August, 27 2009, 12:00am EDT
For Immediate Release
Contact:
Caitlin Jennings, American Rivers, 202-243-7023
Lisa Hollingsworth-Segedy, American Rivers, 412-727-6130
Larry Miller, US Fish and Wildlife Service, 717-705-7838
Smethport Dam to be Removed to Restore Tributary of Wild and Scenic Allegheny River
PITTSBURGH, Pa.
The Smethport Dam, located on Blacksmith Run west of Smethport, Pennsylvania, will be removed next week to improve public safety and fish passage and to restore a tributary of the Wild and Scenic Allegheny River.
American Rivers funded the design phase of this project in 2005 through a $20,000 award financed by the Pennsylvania Department of Environmental Protection Growing Greener award. The actual removal of the dam is funded by the Eastern Brook Trout Joint Venture, the U.S. Fish and Wildlife Service, the Pennsylvania Fish and Boat Commission, and the Richard King Mellon Foundation.
Blacksmith Run, a tributary to the Wild and Scenic Allegheny River, is a cold water fishery that supports a population of wild brook trout. This project will restore nearly two miles of free-flowing stream, making important upstream breeding grounds more accessible. The Wild and Scenic Allegheny River flows through forested valleys and rural landscapes rich with history and culture. The river is popular for canoeing and other recreation.
The 20 foot high, 375 foot long dam was originally built in 1881 for water supply but is no longer needed. The dam has been labeled a high-hazard structure, meaning that it would result in loss of life and significant property damage if it failed.
"By removing this obsolete dam we are removing a community liability and creating a community asset-a healthy, thriving river," said Lisa Hollingsworth-Segedy of American Rivers. "When a river is returned to health, it can benefit a community by supplying clean water, fish, flood protection, and new recreation and economic opportunities."
"Many of the functional values of rivers and streams are directly associated with the characteristics of free flowing water. Rivers and streams also act as important highways for many aquatic organisms, allowing them to efficiently access various instream habitats that are critical to their health and well being," said Larry Miller with the U.S. Fish and Wildlife Service's Mid-Atlantic Fishery Resources Office in Harrisburg, Pennsylvania. "Removal of the Smethport Dam will restore many functional values of this reach of the Blacksmith Run, and once again provide an open highway for aquatic life. The U.S. Fish and Wildlife Service is pleased to be a part of this cooperative effort to restore the free flowing stream values to this reach of Blacksmith Run."
Pennsylvania leads the nation in dam removal projects and six dams have already been removed in Pennsylvania this year. American Rivers works across the country to remove outdated dams and other stream barriers. The organization's expertise and advocacy have contributed to the removal of more than 200 dams nationwide. Removing an obsolete, harmful dam can help a community by improving public safety, reducing flood damage, saving money, increasing economic opportunities, restoring overall river health, improving water quality, and boosting community resiliency to climate change.
American Rivers is the only national organization standing up for healthy rivers so our communities can thrive. Through national advocacy, innovative solutions and our growing network of strategic partners, we protect and promote our rivers as valuable assets that are vital to our health, safety and quality of life. Founded in 1973, American Rivers has more than 65,000 members and supporters nationwide, with offices in Washington, DC and the Mid-Atlantic, Northeast, Midwest, Southeast, California and Northwest regions.
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Trump-Era Deregulation Deemed a Key Culprit in the Failure of Silicon Valley Bank
"President Trump and congressional Republicans' decision to roll back Dodd-Frank's 'too big to fail' rules for banks like SVB—reducing both oversight and capital requirements—contributed to a costly collapse," said Sen. Elizabeth Warren.
Mar 12, 2023
In 2018, ignoring the vocal warnings of experts and advocacy groups, the then-Republican-controlled Congress passed legislation that weakened post-financial crisis regulations for banks with between $50 billion and $250 billion in assets, sparking fears of systemically risky failures and more taxpayer bailouts.
Silicon Valley Bank (SVB), the California-based firm that collapsed on Friday, controlled an estimated $212 billion, leading analysts and lawmakers to argue that the 2018 law made the institution's market-rattling failure and resulting federal takeover more likely.
