Friday night, Sen. Barbara Boxer issued an updated version of the Kerry-Boxer climate bill, and the more we learn about this bill, the more it resembles Waxman-Markey--only worse.

It will impose even greater costs on the economy and distribute those costs just as inequitably. It promises more consumer pain but also imposes much greater burdens on some parties than others. Farmers, truckers, airline passengers, families and all businesses that rely on petroleum fuels will be the clear losers, paying the lion's share of the costs.

Although the committee has been slow in releasing details of the legislation, making it difficult to analyze the costs, the close similarity to Waxman-Markey suggests the costs of Kerry-Boxer would be at least as great, including gasoline and diesel prices that cou... more »

More voices are speaking out against the climate legislation being considered on Capitol Hill. Here's a sampling of some of the statements and studies that have been in the news during the past couple of days.

Sens. Kay Bailey Hutchinson and Kit Bond released a report showing that the Waxman-Markey climate bill amounts to a $3.6 trillion energy tax on transportation fuels. The study shows that from 2010 to 2050 motorists, workers and businesses would pay $2.0 trillion more for gasoline; truckers, farmers and businesses would pay $1.3 trillion more for diesel fuel; and airline passengers would be charged $330 billion more to pay for jet fuel.

Reacting to the Hutchinson/Bond study, the American Trucking Association (ATA) issued a news release to remind elected officials that diesel fuel is u... more »

House and Senate leaders are continuing to push for climate legislation despite the fact that far fewer people believe that global warming is a serious problem, according to a new survey released today by the Pew Research Center for the People & the Press. The survey, conducted among 1,500 adults from Sept. 30-Oct. 4, shows that 35 percent of respondents believe global warming is very serious as compared with 44 percent in April 2008.

Similarly, the new poll shows that 36 percent of Americans believe that global temperatures are linked to human activity, down from 47 percent last year.

The poll also indicates that few Americans are following the debate about the climate bills that are being considered in Congress. A majority (55 percent) said they had heard nothing about "cap and trade" po... more »

As I've discussed on this blog, I recently traveled with a group of bloggers to visit man-made islands where drilling for oil and natural gas occurs in coastal waters--the THUMS Islands in Long Beach, CA.

Watch the video above to relive my experience at THUMS where in 2008, 10.9 million barrels of oil were produced along with 4.9 billion cubic feet of natural gas. And even with all of the energy production occurring here, the location keeps the appearance of a resort community or high-end condominium complex, making it really unique.

For more on my trip, listen to the THUMS episode of Energy Tomorrow Radio and read the following blog posts:

• Energy Tomorrow Radio: Episode 91 - THUMS Islands Location Tour
• Riviera of the West
• Resource-Rich Real Estate
• Traveling to THUMS

One of the most reliable barometers of drilling activity is the Baker Hughes rig count. Since 1944, Baker Hughes, an oil services company that produces drill bits, has been issuing weekly counts of U.S. and Canadian rotary drilling rigs that are actively drilling for oil and natural gas. The weekly figures are released at noon on the last day of the work week and are regular features in many energy industry magazines and newsletters.

Last Friday, Oct. 16, the rig count in the United States totaled 1,040. Compared to the previous week, the count was down by one. In Canada last week, the rig count totaled 250, which was 11 higher than the previous week. In both cases, last week's rig counts were significantly lower than at the same time in 2008.

During the past several years, the rig count h... more »