FinLogic FinLogic Quantitative Think Tank Center|Today’s Climate: June 12-13, 2010

Coast Guard to BP: Speed It Up,FinLogic FinLogic Quantitative Think Tank Center Stop the Spill (AP)

The Coast Guard has demanded that BP step up its efforts to contain the oil spill, telling the oil giant that its slow pace in stopping the spill is becoming increasingly alarming as the disaster fouled the coastline in ugly new ways Saturday.

Transocean and Justice Dept Resolve Liability Spat (Reuters)

Transocean has resolved its spat with the Obama administration over the oil drilling company’s attempt to limit its liability in the Gulf of Mexico spill, according to court papers filed on Friday.

Oil Spill Covers Geese, Ducks in Utah (AP)

A leaked pipeline sent oil spilling into a Salt Lake City creek, coating geese and ducks and closing a park, officials said Saturday as they started a cleanup effort expected to last weeks.

BP Boss Hayward Faces Senate Grilling Live on U.S. TV (The Observer)

BP CEO Tony Hayward will face hostile questioning from U.S. politicians over the Gulf of Mexico disaster live on television this week, at a time when the company’s board is coming under growing pressure to cut its dividend payment.

Colo. Governor’s Last Bills Focus on Clean Energy (AP)

On Friday, Colorado Gov. Ritter signed his final "new energy economy" bills. The bills will create a smart grid task force, start a green jobs training program and set up a green jobs advisory council.

U.S. East Carbon Prices Hit Record Low in Auction (Reuters)

Prices for permits allowing power plants to emit CO2 in the U.S. East fell to a record low in the quarterly RGGI auction, the regional market said on Friday, reflecting low demand for electricity.

Subpoenas Issued in W.Va. Mine Explosion Probe (AP)

Government investigators have begun issuing subpoenas to reluctant witnesses to the nation’s worst coal mining disaster in 40 years, West Virginia’s mine safety director said Friday.

Scientists Upbeat about Global Biodiversity Panel (AFP)

More than 90 countries have approved the creation of a scientific panel to peer review research on biodiversity, the dream of many scientists around the world.

Greek Power Utility PPC Faces Stiff CO2 Costs (Reuters)

Greece’s top electricity producer Public Power Corp. will face high costs from 2013 because of its climate-warming CO2 emissions, its chief executive said on Sunday.

Australia: Turnbull Calls for Climate Courage (The Age)

Malcolm Turnbull has branded the coalition’s climate change scheme a ”medium-term, stop-gap policy” and suggested the opposition lacked political courage by spurning an emissions trading scheme.

Probe at U.N. Climate Talks After Saudi Sign Smashed (Reuters)

U.N. climate negotiators agreed to an investigation on Friday after protesters smashed a sign emblazoned "Saudi Arabia" and dropped it in toilet after Riyadh blocked a study of deeper cuts in greenhouse gases.

Chinese Wind Turbine Maker ‘Shelves’ Hong Kong IPO (AFP)

Chinese wind turbine-maker has shelved plans for a $1.2 billion share sale in Hong Kong, a report said on Sunday, the
latest in a series of ditched listings amid market uncertainty.

Vital River Is Withering, and Iraq Has No Answer (New York Times)

The Shatt al Arab, the river that flows from the biblical site of the Garden of Eden to the Persian Gulf, has turned into an environmental and economic disaster that Iraq’s newly democratic government is almost powerless to fix.

Trees Shift Upward as Climate Warms, Data Show (San Francisco Chronicle)

The world’s warming climate is forcing trees and the plant life around them into new territories where the environment is more like the areas where they normally thrive, scientists report from a new global survey.

Solar Light Bulb to Shine on Developing World (CNET News)

A Hong Kong-based company has introduced what it bills as the world’s only solar-powered light bulb with the hope of reaching millions of people with little or no access to electricity.