Indiana ratepayers are rightly looking to saddle Duke Energy shareholders with the cost of this green fraud.
Duke announced yesterday that it was taking a $220 million charge against earnings to offset the cost overruns at its “clean coal” power plant in Edwardsport, Ind. Last year, Duke took a $44 million charge on the same plant.
Duke shareholders are potentially looking at eating another $436 million (for a total of $700 million) as the cost of the plant, originally pegged at $2 billion, is projected to cost $3 billion+. Further given economic conditions and the incompetence and corruption surrounding the Duke project, ratepayers are unlikley to be picking up any more than the $2 billion they’re already stuck with.
But what’s all this for? Is “clean coal” worth it?
If “clean coal” means no CO2 emissions, the Duke’s plant fails as it will not be capturing and sequestering CO2, and global warming alarmism is nonsense anyway.
If “clean coal” means reduced conventional pollutants (i.e., sulfur dioxide and nitrogen oxides), then this is a waste of money as our air is already clean and safe with current power plant emission controls.
Who should pay the price for the Edwardsport disaster? How about Duke’s Chairman and CEO, Jim Rogers? Click on the “Wanted” poster below, to enlarge.