Sen. Elizabeth Warren (D-Mass.), who was an outspoken opponent of the deregulatory measure, said in a statement Friday that "President Trump and congressional Republicans' decision to roll back Dodd-Frank's 'too big to fail' rules for banks like SVB—reducing both oversight and capital requirements—contributed to a costly collapse."
But the GOP wasn't alone in its support for Sen. Mike Crapo's (R-Idaho) Economic Growth, Regulatory Relief, and Consumer Protection Act, which critics dubbed the Bank Lobbyist Act.
As Warren noted as the bill was flying through Congress, a number of Democrats—including Sens. Mark Warner (D-Va.), Joe Manchin (D-W.Va.), and Jon Tester (D-Mont.)—were integral to the legislation's passage, which led almost immediately to more bank consolidation.
Prior to the enactment of the Crapo bill, which then-President Donald Trump signed into law on May 24, 2018, banks with more than $50 billion in assets were subject to enhanced liquidity mandates and more frequent stress tests aimed at ensuring they could weather economic turmoil.
The 2018 law raised the threshold for the more stringent regulations to $250 billion or higher, a gift to banks like SVB that had been working for years to gut post-crisis regulations implemented under the Dodd-Frank Act of 2010. The diminished oversight, some argued, is at least partly to blame for SVB's crisis.
"The collapse of Silicon Valley Bank was totally avoidable," Rep. Katie Porter (D-Calif.) wrote on Twitter. "In 2018, Wall Street pushed a deregulation bill that allowed banks like SVB to take reckless risks. It passed, even as I and many others warned of the risks. I am writing legislation to reverse that law."
As The Leverreported Friday, SVB specifically pushed Congress in 2015 to hike the regulatory threshold to $250 billion, with the bank's president touting its "strong risk management practices."
"Three years later—after the bank spent more than half a million dollars on federal lobbying—lawmakers obliged," the outlet noted.
The collapse of SVB, a major lender to tech startups, was the second-largest bank failure in U.S. history and the biggest since the 2008 crisis. SVB's failure came days after it announced it sold $21 billion worth of bonds at a substantial loss, triggering fears about the firm's health and a run on the bank that was intensified by venture capitalists' calls for startups to pull their money.
The bank's last-ditch efforts to raise capital and find a buyer failed, prompting regulators to seize its assets and begin efforts to make depositors whole. (SVB reportedly paid out bonuses to U.S. employees just hours before federal regulators took over.)
The American Prospect's David Dayen noted that "because the depositors holding the bag at SVB are Very Important People, there's going to be intense pressure for a bailout."
"Hedge fund titan Bill Ackman is already calling for one," Dayen observed. "Larry Summers told Bloomberg that the financial system should be fine, as long as depositors get every penny of their money back, which would be a $150 billion bailout."
In an appearance on "Face the Nation" Sunday morning, Treasury Secretary Janet Yellen pledged that "we are not going to do that again," referring to the bank bailouts of 2008.
"But we are concerned about depositors," Yellen added, "and we're focused on trying to meet their needs."
"This predictable disaster should give serious pause to the current MAGA House majority who are pursuing further rollbacks of consumer financial protections after taking money hand over fist from Wall Street banks."
In a statement on Saturday, Liz Zelnick of the watchdog group Accountable.US said that "this mess was left behind by congressional Republicans and the Trump administration, who were too deep in the big banks' pocket to care about the consequences of gutting financial industry oversight."
"The chickens came home to roost this week in the Republican war against Wall Street reform and consumer financial protections," Zelnick continued. "This predictable disaster should give serious pause to the current MAGA House majority who are pursuing further rollbacks of consumer financial protections after taking money hand over fist from Wall Street banks—but don't count on it."
Some expert observers were quick to voice concern that SVB's collapse is just the start of broader chaos in the financial industry and the overall economy.
Dennis Kelleher, the president of Better Markets, warned that the fall of SVB "is going to cause contagion and almost certainly more bank failures," noting that the Federal Reserve's rapid and large interest rate increases left many financial institutions without "time to reposition their balance sheets and portfolios."
