Just weeks after Environmental Protection Agency (EPA) Administrator Lisa P. Jackson stood in front of the U.S. Senate to outline how the Agency would use funds in President Obama's proposed 2012 budget, Energy Secretary Steven Chu made his case to the Subcommittee on Energy and Water Development of the House Committee on Appropriations.
The Japanese nuclear nightmare prompted more selling on the world’s stock markets today, after the Nikkei 225 index on the Tokyo exchange closed down 10.56% today (Tuesday). In Germany, the government announced today it will shut down seven of the country's oldest nuclear reactors for three months as part of a safety review.
The nuclear fallout from the 9.0-magnitude earthquake and ensuing tsunami that rocked Japan on Friday continues to escalate. After a third reactor explosion occurred early Tuesday morning at the Fukushima nuclear power plant, a fourth reactor started on fire causing more radioactive material to be released.
Stock markets rose today despite the Japanese earthquake, but they failed to overcome the mid-week worries about increasing gasoline prices damaging the fragile economic recovery.
U.S. stock markets and all overseas markets finished the week in negative territory. Indices reflecting the clean and efficient energy sectors were also down, with solar companies faring the worst.
Shares of Amerigon Incorporated (Nasdaq: ARGN) soared more than 13% Monday -- and another 10% by mid-session today -- after announcing an agreement to acquire its larger competitor W.E.T. Automotive Systems AG (XETRA: WET.DE) for euro 121.6 million ($166.6 million). If the deal is approved by shareholders and regulations, it will end litigation between the two companies over patents for energy efficient thermal seats for automobiles.
After what appears to be considerable outcry from industry, initial plans by Japan to implement a comprehensive carbon emissions trading scheme by 2013 have been put on hold -- at least until 2014.
The newest report from GTM Research shows that the United States is now a net exporter of solar power, via solar panels, solar cells, and such peripheral supplies as inverters, solar trackers, charge controllers and racking systems.