And---tusenfem, is it correct to say that while both the magnetic field energy (integral of B^2/ (2 mu0)) and the kinetic energy (sum of 1/2 mv^2) may be large, the electric field energy (integral of epsilon_0 E^2/2) is never, ever large in these plasmas?
True, it is the magnetic field that is driving the currents in the blob inductively through curl(B) ~ J and through the high mobility of the charges in the plasma any large scale electric field with quickly be negated. However, as I noted that there is Ohmic dissipation of the currents in the bubble, there is a dB/dt, which would lead to a curl(E), but as the time scales for this dissipation as so large, this E can well be neglected in the whole picture.
In the substorm that MM mentioned was a special case but has, indeed, nothing to do with a CME, that is the reconfiguration of the magnetotail after reconnection has started down the tail and the newly connected field lines shoot towards the Earth through the magnetic tension, thereby accelerating large amounts of plasma towards the Earth and setting up large current systems (see e.g. substorm current wedge) which drive Birkeland currents to the ionosphere and atmosphere, which create the aurora. Through the cameras that are all over Canada and Alaska we can estimate the power dissipated by looking at the aurora emissions.
This, unfortunately, is a rather convoluted press release again as they first talk about substorms and then suddenly about "magnetic ropes" making a direct connection between the Earth's "atmosphere" and the Sun. Later Dave Sibeck corrects this and talks about the "magnetopause" which makes a lot more sense than "atmosphere". But note, the rope that was seen by Themis was in May, whereas the event discussed by Angelopoulos was in March.
I think Vassilis and Dave would be well advised to actually READ what the press agency is putting on the web BEFORE it gets put on the web.