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Show THE ZEPHYR/AUGUSI-SEPTEMBER GREENING of WILDERNE$$ (continued 2008 with some of the world’s biggest capitalists, who happen to have major nuclear power ambitions themselves, has apparently influenced their language. The nuclear option that just weeks earlier needed “rigorous federal research” will be played sooner than later. Bonderman’s power, with a single stroke, has, at the very least, confused the nuclear energy policies of two of the largest environmental groups in the United States. But Andrew Ross Sorkin, the respected reporter for the New York Times, had a more realistic view of the buyout. In a February 2007 story called, “Many Shades of Green,” Sorkin noted that it was the collapse of TXU stock, driven down by worried investors who feared what eleven new power plants would do to the financial stability of the company, that caught TPG's eye in the first place. Private equity firms are always on the lookout for undervalued companies and this was one of them. Even TXU saw the financial risks associated with such an aggressive building program and, according to Sorkin, had already planned to scrap six of the proposed coal-fired generating stations. TPG, the NRDC and EDF claimed victory and both environmental groups called the acquisition a landmark moment for corporate/environmental cooperation. But the bottom line was still the bottom line—for the new owners of TXU, the revenues from the utility that would have gone to the construction of the power plants The news could only have pleased one gentleman, who a few years ago had this to say about environmentalists’ opposition to nuclear power: “If we had nuclear power, we would not be as concerned about ‘our dependence on foreign oil.’ We wouldn’t be as concerned about the pollution of coal. But we can’t have nuclear power, because it threatens the environment. We can’t have nuclear power because they say it might hurt people...” That man is Rush Limbaugh. NRDC, EDF and David Bonderman are his newfound allies. Even if they refuse to admit it. RYANAIR AND “THE IRRESPONSIBLE FACE OF CAPITALISM” Still Bonderman’s star shines brightly among most conservationists in this country. But on the other side of the Atlantic, the story is quite different. David Bonderman is chairman of the board of directors of Ryanair, a discount airline in Great Britain that has re- Bonderman’s handpicked CEO, Michael O'Leary, has worked furiously to make Ryanair the largest discount airline in Europe. would now be used to pay off the cost of the acquisition. It was a very good deal for TPG and David Bonderman. Then, two months later, while NRDC and EDF basked in the glow of their TXU vic- tory, Bonderman and his newly acquired utility upset the cart with another stunning announcement. While TXU would scrap all but three of its proposed coal-fired power plants, it would also move forward with the design and construction of the largest nuclear power plants in the United States. As recently as last year, EDF noted in its online newsletter, “Serious questions of safety, cently come under attack from Green groups and even the Environment Minister of the British government. _ His handpicked CEO, Michael O'Leary, has worked furiously to make Ryanair the largest discount airline in Europe. In 2005, when he and Bonderman moved forward with plans to buy 70 new Boeing 737-800 aircraft, O’Leary noted Bonderman’s “When it comes to climate change, Ryanair are not just the unacceptable face of capitalism, security, waste and proliferation surround the issue of nuclear power. Until these ques- tions are resolved satisfactorily, Environmental Defense cannot support an expansion of nuclear generating capacity. We need a rigorous federal research program to address these questions, so that our nation will have the information needed to make sound decisions in the future. The problem of global warming is so serious that we must thoroughly presence at the meeting, “He's a lot richer than me and we need the guy with the big cheque book to show up for the big ticket items,” according to the UK’s Daily Telegraph. He has also steadfastly and loudly opposed efforts to place environmental restrictions on the airline industry. According to the UK newspaper, The Guardian, “Mr O'Leary said: ‘Most of this environmental hysteria is an excuse for the government to raise tax revenues. People are being scammed here.’ ...Mr O'Leary reiterated his opposition to the EU carbon emissions trading scheme, which airlines are due to join in 2011 and which would require carriers pay for the carbon they emit, adding up to ££25 to the cost of a long-haul ticket.” Ian Pearson, the UK Environment Minister responded: “Like every other industry, the airline industry must take its share of responsibility for combating climate change and the European Union’s proposal is the vehicle by which they can do just that.” they are the irresponsible face of capitalism. O'Leary just seems to take pride in refusing consider every low-carbon option for generating power.” Both groups were shocked by the announcement. On a 2007 “Living on Earth” program on National Public Radio, the sudden switch was discussed by representatives from both organizations. According to a transcript, “ NRDC attorney Geoff Fettus says dozens of to recognize that climate change fs a genuine problem.” issues were discussed with one notable exception.” According to Fettus, “As far as I understand it the nuclear issue did not come up.” Ian Pearson, UK Environment Minister But Jim Marston, the climate initiatives director for EDF in Texas seemed resigned to the change. “We have come to the conclusion that the threat of global warming is so se“vere and the time for action is so short,” Marston reasoned, “that we have to look at all low carbon options again including nuclear.” And in 2008, the NRDC’s Thomas Chochran appeared before the House Science and Technology Committee. The NRDC couldn’t even muster the courage to give a clear environmental thumbs-down to the expansion of nuclear power. Instead their testimony centered on assessing the feasibility of nuclear power from the investor's point of view. Chochran noted, “it’snot whether you are for or against nuclear power per se...if nu- clear power can compete on a level playing field [without subsidizing new construction] let it compete.” And he insisted that, “capping carbon would provide the single greatest benefit to the nuclear industry today” are those of utterly compromised environmentalism. _ NRDC concluded, “...Nuclear has made a contributionto climate change mitigation and will continue to make a contribution... In the case of the NRDC, rubbing shoulders And he had these words for Mr. O'Leary and his airline: “When it comes to climate change, Ryanair are not just the unacceptable face of capitalism, they are the irresponsible face of capitalism. O’Leary just seems to take pride in refusing to recognize that climate change is a genuine problem.” O'Leary shot. back, calling the Environment Minister, “foolish and ill-informed.” He insisted that “Ryanair has spent more than $10 billion on a fleet of fuel-efficient engines which have reduced fuel burn by 45% and cut CO2 emissions by 50% per passenger, making Ryanair Europe’s greenest airline.” But Ciaraan Cuffe, the Green Party Environment spokesman was not buying any of O'Leary's claims.. In a January 2007 press release, he had this to say: _ “Michael O'Leary accuses politicians and environmentalists of telling lies, but he is the biggest liar of all. Ryanair is one of the most ardently anti-Green airlinesin Europe, and wane HUB OF MOAB CYCLERY e7 Ree teme(6)B ES Siac 888.304.8219 MOAB'S FIRST & BEST BIKE SHOP 94 WEST 100 NORTH MOAB, UT 259.5333 rimeyclery.com We BIKE RENTAL & SALES eis eae eae MAPS & BOOKS ecie ipa) Was: miss you buddy RIM SALUTES GEORGE CARLIN . |
