fighting coal fired plants in NY

New York Subpoenas Five Energy Companies
By Felicity Barringer and Danny Hakim
The New York Times

Sunday 16 September 2007

Attorney General Andrew M. Cuomo of New York has opened an investigation of five large energy companies, questioning whether their plans to build coal-fired power plants pose undisclosed financial risks that their investors should know about.

Mr. Cuomo, using the same state securities law wielded by his predecessor, Gov. Eliot Spitzer, to investigate corruption on Wall Street, sent subpoenas late Friday to the top executives of the five companies, seeking internal documents.

The companies, which have projects in various states, are AES Corporation, Dominion, Dynegy, Peabody Energy and Xcel Energy.

It is rare, if not unique, for a securities law to be used for an environmental purpose, in this case the fight against new coal-fired power plants. The plants’ main emission, carbon dioxide, has been linked by scientists to global warming.

read more

Advertisements

Leave a comment

Filed under Alternative Energy

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s