Tuesday, December 8, 2009

Solar Energy Stocks Jump After EPA Gas Ruling

Shares of solar energy stocks climbed Monday as the U.S. Environmental Protection Agency declared greenhouse gases a danger to public health and as an analyst turned bullish on several solar names, saying he expects strong demand to continue into the first half of 2010.

The so-called "endangerment finding" announced by EPA Administrator Lisa Jackson is necessary for the administration to move ahead with new light-duty vehicle emission standards and is the precursor to wide-ranging regulations on greenhouse gas emissions.


New Ruling through U.S. Clean Air Act Demonstrates US is Ready to Lead on Climate

Knoxville, Tn.
– Today Stephen A. Smith, Executive Director for the Southern Alliance for Clean Energy, issued a statement in reaction to yesterday’s determination by the U.S. Environmental Protection Agency that global warming pollution does threaten public health and safety. Administrator Jackson indicated the agency would begin taking action under its Clean Air Act authority. This decision was announced just as the first day of international climate talks ended in Copenhagen, Denmark.

“This announcement strengthens the Obama administration in their efforts to regulate carbon in the United States and reinforces our commitment to clean energy in preparation for the international agreement in Copenhagen. While I agree with President Obama and Administrator Jackson that a legislative solution to the problem of climate change is preferable, I believe that if Congress fails to pass comprehensive climate legislation then the EPA should fulfill its obligation to respond to the 2007 U.S. Supreme Court ruling that determined that greenhouse gases fit within the Clean Air Act definition of air pollutants. This ruling provides at least one route for the necessary and serious measures that are needed to reduce global warming pollution in this country.”

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