If you want to see how policy and elections can either drive or derail renewable energy deployment one should pay attention to the political activity in California. Since the 1970s, California has been the leader among states as it relates to the development of policies to encourage the use of renewable energy, and this election year will be pivotal for California and the country on that front. On November 2nd Proposition 23 will be on the California’s ballot as an initiated state statute, and if approved it would suspend Assembly Bill 32 otherwise known as the Global Warming Act of 2006 (“the Act”). The Act, which is California's landmark clean air legislation, was passed by a Democratic Legislature and Republican Governor Arnold Schwarzenegger and requires that greenhouse gas (“GHG”) emission levels be cut to 1990 levels by 2020. The Act was scheduled to take effect in … [Read more...] about If Approved by Voters on November 2nd, California Ballot Initiative Would Suspend California’s Climate Change Law
X factor 23 november
Energy & Environmental Law Update – Week of November 25, 2013
ENERGY AND CLIMATE DEBATEThe Senate made an historic move Thursday to trigger the “nuclear option,” reducing the confirmation threshold for presidential nominees to a simple majority. Supreme Court nominees will still require 60 or more votes to be confirmed, but the change will allow Department of Energy, Department of the Interior, Environmental Protection Agency, and other nominees to move more quickly through the process.No Senate cloture was reached to consider the National Defense Authorization Act, and discussions in three major House-Senate conferences—for the budget, the Farm Bill, and the Water Resources Development Act—are still ongoing. On Thursday, House Agriculture Chairman Frank Lucas (R-OK) said that farm bill discussions have faltered and that it will be difficult to have a final agreement on the House floor by December 13.Senate Finance Chairman Max Baucus (D-MT) released draft … [Read more...] about Energy & Environmental Law Update – Week of November 25, 2013
Energy and Environment Law Update November 12, 2012
Energy and Climate DebateCampaign season came to a close last Tuesday with President Obama winning a decisive electoral victory, Senate Democrats increasing their margin in the upper chamber, and Republicans maintaining control over the House of Representatives.With the overall makeup of the Executive and Legislative branches of government remaining the same, we can expect to see continued partisan gridlock on some issues as leaders from both parties attempt to move toward consensus on others. The election will impact key energy and environmental issues in both the lame duck session of the 112th Congress and in the 113th Congress next year, as well as the approach and direction the administration takes on the same issues.During his victory speech late Tuesday night, President Obama said that he wants to build a country that is not “threatened by the destructive power of a warming planet.” Additionally, a poll released last week by the American Council on Renewable Energy … [Read more...] about Energy and Environment Law Update November 12, 2012
Financial Services Legislative and Regulatory Update – December 23, 2013
For the first time in a couple of years, the Christmas plans of Congress and their staff (except for the Appropriations Committee) are safe, as the Senate wrapped up its business last week, including the passing of the Murray-Ryan budget agreement by a 64 to 36 vote. Then on the heels of better than expected employment numbers and a revised analysis stating that there was actually 4.1 percent growth in the third quarter, the Federal Reserve finally announced that it would taper its quantitative easing by $10 billion dollars so that it would now only be pumping $75 billion per month into the economy. Contrary to rumors that the taper would be detrimental to the economy, following the announcement, the dollar rose to a two week high against the euro, and the Dow jumped more than 290 points.However, all was not good news for the Fed last week, as Chairman apparent Janet Yellen’s confirmation was delayed until after New Years, and more … [Read more...] about Financial Services Legislative and Regulatory Update – December 23, 2013
Investment Services Regulatory Update – November 2013
New Rules, Proposed Rules and GuidanceCFTC Adopts Rule Amendments to Harmonize Compliance Obligations for Commodity Pool Operators of Registered Investment Companies On August 13, 2013, the Commodity Futures Trading Commission (CFTC) adopted final regulations with respect to compliance obligations for commodity pool operators (CPOs) of registered investment companies. The final regulations (the Harmonization Rules) amend Part 4 of the CFTC’s regulations in order to harmonize the disclosure, reporting and recordkeeping compliance obligations of the CFTC and SEC applicable to entities registered with both regulatory agencies. (In February 2012, the CFTC amended CFTC Rule 4.5, which modified the exclusion from the definition of a CPO for funds by imposing limitations on the use of certain commodity interests. For funds no longer able to claim the exclusion from the definition of a CPO, the investment adviser is now required to register with the CFTC, thus becoming subject to … [Read more...] about Investment Services Regulatory Update – November 2013