Coal power could be a risky investment -- according to none other than giant coal-power producer Dynegy Inc. After being subpoenaed by New York Attorney General Andrew Cuomo last year, Dynegy agreed Thursday to be forthcoming to shareholders about the risks that climate change could pose to their investment. Said Cuomo in announcing the deal, "You have to disclose the facts to the public. It's not just good public policy, it's the law." (Did anyone else note that barely suppressed "booyah"?) Dynegy owns power plants in 13 states and is one of the largest consumers of coal in the U.S. Under the agreement, it will analyze how business could be impacted by climate-related regulation and litigation -- not to mention climate change itself -- and explain what it plans to do about it all. Cuomo reached a similar agreement with Xcel Energy in August, and is pressuring three other energy companies to fess up as well.
source: Reuters, Associated Press, Bloomberg News, Dow Jones, Environmental Defense Fund
see also, in Gristmill: Dynegy targeted by Sierra Club in new anti-coal campaign
Comments
View as Threaded
archigeek Posted 10:31 pm
23 Oct 2008
Permalink
Zephaniah Posted 4:16 am
24 Oct 2008
Stimulate our economy? Let's stimulate it with hope by transitioning to clean power now.
We should provide jobs and training for a generation of workers in alternative energy production and installation. I want my taxes spent to put solar panels on roofs and parking lots of every government building, and to build solar, geothermal and wind power plants and new transmission lines across the nation.
We should not build more roads, encouraging our addiction to oil; instead we should manufacture and distribute electric buses and light rail systems for efficient, convenient and relaxing worker transportation.
State and local governments, especially those that have been dependent on fossil fuel industries would be revitalized by the new manufacturing and profit from a raised tax base.
Even schoolchildren know that burning coal, oil and natural gas is overheating the world and destroying resources and infrastructure. The predictions that scientists made a few decades ago about stronger storms, fires, droughts, floods, insect infestations and ice melt have come true much sooner than expected, and the speed of the warming is accelerating.
The American public is deeply worried about the climate crisis and crying for solutions. Many businesses have taken steps on their own, and even the fossil fuel companies advertise their willingness to make the transition to 21st century cool power.
An economic stimulus plan that transforms the sources of our nations power, would give us confidence that our government can protect us and give us a future full of hope.
Permalink
Yoyo Posted 1:05 am
30 Oct 2008
Permalink