Governor Douglas appointed by President Obama to co-chair Council of Governors

first_imgGovernor Jim Douglas has been appointed by President Obama to co-chair the Council of Governors, a bipartisan group of 10 governors who will work closely with the Secretaries of Defense and Homeland Security, as well as other defense and national security officials to advise on matters related to the National Guard and civil support missions.“It is a great honor to be asked by the President to co-chair the Council,” said Governor Douglas.  “Ensuring that the state and federal governments are coordinated in response to domestic military operations and disasters is critical to the safety and security of our Vermont residents, and citizens across the country.”The National Guard Empowerment Act of 2007 directed the President to establish a bipartisan Council of Governors – five from each party – who will work with defense and homeland security officials on issues regarding the command structure for National Guard and active duty military forces operating within states in response to domestic disasters and emergencies.“Governors appreciate the opportunity to exchange ideas and views about military operations within their states,” said the Governor.  “This Council will provide a forum for the discussion of issues that might arise and ultimately lead to more effective responses to domestic disasters and emergencies.”  On January 11, President Obama issued an executive order to formally establish the Council.  Its membership includes:Ø Governor James H. Douglas, Co-ChairØ Governor Chris Gregoire, Co-ChairØ Governor Janice K. BrewerØ Governor Luis G. FortuñoØ Governor Brad Henry, MemberØ Governor Robert F. McDonnellØ Governor Jeremiah W. (Jay) NixonØ Governor Martin O’MalleyØ Governor Beverly Eaves PerdueØ Governor M. Michael RoundsØ Secretary of DefenseØ Secretary of Homeland SecurityØ Assistant to the President for Homeland Security and CounterterrorismØ Assistant to the President for Intergovernmental Affairs and Public EngagementØ Assistant Secretary of Defense for Homeland Defense and Americas’ Security AffairsØ Commander, U.S. Northern CommandØ Chief, National Guard BureauØ Commandant, U.S. Coast Guard Source: Governor Douglas’ office. 2.5.2010###last_img read more

Who Will Invest in Clean Energy? Big Money Will

first_imgWho Will Invest in Clean Energy? Big Money Will FacebookTwitterLinkedInEmailPrint分享Bloomberg New Energy Finance:People who invest in the world’s energy systems often want to know how many trillions of dollars will be needed to finance renewable energy and natural gas. One way to find the answer is to look at what those who have already invested trillions of dollars want to happen as the world transitions to a lower-carbon power system and electrifies transportation.A look at the numbers shows that the first thing they want is scale. The 10 largest institutional asset managers each manage more than $1 trillion; the largest, BlackRock Inc., manages nearly $6 trillion. Trillions of dollars of investor supply naturally need trillions of dollars of asset and company demand.Fortunately for energy, it has such a demand. Bloomberg New Energy Finance estimates that zero-carbon power generation will attract almost $9 trillion in investment between now and 2040.Increasingly, the suppliers of that institutionally managed money want to know how their portfolios will affect climate change. Earlier this year, David Fickling took a smart look at the largest asset managers and found that most of the 20 biggest ones back shareholder resolutions on climate and sustainability. Such resolutions are becoming far more common, too: This year, investors have filed 189 climate and sustainability resolutions with U.S.-listed companies — as many as in the previous five years combined, according to Ceres’ climate and sustainability resolutions database.And then there’s yield. Investors are still piling into U.S. energy high-yield debt, which mostly funds oil and gas exploration and production. As Liam Denning noted in August, even this risky part of the energy bond market still yields in the range of only 6 to 7 percent.A decade ago, the yield from U.S. energy fixed income would have been comfortably investment-grade, according to the International Monetary Fund’s October Global Financial Stability Report. In 2007, all but a very small proportion of corporate debt yielded more than 4 percent, and not a dime of securitized or collateralized debt yielded below 4 percent. Ten years ago, “only” $3.4 trillion of investment-grade fixed income yielded below 4 percent.Things look rather different now. According to the IMF, there is now just under $40 trillion of investment-grade fixed income yielding below 4 percent, including more than $5 trillion with a negative yield.This yield distribution, then, is what anything needs to beat to be considered “high yield.” 2007’s investment-grade yield is today’s risky yield; today’s low-risk yield is barely any yield at all, and could even be a negative yield.There’s plenty of money out there to create renewable technologies, and its institutional investors want more than lower-carbon investment strategies. They also are seeking to beat very low investment-grade yields.In 2007, when renewable technologies were expensive compared with conventional energy, and when shale gas just a glimmer in the eye of the U.S. oil patch, there may have been a funding gap. Today, we’re dealing with something more addressable: a simple matter of allocation. Trillions of dollars are needed; trillions of dollars exist. It’s just a matter of aligning supply and demand.More: Who Will Fund Clean Energy?last_img read more