New Mexico Independent

NEWS ANALYSIS: 'Clean coal' and those pesky negative externalities

Jennifer Thacher — Fri, 19 Sep 2008 22:58:47 GMT

In ‘econ-o-speak’, an externality is an external cost or benefit that is not reflected in the market price. Electricity generation from coal-powered power plants is a perfect example of a negative externality; the cost of generating electricity does not reflect the health and environmental impacts that arise from using coal. Thus, these costs are ignored by producers.

BBC: N.M. GOP leader says Hispanics 'won't vote for a black president'

Trip Jennings — Fri, 19 Sep 2008 22:12:01 GMT

A BBC reporter tooling through the state fair Thursday—the same day that Democrat Barack Obama was in New Mexico—was asking Hispanics their views on Barack Obama’s presidential bid. Reporter Jon Kelly talked first to a young graduate student who said he was going to vote for Obama.

Then Kelly stumbled upon Fernando C de Baca, chairman of the Bernalillo County Republicans. According to Kelly, C de Baca said Hispanics were a naturally conservative group.

Then C de Baca offered Kelly a blunt assessment on why Hispanics wouldn’t vote for Obama.

The reporter, John Kelly, quotes C de Baca as saying:

"The truth is that Hispanics came here as conquerors," he said. "African-Americans came here as slaves.

"Hispanics consider themselves above blacks. They won’t vote for a black president."

Wilson would change her name to Palin

Gwyneth Doland — Fri, 19 Sep 2008 22:05:44 GMT

Last night U.S. Rep. Heather Wilson represented Sen. John McCain at a Georgetown University Young Voters Forum in Washington, D.C., and referring to the popularity of McCain’s running mate, Wilson said that if she were running for reelection (which she isn’t, since losing the Republican primary to Rep. Steve Pearce), she’d "change my last name to Palin." That’s according to Chris Cillizza of the Washington Post’s politics blog The Fix.

U.S. finance system potentially only days away from 'complete meltdown'

benito aragon — Fri, 19 Sep 2008 22:02:00 GMT

In a meeting with congressional leaders Thursday night, Federal Reserve Chairman Ben Bernanke presented the potentially devastating ramifications of the current financial crisis, leaving many in the room in stunned silence, according to a report in the New York Times.

On ABC’s Good Morning America this morning Sen. Christopher J. Dodd, D-Conn., chairman of the Banking, Housing and Urban Affairs Committee, explained that they were told, "that we’re literally maybe days away from a complete meltdown of our financial system, with all the implications here at home and globally.”

Running for prez: Grist compares five candidates' energy & climate plans

Marjorie Childress — Fri, 19 Sep 2008 21:04:43 GMT

The online environmental magazine Grist has put together an easy reference chart comparing the climate and energy policies of the five presidential candidates as part of its ‘08 election series.

The most striking plank out of the lot is McCain’s emphasis on nuclear energy. He wants 45 new nuclear power plants by 2030, with government support for making it happen. Obama says nuclear energy is worth exploring but not a great option due to safety and storage problems, and that it’s pretty expensive.

Guv in the hot seat: N.M. role in cap-and-trade plan revealed next week

Joel Gay — Fri, 19 Sep 2008 20:33:40 GMT

An ambitious plan to curb greenhouse gas emissions in New Mexico and other western states will be unveiled Tuesday, but the proposal could present Gov. Bill Richardson with a politically sensitive decision. One key element of the plan is whether to give away millions of dollars in pollution credits to power plants and other industries or instead auction off the credits and use the revenue for public purposes. In New Mexico, it will be Richardson’s call.

Hillary Clinton fights Bush administration on women's health

Gwyneth Doland — Fri, 19 Sep 2008 20:14:24 GMT

In an opinion piece published in The New York Times, Sen. Hillary Clinton again criticizes the Bush administration for what she says is an attempt to "undermine women’s rights and women’s health" by limiting access to birth control.

