An article on the CNN Money Website discusses a proposal by Duke Energy CEO James Rogers to take clean energy surcharges on utility bills national. Here is an excerpt:
"Trying to fund R&D through a cap and trade mechanism is a mistake," said James Rogers, chief executive of Charlotte, N.C-based Duke Energy (Charts, Fortune 500).
Cap-and-trade proposals in Congress - meant to counter global warming - would auction off permits to companies that emit the greenhouse gas carbon dioxide and use the money to fund alternative energy.
Under such system, the government would gradually reduce the number of permits available each year. Companies would then either buy those permits or pay to install cleaner equipment.
Rogers, speaking at a lecture sponsored by the energy information company Platts, said he supported a cap-and-trade plan in which the government gives away permits instead of selling them. He said that was fairer to utility customers in states that rely heavily on carbon dioxide-heavy coal to generate electricity.
Instead, he would fund clean technology research through a surcharge on electricity bills nationwide. Rogers didn't propose a specific charge but said it was essential that all Americans pay for a wide range of clean energy technologies - not just cleaner coal but nuclear, natural gas, wind and solar.
Experts project that domestic electricity demand will surge 40 percent over the next two decades. Rogers said the nation needs to mount a massive response - akin to the Apollo space program or the Manhattan nuclear weapons project.
"We need new technology to reduce carbon dioxide emissions by 60 or 80 percent," he said. "It's the only way to build a bridge to that world."
Interfaith Power and Light is a religious response to global warming with chapters in 25 states and Greater Washington, D.C. Find a link to your local chapter at http://www.theregenerationproject.org/State.htm
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