Following the discussion under David's latest post about Edwards' position on carbon capture at coal plants, I thought it appropriate to point out a few things about the electric business that are critical to this debate -- but not widely appreciated. An electric utility is a weird amalgam of lots of historic political philosophies -- most of which are in direct contradiction to modern ideas, but are difficult to repeal. According to the modern pro-market ideal, businesses should have profit incentives in competitive markets, so that Adam Smith's invisible hand will create consumer value. But to an early 20th-century regulator …
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Sean Casten is president & CEO of Recycled Energy Development, LLC, a company devoted to profitably reducing greenhouse emissions.
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