0 The Michigan Daily - michigandaily.com
From Page 1
Throughout his speech, Portney
advocated amarket-based approach
to both of these problems.
Citing stats that show the U.S.
uses far more petroleum per per-
son than the rest of the world,
Portney said importing about 12
million barrels of oil each day, as
the U.S. currently does, causes
many severe problems for the
country. He said reducing con-
sumption is necessary and raising
petroleum prices would be "by far,
25 billion barrels of petroleum per
year, about five times more than
the world's average nation.
Portney said the three tradi-
tional solutions to energy chal-
lenges - efforts to convince
people to consume less, govern-
development and direct regula-
tion at the federal level - won't go
far enough to curb consumption.
Throughout the talk, Portney
stressed that government should
not dictate the country's energy
and fuel sources in the future.
"One thing I don't think gov-
ernment is good at, no matter how
smart the people are, is figuring
out what sources of fuel we should
be using 10 or 15 years from now,"
he said. "I'd rather just get the
prices right and let all the smart
entrepreneurs figure out how to
live within that."
He suggested a similar, market-
based approach to making energy
production carbon-free. He said
reducing carbon emissions is
necessary because the repercus-
sions of global warming would be
Portney said half of the coun-
try's energy is now produced by
burning coal, which "produces a
hell of a lot of carbon." Another
20 percent of the country's energy
production produces even more
greenhouse gases, he said.
He proposed a tax on green-
house emissions that would gen-
erate revenue for a government
facing an enormous national debt.
But he said he expected a cap
and trade system instead, which
President-elect Barack Obama
Under a cap and trade system,
the government would require
every business that produces
greenhouse gases to reduce its
emissions by a certain percentage.
Businesses able to cheaply reduce
their emissions below the cap
would then be permitted to sell
their surplus reduction to compa-
Portney addressed a number
of other current political issues,
including the idea of using corn-
based ethanol as fuel.
"We need to do research on
alcohol, I just think we picked
the worst one in ethanol," he said.
"That wasn't based on climate sci-
ence - it was political science."
He also lampooned Obama's
suggestion to create a so-called
"car czar" who would oversee the
automobile industry's restructur-
"I think that this is one of the
worst ideas of all time and I hope
it gets abandoned," he said. "I
think a car czar would be a death
knell for the car industry."
LSA freshman Brandon Leb-
owitz said he attended the event
because he felt energy manage-
ment will soon become an impor-
tant national issue. Asa pre-admit
to the Business School, he said he
was especially interested to hear
Portney discuss the benefits and
drawbacks of a cap and trade sys-
First year Rackham student Di
Gao said she attended the lecture
to learnmore about the policy side
of energy use as she worked on the
technical side in her chemistry
"Energy is a really crucial issue
today because we are running
out," she said.
From Page 1
The bill puts a government over-
seer named by Bush - a kind of "car
czar" - in charge of setting guide-
lines for an industrywide overhaul,
with the power to revoke the loans
if the carmakers weren't takingsuf-
ficient steps to reinvent themselves.
House Speaker Nancy Pelosi,
D-Calif., said the restructuring
would require tough concessions
from management, labor, creditors
"We call this the barbershop.
Still, the White House said a
preliminary look at the draft didn't
appear to contain strict enough
conditions to ensure that long-term
financing would be available only
to companies that could survive,
according to officials who would
comment on the continuing nego-
tiations only on condition of ano-
The crux of the White House's
From Page 1
athletic director, even if nottrue."
In his presentation, Riles said
there's a chance the perks practice
"attracts faculty members included to
view big-time football more favorably
than other faculty members do."
There was a good deal of dis-
sent among Assembly members
over Riles's resolution, however,
with many faculty saying that the
resolution's passage would send a
mesoage that the Senate Assembly
doubted the integrity of faculty
members on the APC.
In a November letter to members
of the Senate Advisory Committee
on University Affairs, an executive
body within the Senate Assembly,
Athletic Director Bill Martin said
discussions aboutthe potential con-
concern is that there may not be
enough clear, immediate protec-
tion for taxpayers if a company is
not meeting its own promises for
long-term viability after review by
the president's overseer. The lat-
est proposal suggests Congress may
have to get involved again in a few
months and pass a law to force a
company to stick to its own plan - a
potentiallyunwieldy political step.
Rep. Barney Frank, D-Mass., the
House Financial Services Commit-
tee chairman who is leading nego-
tiations on the measure, said he was
optimistic thatthe differences could
"There are a couple of specific
issues to be negotiated. I think they
can be worked out," Frank said
Sen. Carl Levin, D-Mich., a key
allyofthe auto industry, said getting
the roughly 15 Republicans needed
to support the plan was an uphill
"This is a real hill to climb. even
if we can get agreement between
the White House and congressional
leaders," he said.
flict of interest with the perks prac-
tice should be held outside of the
Athletic Department and directed
to the Office of the Provost.
Apart from Martin, many Uni-
versity officials outside of the Sen-
ate Assembly - President Coleman
and University Provost Teresa Sul-
livan, among them - have defend-
ed the perks practice, saying that
because the APC only serves an
advisory role to the Office of the
Provost, it eliminates the possibil-
ity of a conflict of interest.
