Utilities split on climate legislation

Utilities split on climate legislation

There are 3 comments on the MarketWatch story from Oct 17, 2009, titled Utilities split on climate legislation. In it, MarketWatch reports that:

The U.S. Chamber of Commerce has a rebellion on its hands, led by a handful of utilities that have broken with the powerful lobbying group over its stiff opposition to the war on global warming.

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frank miller

United States

#1 Oct 20, 2009
Well I think that Monday's desperate hoax by 'climate change disgenous activists' at the
National Press Club briefing, and I quote them:
" There is only one sound way to do business..and that's to support a climate change bill quickly to.." in essence pretending that the U.S. Chamber of Commerce had agreed to all the provisions in
the House's barely passed Waxman/Markey[D] Bill last Spring!!
In deference to real environmental activists like myself, and all my reasonable non-zero games GW/GC remedies which some Nations have already implemented over the last 3 years, what a fake conference like that can achieve? Pitting tremen-
dously utilitarian 'cheap' coal fossil fuel power
companies, who are only too willing to upgrade,
retrofit any tall stack equipment, reforest around
strip-mined areas, as the House Bill mandates only applies to NEW coal plants!
I realize that some owners of nuclear plants,
depend on 'cap-and-trades' to force some even new
state-of-the-art coal plants to forgo construction
and thus reap wind-fall profits! So what? There are no bipartisan 60 votes in the proposed Senate Boxer/Kerry Bill anyway! But now since the cap-and-trades, which would benefit Hedgefunds/Derivatives
who down bet on energy futures, has been taken off the table by Senator Boxer [D.CA], I hope in favor of voluntary Reforestation, which I believe Wisconsin has already accepted to do, and has thus attracted Republican Senator Lindsey Graham to join the Senate Bill, there may be a very atttractive December '09 Copenhagen Summit resolution which all the World will admire, as per my #20 post on the Topix thread": " U.S senator:{B.Boxer} global warming bill possible soon."
F.M.

frank miller

United States

#2 Oct 21, 2009
Continuation of my #1 post: This high rate of unemployement we have now, and the extensive uncontrolled outsourcing of 3 shifts a day
Manufacturing/Chemical Specialties Raw Materials
now imported from Pacific rim Nations, over the past 20 years make investors more concerned about near-term profits, translated into quartely dividents on the one hand, and day-traders gambling
on the futures OTC Market on the Internet as a substitute for good paying long term career/skil-
led labor force salarie and wages until they turn 66 whence they can retire with nest-eggs!
So long term growth over near-terms profits
is discouraged, and what appears to be an endemic
acquisitions by nuclear power companies, anticipa-
ting cap-and-trades short-term model benefits, and when the futures Market turns South by OPEC, and large natural energy reserves like Russia con-
trolled supplies, these acquisitions are dumped as distressed assets{we saw that in 2008 when the price of food corn normally at ~$2.86/bushell,
skyrocketed to around $8/bushell as more and more was converted to very energy intensive fermentation to E-85 fuel ethanol, and B4 the options at that price was hedged during the last quarter of 2008, as oil was speculated at $144/barrel {42 gallons in a barrel..with about $0.60 cents labor costs to extract it..was $0.12
cents/barrel in 1965..} price of corn went drastically down after food-prices became unmanageable in countries using it as staple
food, and live-stock feeds!! So now all these ethanol plants lost billions of dollars, and
Government subsidies are out of the questions, and we are importing E-85 flex fuel from Brazil, who cut/burn rain-forests to grow fermentable sugar
cane!!
So forsaking long term growth for near-term profits is an ever ending spiral of unstable
futures manipulation, rather than natural
supply and demand anomalies!!
F.M.
frank miller

United States

#3 Oct 21, 2009
Correction to my #2 post: "...it was $0.12 cents/barrel in 1975..}
F.M.

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