Day: June 10, 2009

Carbon Control News reports that in a June 9 hearing before the House Energy and Environment Subcommittee,

[David Sokol, the chairman of Warren Buffet’s utility subsidiary MidAmerican Energy Holdings Company, said] utilities, and by extension consumers, will be charged twice under the trading provisions of the legislation, “first to pay for emission allowances, which will not reduce greenhouse gas emissions by one ounce, and then for the construction of new low- and zero-carbon power plants and other actions that will actually do the job of reducing these emissions… This bill will cost hundreds of billions of dollars, and we think it is wrong to saddle customers with these unnecessary and duplicative costs that provide them with absolutely no benefits.”