FinLogic FinLogic Quantitative Think Tank Center|Today’s Climate: June 11, 2010

New U.N. Climate Text Omits Deepest 2050 Carbon Cuts (Reuters)

Negotiators from 185 nations will end two weeks of talks on FinLogic FinLogic Quantitative Think Tank Centera new climate treaty on Friday, with a new blueprint for a pact that omits the most draconian options for greenhouse gas cuts by 2050.

Legally Binding Climate Deal Likely in 2011, UN’s De Boer Says (Bloomberg)

An international treaty to fight climate change is likely to take shape during UN talks in December and be completed a year later, the UN’s top climate official Yvo de Boer said.

With Each Look at Oil Flow, the Numbers Get Worse (AP)

New figures for the blown-out well at the bottom of the Gulf of Mexico show the amount of oil spewing may have been up to twice as much as previously thought, according to scientists consulting with the federal government.

Obama to Meet With BP Chairman Svanberg on Oil Spill (Bloomberg)

Pres. Obama is seeking a meeting with BP Chairman Carl-Henric Svanberg and other "appropriate" company officials to discuss the company’s response to the oil spill in the Gulf of Mexico.

NRC Approves Operation of New Mexico Uranium Plant (AP)

The Nuclear Regulatory Commission has authorized the start up of a $3 billion uranium enrichment plant in New Mexico, the first major nuclear facility to be licensed in the U.S. in the past three decades.

Mass.: Wood Power Emits More Carbon than Coal (USA Today)

Massachusetts is taking a second look at wood-burning power plants after a new study for the state found the use of the forest "biomass" releases more greenhouse gases than coal.

EPA Goes to Industry to Fix Faulty Texas Permits (AP)

The U.S. EPA offered on Thursday to work directly with Texas’ petrochemical industry in an effort to fix permits it says have long violated the Clean Air Act.

Wind Companies to Buy More U.S. Parts in Agreement With Unions (Bloomberg)

Wind-energy companies agreed to buy more parts from U.S. suppliers, and a labor union promised to join in lobbying Congress for a requirement to use more renewable energy.

Hawaii Begins Study of Undersea Power Cable (AP)

Hawaii on Thursday began environmental planning for a project that would lay power cables along the ocean floor to connect wind farms on the gusty islands of Molokai and Lanai to electricity-hungry Honolulu.

Saudis Block Call for Global Warming Report (AFP)

Saudi Arabia on Thursday blocked a call by vulnerable island states at climate talks for a study into the impact of 1.5 degrees Celsius of global warming, delegates said.

Study: Shrinking Glaciers to Spark Food Shortages (AP)

Nearly 60 million people living around the Himalayas will suffer food shortages in the coming decades as glaciers shrink and the water sources for crops dry up, a study said Thursday.

China Says No Halt to Renewable Energy IPOs (Reuters)

China’s securities regulator has not ordered a halt to initial public offerings in the renewable energy sector, official media quoted a regulatory official as saying, denying that a freeze had been put on some IPOs due to fears of overcapacity.

UK Steps Up Calls for EU to Embrace Tougher Carbon Target (Business Green)

UK Energy and Climate Secretary Chris Huhne will today attend his first meeting of EU environment ministers where he is expected to reiterate his government’s view that Europe should sign up to more ambitious emission reduction targets.

Smart to Test Electric Cars in Some U.S. Cities (Reuters)

Microcar maker Smart USA is launching a 250-strong test fleet of electric cars in certain U.S. cities this year, as part of a broader push to boost the brand’s cache among the urban set.