Category Archives: Property rights

Keeping Them Fed

Sloppin' them hogs!

Sloppin’ them hogs!

By Peter Galuszka

Here’s a little touch of cartoon humor courtesy of our friends over at the Blue Virginia blog. An artist was apparently was inspired by one of my postings from a couple weeks ago.

Enjoy!

Big Energy’s Conspiracy with Attorneys General

Former Va. Atty. Gen. Miller --toady for Big Energy

Former Va. Atty. Gen. Miller –toady for Big Energy

By Peter Galuszka

What seems to be strong opposition to a host of initiatives by President Barack Obama and the U.S. Environmental Protection Agency to curtail carbon and other forms of pollution is no mere coincidence.

According to a deeply reported story in Sunday’s New York Times, some state attorneys general, most of them Republicans, are part of what seems to be a covert conspiracy to oppose carbon containment rules in letters ghost-written by energy firms.

And, there’s a big Virginia connection in former Democratic Atty. Gen. Andrew P. Miller and George Mason University which have been bankrolled by conservative and Big Energy money for years.

The cabal has drawn its modus operandi from the American Legislative Exchange Council, funded by the ultra-right, oil-rich Koch Brothers of Kansas. In that case, ALEC prepares “templates” of nearly identical legislation that fits the laissez-faire market and anti-government and regulation principles held dear by the energy and other big industries. Many marquee-name corporations such as Pepsi, McDonald’s and Procter & Gamble have dropped their ALEC membership  after public outcries.

In the case of the attorneys general, big petroleum firms like Devon Energy Corporation of Oklahoma draft letters opposing proposals that might hurt their profits such as ones to regulate methane, which can be a dangerous and polluting result of hydraulic fracking for natural gas. The Times notes that Oklahoma Atty. Gen. E. Scott Pruitt then took Devon’s letter and, almost-word-for-word, submitted it in his “comments” opposing EPA’s proposed rules on regulating fracking and methane.

The secretive group involves a great deal of interplay involving the Republican Governor’s Association which, of course, helps channel big bucks campaign contribution to acceptable, pro-business attorneys general. In 2006 and 2010, Greg Abbott of Texas got more than $2.4 million from the group. Former Virginia Atty. Gen. Kenneth Cuccinelli got $174,5638 during his 2009 campaign.

One not-so-strange bedfellow is former Virginia Atty. Gen. Andrew P. Miller who was in office from 1970 to 1977 and is now 82 years-old. He’s been very business promoting energy firms. As the Times writes:

Andrew P. Miller, a former attorney general of Virginia, has in the years since he left office built a practice representing major energy companies before state attorneys general, including Southern Company and TransCanada, the entity behind the proposed Keystone XL pipeline. The New York Times collected emails Mr. Miller sent to attorneys general in several states.

“Mr. Miller approached Attorney General Scott Pruitt of Oklahoma in April 2012, with the goal of helping to encourage Mr. Pruitt, who then had been in office about 18 months, to take an even greater role in serving as a national leader of the effort to block Obama administration environmental regulations.

“Mr. Miller worked closely with Mr. Pruitt, and representatives from an industry-funded program at George Mason, to organize a summit meeting in Oklahoma City that would assemble energy industry lobbyists, lawyers and executives to have closed-door discussions with attorneys general. The companies that were invited, such as Devon Energy, were in most cases also major campaign donors to the Republican Attorneys General Association.

“Mr. Miller asked [West Virginia Attorney General Patrick Morrisey] to help push legislation opposing an Obama administration plan to regulate carbon emissions from existing coal-burning power plants. Legislation nearly identical to what Mr. Miller proposed was introduced in the West Virginia Legislature and then passed. Mr. Morrisey disputed any suggestion that he played a role.”

Not only that, but George Mason has an energy study center that is bankrolled by Big Energy and tends to produce policy studies of what the energy firms want. It also has the Mercatus Center, a right-wing think tank bankrolled by the Koch Brothers.

So, when you see what seems to be a tremendous outcry against badly needed regulations to curb carbon emissions and make sure that fracking is safe, it may not be an accident. And, it comes from attorneys general who should be protecting the interests of average residents in their states instead of being toadies for Big Energy.

Suddenly, It’s Raining Gas Projects and Tax Breaks

Anti-Pipeline By Peter Galuszka

Suddenly it seems to be raining natural gas pipelines and snowing millions of dollars in tax breaks and incentives for rich electric utilities.

