6 Of 8 Energy Companies In Senate Testimony Favor Mandatory Carbon Caps

[hatrack]

EDIT

The Senate Energy and Natural Resources Committee heard statements from leaders representing eight big energy companies, including General Electric, Shell and the two largest owners of utilities in the United States, Exelon and Duke Energy. Six of the eight said they would either welcome or accept mandatory caps on their greenhouse-gas emissions. Wal-Mart too spoke in favor of carbon caps. The two outliers from the energy sector, Southern Company and American Electric Power, delivered pro forma bids for a voluntary rather than mandatory program, but they, too, broke with tradition by implicitly acknowledging that regulations may be coming, and offering detailed advice on how they should be designed.

Many industry players are increasingly concerned about the inconsistent patchwork of climate regulations that are being proposed and adopted throughout the country, from the Regional Greenhouse Gas Initiative that seven Northeastern states put forward in December to plans for greenhouse-gas caps unveiled in California this week. Worried companies say federal regulations would bring stability and sureness to the market.

"GE supports congressional action now," David Slump, the top marketing executive in GE's energy division, said at the hearing. "It is critical that we start now," said Elizabeth Moler, an executive vice president for Exelon. "We need the economic and regulatory certainty to invest in a low-carbon energy future."

Senate hearings rarely manage to draw a crowd of 60, but for this one some 300 members of Congress, lobbyists and advocates crammed themselves into the hearing room, according to Jonathan Black, a minority staffer on the energy committee, and more watched via a live webcast.

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http://www.salon.com/opinion/feature/2006/04/10/muckraker/

[Spinzonner]

1. Or, perhaps, that would make them easier and cheaper to lobby against

and/or water down

[ReaderSushi]

2. Not at all.

They can see the way the wind is blowing. They realize that global warming is real and legislation will be passed relativly soon. Have a set of limts to work with even strict ones gives them some guidelines.