Corporate Social Responsibility | Business Wire | PR NewsWire | Marketwire | Realwire | ACN/JCN newswire | 247pressrelease | PRWeb

Global Cooling Hurts Duke Energy, According to JunkScience.com

Posted : Thu, 05 Nov 2009 18:26:23 GMT
Author : JunkScience.com
Category : Press Release
News Alerts by Email ( click here )
News | Home


WASHINGTON, Nov. 5 /PRNewswire-USNewswire/ -- It seems as if Duke Energy CEO Jim Rogers should be lobbying for increased greenhouse gas emissions.

Rogers is convinced -- because his grandchildren told him so -- that carbon dioxide emissions are warming the planet. So Rogers helped form the U.S. Climate Action Partnership, http://www.us-cap.org, a coalition of a few big businesses and environmental groups that lobbies for carbon caps.

Ironically, the very global cooling that Rogers seems to be for is actually hurting his company's earnings.

According to Duke's third quarter earnings report, earnings-before-interest-and-tax (EBIT) for Duke's electric and gas division decreased:

  • $46 million because of unfavorable weather (i.e. a cooler summer);
  • $22 million because of reduced industrial demand (i.e. weak economy); and
  • $27 million because of the expiration of a temporary rate raise (i.e. government granted windfall).

All very interesting since Rogers wants to:

But for the three factors mentioned above, USFE&G's Q3 EBIT would have increased by 11%.

Finally, Duke has spent about $10 million since 2008 lobbying for carbon caps. That's a lot of lost earnings itself spent working against the interests of his shareholders and customers.

"Hey Jim, there's a reason children aren't allowed to run the world," said Steve Milloy, publisher of JunkScience.com and author of Green Hell: How Environmentalists Plan to Control Your Life and What You Can Do to Stop Them.

SOURCE JunkScience.com


Copyright © 2008 PR Newswire. All rights reserved.

Share/Save/Bookmark

Article : Global Cooling Hurts Duke Energy, According to JunkScience.com
Print this article
Share this article

Stay Updated

News gadget on your Google homepage
Subscribe to a news feed in Google Reader



Related News

Verizon Wireless and The Mattie C. Stewart Foundation Partner to Increase Graduation Rate in St. Louis Schools
ST. LOUIS, Nov. 21 /PRNewswire/ -- Verizon Wireless has announced its sponsorship of putting the InsideOut documentary in every St. Louis public school, enabling all area students to learn more about the importance of remaining in school and graduating. ...

CGX Energy Reports on Drilling Plans
TORONTO, ONTARIO -- 11/21/09 -- CGX Energy Inc. (TSX VENTURE: OYL)("CGX" or the "Company") announces that after a meeting today in Georgetown, Guyana with the President of Guyana, His Excellency Bharrat Jagdeo, CGX's President, Kerry Sully stated: ..

David Ratowitz on FOX News: Time is Ripe for Conservatives
Severe economic uncertainly is boosting the conservative brand in what may seem to be the unlikeliest of places. Congressional candidate David Ratowitz says people of Illinois’s 5th Congressional District, formerly represented by Rod Balgojevich and Rahm Emanuel, are weary of tax and sp...

ASTMH Symposium Showcases Efforts To Meet the Need for New Medicines to Treat Infectious Diseases in Developing Countries
WASHINGTON, Nov. 21 /PRNewswire/ -- An urgent need for new medicines to treat neglected infectious diseases in the developing world has prompted a growing number of collaborations among academic researchers, non-profit product development partnerships (PDPs), and pharmaceutical and biot...

The Tri Color Pashmina Style Shawl is the New "Must Have" Fashion Accessory
Top Online Retailer Hits the Fashion Mark With Their New Tri Color Shawl Offering. Brilliant colors are "in" this winter./I/P P(PRWEB) November 14, 2009 -- Fashion Scarves and Shawls, a leading online source of quality fashion accessories, is offering the tri color shawl as p...

Toronto Canada's Leeding Environmental Remediation and Demolition Contractors REC Demolition
Toronto Canada's Leeding GREEN Specialty Contractors Restoration Environmental-REC Demolition-REC Disaster Recovery Emergency Response Reduce Re-use and Recycle

AARP Hosts Rep. Bill Foster In Health Care Reform Forum
Association Discusses Key Provisions of Legislation, Continues Push for Progress on Health Care Reform ST. CHARLES, Ill., Nov. 21 /PRNewswire-USNewswire/ -- With the U.S. House of Representatives passing the landmark Affordable Health Care for America Act (H.R. ...

Have your Say
Name
Email
Subject
Your Comment

Enter Verification code
 
  

 
Follow The Earth Times
Subscribe to RSS Follow Earth Times on TwitterNews by email
Share/Save/Bookmark
 
 



 
Subscribe to free Earthtimes
News Alerts by Email Click here
For RSS Feeds Click here
or Create your own RSS

Add to Google Toolbar
Breaking News
Press Releases

 


The Earth Times
News Category

© 2009 www.earthtimes.org, The Earth Times, All Rights Reserved | Privacy Policy
Earth Times accept no responsibility or liability either directly or indirectly for views or opinions expressed in articles or comments.