Addressing Global Warming, One Investment Dollar At A Time

From today's EEI newsletter, it's clear that:

SOME PEOPLE GET IT

AES to Invest $1 Billion in Alternative Energy Over Next Three Years

AES plans to invest about $1 billion into its alternative energy business over the next three years, with half of that going into wind-generated power, the Washington Post reported today. William Luraschi, AES executive VP of business development, was quoted by the Post as saying: "Energy consumption is growing and we don't see that changing. Traditional ways of meeting that are not going to be sufficient."

Dow Jones Newswires wrote that AES "said it intends to expand its existing alternative energy businesses in wind power generation, biomass and the development of liquefied natural gas."

The company has earmarked $250 million for "projects that would take advantage of new international regulations on the emission of greenhouse gases under the Kyoto protocol and the European Union's emission trading system."

Wrote the Post: "In 2008, most countries will be required to keep their greenhouse emissions at or below certain ceilings. Companies unable to meet those standards will have to pay penalties or buy credits from companies that have them to sell. AES plans to develop projects that will generate credits to sell, either by reducing emissions at existing plants or by nurturing agricultural or forestry projects considered beneficial for the environment."

AES also has entered strategic partnerships with Los Alamos National Laboratory and XL TechGroup to develop new alternative-energy technologies, according to an AES news release.
Washington Post , April 18; AES news release , Dow Jones Newswires , April 17.

AND SOME PEOPLE DON'T

Newspaper: Media Needs to Relax on Climate Change Issue

In an editorial published in Investor's Business Daily, the newspaper pointed out that not too long ago, the media was reporting on global cooling, not warming. Wrote the newspaper: "The earth warms. The earth cools. Al Gore and his media friends should just chill."

For example, the editorial stated that the New York Times reported Sept. 14, 1975, that global cooling "may mark the return to another ice age" that "a major cooling of the climate is widely considered inevitable," and the Northern Hemisphere's climate "has been getting cooler since about 1950," the editorial pointed out.
Investor's Business Daily, editorial , April 17.