By Steve Milloy ——Bio and Archives--July 14, 2009
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We are offering you securities in a company… whose value rises rather than declines as carbon is priced into the marketplace…Ironically, both Exelon and NRG are members of USCAP, the industry-environmentalist coalition lobbying for greenhouse gas regulation. So not only will Waxman-Markey cut into fossil fuel-based NRG’s profits, it may very well mean the end of the company. It makes you wonder what NRG CEO David Crane was thinking when he joined USCAP. If he thought that it’s better-to-be-at-the-table-than-on-the-menu, he was wrong since now he has two problems (carbon regulation and takeover) instead of one or even none. BTW, if you want to see which regions of the country will be paying more for electricity thanks to David Crane’s bad judgment, click here for a list of NRG’s generation facilities in Texas, the Northeast, South and Southern California.
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Steve Milloy publishes JunkScience.com and GreenHellBlog.com and is the author of Green Hell: How Environmentalists Plan to Control Your Life and What You Can Do to Stop Them