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Senator Graham Walks Away from Energy Legislation
Immigration More Important than Coal Legislation to U.S. Senate
I want to bring to your attention what appears to be a decision by the Obama Administration and Senate Democratic leadership to move immigration instead of energy. Unless their plan substantially changes this weekend, I will be unable to move forward on energy independence legislation at this time. I will not allow our hard work to be rolled out in a manner that has no chance of success.
Recent press reports indicating that immigration -- not energy -- is their priority have not been repudiated. This has destroyed my confidence that there will be a serious commitment and focus to move energy legislation this year. All of the key players, particularly the Senate leadership, have to want this debate as much as we do. This is clearly not the case.
I am very disappointed with this turn of events and believe their decision flies in the face of commitments made weeks ago to Senators Kerry, Lieberman and me. I deeply regret that election year politics will impede, if not derail, our efforts to make our nation energy independent.
I truly appreciate Senators Kerry, Lieberman, and their staff for the long hours of work. They have been tremendous partners who have negotiated in good faith and stood ready to make the tough choices necessary to bring forward a comprehensive energy bill. I continue to believe our nation's reliance on ever-increasing amounts of foreign oil poses a direct threat to our national security and economic well-being. I know we can create thousands of jobs by pushing for a renaissance in nuclear power, expanded offshore drilling, and unleashing America's innovative spirit. One only needs to look to China and Europe, where 21st Century clean energy jobs are currently being created while we fail to act.
Like you, I share the belief that becoming energy independent and better stewards of our environment are complementary -- not competing -- standards. I was greatly looking forward to the opportunity to address these issues on the floor of the U.S. Senate as we pushed energy independence legislation forward into law. But it appears President Obama and the Senate Democratic leadership have other more partisan, political objectives in mind.
Moving forward on immigration -- in this hurried, panicked manner -- is nothing more than a cynical political ploy. I know from my own personal experience the tremendous amounts of time, energy, and effort that must be devoted to this issue to make even limited progress.
In 2007, we spent hundreds of hours over many months with President Bush?s Secretary of Homeland Security Michael Chertoff, Secretary of Commerce Carlos Gutierrez, and nearly every member of the U.S. Senate searching for a way to address our nation's.
CO2 Capture Emission from Coal Power Plants
Cemtrex, Inc. Information Update
FARMINGDALE, N.Y., Jan. 26 /PRNewswire-FirstCall/ -- Cemtrex Inc. (OTC Bulletin Board: CTEI) announced that it has started its pilot test program to develop its carbon dioxide (CO2) capture technology, Carbondox, for application in coal-fired power plants.
"Carbondox technology represents a measurable and significant breakthrough in combating climate change and economically reducing carbon dioxide emissions from fossil fuel burning power plants," said Mr. Arun Govil, CEO & President of Cemtrex Inc. "Our test program investigates the implementation and optimization of a corona-catalyst and bicarbonate mechanisms in an aqueous medium for the purpose of CO2 capture from flue gases emitted by coal-fired combustors, post-Flue Gas Desulfurization (FGD) equipment."
According to McIlvaine Company the operators of coal-fired power plants are committing billions of dollars in expenditures to reduce the quantities of CO2 per kilowatt of power produced. These expenditures are accelerating at double-digit rates and CO2 capture represents a very sizable capital investment. Most of the large boiler companies are going to be major players in this growing market; however, because of the innovation potential there is a good opportunity for the smaller companies.
CO2 emissions from the burning of fossil fuels are the leading cause of climate change. The general consensus among experts is that to prevent disastrous environmental impacts, CO2 emissions must be reduced by 50% or more from current levels by 2050. In order to accomplish this goal, governments and industries must implement an unprecedented global program to change the way the world produces and uses energy and reduce CO2 emissions in the current energy generation and industrial processes. The present challenge is to find the best mix of technologies and strategies that would achieve the necessary reduction in greenhouse gases while at the same time maximizing economic growth during the transition to a more carbon-neutral world economy.
According to International Energy Agency (IEA), CO2 emissions reduction is a huge new untapped market and it estimates the current total US CO2 emissions at 6 billion tons and the European Union CO2 emissions at over 5 billion tons. It is estimated that $30 billion will be invested in R&D effort and the cost to the US economy alone for avoiding this will be over $1 trillion in the next 40 years. Based upon a $20 per ton carbon price, the estimate for the total carbon dioxide capture market is over $90 billion. The IEA estimates that it may be necessary to spend as much as $200 per ton to achieve the CO2 reduction goals thus increasing the market size tenfold.
Cemtrex Inc. is a worldwide market leader in manufacturing and selling the most advanced instruments for emission monitoring of particulate, opacity, mercury, sulfur dioxide, nitrogen oxides, etc. and filtration products for the industry. Cemtrex also markets Green DCV, an innovative energy efficiency solution for high-quality green building applications, through optimizing HVAC control systems. Cemtrex provides technologies and services for abatement of greenhouse gases and assists customers in developing carbon credit projects. The Company's products are sold to power plants, refineries, chemical plants, cement plants and other industries, including federal and state governmental agencies.
Safe Harbor Statement
This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date.
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