The Wall Street Journal reports:
It isn't often an energy company (of all things) gets to present itself as an environmental crusader, cozy up to Washington rulemakers, buy political protection, and pad its bottom line—all in one neat little announcement. So give Pacific Gas & Electric, PNM and Exelon credit for going for the gold.
The three utility giants have made news recently by quitting the U.S. Chamber of Commerce. Their finer sensibilities, they explained, would no longer allow them to associate with an organization lacking in environmental fervor. How dare the Chamber demand the Environmental Protection Agency be transparent about the science it is relying on to regulate all carbon energy use. Heresy! "As a company with a clear and strong position on the importance of addressing climate change," we must go our own way, lamented PG&E's CEO Peter Darbee.
For more on the Obama
Exelon "friendship". Steve Rhodes
explains:
"Since 2003, executives and employees of Exelon, which is based in Illinois, have contributed at least $227,000 to Mr. Obama's campaigns for the United States Senate and for president. Two top Exelon officials, Frank M. Clark, executive vice president, and John W. Rogers Jr., a director, are among his largest fund-raisers.
"Another Obama donor, John W. Rowe, chairman of Exelon, is also chairman of the Nuclear Energy Institute, the nuclear power industry's lobbying group, based in Washington. Exelon's support for Mr. Obama far exceeds its support for any other presidential candidate.
"In addition, Mr. Obama's chief political strategist, David Axelrod, has worked as a consultant to Exelon."
That's the Chicago Way.
