December 7, 2014 am.
I just read a very long New York Times report about the relationships between America’s fossil fuel companies and Republican states’ attorneys general that helps demonstrate how energy companies, both material producing and service providing, are central to America’s political and economic results.
An interesting side issue in this article about Republican states’ attorneys general and the fossil fuel companies is a reference to TransCanada Pipeline’s (promoter of the currently stalled by Obama (Democrat), Keystone pipeline transporting Canadian tar sands oil to America) relationship with a former state attorney general.
…Among them was Andrew P. Miller, a patrician 81-year-old former Virginia attorney general. Mr. Miller is a regular at gatherings of state attorneys general at resort destinations, and his client list includes TransCanada, the backer of the Keystone XL pipeline; the Southern Company, the Georgia-based electric utility, which has a large number of coal-burning power plants; and the investor group behind the proposed Pebble Mine in Alaska…
(re-blogging the re-blog)
October 4, 2014(re-blog)
April 30, 2014
“Exelon to become top U.S. power distributor with Pepco buy”
…Weak power prices and consumption have spurred consolidation among utilities in the past three years, with Exelon itself having bought Constellation Energy for $7.9 billion in 2011. Duke Energy and AES Corp have also made acquisitions.
Exelon said it expected Pepco to “significantly” add to adjusted earnings in the first full year after the deal closed.
The company also reported a lower-than-expected profit for the first quarter, hurt by weak energy prices and a fall in nuclear and coal output.
Barclays, Goldman Sachs & Co and Loop Capital Markets are Exelon’s financial advisers. Kirkland & Ellis LLP is its legal counsel…
In a March 8, 2012 article Amy Goodman of Guardian co. U.K. describes the administration’s cozy relationship with Exelon and the nuclear industry despite the March 11, 2011 Japanese earthquake, and law suits against NRC for allowing the Southern Company to build reactors as if the Japan disaster had never happened.
Big Nuclear’s cosy relationship with the Obama administration One year on from Fukushima, the US is rewarding the nuclear energy lobby by underwriting new investment , regardless of risk… While campaigning for president in 2008, Barack Obama promised that nuclear power would remain part of the US’s “energy mix”. His chief adviser, David Axelrod, had consulted in the past for Illinois energy company ComEd, a subsidiary of Exelon, a major nuclear-energy producer. Obama’s former chief of staff Rahm Emanuel played a key role in the formation of Exelon. In the past four years, Exelon employees have contributed more than $244,000 to the Obama campaign , and that is not counting any soft-money contributions to PACs, or direct, corporate contributions to the new Super Pacs. Lamented by many for breaking key campaign promises (like closing Guantï¿½mo, or accepting Super Pac money), President Obama is fulfilling his promise to push nuclear power. That is why several groups sued the Nuclear Regulatory Commission last month. The NRC granted approval to the Southern Company to build the new reactors at the Vogtle plant despite a no vote from the NRC chair, Gregory Jaczko. He objected to the licenses over the absence of guarantees to implement recommendations made following the Japanese disaster. Jaczko said, “I cannot support issuing this license as if Fukushima never happened.”…
“the president’s utility”
And in August 22, 2012 New York Times reports the view that Exelon Corporation, the nuclear power producer is “the president’s utility”:
WASHINGTON – Early in the Obama administration, a lobbyist for the Illinois-based energy producer Exelon Corporation proudly called it “the president’s utility.” And it was not just because it delivers power to Barack Obama’s Hyde Park neighborhood in Chicago… Exelon Generation is the leading competitive power generator in the nation, with owned generating assets totaling more than 34,650 megawatts. With strong positions in the Midwest, Mid-Atlantic, Texas and California, Exelon is the largest owner with owned generating assets totaling more than 34,650 megawatts. With strong positions in the Midwest, Mid-Atlantic, Texas and California, Exelon is the largest owner and operator of nuclear plants in the United States …