"That's why SVB is just the beginning," Kelleher argued. "Contagion, likely more bank failures, and various bailouts are almost certainly coming. While the immediate financial stability threats will materialize or be addressed, the underlying fundamental problems caused in large part by the Fed will remain and likely get worse."
"The Fed's actions to fight increasing inflation will need to be materially adjusted, which it should be anyway because inflation is driven by many factors that are beyond the Fed's control," he said. "Causing financial instability and a recession (of any depth and length) while missing the mark on inflation should cause a fundamental rethinking of the Fed's powers, authorities, and role."
This story has been updated to include comments from Treasury Secretary Janet Yellen.
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US 'Imperial Anxieties' Mount Over China-Brokered Iran-Saudi Arabia Diplomatic Deal
One American intelligence expert urged the U.S. to maintain friendly relations with "barbarous, but long-standing allies" in the Middle East lest China fill the vacuum.
Mar 11, 2023
While advocates of peace and a multipolar world order welcomed Friday's China-brokered agreement reestablishing diplomatic relations between Iran and Saudi Arabia, U.S. press, pundits, and politicians expressed what one observer called "imperial anxieties" over the deal and growing Chinese influence in a region dominated by the United States for decades.
The deal struck between the two countries—which are fighting a proxy war in Yemen—to normalize relations after seven years of severance was hailed by Wang Yi, China's top diplomat, as "a victory of dialogue and peace."
The three nations said in a joint statement that the agreement is an "affirmation of the respect for the sovereignty of states and non-interference in internal affairs."
"The U.S. encourages war while China pushes the opposite."
Iran and Saudi Arabia "also expressed their appreciation and gratitude to the leadership and government of the People's Republic of China for hosting and sponsoring the talks, and the efforts it placed towards its success," the statement said.
United Nations spokesperson Stéphane Dujarric thanked China for its role in the deal, asserting in a statement that "good neighborly relations between Iran and Saudi Arabia are essential for the stability of the Gulf region."
Amy Hawthorne, deputy director for research at the Project on Middle East Democracy, a Washington, D.C.-based nonprofit group, toldThe New York Times that "China's prestigious accomplishment vaults it into a new league diplomatically and outshines anything the U.S. has been able to achieve in the region since [President Joe] Biden came to office."
Yun Sun, director of the China program at the Stimson Center, a think tank in Washington, D.C., called the deal a sign of "a battle of narratives for the future of the international order."
CNN's Tamara Qiblawi called the agreement "the start of a new era, with China front and center."
Meanwhile, Ahmed Aboudouh, a nonresident fellow at the Atlantic Council, another D.C. think tank, wrote that "China just left the U.S. with a bloody nose in the Gulf."
At the Carnegie Endowment, yet another think tank located in the nation's capital, senior fellow Aaron David Miller tweeted that the deal "boosts Beijing and legitimizes Tehran. It's a middle finger to Biden and a practical calculation of Saudi interests"
Some observers compared U.S. and Chinese policies and actions in the Middle East.
"The U.S. is supporting one side and suppressing the other, while China is trying to make both parties move closer," Wu Xinbo, dean of international studies at Fudan University in Shanghai, told the Times. "It is a different diplomatic paradigm."
Murtaza Hussein, a reporter for The Intercept,tweeted that the fact that the agreement "was mediated by China as a trusted outside party shows shortcomings of belligerent U.S. approach to the region."
While cautiously welcoming the agreement, Biden administration officials expressed skepticism that Iran would live up to its end of the bargain.
"This is not a regime that typically does honor its word, so we hope that they do," White House National Security Council Strategic Coordinator John Kirby told reporters on Friday—apparently without any sense of irony over the fact that the United States unilaterally abrogated the Iran nuclear deal during the Trump administration.
Kirby added that the Biden administration would "like to see this war in Yemen end," but he did not acknowledge U.S. support for the Saudi-led intervention in a civil war that's directly or indirectly killed nearly 400,000 people since 2014, according to United Nations humanitarian officials.