Dominion Resources, the powerful and politically well-connected Richmond-based utility, apparently is getting $30 million in public money from the Virginia Tobacco Indemnification and Revitalization Commission without apparently asking for it to help build a new natural gas-fired generating plant in Brunswick County. The information was broken by the Associated Press.

Largesse for Dominion stretches to the other side of the Potomac River as well. The Washington Post reported Sunday that Calvert County Md., where Dominion has approval to convert a liquefied natural gas facility to handle natural gas exports, is going to give the utility about $560 million in tax credits.

And, back in Virginia, controversial is growing over the $5 billion natural pipeline that Virginia and three other southern utilities are planning to take natural gas drilled by hydraulic fracking methods from West Virginia to Virginia and North Carolina.

The Atlantic Coast Pipeline has drawn criticism from environmentalists who fear that gas is not the cleaner panacea to coal that many think. Landowners complain that Dominion and its powerful Richmond law firm, McGuireWoods, are using strong arm methods to force their way on their land to survey possible routes.

mountain valley pipelineYet another pipeline – this one doesn’t involve Dominion – is drawing concern in southwestern Virginia. The $3.5 billion Mountain Valley Pipeline that would likewise begin in the fracked gaslands of northern West Virginia and head south west of Roanoke and then cut to the small town of Chatham.

The complaints are the same as the Atlantic Coast Pipeline – green concerns about leaking methane and the threat of bulldozing bucolic private land by companies using eminent domain.

The Mountain Valley project is being spearheaded by EQT Corp. of Pittsburgh and NextEra Energy of Florida.

So what gives? Utilities like Dominion are using more gas, namely at its new Brunswick County natural gas plant and at an older coal-fired station that’s been converted at Bremo Bluffs on the James River. But how much gas does it actually need?

In the case of Cove Point, Dominion notes that the plant has been importing LNG from places like Northern Africa and Scandinavia for decades although imports have come to a spot given the glut of cheap, domestic gas.

Dominion, which bought the facility about a decade ago, can get gas from an older pipeline that for years has linked the Chesapeake Bay area with gasfields in Pennsylvania where some of the fracking for new product is occurring. Dominion can also tap gas from the venerable Transco Pipeline that for decades has transported gas the traditional way – from the Gulf State processing stations to the northeast.

Dominion says it already has contracts to export gas – from where it comes domestically – to utilities in Japan and India. But when one looks at the spaghetti-like twirl of all of the proposed new pipelines, one wonders what the game really is.

The Atlantic Coast Pipeline has a leg that bounds over to Hampton Roads from near the North Carolina border. Dominion says that this one will help supply one of its pipeline partners with gas because it serves South Hampton Roads. Ok, fine, but it might also serve another new LNG export facility in that area that has perfect deep water conditions for such a facility.

And, as some environmentalists and property owners wonder, why couldn’t the energy companies tap rights of way near existing pipelines? Why can’t existing pipelines be expanded? Go back to the utilities and they say they don’t know exactly where the pipelines will go.

That is very curious. While they don’t know where mega-billion project projects are going to go, they seem to be getting tens, if not hundreds, of billions of dollars in public funds and tax breaks to help them proceed with the Brave New World of natural gas.

 

Virginia’s Very Own Keystone XL

acl pipeline map By Peter Galuszka

The rise of natural gas keeps raising more questions about the proper future of Virginia’s and the nation’s energy policies. What just a little while ago seemed a benign source of energy has gushed into a mass of controversy and advantage.

One focus of the conflict – good and bad – is the $5 billion Atlantic Coast Pipeline that Dominion Transmission and three other southern utilities want to build from the booming natural gas fracklands of northern West Virginia, across sensitive Appalachian terrain and on through Virginia and North Carolina.

The pipeline is unusual since it doesn’t follow the usual post World War II path – Gulf States to the industrial northeast — but it shows just how the U.S. energy picture is being turned on its head.

People in West Virginia have faced the raw end of energy issues for a century and a half, but it is a new matter for the bucolic areas of Nelson County and some of Virginia’s most pristine and appealing mountain country.

Here is a story I wrote for Style Weekly on the promises and problems of Virginia’s very own Keystone XL.

Dominion’s Strange Tobacco Money

tobacco commission logo By Peter Galuszka

Dominion Resources, the powerful, Richmond-based utility with $13 billion in revenues, has strangely been getting $30 million public funds to bring a natural gas pipeline to a new generating plant in Brunswick County.

