Chevron Defies California On Carbon Emissions

Chevron Corp. (CVX) helped write the first-in-the-nation rule ordering reduced carbon emissions from cars and trucks. Its biofuels chief spoke at the ceremony where California Governor Arnold Schwarzenegger signed the executive order in 2007, the same year the oil company pledged to develop a gasoline replacement from wood.

Now Chevron is leading a lobbying and public relations campaign to undercut the California mandate aimed at curbing global warming, two years after the state started phasing it in. Research on commercially viable climate-friendly products has come to naught, stymied by the poor economics of coaxing hydrocarbons from plants’ stubborn cell walls, according to Chevron officials.

Chevron and its allies take aim at California’s Low Carbon Fuel Standard

San Ramon-based Chevron is leading an aggressive campaign to delay implementation of California’s Low Carbon Fuel Standard, a cornerstone of the state’s efforts to reduce greenhouse gas emissions.

The fuel standard requires the oil industry to gradually reduce the “carbon intensity” of transportation fuels like diesel and gasoline by at least 10 percent by 2020. Chevron and its allies, including the Western States Petroleum Association, are trying to undermine the standard by rallying opposition, financing critical studies and lobbying the Democratic-controlled Legislature, state agencies and Gov. Jerry Brown.

Read the full story at MercuryNews.com

Valero fourth-quarter profits hit $1 billion-mark

Valero Energy Corp. reported net income of $1 billion, or $1.82 per share, on revenues of $34.7 billion during the fourth quarter of 2012.

This compares to net income of $45 million, or eight cents per share, during the prior-year quarter. Revenues were up 0.1 percent. The company was able to improve its financial performance due to a significant improvement in refining margins.

Read the full story at San Antonio Business Journal

The attempt to derail California’s clean-air policies

California businesses and the public at large are beginning to reap the substantial rewards of our state’s landmark clean air and energy policies. Unfortunately, this progress is in significant jeopardy thanks to the oil industry and other dirty energy companies that continue to do everything possible to undermine these laws. It is important to remember the long history of these efforts by looking at the facts – and that means treading over some familiar turf.

Read the full story at CapitolWeekly.net

Climate Change In Obama’s Second Inauguration Speech: ‘We Must Lead’

In his second inauguration speech on January 21, President Barack Obama addressed climate change and emphasized the country’s need to respond and lead.

Read the full story at Huffingtonpost.com