Who Opposes The Clean Power Plan And Why?
The Obama administration has just finished announcing the details of its Clean Power Plan and already there is fierce opposition to it. Senate Majority Leader Mitch McConnell has taken the lead in the fight against the Clean Power Plan, even though his home state of Kentucky can easily comply with all of the plan’s provisions.
Why are McConnell and others getting his knickers in a bunch over this? Let’s look at some of the reasons, as enumerated by the Environmental Defense Fund (EDF).
Fear And Loathing In The Utility Business
While some utility companies can look outside the windows of their posh corporate offices and see change on the horizon, many are petrified of doing so. They have been the beneficiaries of a protected monopoly for nearly 100 years and they don’t see any reason they should have to change.
Let the seas rise, the heavens fall, and billions of people suffer. Just don’t interfere with the utility companies’ God given right to get a guaranteed 6% return on their investment come hell or high water. Actually, it’s the high water part that we should all be concerned about.