While Riles was discussing the
merits of his own resolution with
Assembly members, Statistics Prof.
Edward Rothman went before the
Assembly to present a related reso-
lution, which advocated for the dis-
solution of the APC.
Rothman proposed that, in place
ofthe APC, regular academic advis-
ers within each University school
Even sympathetic Republicans
Voinovich, R-Ohio, has "numerous
concerns" about the bill, including
the strength of the taxpayer protec-
tions and the role of the so-called
car czar, said spokesman Chris Pau-
There are lingering differences
between the administration and
Congress on details of the czar's
role and responsibilities, essentially
a proxy fight between the White
House and Democrats over wheth-
er Bush or President-elect Barack
Obama should have the final say on
who runs the auto industry restruc-
Democrats are pressing to allow
the presidentto choose other people
beside the czar to help oversee the
bailout, while the White House
wants just one person tapped by
Bush to have control.
Congress Republicans and the
White House also are balking at a
requirement Democrats included in
their proposal that the carmakers
drop their opposition to efforts by
California and several other states
or college make decisions on ath-
lete academic eligibility issues.
The Assembly will also vote on
Rothman's resolution at the Jan. 26
The first-ever University of
Michigan Faculty Undergraduate
Scholarship was awarded at yester-
day's Senate Assembly.
The scholarship, funded by
donations from faculty and match-
ing funds from Coleman, was
awarded to LSA freshman Lama
A Dearborn Heights native,
Bandar thanked Senate Assembly
members for the award and said
she hoped it would help with her
future career plans.
"It means so much to me," she
Tuesday, December 9, 2008 - 7
to impose stricter emissions rules
than the federal standard.
In a press release distributed yes-
terday, Rep. John Dingell (D-Mich.)
said he believes the negotiations
will end with some kind of aid for
the auto industry.
"There is a lot of hard work left
to do, but Iam optimistic that these
negotiations will produce legisla-
tion that will help us avert a crisis
that will have a catastrophic con-
sequences for our nation," Dingell
Pelosi is seeking that bar at the
behest of environmentalists who
are angry that money to bail out
the auto industry will be drawn
from an existing loan program
that was meant to help the Big
Three build greener vehicles that
burn less gasoline.
That's just one of several
restrictions the bill places on the
automakers while they're receiving
-The Associated Press and
Daily Staff Reporter Thomas
Chan reported to this report.
said. "I plan on pursuing a career
in medicine, and this money will
be extremely beneficial with that."
Electrical Engineering Prof.
Semyon Meerkov, chair of the
scholarship's selection commit-
tee, said the scholarship fund had
raised $122,000 so far, but his goal
was to reach $500,000 and award
four individual scholarships to
Right now, the scholarship
is worth $3,000 per year, and is
renewable over four years if the
recipient maintains a GPA of 3.0 or
Meerkov said the selection
process begins with identifying
incoming students who have close
to a 4.0 GPA in high school. The
finalists are asked to write an essay
explaining how the scholarship
will help them as students and in
their future careers.
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For Wednesday, Dec. 10, 2008
(March 21 to April 19)
Don't be lippy with bosses, parents or
VIPs today, even though something
might happen that is the absolute last
straw. (Grrrr.) Don't quit your day job
unless it's torturous.
(April 20 to May 20)
Travel plans might be canceled today.
Problems with publishing, the media,
higher education, medicine and the law
are likely to occur. Everything is unsta-
(May 21 to June 20)
Squabbles about inheritances, insur-
ance matters, debt, other people's
income and shared property are likely
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(June 21to July 22)
Quarrels and squabbles with partners
and close friends are likely today. People
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promise; in addition, they feel rebel-
(July 23 to Aug. 22)
Expect interruptions at work today.
Computer crashes, power outages, fire
drills, staff shortages and canceled
appointments are just some examples.
Be prepared, and be patient.
(Aug. 23 to Sept. 22)
This is an accident-prone day for chil-
dren in your care. Be extra vigilant. Slow
down and don't rush things, because
your own energy can influence those
(Sept. 23 to Oct. 22)
Computer problems, appliance break-
downs, power outages and minor break-
ages at home are likely today. Family
squabbles also might break out. Be part
of the solution, not part of the problem.
(Oct. 23 to Nov. 21)
This is definitely an accident-prone
day. Slow down! Think before you speak
and act. Allow extra time for everything
that you're doing. Take it easy.
(Nov. 22t o Dec. 21)
You might find money today; you
might lose money. If shopping, keep
your receipts. Something having to do
with your cash flow and your posses-
sions is very shaky today. You also might
(Dec. 22to Jan. 19)
You feel restless, rebellious and nerv-
ous today. Don't jump the gun or be
quick to assume things. Give everyone
and everything the benefit of the doubt
and a lot of space.
(Jan. 20 to Feb. 18)
You probably feel a bit restless and
edgy today. Possibly, something you're
working on or a relationship you have
will suffer a setback or even a break-
(Feb. 19 to March 20)
Squabbles with friends and groups are
likely today, perhaps because you feel so
independent, rebellious and unwilling to
take direction from anyone. Oh well.
Everyone else feels this way too!
YOU BORN TODAY You appear
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