American Electric Power to pay $4.6 billion to reduce Northeast pollution

[OrangeEmpire]

Firm agrees to record environmental fine - Environment - MSNBC.com

WASHINGTON - One of the nation’s largest power generators has agreed to end a years-long federal lawsuit by paying $4.6 billion to reduce pollution that has eaten away at Northeast mountain ranges and national landmarks, The Associated Press has learned.
The settlement requires American Electric Power, based in Columbus, Ohio, to reduce chemical emissions that cause acid rain by at least 69 percent over the next decade.
It also fines AEP an additional $15 million in civil penalties and another $60 million in cleanup and mitigation costs to help heal parkland and waterways that have been hurt by the pollution.

Thoughts?

 

[allvol123]

Nice way to tax someone. Absurd.

 

[jdsa]

I don't know about fine's or what have you, but shouldn't companies be held responsible for the pollution they generate?

To me, it seems like they are being allowed to sell whatever it is they produce at less than actual market price if the cost of pollution control isn't included in the price to the customers. And the net effect is that the customers end up paying the clean up costs in taxes later on down the road.

In the case of global warming type pollution this may seem controversial, but I don't think anyone would argue that a business has an unlimited right to dump, say, mercury in the local water supply.

How should business's be held accountable for their pollution?

 

[allvol123]

How should individuals be held accountable for their pollution jdsa? You ready to pay up?

 

[Rasputin_Vol]

I don't know about fine's or what have you, but shouldn't companies be held responsible for the pollution they generate?

To me, it seems like they are being allowed to sell whatever it is they produce at less than actual market price if the cost of pollution control isn't included in the price to the customers. And the net effect is that the customers end up paying the clean up costs in taxes later on down the road.

In the case of global warming type pollution this may seem controversial, but I don't think anyone would argue that a business has an unlimited right to dump, say, mercury in the local water supply.

How should business's be held accountable for their pollution?

The northeast will end up paying for this one way or the other. Coal power (the way AEP generates a lot of it's energy) is one of the cheapest ways (next to nuclear power) to generate energy. The Northeast has a lot of gas turbine generation (whic is more costly). I guarantee you that most of the northeast buys power from AEP because it is cheaper. But now that this settlement has come down, they power they purchase from AEP will be more expensive, and their price of energy will go up. Oh well, sucks for them...

 

[MG1968]

not only that, but you have Ted Kennedy and a bunch of other NIMBY's preventing the wind turbines from being erected offshore from Cape Cod, so the power has to come from somewhere else.

 

[jdsa]

How should individuals be held accountable for their pollution jdsa? You ready to pay up?

I think I'm saying I and everyone else will be held accountable one way or another. If we don't pay the companies the money to control pollution on the front end, we'll end up paying the government on the back end for the environmental clean up. Do you have any ideas about which choice would be cheaper?

 

[allvol123]

How about neither choice.