By: A. J. Morgan - Commentary | Posted: Monday, November 24, 2003 12:00 am
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The deal on energy legislation is an appalling abomination,
written by a few Republicans working with energy industry
executives behind closed doors. The undemocratic process in which
this energy bill was crafted does not benefit consumers or the
environment. Both would become the victims of an energy plan that
will reward corporate polluters at taxpayer expense, with the
following consequences:
- With the repeal of the Public Utility Holding Company Act
(PUHCA), expect a consolidation of the utility industry, as huge
corporations buy local utilities and use ratepayer assets to
finance risky investments.
This will lead to more Enron-style scandals, higher electricity
bills and more blackouts. Assets of the 179 largest investor-owned
utilities in the United States were estimated to be worth $600
billion in 1996 -- closer to $1 trillion today.
- The repeal of PUHCA will allow, for the first time since 1935,
the ownership of this huge and essential public service by
investment banks, oil companies, insurance companies, electric
equipment companies and others with potentially huge conflicts of
interest. Electric utility industry revenues constitute between 3
percent and 4 percent of the gross domestic product, more than
telecommunications, natural gas pipelines and airline revenues
combined.
- The bill will hand out an estimated $20 billion in tax breaks,
most to the oil, gas and nuclear industries, enabling more
pollution of the air, land and water.
- As a result of the attempt to revive the declining and
uneconomical nuclear industry, the public will face a growing
nuclear-waste problem and increased shipments of radioactive waste
through our communities.
- Environmental laws, such as the Clean Air Act, Clean Water Act
and Safe Drinking Water Act, will be gutted through exemptions or
extensions of cleanup deadlines.
- Public lands in the Rocky Mountain states will be opened to
drilling at the expense of wildlife habitat and federally protected
lands.
- The coalbed methane industry will continue to pollute
groundwater, rivers and streams, bolstered by tax breaks and permit
exemptions. Consumers will be left paying billions of dollars for
the cleanup of groundwater contaminated with MTBE because the
producers will be immunized from lawsuits. Residents in areas such
as Houston, Atlanta and Los Angeles will face an increased
incidence of asthma because of exemptions to the Clean Air
Act.
Congress should consider the implications of this bill, which
was written under the guise of energy independence and
sustainability but in reality demonstrates alarmingly little
concern for safe, renewable energy policies that will benefit us
all. Congress must reject this deal, which was produced under
pressure from Vice President Dick Cheney, and instead develop an
energy plan that will address the real needs of consumers and the
environment.
Anne J. Morgan of Vista is a retired high school teacher.