1: President Barack Obama
Last month’s first Oval Office address by President Obama on the Gulf spill was paned for its lack of specifics. We at G.E.R. believed that the speech was pure-Obama as he he provided the outline for a comprehensive climate change and energy legislation. But much like he did during the healthcare debate, he once again left it up to Congress to come with the details. The strategy, while disappointing for the president’s base, has been productive: It got healthcare passed and the administration is close to getting a financial overhaul bill. Will the strategy work for the Kerry – Lieberman climate change bill? It’s been nearly two months since the legislation was officially introduced to the Senate and so far the odds aren’t in favor of its passage, largely blocked by strong opposition to its cap-and-trade provision. But we can’t say that Obama hasn’t given it a try.
2: Tesla IPO
Given the poor track record of cleantech Initial Public Offerings this year, the prognosis for Tesla’s IPO wasn’t good. The California electric car maker lacked revenues and had a cash burn-rate that would scare away the most tested venture capitalists. But on Tuesday night Tesla, two weeks after its IPO, was trading slightly above its $17 introductory price. Investors appear to be betting that over the long, (long) term the California car company, its powerful strategic investors and tested marketing, will come out a winner. Read More »
The regulatory fallout from BP’s Gulf oil spill is inflicting collateral damage on a major offshore wind project in Delaware.
