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James Rogers, chairman of the board, president and chief executive officer of Duke Energy, spoke Friday on the final day of the CERA Week 2009 energy conference in Houston. Rogers predicted carbon emissions legislation will be passed in 2009 or in 2010, at the latest.
“President Obama was inaugurated 23 days ago, and I believe the signposts are clear. I believe a strong case can be made for passing legislation this year,” said Rogers.
Rogers said the we have the capability to cure the ills of the economy and the climate, and can do both contemporaneously.
He insisted that $30 billion “green” stimulus included in the new government spending package would not create jobs unless carbon emissions legislation is passed immediately.
“We need to build a road map,” cautioned Rogers.
Urging the US to take a leadership role in developing the technologies needed to reduce emissions, Rogers expressed deep concern that the nation seems fixated on creating “Shovel-ready” jobs instead science and engineering jobs.
He observed that Obama has appointed a number of supporters of cap and trade to key posts, signaling a shift in the nation’s approach to solving climate change.
A cap and trade program first sets an aggressive cap, or maximum limit, on emissions. Sources covered by the program then receive authorizations to emit in the form of emissions allowances, with the total amount of allowances limited by the cap.
Later, responding to a question from RTTNews, Rogers said that the real price of electricity is going up in the coming years due to modernization costs and the development of a “smart grid”.
Obama has asked Congress “to act without delay” to pass legislation that included doubling alternative energy production in the next three years and building a new electricity “smart grid”.
A smart grid delivers electricity from suppliers to consumers using digital technology to save energy and cost.
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