Posted on 02/12/2008 11:06:00 PM PST by red flanker
(Crains) Calling for a political consensus on global warming, Exelon Corp. CEO John Rowe says fixing the problem will require the power industry to invest at least $400 billion in new generating facilities and win greater public acceptance of new power plants, including nuclear ones.
The real inconvenient truth of climate change is that addressing it wont be cheap, Mr. Rowe, referring to former Vice-president Al Gores film about global warming, said Tuesday in a speech billed as a major policy address at the Brookings Institution, a think tank in Washington, D.C.
He expressed support for legislation pending on Capitol Hill that would reduce greenhouse gas emissions by 2030 to about 30% below 2005 levels. But, at minimum, using market-based approaches and more nuclear power, electricity prices would rise three cents to five cents per kilowatt hour to meet that goal, predicts the CEO of Chicago-based Exelon, one of the nations largest electric utility holding companies.
By comparison, the national average retail price of electricity was about 10.3 cents per kilowatt hour in 2006, according to the latest Energy Department statistics.
Mr. Rowe is calling for a cap-and-trade system, as proposed in several bills pending in Congress, to limit greenhouse gases through the buying and selling of carbon emission permits. In addition, he says the government should mandate stricter energy-efficiency standards and spend more on clean energy research and loan guarantees for building new nuclear power plants, as Exelon has proposed for Texas.
Efficiency is a pillar of climate-change remedies, he said. Another pillar is likely to be nuclear.
(Excerpt) Read more at chicagobusiness.com ...
The only way for nuclear power to reassert itself is through the back door. If it takes this junk climate science to diversify our energy sources, so be it (China’s already pushing full speed ahead with new Freanch-designed plant projects.)
Once we adopt these GW strategies the main effect will be the creation of government protected monopolies in power generation and many other industries. The goals of companies will be oriented far more toward satisfying bureacrats rather than customers than they are today.
Once we adopt these GW strategies the main effect will be the creation of government protected monopolies in power generation and many other industries. The goals of companies will be oriented far more toward satisfying bureaucrats rather than customers than they are today.
Obama has now backed off of his support for nuke power until, “storage and waste problems can be solved.” In other words, he caved to the far left.
This whole fraud/hoax will be looked back on in 5 years and many will be stunned how so many seemingly intelligent people went completely brainless.
Of course there are the evil people who know that this is a fraud...
The funny part will be we may be shivering in the dark as a new Maunder Minimum turns off the Sun, while our Greens turn off our power....
Amen. The utility companies are seeing the $$ signs and jumping on the bandwagon. While I’m all for expansion of nuclear energy, the carbon credit idea is pure crap that will be foisted on the consumer. I’m not sure what we can do about it, other than install a home solar collector at a huge expense.
in 5 years there will be new government regulations to compensate for the misdirection of the Global Warming measures.
Exelon gives more to the Democrats than to the Republicans:
http://www.cjr.org/campaign_desk/obamas_energy_equivocations.php
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