Energy giant Cinergy comes out in favor of greenhouse-gas regulations

For some time, enviros have been predicting that with states and other countries starting to regulate their greenhouse-gas emissions, sooner or later large energy companies in the U.S. would begin craving the predictability of consistent federal guidelines. It appears that day is upon us, as energy giant Cinergy, a major owner of coal-fired power plants, has voiced support in a report to shareholders for a national program that would limit such emissions while allowing industrial facilities to trade emissions credits. It specifically identified the McCain-Lieberman Climate Stewardship Act as the legislation closest to what it had in mind. Cinergy said that the law would not only be economically feasible, but might actually be a financial boon. This stands in contrast to the position taken by President Bush, who has insisted that any mandatory emissions caps would cripple the private sector. But who you gonna believe about the private sector — a politician or, uh, the private sector?