Energy Hypocrisy & Rent Seeking
The three utility giants have made news recently by quitting the U.S. Chamber of Commerce. Their finer sensibilities, they explained, would no longer allow them to associate with an organization lacking in environmental fervor. How dare the Chamber demand the Environmental Protection Agency be transparent about the science it is relying on to regulate all carbon energy use. Heresy! "As a company with a clear and strong position on the importance of addressing climate change," we must go our own way, lamented PG&E's CEO Peter Darbee.Read it all.
Fortunately for Mr. Darbee, that way leads to the bank. As much as supporters of cap and tax would like to spin this as a new corporate ethic, the reality is less edifying. The lesson here is that big business political rent-seeking is alive and thriving.
The country's in the very best of hands.