Beam me to Planet Gore !
Posted on 10/08/2009 8:34:48 AM PDT by Morgana
The President of American Electric Power says cap and trade will eventually drive up the price of electricity, but Mike Morris says it's a necessary step for the United States and countries around the world when it comes to dealing with climate change.
"We think that it's probably the best way to go about addressing the issue of global warming and I underline the phrase 'global warming' because, at the end of the day, that's the challenge," Morris said on Wednesday's MetroNews Talkline.
The U.S. House of Representatives has already approved the massive climate change bill that is now being considered in the U.S. Senate.
"We are trying to get the very best piece of legislation that we can which gives us an opportunity to move forward and do it," he says of the ongoing cap and trade debate.
If the cap and trade provision is approved as part of the bill, the federal government will bring down the amount of carbon released into the atmosphere gradually over time by issuing credits.
Companies that produce more carbon than allowed will have to buy more credits. Those that have not used all of their carbon allowances can sell their remaining credits.
Morris says global warming is real and cap and trade is the best option being considered to address it.
However, he says, it is an option that will cost you more.
"The cost of electricity is going to go up to address this issue of global warming," Morris says. "It's a technology challenge and the technology is being developed." AEP is currently testing out a carbon sequestration project at the Mountaineer Plant in New Haven.
Morris says in order to have an impact on the climate, though, it cannot be just the United States making these changes. If the U.S. stands alone, Morris says it will only be the U.S. economy that'll be impacted.
"Clean coal is going to be as cheap or cheaper than any of the alternatives that you continue to hear people talk about."
American Electric Power serves five million customers in eleven states. It is the largest coal powered utility in the United States.
Of course they support it. Think of the offsets, subsidies and credits they get.
Billions of our dollars!
Just like the big pharmaceuticals getting on board with Obamacare, be in on the deal making and you can get the best breaks.
As long as he can passed the bill up to someone else and there isn’t money out of his own pockets, what does he care!
They will pass along the "hike" to consumers.
We must say "Nyet" to this damned socialist agenda. There is NOTHING that changing the thermostat will do to "prevent global climate change". There is NOTHING that getting rid of incandescent light bulbs will do to "prevent global climate change".
Limiting my personal liberty in the name of the Al Gore Earth God myth is a radical imposition.
Phenomenal idiocy abounding in every corner of this country.
Think of the increased revenues and no option other than to pay them. Less competition, government enacted monopoly!
Oh I am sorry....I forgot....the world has gone mad......
A public utility will make the same amount of money unless people quit using the grid’s electricity completely. If AEP’s customers put solar panels on every rooftop and got half of their electricity that way, AEP would cry to its states’ public utility commissions for rate increases and would likely get them. If carbon taxes go through the roof and people use less electricity, then AEP will end up with the same profit for selling less electricity and not having to build new plants, buy as much coal or string as many electrical wires.
Cap and Trade (Tax) will have zero impact on CO2 emissions. In fact, it will increase them worldwide as carbon producing industries in the USA shut down and move to China where no restrictions exist and the labor is a lot cheaper.
Nobody will reduce emissions and in some instances, they even can’t. All that will happen is that they will buy carbon credits from others and pass along the cost to the consumer. This AEP clown knows that when he raises his prices, it will be a little bit more than enough to cover the cost, and he and friends will reap an extra bit of profit.
AEP gets some sweetheart deals from The One’s cronies and gets some input on the bill, thus giving them a competitive advantage if it’s enacted. It’s nothing more than a typical CEO selling out his principles for the bottom line...and hoping the crocodile will eat him last.
}:-)4
The Bolsheviks are everywhere, lurking and waiting to rob us blind.
It’s blatant bribery of power company CEOs - support the legislation for the promise of big bucks for “green projects. He ain’t the first.
The Left has done a masterful job of destroying truth.
Yep. Obama’s team makes sure to buy off the major players, as with healthcare, and per usual government regulation is good for the big established players, bad for competition and customers.
“They will pass along the “hike” to consumers.”
Then we will go down and apply for “LEIP” at least that is what it is called in WV....when you need help paying your electricity bill in WV. I just can’t wait till that is up......food stamps are already up.......
I support buying more ammo every time you read an article like this.
>> They will pass along the “hike” to consumers. <<
Absolutely. That’s the way it always works with a “public utility” that’s regulated by the state utility commissions so as to guarantee the rate of return on invested capital.
Not necessarily a good system, but we’re probably stuck with it — come hell or high water.
He needs to be on the good side of the democrats on this, because he needs to be in the room so they don’t throw clean coal under the bus, which would ruin his company.