Odder still (or maybe not so) the public funds are coming from the GOP-controlled Virginia Tobacco Indemnification and Community Revitalization Commission which has figured in a wave of corruption since it was formed in 1999.

Even more bizarre, the tobacco commission made up of politically-appointed people arranged for Dominion to receive millions more than its own staff recommended, according to an intriguing report by the Associated Press.

The tobacco commission was created to use money from a massive 1996 settlement that 46 states received from four top tobacco companies in health-related lawsuits. Many states used their funds to promote health and anti-smoking campaigns. Virginia did some of that but created a pork barrel commission to dole out $1 billion to projects allegedly aimed at helping residents of Virginia’s Tobacco Road along the state’s southern tier for economic development projects.

In the Dominion case, the utility says it never lobbied for grants, but somehow it got $30 million – or $10 million over three years for a pipeline to its $1.3 billion Brunswick gas plant. The commission’s own staff said $6.5 million should have been sufficient for the first installment.

So, you have a situation where Dominion, which is a huge contributor to political campaigns,  says it never really wanted grants, the commission staff recommended one amount and the tobacco commission awarded a much bigger one. And, according to the AP, no one seems to know anything about it.

Well, that’s about par for the course. Here’s something I wrote for The Washington Post in September:

“No one seems to be checking whether commission projects are worth it. A 2011 study by the state’s Joint Legislative Audit and Review Commission found that, of 1,368 projects funded for $756 million, only 11 percent were measured for results. “They are just handing out money,” Del. Ward Armstrong (D-Henry) said in 2011.

John W. Forbes II, a former state secretary of finance and a tobacco commission board member, was convicted in 2010 of defrauding the commission of $4 million. He used the money for “The Literary Foundation of Virginia,” which he created, and set up himself and his wife with six-figure jobs. The rest was siphoned to shell companies.

The commission has awarded $14 million in grants to the Scott County Economic Development Authority, which is headed by John Kilgore Jr., Terry Kilgore’s brother (Terry heads the commission and his brother Jerry is major Republican politician). Meanwhile, their father, John Kilgore Sr., heads the nonprofit Scott County Telephone Cooperative’s board, which has received $7 million in tobacco money to expand broadband access.

The Kilgore family affair isn’t illegal, but it looks bad. The tobacco stench just doesn’t go away. In June, federal agents subpoenaed commission records in their probe of former state senator Phillip P. Puckett. The powerful Democrat from Russell was supposedly discussing a lucrative staff job on the tobacco commission with Terry Kilgore just before a key vote on expanding Medicaid. Puckett resigned in time to throw the vote toward opponents, most of them Republicans.”

The gas pipeline apparently would connect with a major interstate pipeline operated by Transco and runs from the Gulf State gas fields through Virginia to the Northeast. And, Dominion is one of four utilities planning a brand new $5 billion that would take natural gas fracked in West Virginia, over sensitive tops of the Appalachians, southeast to North Carolina. That project includes a spur line to the Dominion Brunswick plant.

One wonders why Dominion needs two pipelines to one plant — especially one built with funds intended directly for public service.

Well, as they say in the giant newsroom in the sky, good stories only get better.

Fracking Our Pristine Mountain Forests

GW forestBy Peter Galuszka

Is nothing sacred? Of all groups, the U.S. Forest Service should protect the lands it controls, but today it introduced a plan that would allow limited hydraulic fracturing for natural gas in the 1.1 million-acre George Washington National Forest which straddles Virginia and West Virginia.

Virginia Gov. Terry McAuliffe had opposed lifting the ban, although he supports other proposed gas projects in the state, such as the 550-mile Atlantic Coast Pipeline that would stretch from the fracked gaslands of Northern West Virginia over the mountains and southeastward to Southside and Hampton Roads and North Carolina.

Forest lands help supply drinking water to 4 million people including those in Richmond and Washington. Some of the forest land has so-called “Karst” topography made up of rock formation that can be dissolved. In those conditions, any leakage of methane, or the toxic, powerful chemicals used in fracking would be more, rather than less, likely to poison drinking water.

The only good news out of the new USFS plan is that before some 995,000 acres could be available for drilling and that amount will now be limited to 177,000 acres.

