As if there wasn't enough money flowing into renewables (not that we're complaining), U.S. Representative Chris Van Hollen has recently introduced legislation that would establish a "Green Bank" to provide financing to clean energy and energy efficiency projects.

The proposal has picked up some decent support in Washington, and even T. Boone Pickens has chimed in. Here's what Pickens had to say about the plan...

"An alternative energy bank is a creative and needed way to jump start the private sector's involvement in renewable and other alternative energy projects. This money will be paid back and, at the same time, be a major down payment on our efforts to reduce our costly and dangerous dependence on foreign oil."

The proposed Green Bank would have an initial capitalization of $10 billion through the issuance of green bonds by the Treasury Department, with a maximum authorized limit of $50 billion in green bonds outstanding at any one time.

Meanwhile, in the world of fossil fuels, the EPA has recently warned the U.S. Army Corps of Engineers about possible water damage in two new surface coal mining operations in Kentucky and West Virginia.

According to EPA administrator, Lisa Jackson, the EPA has considerable concern regarding the environmental impact these projects would have on fragile habitats and streams. As a result, the agency is meeting with mining companies seeking permits and the corps to discuss ways in which they can better protect streams, wetlands and rivers. Jackson has also directed the EPA to review other mining permit requests, and stated that the EPA will use the best science and follow the letter of the law in ensuring we are protecting our environment.

Jeff