“we think this is probably the best way to go about soaking the public out of cash and crashing the country
they are using our tax dollars to kill us....we cant afford any of this
Washington has their ear too I am sure.
Right. Where’s my share of carbon credits? I think I want to start an energy company.
why wouldn’t he? It gives him the perfect opportunity to raise rates as high as he wants and yet shift the blame onto somebody else.
This just shows that the fascist socialists are every where.
I understand your frustration, but be careful about saying things like that online. This fellow probably represents a power company that can shoulder the cost of compliance with this law or pass on the costs to people like us. He doesn’t give a rat’s rear about small businesses or anyone else who’s threatened by this bill. Chances are the Democrats have been breathing down his neck to get behind cap and trade or else become a victim of some other bills they could pass that he wouldn’t like. There was a WSJ article predicting this would happen a week or so ago. A government powerful enough to give you everything you want is powerful enough to take it all away.
they’re trying to make a deal with the feds that will allow them to continue to operate...and looking for fed funding of “clean coal”.
it’s all to create a new derivatives scam..all USA does anymore is casino-capitalism
They just pass the costs on to the consumer and make a little more profit. Why wouldn’t they be for it? After a lot of comsumer complaints, Obama will just take over the utility companies.
Right, and it's exactly how the Feds and Clapafornia suckered the auto manufacturers, tempt them wit a monopoly that the government will protect rather than break.
Of course what the Marxist don't tell 'em is that eventually the people can't or just won't pay, then the power company goes the way of GM and Chrysler, and guess who gets the shaft.
We are on the verge of an economic meltdown of colossal size, historic. It will make the Great Depression look nice and calm. And they want to do this? crazy.
Although, of course, the Dems can't be trusted to "stay bought" -- hey'll probably end up under the bus anyway (just ask Ken Lewis)! What's that old saying? "He who sups with the devil must use a long spoon"!
If this Cap and Trade passes, I propose that the energy companies be required to provide a very detailed bill. Showing the amount of power used at what rate (usually negotitated as they are a regulated company) and the taxes listed seperately so the consumers can plainly see exactly how much it is really costing them.
Follow the money on this one, folks. The goofies are just window-dressing (save the snails, save the Furbian Lousewart, etc.)
PLUS, they will be able to double their electric rates (AEP), and blame it on "cost of compliance".
Watch and see....candle futures are sky-rocketing!
Translation: “If I fight it the board will remove me, so I’ll go along with it, get paid through the nose and the fact the electric customers will get screwed isn’t an issue for me.”
If anyone is surprised they don’t know how utilities charge...as monopolies they apply a guaranteed profit margin to costs and the consumers pay the bill.
***Anyone to form a lynch mob? ***
Go ahead. I retired from there last year and am completely separated from the copmpany.
Interesting notes...When John Turk built a coal fired power plant in Arkansas back in 1977, the Arkansas clean air rules were so strong that he swore to us he would NEVER build another coal plant in Arkansas.
Now there is a plant being built just east of Texarkana, Arkansas named...The John Turk power plant. But there is good news. It will be state of the art and built by B&W, Bejing, China division! John Turk always built his plants on the cheap using way outdated equipment, put “The Plant Manager From Hell” over it, then understaffed them to the max.
The plant built in 1977 is now down to completely update it with the most modern equipment. But to be fair, the old plant did not pollute as near as the environmentalists feared. They have a nice Eagle Watch area that has lots of bald eagles come in each year and their unused property is a deer and wildlife factory. I get the spillover deer! ;-)
There are several Freepers who work there.
Ping to my friends
I wish we could get off the grid completely.
Obama will screw EVERYONE in the end, and when he does I don’t want to hear one whiney word coming from the energy companies, pharmaceuticals, or anyone else he paid off.
The head of AEP is NOT one of those deceived; he is a deceiver, one of the elite willing to sell out the American people to line his own pockets and acquire more power at your expense.
Never heard of AEP, should I have?
Anyway, a lot of utilities were bought off by various Democrats. They promised companies like Pacific Gas & Electric and Exelon billions in taxpayer funded graft to support the bill.
I cannot believe these idiots would support their own lynching.....
.....The enviro-mental movement is not about stopping CO2 or saving the planet. Carbon sequestering will not be allowed in the end. After all, it's about killing all mining, drilling, burning, and the economy.
It's too bad the utility companies didn't learn from their own unions.....
.....band together and beat the "enemy".
This crap where they get in bed with the devil hoping he burns them last is suicide. Nobody wins in the end. I guess that is what you get when your management can't see past the next quarter. Whatever happened to management that aggressively thinks long term?
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