U.S relations with Saudi Arabia have been strained during the tenure of President Joe Biden. While Biden—who once vowed to make the repressive kingdom a "pariah" over the gruesome murder of journalist Jamal Khashoggi—has been willing to tolerate Saudi human rights abuses and war crimes, the president has expressed anger and frustration over the monarchy's decision to reduce oil production amid soaring U.S. gasoline prices and Russia's invasion of Ukraine.
Nevertheless, the Biden administration is currently trying to broker a peace deal between Saudi Arabia and Israel following the Trump administration's mediation of the Abraham Accords, a series of diplomatic normalization agreements between Israel and erstwhile enemies the United Arab Emirates and Bahrain.
The United States, which played a key role in overthrowing Iran's progressive government in a 1953 coup, has not had diplomatic relations with Tehran since shortly after the current Islamist regime overthrew the U.S.-backed monarchy that ruled with a brutal hand for 25 years following the coup.
Jonathan Panikoff, director of the Scowcroft Middle East Security Initiative in the Middle East Programs for the Atlantic Council, urged the U.S. to maintain friendly relations with brutal dictatorships in the region in order to prevent Chinese hegemony there.
Panikoff wrote in an Atlantic Council analysis:
We may now be seeing the emergence of China's political role in the region and it should be a warning to U.S. policymakers: Leave the Middle East and abandon ties with sometimes frustrating, even barbarous, but long-standing allies, and you'll simply be leaving a vacuum for China to fill. And make no mistake, a China-dominated Middle East would fundamentally undermine U.S. commercial, energy, and national security.
Other observers also worried about China's rising power in the Middle East and beyond.
New York Times China correspondent David Pierson wrote Saturday that China's role in the Iran-Saudi Arabia rapprochement shows Chinese President Xi Jinping's "ambition of offering an alternative to a U.S.-led world order."
According to Pierson:
The vision Mr. Xi has laid out is one that wrests power from Washington in favor of multilateralism and so-called noninterference, a word that China uses to argue that nations should not meddle in each other's internal affairs, by criticizing human rights abuses, for example.
The Saudi-Iran agreement reflects this vision. China's engagement in the region has for years been rooted in delivering mutual economic benefits and shunning Western ideals of liberalism that have complicated Washington’s ability to expand its presence in the Gulf.
Pierson noted Xi's Global Security Initiative, which seeks to promote "peaceful coexistence" in a multipolar world that eschews "unilateralism, bloc confrontation, and hegemonism" like U.S. invasions and the North Atlantic Treaty Organization.
"Some analysts say the initiative is essentially a bid to advance Chinese interests by displacing Washington as the world's policeman," wrote Pierson. "The plan calls for respect of countries' 'indivisible security,' a Soviet term used to argue against U.S.-led alliances on China's periphery."
The U.S. has attacked, invaded, or occupied more than 20 countries since 1950. During that same period, China has invaded two countries—India and Vietnam.
"The Chinese, who for years played only a secondary role in the region, have suddenly transformed themselves into the new power player."
New York Times chief White House correspondent Peter Baker also published an article Saturday about how the "China-brokered deal upends Mideast diplomacy and challenges [the] U.S."
"The Americans, who have been the central actors in the Middle East for the past three-quarters of a century, almost always the ones in the room where it happened, now find themselves on the sidelines during a moment of significant change," fretted Baker. "The Chinese, who for years played only a secondary role in the region, have suddenly transformed themselves into the new power player."
Some experts asserted that more peace in the Middle East would be a good thing, no matter who brokers it.
"While many in Washington will view China's emerging role as mediator in the Middle East as a threat, the reality is that a more stable Middle East where the Iranians and Saudis aren't at each other's throats also benefits the United States," tweeted Trita Parsi, executive vice president of the Washington, D.C.-based Quincy Institute for Responsible Statecraft.
"Unfortunately, the U.S. has adopted an approach to the region that has disabled it from becoming a credible mediator," he lamented. "Too often, Washington takes sides in conflicts and becomes a co-belligerent—as in Yemen—which then reduces its ability to play the role of peacemaker."
