Today’s Climate: October 29, 2009

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Sen. Graham Working on Compromise Bill with More Drilling (The Hill)

Sen. Lindsey Graham (R-S.C.) said he is working on a compromise that would allow for new regulations on carbon-based pollutants in exchange for new permission to explore for oil and gas offshore as well as build new nuclear power plants.

Big Polluters Position Themselves to Reap Benefits of Climate Deal (Reuters)

Big energy and engineering companies will reap most profit from an international climate deal, as they use their financial and intellectual clout to grab low carbon subsidies.

EU Leaders Head for Difficult Summit on Climate (EU Observer)

As EU leaders start a two-day climate summit today, a draft from Sweden recommends international financing of €22 billion to €50 billion a year by 2020 and says the EU will "take on its resulting fair share."

Federal Court Clears Way For California Efficiency Standards (NRDC)

The 9th Circuit cleared the path for California to adopt efficiency standards that will save California more than 66 million gallons of water, over 500 gigawatt-hours of electricity, and 50 million therms of natural gas by 2025.

Study: CCS to Almost Double Cost for Coal-Fire Power (Business Green)

The use of carbon capture and storage technology at coal-burning power plants would add 78 percent to the price of producing electricity, according to a report from the Australia-based Global Carbon Capture and Storage Institute.

UK Trustees Vote to Rename Team’s Dorm for Big Coal (Huffington Post)

In a throwback to 19th century backroom deal making, The University of Kentucky Board of Trustees bartered away the name of a Wildcat basketball dorm for Big Coal donations, voting 16-3 to rename it Wildcat Coal Lodge.

Brazil Eyes Deeper CO2 Cuts, Backs UN Forest Plan (Reuters)

Brazil’s environment minister says the government is studying deeper emissions cuts than previously announced and favors a UN-backed forest preservation plan.

White House Wooing CEOs on Cap and Trade (Greenwire)

Obama administration officials met with business executives at the White House to rally support for climate and energy legislation, the third such meeting this month.

China WTO Rep: Carbon Tariff Proposals Unworkable (Reuters)

Proposals to impose "carbon tariffs" on countries that do not make efforts to reduce their CO2 emissions are unworkable and counterproductive, a Chinese trade representative says.

Oil Majors Would Lose Free CO2 Permits in Senate Bill (Bloomberg)

Major oil companies such as Chevron and Exxon would lose some free carbon dioxide permits to smaller refiners under the latest version of a cap- and-trade program.

GE Designing Lightweight Wind Turbine Blades (Business Green)

Engineering giant GE is poised to unveil a new lightweight carbon fiber wind turbine blade design that promises to significantly increase efficiency and revolutionize blade manufacturing.

Estimate for 2 Texas Nuclear Reactors Rises by $4B (Express-News)

The estimated cost of two new nuclear reactors proposed by CPS Energy for San Antonio has gone up as much as $4 billion, prompting the City Council to postpone a vote on the project’s financing until January. The initial cost estimate was $13 billion.

Entergy Asks to Cancel Louisiana Coal Power Project (Times-Picayune)

Entergy Louisiana LLC has asked the Louisiana Public Service Commission for permission to cancel its $1.8 billion Little Gypsy re-powering project, ending a two-year effort to convert an aging natural gas plant to burn coal and petroleum coke.

Greenpeace Dumps 18 Tons of Coal at Swedish Government Office (AFP)

Environmental activists from Greenpeace dumped 18 tons of German coal outside Sweden’s government offices to protest the Swedish state’s coal plant ownership abroad. The group is urging the Prime Minister to shift Vattenfall’s focus to renewable energy.