Latest In

Breaking News

Environmentalist Criticizes Utility-Only Negotiations

Not every environmental group is encouraged by the efforts to come to a consensus with the electric industry on a utility-only cap on emissions. One

Jul 31, 2020
13K Shares
1.1M Views
Not every environmental group is encouraged by the efforts to come to a consensus with the electric industry on a utility-only cap on emissions. One environmentalist source told TWI that negotiations with electric utilities will inevitably result in a “flawed product” based on too many compromises. “I’m just not confident that this is a winning strategy,” the source said.
Sen. John Kerry (D-Mass.), who co-authored a climate change bill with Sen. Joe Lieberman (I-Conn.) and is also circulating a scaled-down version of the proposal this week, has “done a terrible job of managing the process,” the source continues, adding, “We’ve seen a really failed strategy championed by Kerry to try to get a climate bill that just hasn’t built the momentum necessary to pass.”
The source predicts that the utility-only negotiations will fail, an energy bill with a renewable energy standard will pass and Congress will consider next year a proposal by Sens. Maria Cantwell (D-Wash.) and Susan Collins (R-Maine) that would cap carbon emissions and return revenues back to Americans.
Bradford Plumer has a smart roundupof some of the concessions industry is calling for in exchange for their support for a utility-only bill:
Utilities may agree to the proposal, but not without extracting some heavy concessions. And what they’re demanding could turn the bill into a disaster. According to Politico, utilities would support a cap ifthey get relief from various EPA regulations governing a whole swath of different pollutants—not just heat-trapping gases like carbon-dioxide, but also sulfur-dioxide (which causes acid rain), and harmful emissions like mercury and nitrogen oxide.
But Plumer notes that environmental groups are only willing to concede so much:
[E]nvironmental groups seem to be opposed to the utility deal at the moment. A lot of greens have been pushing for cap-and-trade for a long time, and it would be a major victory for them if they got it this year, but it seems that even the groups most committed to compromise can see that this trade-off just isn’t worth it.
Camilo Wood

Camilo Wood

Reviewer
Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing. Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers. Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
Latest Articles
Popular Articles