Wednesday, October 10, 2007

American Electric Power...

...reaches "agreement" with various environmental groups regarding Clean Air Act provisions.

AEP reaches settlement agreement in NSR case

American Electric Power faces the acid rain music

This editorial from the CEO of NRG Energy is interesting. Clearly, he has a vested interest since NRG is filing permits for the construction of new nuclear reactors in Texas.

We're Carboholics. Make Us Stop from the Washington Post 10/15/07.
An excerpt:
A federal cap-and-trade system would push the power and coal industries toward deployment of CO2 capture and sequestration technology, which is essential to reducing our domestic emissions and, ultimately, to weaning China and the rest of the fast-growing (and emitting) developing world off traditional coal technology. Effective incentives for these new technologies could easily and readily be included in cap-and-trade regimen. Lawmakers need to provide both the carrot and the stick to get the CO2 out of coal.
I disagree, a policy toward CO2 reduction would be more effective as a tax. Corporations should pay for what they produce. A cap would provide a limit, yes, and the buying and selling of credits would create a market and help reduce emissions, but only to a point. The cap would need to be reduced over time. A tax would provide an ongoing incentive for companies to continue reducing emissions. Of course, the word tax carries a lot of baggage.

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