But what can’t they let it all be? If you head west where the heart of the Marcellus Shale formation has become one of the mega-meccas of fracked gas, you hear of impacts of all types from drilling. These have included fire, explosions, diesel generators roaring 24/7, drinking water effects, bright floodlights and so on. In fact, I am embarking on a drip in about an hour that will end up in frack-land and will report when I get back.

To be sure, natural gas drilling has been going on for decades in the Appalachian Plateau of the western slopes of the Appalachians. Few pipelines crossed eastward over mountains and it was rare to find many drilling rigs in those areas.

But the fracking craze continues unabated and is now a $10 billion industry in the Marcellus Shale formation. One potential new target could be a different formation that starts from Fredericksburg and slips under the Potomac northeast into Maryland. A Texas firm with a letter drop address has been talking about leasing rights for fracking. One assumes that if the leases are in place, they’ll be quickly flipped to an actual drilling company, but you won’t know who. Virginia is only in the very early stages of setting up state rules for fracking.

Environmentalists say natural gas can be an even worse carbon polluter than coal should methane be released. Some others believe that the biggest damage comes not from the actual fracking process with millions of gallons of water and chemicals but from faulty wells.

One can make an argument that gas is good because it has completely reorganized the global pecking order in terms of energy. It means the U.S. need not be beholden to machinations of the Middle East, Central Asia and the likes of Vladimir Putin.

What bothers me is the rush to frack. I remember back in the 1960s in West Virginia when mile after mile of mountain side had been ripped apart by surface miners. It was a cheap way to get at coal. Mystery companies were supposed to reclaim the mine site but rarely did because they’d bankrupt one alphabet soup firm merely to create a new one.

The fracking craze, if not properly regulated, could yield even worse environmental disasters.

Kudos: U.S.-China Climate Pact

Shanghai: Soot City

Shanghai: Soot City

By Peter Galuszka

President Barack Obama’s trailblazing pact with Chinese leader Xi Jinping to limit greenhouse gas emissions through 2025 is welcome news and could do much to reduce carbon dioxide emissions since the two countries are responsible for about 40 percent of the globe’s total.

China is an economic powerhouse so energy hungry it builds a new coal-fired generating plant about every eight to 10 days. Its leaders have pledged to cap  carbon emissions by 2030 or earlier.

Obama announced a plan to cut U.S. emissions by 26 to 28 percent below 2005 levels by 2025. This is a bigger cut than the 17 percent reduction by 2020 that he had announced earlier.

The agreement, reached in Beijing, is most welcome for the obvious reason that it would make a huge contribution to reducing greenhouse gases. It also undercuts the arguments by the fossil fuel industry, some utilities and their drum beaters that any steps the U.S. takes in cutting carbon pollution are pointless since China (or other Asian countries) will keep polluting anyway.

The arguments are crucial since Virginia’s Big Energy industry and the staff of the State Corporation Commission are attacking plans by the EPA to greatly reduce carbon.

Consider this gem of wisdom from another correspondent on this blog: “Virginia could revert to stone-age levels of zero greenhouse gas emissions tomorrow, and the savings would offset the increase in CO2 from coal-fired power plants built in India and China in a year! (OK, maybe not a year, but over a very short period of time.)”

Sadly, this kind of mentality is regressive and, with the new Washington-Beijing pact, is becoming increasingly irrelevant.

One thing many American commentators don’t seem to realize is that China isn’t necessarily a primitive business juggernaut stomping on any rational plan to check pollution. Beijing and Shanghai have some of the highest rates of air pollution in the world and its leadership, especially engineers and policy makers capable of understanding how technology can help them, knows they just can’t continue as before.

Three years ago, I visited both cities to research a book on the coal industry (newly out in an updated paperback, by the way, see below). I also went to Ulanbatour, the capital of coal-driven Mongolia where the air was so bad, I felt delirious within hours after arrival and by the next morning I showed signs of pulmonary illness.

The promise for changing things seems to money and the system.

In the U.S., we have a regulatory oversight apparatus over energy generation. This is reasonable because it prevents electric utilities from using their monopoly power to stick customers with high rates. But the system is flawed because: (1) it too often favors big utilities over average consumers and; (2) it is rigged to prevent new, experimental and possibly transformative technologies that very well could allow the use of dirty and dangerous but still cheap coal.

In the latter case, the thinking seems to be to go for ephemeral cost benefits (like using natural gas) without having any long-term strategy that actually might save lots more money through better health and more efficient, less-polluting energy.

