
Power execs not ready to "go green"Apparently, the traditional power industry isn’t quite ready to jump on the “going green” bandwagon. According to CNNMoney.com, although powerful executives see some promise in clean energy technology, they warn about “delusion and misinformation,” signaling some hesitation on their part to embrace green energy. Top executives from some of the world’s leading power companies met in Houston recently for the Cambridge Energy Research Associates’ (CERA) annual energy conference, where they voiced their concerns. “There"s no question there are technical answers that can bring us clean energy,” said Michael Morris, head of the utility American Electric Power. “But the timeline is half a decade or a decade” away. AEP is one of the largest users of coal and one of the largest emitters of the greenhouse gas carbon dioxide in the country, CNNMoney.com says. Morris, like other power industry executives at the conference, said the country should push ahead in building electricity plants of all types if it is to meet its growing energy needs. This presents a challenge for traditional power companies and an opportunity for clean and efficient energy technology, but executives were cautioning that their industry may not be ready to embrace the clean energy movement completely just yet. John Deutch, a former director of the Central Intelligence Agency under President Clinton and now an energy professor at Massachusetts Institute of Technology, agreed with the hesitation, saying technology to capture carbon dioxide from coal plants is not proven, and solar and nuclear are too expensive and unlikely to become cost-competitive anytime soon.
Cost was also a concern for the execs, since electricity that comes from cleaner sources, such as nuclear, solar, wind or cleaner coal, will end up costing consumers more money, CNNMoney.com said.
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