In the wake of Obama's big energy push last week, several new developments in domestic energy production are in motion. The Environmental Protection Agency is putting greenhouse gas emission limits on new power plants, a move that will make it near impossible for new coal plants to be built in the United States—a win for those trying to combat climate change.
The Senate is also getting ready for a big fight over repealing tax cuts for the oil industry. Democrats want to replace the cuts with tax credits for alternative energy, which they say will drive down prices and, by raking in $24 billion over the next decade, help lower the deficit; Republicans say oil companies will raise prices in response.
Two big energy companies are moving forward with pipelines to rival Keystone XL—ones that don't need approval from the State Department since the portions of these pipelines that cross international borders have already been built. Environmentalists have spent most of their time fighting Keystone, but expect efforts to ramp up against these projects, which have far fewer hurdles to jump.
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Chart of the Day
The long-term unemployed are recovering at a slower pace than the rest of the population, something that may indicate deeper problems that could live on after the rest of the country declares "Mission Accomplished" on the economy.
Reason to Get Out of Bed in the Morning
The Institute for Snow and Avalanche Research in Switzerland is conducting research about the size of ice crystals in snow, research that Nestlé hopes to use to make ice cream taste better.
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