Movement on Texas Coal Fired Power Plants.

Byoliveridley

There’s been some progress on the coal fired power plants I had railed on about recently.
In Big Buyout, Utility to Limit New Coal Plants – New York Times

Under a proposed $45 billion buyout by a team of private equity firms, the TXU Corporation, a Texas utility that has long been the bane of environmental groups, will abandon plans to build 8 of 11 coal plants and commit to a broad menu of environmental measures, according to people involved in the negotiations. The roster of commitments came through an unusual process in which the equity firms asked two prominent environmental groups what measures could be taken to win their support. The result is an about-face from the company’s earlier approach to climate-change issues, and includes a goal of returning the carbon-dioxide emissions by TXU to 1990 levels by 2020. Environmental groups said yesterday that they had never known of a financial deal with such an ambitious built-in environmental component.

Better than nothing. This is good news for sure. But as I mentioned previously, the Sanders (Good ol’ socialist!) Bill calls for an 80% reduction from 1990 levels by 2050. This is required to cap CO2 levels at 450 ppm and avoid the worst effects of global warming. So, while reducing CO2 to 1990 levels sounds impressive in a breathlessly written NY Times article. It is not nearly enough. This is exactly what I was afraid of when I mentioned the moratorium word! In the absence of regulation, or a clear policy, private equity companies, power plants, and other plutocrats are setting the US global warming agenda. They are establishing the floor plan, meaning, we’ll set the bar near the floor and not budge. Yes, I know, the NRDC and Environmental Defense were involved, and this part is definitely good…

TXU will discard plans to build eight of 11 proposed new coal plants, which would have been major new sources of emissions. Those plants — which would have added more than 9,000 megawatts of new capacity, the equivalent of 3.5 percent of the nation’s current coal-fired power — had been part of a planned $10 billion expansion of coal-fired electricity.

TXU, which is based in Dallas, also intends to expand the renewable energy portion of its portfolio and reduce or offset its emissions significantly, said people who were familiar with the plans.

All very good, but as I talked about previously (man, way too much self reference, not a good thing!), a book called Reality Check just out assesses voluntary actions by various companies in the US, Europe and Japan and comes to the following conclusion:

Most of the programs it studies have positive results, but they are
small compared with business-as-usual trends and the impact of other
forces–such as higher energy prices. Importantly, potential gains may
be quickly exhausted as the “low-hanging fruit” is picked up by
voluntary programs.

Now tell me that this agreement does not fit this frame!

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    Duke Energy and Cliffside

    Byoliveridley

    NC Warn produces a good cheatsheet on Duke Energy‘s deceptions about the Cliffside coal fired power plant.

    For more than a year, Duke Energy has tried to sell the idea that building a large coal-fired power plant near Charlotte would somehow be “good for the environment.” Following the January 29th state approval for construction to begin, the deception increased. By masking the new unit’s pollution behind upgrades already required by state law at an existing Cliffside furnace – and the retirement of four very small units that sit idle most of the time – Duke has misled the public, media and elected leaders into thinking that building a new unit will reduce a range of harmful emissions.

    GreenscamAlert-AMythFactHandout

    To summarize, CO2 emissions are set to increase significantly (factor of 12) if this plant is approved. So, in my book, this is a loser project that does not deserve even consideration. The facts are simple. This country is less than two years away from putting a price on carbon through some kind of carbon cap-trade scheme. All three major candidates for president support some kind of scheme, though McCain does not seem to know if the legislation he supports has an emissions cap or not (typical of him, he does not have any policy expertise or attention to detail whatsoever). So, the ground rules on what constitutes a cost effective option and what represents a major money making boondoggle are going to change very soon. Our state officials, thanks to the miracle of the internets, have all the knowledge to make a decision based on a reality that is coming soon. So, their reluctance to consider CO2 is puzzlingly short sighted. Duke Energy has some vague promises to sequester the carbon. But the fact of the matter is that the technology does not exist, and there’s no guarantee that it will exist any time soon in any cost effective fashion.

    Even if you’re a big believer in the technology advances that will no doubt occur into the future, you have to admit that carbon emissions cannot be free any more. So, unless the federal government puts a price on the carbon, you cannot objectively support a project that will give these emissions away for free. Don’t tell me that Duke Energy will have to pay for the carbon it emits from Cliffside. It may have to, but it will pas all costs along to consumers and win anyway. So the tax payers of North Carolina are stuck with an expensive, dinosaur technology power generating option that is incredibly polluting for years to come. All because the state officials did not have the foresight to wait a year or two.

    You can make the same argument for mercury. The current EPA “plan” for mercury is in tatters as it violates the clean air act. A change in administration (no McCain this time, only Clinton or Obama) is no doubt going to cause a tightening of mercury rules, a long overdue prospect. Why would the state approve a plan that would result in an increase in mercury emissions knowing fully well that federal regulation in this matter is unsettled? What ever happened to the conservative wait and watch approach?

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