TXU Buyers Concede to Environmentalist Pressure

You don't want to mess around in Texas when it comes to messing with our environment. I have a lot of friends who are concerned with the energy crisis, so receive articles every few weeks with on new data green energy, cleaner burning coal, wind power, and other alternatives to coal as a fuel source.

CNN reported that the investment buyers of Dallas-based TXU utility company conceded to pressures from environmental groups by scrapping plans for 8 coal-fired plants. According to the CNN article, As part of the deal, the private equity owners agreed to abandon plans for eight of 11 controversial coal-fired power plants that TXU previously had aggressively sought, winning support for the buyout from two major environmental groups - Environmental Defense and the National Resources Defense Council.

"The buyout and turnaround of TXU's position on global warming is an earthquake that happened in Texas, but shock waves are going to be felt from Wall Street to Washington," Dave Hawkins, director of the Natural Resource Defense Council's Climate Center, said on a conference call Monday afternoon. In addition to revising its coal plant strategy, TXU Corp. has pledged to support programs that regulate carbon emissions.

It should be noted that, although TXU is based in Texas, the 11 proposed coal-powered plants were not necessarily in this region and groups from across the nation came together to protest. My eco-smart friend Scott said, "In my opinion no more than 20% of Texas state electrical needs should be addressed by coal, 30% by natural gas, 20% by Wind, with biomass and other technologies making up the remainder."

I'll have to do more research on the issue since it is definitely a hot button for many. Read more about this issue online at: CNN Money.

Comments

[erin]

It's great to see that Texas is taking a stand on environmental issues. I really like your blog, I just found it today -- I'll be sure to add it to my blogroll.

[Dee Copeland]

I definitely like to see people take a stand for what they believe in. It's also very cool to start seeing Walstreet listen to what people are asking for. I always like to listen to both sides to every story, so want to research various options.

The wind-powered plants seem useful with the exception that birds hit them and die. This can be an issue too, but no solution is perfect. If anyone wants to submit articles on this or other topics, I'd love to read their view.