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Microcap & Penny Stocks : Rentech(RTK) - gas-to-liquids and cleaner fuel -- Ignore unavailable to you. Want to Upgrade?

To: Emec who wrote (11179)	10/23/1998 8:03:00 AM
From: Charles T. Russell	Read Replies (1) \| Respond to of 14347

Here is the full story about the diesel from CNNFN.. Nothing at all to do with RNTK.. unless they start making diesel engines. NEW YORK (CNNfn) - In the largest enforcement action in the history of the Clean Air Act, the U.S. federal government on Thursday slapped a $1 billion fine on seven of the largest manufacturers of heavy-duty diesel engines for violating basic environmental standards. In a landmark settlement, the Department of Justice and the Environmental Protection Agency said the manufacturers, who represent 95 percent of the U.S. heavy diesel market, had agreed to spend more than $1 billion to build cleaner engines to reduce future pollution from diesel trucks, a prime source of smog and acid rain. "The diesel engine industry has illegally poured millions of tons of pollution into the air," U.S. Attorney General Janet Reno said at a news conference Thursday. "It's time for the industry to clean up its act, and it's time for it to clean up the air." Attorneys for the EPA and Justice Department had threatened to haul the engine makers into court if they refused to sign the settlement. The settlement included a $83.4 million civil penalty -- the largest ever. A quarter of that penalty will go to the state of California, which has a related settlement with the engine companies. The manufacturers now will be expected to offset the illegal emissions from as many as 1.3 million trucks that the government alleged were designed to evade pollution standards. Spewing out illegal toxins Seven companies are named in the settlement: Cummins (CUM), Detroit Diesel Corp. (DDC), Mack Trucks, Navistar International Transportation Co. (NAV), Caterpillar (CAT), Renault and Volvo(VOLVY). Each engine maker will be required to pay another $1 billion to introduce cleaner engines. The engines under scrutiny are presumed to be spewing out toxic levels of nitrogen oxides, which causes smog and can lead to lung damage. Pollution from trucks and cars accounts for about half of all air pollution in the United States. The EPA alleges that diesel-engine manufacturers manipulated the computer controls within their engines to keep pollutants low during emissions inspections. On the open road, however, the device is believed to maximize engine efficiency and allow pollutants to soar -- some up to twice the legal limit. For its part, Cummins disputes the allegations, saying its level of nitrogen oxide emissions are within legal limits. The company acknowledged in its latest quarterly financial statement, however, that a resolution with the EPA could have an adverse effect on its future financial results. Until the 1990s, diesel trucks were exempt from the emissions standards imposed on cars and other passenger vehicles. But the potential pollution hazard posed by diesels has steadily grown over the years, leading to increasing calls by environmental groups to subject the truck industry to more stringent controls. Under Thursday's settlement, the companies agreed to spend at least $850 million to introduce cleaner engines, rebuild older engines to make them cleaner, and recall pick-up trucks that have "defeat devices" installed. These devices are designed to allow engines to meet emissions standards during testing, but then modify their pollution control mechanisms when a truck is in actual highway conditions. The manufacturers also will spend an additional $109.5 million on projects to cut nitrous oxide emissions, including research and development. As a result of the settlement, Reno said, engine emissions from diesels will be reduced by one-third from their current level over five years.