Thursday, November 16, 2006

Much Much More Expesive Coal Plants

Hey! Is anybody out there paying attention? The CEO of Duke Energy just announced that the cost to build one of their coal fired power plants just increased by 50% - up one billion dollars! And the cost to build one of their ““clean”” coal plants almost doubled.

I'm no economist, but I would think that's bad for business. Yet, somehow, Duke Energy's stock is up... Oh... yeah... They don't have to pay the extra billion dollars... taxpayers and ratepayers do.

Guess what? When you try to rush through the construction of over a hundred coal fired power plants, you end up with a sellers' market. The CEO of Duke Energy put it well: “Part of the cost increases is just because (these firms) can do it right now.”

Did he mean “do it”... or do us?

Think about it. For an extra billion dollars, you could build a lot of windmills and solar panels.

My guess is that, if Congress doesn't pass another Energy Bill pork barrel giveaway (with billions in subsidies for coal) – the coal industry won't be competitive. You know, you can call me a dreamer, but my dream is that someday we pass an Energy Bill that gives subsidies to wind and solar instead.

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