Big Utility Expects Caps on Emissions
Despite the domino-like collapse of the international consensus on Kyoto, American Electric Power (AEP) announced February 16 that it expected emissions caps to be imposed in America at some point.
According to Reuters, We don’t expect Kyoto timeframes to be enforced in the United States but we do expect international consensus on this issue (CO2 emissions) will prevail in the United States, Susan Tomasky, chief financial officer at AEP told a conference.
Proposals by some states in the Northeast to curb CO2 emissions were impractical but were a sign of pressure mounting on the United States to do more to reduce emissions of greenhouse gases, Tomasky said. The difficulty is where the emissions are and where the regulatory push is. In the Midwest where most coal-fired plants are, regulators don’t want anything to do with (Kyoto), she said. This is not a local problem. You can’t address it on a state basis.
AEP is one of the worlds largest producers of carbon dioxide emissions and has long hoped to profit from credits for switching from coal-fired power plants to gas turbines.
Time to Move On from Kyoto World Energy Council
Claiming that the Kyoto Protocol had served its purpose by raising awareness, but was now irrelevant, the World Energy Council has called for different approaches to the emissions issue.
Reuters reported (Feb. 12), The Kyoto climate treaty is irrelevant and it is time to move on and boost investment in reliable, clean energy for the future, although prices will rise, a leading international energy official said on Thursday. World Energy Council Secretary General Gerald Doucet said he doubted the Kyoto pact would ever come into effect, with Russia and Australia unlikely to ratify the treaty that aims to cut the emission of gases causing global warming by 5.2 percent by 2012.
Kyoto has served a political purpose but, in reality, will make no difference to actual levels of greenhouse gas emissions, Doucet said in an interview with Reuters. The focus in energy markets since the last world congress three years ago had shifted from environmental concerns, and ensuring reliability and access to energy supplies from 2010 to 2030 was now the main issue. Setting arbitrary targets was misguided, said Doucet, ruling out another world climate treaty along the lines of Kyoto and calling for international partnerships on clean technology such as the 15-nation Carbon Capture Sequestration Leadership Forum.
Wind Farms Reduce Property Values
A court in the United Kingdom has ruled that wind farms reduce the value of nearby properties owing to their excessive noise pollution.
A couple who had bought a house close to the site of a since-built wind farm without being informed of the plans were awarded over $25,000 in damages as a resultone-eighth of the value of the property. The Daily Telegraph reported (Feb. 14), The district judge explained that he arrived at [a figure for damages] by listening to the arguments of chartered surveyors employed by both sides and concluding that the wind farm reduced the value of Poaka Beck House by 20 per cent. In 1997, the property would have been worth 150,000, had there been no plans for a wind farm, he ruled. Had the farm been in place at that time, on the other hand, the property would have been worth only 120,000. As Barry and Gillian had paid 132,500, they were entitled to 12,500 in damages plus interest, bringing the total to 15,000.
The case has important repercussions because the wind-farm industry has argued for some time that turbines do not devalue homes. Indeed, until recently the website of the British Wind Energy Association (BWEA) stated, under the heading Top 10 myths about wind farms, that the proximity of a wind energy development does not adversely affect property prices.