PATH partners Allegheny Energy and American Electric Power recently held their 4th quarter 2009 Earnings Calls, where they present to their investors how well their companies are doing. As the snow piles up outside, it's quite fitting to take a peek at the questions these companies receive from their investors about PATH. Where do you think the snow is deeper? Outside your house or in these transcripts? First, Paul Evanson, CEO of Allegheny Energy (total compensation $67.26 million), gets bombarded with questions about PATH: http://seekingalpha.com/article/187041-allegheny-energy-inc-q4-2009-earnings-call-transcript Next, read how Michael Morris, CEO of American Electric Power (total compensation $9.90 million), claims that, "There are many people who just simply don't want the project to be built and they continue to intervene in any one of a number of jurisdictions, not with an eye toward, "Is this a good idea or bad idea," just simply that they don't want to see it built." Who thinks PATH is not a bad idea? http://seekingalpha.com/article/185224-american-electric-power-company-inc-q4-2009-earnings-call-transcript Now here's a fright -- both companies brag about how they are reducing the amount of money they spend on maintenance. It's all about building new and making a huge profit, not about maintaining what they already have to ensure that their customers have reliable electric service. We already know about AEP's maintenance failures causing widespread and prolonged power outages in southern/central West Virginia during the December storm. Now we cross our fingers as an even bigger storm pounds Allegheny Energy's territory in West Virginia's eastern panhandle.... Add Comment "We already know what the results will be" 02/06/2010
Here's a link to a summary of the February 4th BPU hearing on the Susquehanna Roseland project http://www.dailyrecord.com/article/20100205/COMMUNITIES/100204074/Ruling-on-PSE-G-power-line-expected-next-week There's our buddy, Steven Herling, VP of Planning for PJM, again with some more interesting quotes. Herling asserted that further analysis would not affect the need and stated "We will do the analysis, but we already know what the results will be," Herling said, declining a request to be more specific. No, there's nothing funny going on here... they always determine the desired answer in advance and then create the data to back it up later. Do you trust that PJM's planning process is "transparent" and in your best interests? by Steven Smith, StopPATH WV member http://e360.yale.edu/content/feature.msp\?id=2198 This short 20 minute documentary by Yale Environmental 360 is an “in your face” look at the devastation being allowed to take place in Appalachia. The documentary briefly shows both sides of the mountain top removal issue. I have a hard time believing that the West Virginia Department of Environmental protection has ANYTHING to do with protecting the environment. Randy Huffman is the cabinet secretary for the WV D.E.P. and is appointed by our own Governor Joe Manchin. Mr. Huffman seems to be 100% in favor of mountain top removal as it is considered a “lawful practice”. Numerous violations of the clean water act and clean air act are taking place on a daily basis and more that 1 million acres of Appalachian forests and nearly 2000 miles of streams have been destroyed. Governor Manchin seems to be 100% in favor of mountain top removal as well. He is quoted as saying that 50% of all energy in America is generated from coal and in order for us to stay competitive on a national as well as a global level we must allow this practice. Dr. Ben Stout of Wheeling Jesuit University, Jack Spardo , a mining health and safety consultant, Dr. Dennis Lemley of Wake Forest University, Ken Hechler, a U.S. Representative (1959-1977) and West Virginia Secretary of State (1985-2001) and James Hauser, a climate scientist, all would disagree with the practice of mountain top removal. Dr. Stout talks about how the practice of “valley fill” reduces the earth to rubble and is then picked up and dumped into the valleys below. To this, Randy Huffman responds that you cannot put the mountain back the way you found it. Does this sound like someone who should be in any way in control of our Department of Environmental Protection? Jack Spardo talks about the removal of trees and vegetation causing flooding downstream. To this, Chris Hamilton of the WV Coal Association responds that it is simply “heavy rain” that causes flooding. I think Mike Maynor, resident of Dorothy, WV, would disagree. In 2001, he lost his home to a flash flood asa result of mountain top removal. Jack Spardo claims there have been seven periods of severe flash flooding since the practice began in the late 90’s, causing damage to tens of thousands of homes. Overall, this film briefly touches on the devastation being allowed in places such as Naoma, Rock Creek, Dorothy and Mud River, WV. However, mountain top removal affects us all. It takes our mountains, takes our homes, kills our streams, ruins our water for future generations, destroys entire communities, pits family against family. The people that live in these communities are faced with horrible decisions. Savetheir homeland or have a job? We absolutely must look at alternatives. Wind and solar can provide well-paying jobs for generations to come. Mountain top removal can only provide jobs for a few years and then the coal companies such as A.T. Massey simply move on and leave the devastation behind. This practice cannot be allowed to continue. Coal is a LIMITED resource. Wind and sun are forever. Alternative energy is not the alternative, it has to happen now. If we don’t do it now, we are not going to survive as a species. THIS IS NOTHING MORE THAN SELF DESTRUCTIVE BEHAVIOR! | AuthorStopPATH WV blog is written by members of StopPATH. All opinions expressed are those of the individual author. ArchivesJanuary 2012 CategoriesAll |
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