SolveClimate is looking for writers, please click here to learn more.
Cuomo: Are True Risks of Coal Being Hidden from Investors?
by David Sassoon - Sep 16th, 2007
Attorney General Andrew Cuomo of New York is using the long arm of the law to slow down the coal train. Using broad powers granted by the Martin Act of 1921, he's making sure energy companies are not misleading investors about the big risks of parking their money in new coal plants.
Cuomo is hitting AES Corporation, Dominion, Dynegy, Peabody Energy and Xcel Energy -- all with new coal plants in the works -- in the jugular, right where the money is. The letters Cuomo sent them had this to say:
Any one of the several new or likely regulatory initiatives for CO2 emissions from power plants — including state carbon controls, E.P.A.’s regulations under the Clean Air Act, or the enactment of federal global warming legislation — would add a significant cost to carbon-intensive coal generation.....Selective disclosure of favorable information or omission of unfavorable information concerning climate change is misleading.
No surprise the Wall Street Journal editorial page has called for the repeal of the Martin Act. It's a law that's got inconvenient tooth.
Bookmark/Search this post with:
test comment
i am testing the comment function on blog posts as a logged in user.
Post new comment