"Washington should avoid a scenario where regional players view America as an entrenched warmaker and China as a flexible peacemaker," Parsi cautioned.
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Denying Reports, White House Says 'No Final Decision' Yet on Willow Project
"Anyone who says there has been a final decision is wrong," said White House Press Secretary Karine Jean-Pierre, refuting media reports that the $8 billion "ticking carbon bomb" in Alaska would be imminently approved.
Mar 11, 2023
White House Press Secretary Karine Jean-Pierre on Friday denied reports that U.S. President Joe Biden would imminently approve the Willow Project, saying "no final decisions" have been made on the highly controversial $8 billion ConocoPhillips oil drilling endeavor in northern Alaska slammed by critics as a "climate catastrophe."
"Anyone who says there has been a final decision is wrong," Jean-Pierre told reporters Friday evening after outlets including Bloomberg, CNN, and The New York Timesreported that the Biden administration would green-light what would be the single-largest oil operation in the United States.
"President Biden is delivering on the most aggressive climate agenda of any U.S. president in history and spurring an unprecedented expansion of clean energy," the White House spokesperson added.
Republican U.S. Sen. Lisa Murkowski of Alaska—who supports the project—told the Times that she had not received notification of its approval.
"We are not celebrating yet, not with this White House," she said.
Climate campaigners, Indigenous groups, environmentalists, dozens of Democratic U.S. lawmakers, and others are vehemently opposed to what many have called a "ticking carbon bomb" and a "climate catastrophe."
The Biden administration's own assessment of the project acknowledges that it "would likely incur spills," and the Interior Department has expressed "substantial concerns" about the proposal.
According to the Sierra Club:
Willow is sited in a vast Arctic landscape that provides critical habitat for birds from all over the world as well as animals like the caribou that subsistence hunters rely on to feed their families and communities. Native communities, like Nuiquset, are already dealing with the consequences of oil development in the region, including deteriorating air quality and a spike in respiratory disorders. Last year, a well in Conoco's Alpine Field blew out, spewing methane into the air and endangering residents of Nuiquset. These risks are already here, and Willow only makes them worse.
On Friday, former U.S. Vice President Al Gore called the proposed project "recklessly irresponsible," adding that "we must end the expansion of oil, gas, and coal and embrace the abundant climate solutions at our fingertips."
Len Montgomery, public lands campaign director at Environment America, told Common Dreams via email that "we need our leaders to think long-term. Clean energy, not oil, is our future."
"Allowing a brand new Arctic oil project to break ground in one of our most sensitive ecosystems would be short-sighted," Montgomery argued. "This project will exacerbate climate change and will directly harm caribou and polar bears. We are inspired by the outpouring of opposition against this project from across the country and we will continue our efforts to prevent the chillers, the ice roads, and the well pads from ever encroaching on this pristine area."
Quannah Chasinghorse—a Han Gwich'In and Sicangu/Oglala Lakota land protector, climate justice activist, and fashion model from Eagle Village, Alaska and the tribes of South Dakota—wrote in a CNNopinion article Friday that "ConocoPhillips has claimed that the Willow Project could create thousands of construction jobs and hundreds of permanent ones, along with needed oil, but at what cost?"
"We must change the narrative that the land serves us and only exists so that we can extract resources from it."
"Make no mistake, it will not only be local communities, or even Alaskans, who will feel the negative climate impacts of this project," she continued. "According to an analysis from the Center for American Progress, developing and burning oil from the Willow Project would produce up to 287 million metric tons of carbon dioxide over the next 30 years. That's equal to the annual emissions of 76 coal power plants—a third of all coal plants in the United States."
"We must change the narrative that the land serves us and only exists so that we can extract resources from it," Chasinghorse asserted. "My elders tell me that if we take care of the land, the land will take care of us. We cannot live without healthy land. Not just us Gwich'in. All of us, everywhere"
"President Biden, stop the Willow Project," she added. "Stop climate chaos, before it's too late"
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