As NMI reported earlier this summer, the U.S. Department of Health and Human Services (HHS) attempted to revise some rules that would have dramatically increased the ability of health care workers to say they wouldn’t perform certain duties, procedures or services because they object for moral reasons.

Robert J. Samuelson's warped economics

Arthur Alpert — Fri, 19 Sep 2008 20:11:35 GMT

I told you so. And Robert J. Samuelson did not. Writing in the Albuquerque Tribune over the last few years I explained more than once that the Republican administration (abetted by corporate Democrats) was repealing New Deal regulations. If that succeeded (I worried), we might revisit what inspired the New Deal—the Great Depression. Happily, we’re not there but if the free marketers at Treasury and the Federal Reserve are nationalizing one big chunk of Wall Street after another it’s because depression is possible.

Native American vote threatened by Secretary of State's inaction, officials say

Trip Jennings — Fri, 19 Sep 2008 19:30:22 GMT

New Mexico enters its most serious election season in decades without guidance from the Secretary of State’s office on how to ensure that all New Mexicans get to vote, county clerks and other local officials say.

Alamogordo doubles this week as a cultural hot spot and hot-air balloon mecca

Denise Tessier — Fri, 19 Sep 2008 17:15:00 GMT

Alamogordo is a cultural hot spot this weekend as the White Sands Hot Air Balloon Invitational kicks off in tandem with the Tularosa Basin Wine and Music Fest, the Las Cruces Sun-News reports. The image of colorful balloons against the white gypsum sands is said to be spectacular, and after the balloon launches visitors can listen to music, drink wine and view arts and crafts.

A government plan to rescue banks from bad bets threatens a backlash

Trip Jennings — Fri, 19 Sep 2008 16:15:00 GMT

Mary Kane of the Washington Independent asks about the wisdom of the proposed bailout of banks that would include buying up bad mortgages from ailing institutions.

She writes:

The details don’t seem to matter on Wall Street. Bank shares are rising and the financial sector is pinning all its hopes on the biggest bailout in U.S. history as the only way out of a credit crunch that threatens to take down the market and the entire economy.

TODAY'S TOP STORIES: Financial losses and investigations

Denise Tessier — Fri, 19 Sep 2008 15:06:50 GMT

The Wall Street crisis has affected state and local governments, with Bernalillo County predicting a $2 million to $4 million drop in its annual investment income and the city of Albuquerque postponing a bond sale while the New Mexico Finance Authority might cancel its own bond sale scheduled for next Thursday.
The state Attorney General says an investigation into the disappearance of 182 votes in Cibola County’s June elections is a front-burner issue and still under investigation. Meanwhile, Curry County District Attorney Matt Chandler says he still has questions about last month’s escape .

Wilson: Conservative group may cost GOP the NM senate seat

Matthew Reichbach — Fri, 19 Sep 2008 14:00:00 GMT

Rep. Heather Wilson lost the Republican Senate primary to Rep. Steve Pearce in June.

One contributing factor was the hundreds of thousands of dollars that Club for Growth put into advertising for Pearce and against Wilson. Pearce now faces Rep. Tom Udall in the general election for U.S. Senate.

Hot, hot, hot for Obama in northern New Mexico

Barbara Armijo — Fri, 19 Sep 2008 13:03:29 GMT

In addition to the New Mexico Independent’s Matthew Reichbach’s report on Barack Obama’s visit to Espanola on Thursday, there’s a pictorial and blog post on the Daily Kos today that shows some of the Nuevo Mexico flavor.

Pearce to Udall: You are 'breathtakingly liberal'

Heath Haussamen — Fri, 19 Sep 2008 08:00:00 GMT

Republican U.S. Senate candidate Steve Pearce is out with a new TV ad hitting his Democratic opponent, Tom Udall, as being “breathtakingly liberal.”

Here’s the 30-second spot, which Pearce unveiled today:

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