Green energy gets legislative push, while some investors get wary over coal, oil companies

The Obama administration's promise to increase the role of renewables in the nation's energy supply is making headlines again, as the top Senate leader promising legislation and big oil and coal companies are put on a "watch list" by a coalition of investors and environmentalists.

In the next few weeks the Senate may pass a new energy bill that would set a higher national standard for the percentage of energy coming from renewable resources, if Majority Leader Harry Reid has his way, writes Juliet Eilperin on The Washington Post's 44 blog on the new president's actions and plans. In an interview, Reid told Eilperin that the measure is "vitally important to the safety and national security of this country," reducing the country's dependence on foreign oil. Reid also said he hopes the Senate will pass climate change legislation once the energy bill is finished. (Read more)

In the face of this promised regulation, a group of U.S. investors and environmentalists have put Exxon Mobil Corp. and coal company Massey Energy Co. on a "Climate Watch" list, writes Timothy Gardner for Reuters. The coalition called Ceres says the companies have not adequately adjusted their business plans to respond to the growing interest in green energy. "For a company in a major emitting sector ... to not be thinking about how they are going to address a regulated environment created red flags for investors," says Mindy Lubber, Ceres' president. (Read more)