In several cases, regulators nixed pilot plants that burn coal but use special new ways of doing so that capture a lot of carbon either in a chemical process involving ammonia or by stripping off the carbon emission from the pollution stream and sequestering them safely away. The plants cost big money. They are much cheaper to do as greenfield sites but regulators are more inclined to prevent them in favor with the soup d’jour of power that happens to be cheapest at the moment, in our current case, natural gas. Continue reading

Takeaways From the GOP’s Big Win

gillespie warnerBy Peter Galuszka

The night of Tuesday, Nov. 4 was an ugly one for the Democrats and a big win for Republicans. Here are my takeaways from it:

  • U.S. Sen.Mark Warner clings to a tiny lead that seems to grow slightly, still making it uncertain if opponent Ed Gillespie will ask for a recount. The surprisingly tight race is an embarrassment for Warner. It likely takes him out of consideration to be Hillary Clinton’s running mate in 2016 although Democrats Tim Kaine and Jim Webb are still possibilities.
  • Ed Gillespie ran a smart campaign and came off as a solid candidate. Of course, we are comparing him against Kenneth Cuccinelli and that’s a very low bar but Gillespie’s projection of being relaxed and confident helped him. Gillespie did very well despite being dissed by the national Republican money machine. Look for him in the gubernatorial race of 2017.
  • Barack Obama takes his lumps — again. The country’s on the mend and things are going fairly well (despite what you may watch on Fox), but Obama is incapable of cashing in on that. His cool, detached style is a big minus and makes him seem careless and incompetent, especially when crisis like ebola come up that are not of his making.
  • The Republican wins on Capitol Hill are more significant than the Tea Party inspired once during the 2010 midterms.But the earlier races brought in a kind of mindless negativity and gridlock by both parties that truly hurt the country. Will that happen again? Or will older, wise heads prevail?
  • Increase in coverage my Obamacare The New York Times

    Increase in coverage by Obamacare
    The New York Times

    You might get some bipartisan action on taxes and the budget, but deadlock remains for Affordable Care and immigration. The fact is that Obamacare is too far along to change much and people actually like it, despite what you hear in the right-wing echo chamber. This chart from the New York Times shows that the ACA has boosted health coverage in some of the poorest parts of the country, such as the Appalachian coal country, the African-American belts of the Deep South; and poor parts of the Southwest like New Mexico and parts of Arizona. This alone is a big success.

  • Immigration. Look for Obama to use executive authority to come up with an immigration plan. It is an emotional, hot button issue that reveals lots of ugly attitudes. But something needs to be done fast. The GOP has no plan, except for George W. Bush who actually pushed a workable solution that was compassionate. That got soaked by the Tea Party, but then Republican Mitt Romney came up with a health care plan for Massachusetts that looks remarkable like Obamacare and was a precursor. If the GOP can get back to those helpful ideals, there may be hope.
  • Warner lots big swaths of voters who had been with him, like Loudoun County and parts of rural Virginia. This is alarming for the Dems and shows they need to project their messages a lot better. Warner’s poor performance in debates didn’t help either.

It is a big win for the GOP, but somehow I don’t feel as bitter as I was in 2010.

Steve Nash’s Important Book

Nash bookBy Peter Galuszka

Stephen Nash, a former journalist who teaches at the University of Richmond, has written an important new book about how climate change could affect Virginia. His detailed reporting is impressive and I think he shatters the arguments of global warming deniers.

Here is a book review I did for Style Weekly:

“Imagine it’s a fall day in 2114. You get ready for a jog down by the James River.

It’s pleasant by the towering palm trees, but you must keep an eye out for alligators and the venomous cottonmouth moccasins as big around as your thigh. It’s best to exercise early because the rest of the day will be typically steamy and windless.

This is what Richmond very well could be like within 100 years if carbon-dioxide emissions stay at the same levels as today. Virginia’s climate could warm up to something like that in northern Florida, according to Stephen Nash, a part-time journalism professor at the University of Richmond in his new book, “Virginia Climate Fever: How Global Warming Will Transform Our Cities, Shorelines and Forests” (University of Virginia Press).”

To read more, click here.

In Energy Studies, No Renewables, Please

Karmis of VT's Center for Coal Research

Karmis of VT’s Center for Coal Research

By Peter Galuszka

For years, Virginia Tech has operated the Center for Coal Research which is dedicated to studying bituminous product, enhance its marketability and make mining it safer and less environmentally destructive.

