S. economist at RBC Capital Markets LLC in New York, the bank with the third-best forecasts for consumer spending, according to Bloomberg calculations. “With credit flowing again to subprime, you’ve had the wherewithal to bridge that gap to execute on pent-up demand. That takes you only so far.”

    For more: http://www.bloomberg.com/news/2012-11-13/credit-fueled-u-s-car-sales-may-need-help-from-incomes.html

  17. CR says:

    Please join me in lighting a candle for our President, First Family and the Nation

    http://www.gratefulness.org/candles/candles.cfm?l=eng&gi=PBO

  18. CR says:

    November 13, 2012

    Statement by the President on the Observance of Diwali

    Today, here at home and across the globe, Hindus, Jains, Sikhs and some Buddhists will celebrate the holiday of Diwali – the festival of lights. Diwali is a time for gathering with family and friends, often marked with good food and dancing. It is also a time for prayer and reflection about those less fortunate. It is a testament to the compassion of these communities that so many of them have helped those that have been devastated by Hurricane Sandy.

    Many who observe this holiday will light the Diya, or lamp, which symbolizes the triumph of light over darkness and knowledge over ignorance. As that lamp is lit, we should all recommit ourselves to bring light to any place still facing darkness. Earlier this year, we were reminded of the evil that exists in the world when a gunman walked into the Sikh gurdwara in Oak Creek, Wisconsin and opened fire. In the wake of that horrible tragedy, we saw the resilience of a community that drew strength from their faith and a sense of solidarity with their neighbors, Sikh and non-Sikh alike. We also saw compassion and love, in the heroic actions of the first responders and the outpouring of support from people across the country. Out of a day of sadness, we were reminded that the beauty of America remains our diversity, and our right to religious freedom.

    To those celebrating Diwali, I wish you, your families and loved ones Happy Diwali and Saal Mubarak.

  19. CR says:

    November 13, 2012

    Readout of the President’s Phone Calls with World Leaders

    Today the President was able to continue returning messages of congratulations from his counterparts. In each call, he thanked his counterpart for their friendship and partnership thus far and expressed his desire to continue close cooperation moving ahead.

    The President spoke with:

    President Hamid Karzai of Afghanistan

    Prime Minister Mario Monti of Italy

    King Abdullah II of Jordan

    Amir Hamad bin Khalifa al-Thani of Qatar

    President Vladimir Putin of Russia

    President Mariano Rajoy of Spain

  20. CR says:

    *********************
    THIS POST IS NOW CLOSED

    NBLB Come on over to my newest post

    titled: “ US National Debt 2012 ”
    **********************

    To get to newest post click on “HOME” at the top of the page and click on the title of the newest post

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