Social Investing: Hamstringing the Environmental Movement
By S.R. Nunnally
In this article
The bill would provide $315 million over the next two years to further the Department of Energy's work in carbon sequestering.
Coal generates more than half our electricity demand.
We can't suddenly shut off 600 coal-fired power plants and wait for solar and wind power generation to catch up.
Social Investing: Hamstringing the Environmental Movement
I've about had it up to my eyeballs with certain environmental watch groups…
I'm talking about the protestors who trump up bird deaths due to wind turbines playing directly into the hands of the NIMBY (not in my backyard) folks and no cleaner electricity is produced from a sustainable, renewable source…
And the folks still picketing nuclear energy despite the fact that it has zero carbon emission and is one of the safest ways to generate energy…
And today, I'm talking about the folks pooh-poohing the latest carbon sequestering legislation being talked about in Congress.
The bill would provide $315 million over the next two years to further the Department of Energy's work in carbon sequestering -- capturing carbon from coal-fired power plants and storing it underground.
A MarketWatch.com article notes, “So it appears that the Senate is becoming greener. Not so fast, say critics, such as Tyson Slocum of the watchdog group Public Citizen. The bill introduced last week by the Energy Committee's most senior members `just shows the broad political support for coal,' he says, adding that people should be wary of Congress handing subsidies for a new revival of coal, when there are plenty of other clean fuel sources to fund.”
Social Investing: “That's a Start.”
True, there are other good uses for $315 million, but what about the 600 coal-fired power plants continuing to spew out carbon dioxide and other harmful gases and particles?
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What about coal continuing to generate more than half our electricity demand?
It's all well and good to think about -- and fund -- new and cleaner renewable sources of energy, but what do we do in the meantime?
Those of you who read my column know I support green initiatives, and it's not just because they're good for the economy. I am, I admit, a tree-hugger. But I'm also a realist.
We can't suddenly shut off 600 coal-fired power plants and wait for solar and wind power generation to catch up.
So instead of picking about a bipartisan bill that sets out to support environmental initiatives, how about we say, “That's a start…”
Until then, we're just shooting ourselves in the foot.
***
S.R. Nunnally is a commodities expert and technical analyst for Taipan Financial News. She is the editor of Material Profits, a monthly newsletter providing in-depth, cutting-edge research in the commodities sector. She is also the founder of Material Profits Wildcatter, employing an elite group of aggressive investment strategies.
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Related Resources
Energy: The Senate Going Green? - MarketWatch.com
Energy Program: Promoting a sustainable energy future. - Public Citizen
Environmental News: Gore takes heat in D.C. return. - Yahoo!News