Aubrey is putting a stick in TXU's spokes regarding the new coal plants in Texas (See Daily Oklahoman article below). You don't suppose that he is trying to pimp up the NG market do you??? I have related how I got squewered on Calpine - a big builder/operator of CCGT plants. Its CEO, Pete Cartwright, kept saying that the US would not build more nukes or coal plants - environmental concerns. Pete was right. Its just that he borrowed a little too much and was a little too early. In general it is better to be an owner of energy in the ground than an owner of gear which converts energy - power plants, refineries, CTL, GTL, etc. Someone can build a machine right next to you or infringe your patent rights. Its hard to build new NG in the ground, and the existing stock will get sold sooner or later.
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Cleaning up - Texas businesses air their concerns
Oklahoman Editorial
THERE is talk in Texas of building 16 power plants to meet growing electricity needs, and fast-tracking the permitting process for a number of coal-fired plants. The proposal is meeting considerable resistance not just from the sorts of groups one might expect, but also from the business community.
Texas Business for Clean Air, a coalition of more than 30 business and industry leaders, recently used space on The Dallas Morning News op-ed page to argue for a temporary moratorium on the permitting process. Those involved include publishers, real estate moguls, life insurance executives and energy barons (Aubrey McClendon of Oklahoma City-based Chesapeake Energy Corp. is a coalition member).
Their concern is the potential impact that coal-powered plants, the largest of which would be near Dallas-Fort Worth, would have on the region’s air quality. The coalition requested that the Texas legislature look at other available energy technologies, such as “clean coal.” It urged a look at conservation strategies and various ways to deal with peak demand issues, and suggested that officials study the cumulative impact on air quality of building several coalfired plants.
“We firmly believe that not only our health and the health of our children and grandchildren but also the economic vitality of our own businesses depend upon our ability to foster technologies that promote efficiency and minimize harmful emissions,” the group wrote. “There is no conflict between promoting clean air and business interests, but rather a natural alliance for the long-term health and economic benefit that clean air will bring to Texas.”
And to Oklahoma, as the prevailing south winds have long pushed air contaminants across the Red River into southern Oklahoma and even to Oklahoma City and beyond. Just this week, Oklahoma City officials announced their plan to take a proactive approach to keeping our air clean enough to avoid federal penalties that can be levied against cities with too-high ozone levels.
Residents here stand to benefit by the clean-air movement to our south. Time will tell if this effort by the Texas business community produces a result that serves all parties well.
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