The center receives funding and has sponsors and an advisory board made up of big utilities like Dominion, coal-hauling railroads like Norfolk Southern, a few state officials and coal company executives from Alpha Natural Resources, Arch Coal and Patriot Coal. No environmental advocates are advisers nor are proponents of renewable energy.

So, it was with considerable interest that I was introduced to a new “watchdog” group named the Checks and Balances Project, based in Northern Virginia and  funded by advocating clean energy and sustainability such as the New Venture fund and Renew American Prosperity Inc.

In several intriguing blog posts, Scott Peterson, a former media spokesman for the New York Stock Exchange and now executive director of Checks and Balances, asks why Michael Karmis, an internationally-known VT coal expert, was asked to write the cost-benefit analysis for the State Energy Plan released last month that will guide the General Assembly in passing laws relating to energy.

Peterson notes that Karmis’s report was a foundation document used by the State Corporation Commission staff when it gave a big thumbs down to the U.S. EPA’s proposed rules to cut carbon dioxide. The SCC claimed that the rules would shutter much coal-fired generation (much of which was going to be shut down anyway) and that renewables like solar and wind are too expensive, unreliable and scarce to replace the lost generation capacity.

I blogged about this repeatedly in recent weeks and I asked why Virginia has such a puny share of renewable energy compared to its neighboring states. I got responses from the SCC and also from Dominion as well as the Virginia Chapter of the Sierra Club and posted them.

Peterson’s points are spot on. Why would the state and the SCC go to such an overwhelmingly pro-coal group for what seems like a self-serving and self-dealing cost-benefit analysis? Do Virginians not deserve input from other players pushing forms of energy? Why did they not consult economic forecasting groups specializing in energy but chose instead Chmura Economics & Analytics of Richmond, which has no special energy expertise and has been criticized (by me) for tending to say what state officials want.

It is really a shame that the administration of Gov. Terry McAuliffe is following the same stacked-decks that former Gov. Robert F. McDonnell used to use. During his time in office, I outlined several instances where McDonnell chose “advisors” mostly from the coal and nuclear and natural gas industries to “study” energy needs or whether uranium mining near Chatham would be safe.

Also take a look at who the sponsors of the Virginia Tech coal center are:

  • Alpha Natural Resources of Bristol bought the extremely troubled and controversial Massey Energy whose renegade CEO, Don Blankenship, was so loose with safety and so strong on production demands that 29 miners lost their lives in a massive blast at the Upper Big Branch mine in West Virginia on April 5, 2010, according to three probes of the incident. I wrote a book about it.
  • Arch Coal is one of the most controversial users of ecologically devastating mountaintop removal surface mining in southwest Virginia, Kentucky and West Virginia,.
  • Evan Energy Investments is a Richmond-based firm started by E. Morgan Massey, whose family started A.T. Massey coal which later became Massey Energy. E. Morgan Massey had no corporate duties at Massey Energy during the 2010 blast but during the 1980s, he beat the United Mine Workers by instituting his “Massey Doctrine” of tough negotiating.
  • Patriot Coal is a spin-off of Peabody Coal, the largest coal firm in the U.S. Peabody had assets in the Central Appalachians but found that its western U.S., Illinois Basin and foreign operations were more profitable so it created Patriot. The spin off has been bankrupt at least once and has been criticized for trying to cut benefits for retired miners who had worked for Peabody.

To be sure, several state and federal organizations are also sponsors and I’m told that the center does do worthwhile working on setting up computer-based networks of sensors that would automatically shut down a deep mine’s operations if it found bad levels of explosive coal dust or methane. It also has done work to find carbon capture technologies that could allow coal to be burned cleanly.

The larger point is that the state is structured in ways that do not provide a place at the table for people not associated with big, traditional, base-loaded energy such as coal and nuclear power stations. Many accounts show that solar and wind are becoming much more technically and cost effective. Although the U.S. Department of Energy does not expect wind or solar to be more than about 20 percent of the total energy mix any time soon, its growth is picking up speed.

If more houses and businesses adopt solar panels as they get cheaper and better, they will reduce their need for Big Energy. As that happens, the large utilities, coal firms and railroads may get stuck with trillions of dollars’ worth of “stranded” and unused assets. Guess will end up paying for a lot of them? The ratepayers, of course, with the SCC’s blessing.