Carbon-Based Free Lunch is Over

" Is here Exxon executive and former FE RIC chair. This is one of the largest electric utilities out there so clearly now you are in support of cap and trade tell us why."

" Yes we are where it's part of passing legislation as soon as we can to cap pollution. To give us the tools to that make at least. Expensive. Program possible most cost effective program possible for our customers. And to get on with it."

" Why there's such a split here Betsy was in the chamber of commerce is the US chamber of commerce for talking about here. Why there's some like his cell source -- supported and others were so against that."

" Well the cameras take in the position that we should wait until there's an international agreement before it passed legislation. We believe the time to pass legislation is now. It will be more expensive for everyone in the long run if we wait. If we pass legislation now we can both curb the pollution. And clean up our environment and create jobs we think that's a very positive thing to do and we shouldn't wait we should be leaders not followers in the international community."

" Now I hear anyone -- doesn't that put American companies at a distinct disadvantage when we talk about the consumption of the -- nations particularly. Brazil Russia India China and if you've ever flown into a city like Mexico City for example you'll know that hard -- Laws are much tougher than they are and other parts of the world. It doesn't have put -- at a real disadvantage."

" I think it all depends on whether the bill is done right we believe it's possible. And there are a lot of economic studies that show it is possible to do that to do the bill in a way that he is very positive for our economy. We also believe that ultimately other nations will follow. Betsy you are also the largest."

" Operator of nuclear plants. And wind up about 20% of electricity comes from nuclear so you stand to benefit. Tremendously a company I should say stands to benefit tremendously from a cap and trade."

" Policy. Well we have been advocating. Passage of climate legislation for a number of years our CEO John -- First testified in 1992. When he was with a different. Companies that we needed to address. The climate issue. And that's why were in favor of legislation we believe that done right what proper protection for our customers that this could be. When for the United States economy but why do you think that if the if it's handed over to EPA it would be more costly. The EPA doesn't have the tools. That would enable it to do. A cap and trade bill where you cap the amount of pollution that there can be and then used the ingenuity of the marketplace. To figure out the least cost way to implement the bill. EPA doesn't have the ability to do that they're going to be much more command and control. And we've seen with other programs of the EPA has run. That that's a much more cost you've got."

" way to do it. -- we still just keeping with the nuclear thing too because yeah I support nuclear power and I IC embryo the Europe and its very popular in Europe. -- do we still have Three Mile Island and Chernobyl in you know Jack -- from the China syndrome on our brains. Have we missed the point in terms of the fact that this is a much cleaner energy in the navy where. Yeah we remember that we think about."

" Well it is a clean energy source and our world has changed dramatically. Since Three Mile Island by the way we on a unit on Three Mile Island that is producing electricity today. And isn't clean. Safe secure heavily regulated source and we're proud that we think it has a very important part to play in the future in a low carbon economy. What's the fear than just look at what is the fear that people have twelve nuclear energy. Well it's a fear based on a lack of understanding and knowledge of what the industry is about. It also is a fear based on another year so we say get past it."

" We have a question from -- he asks about micro generation to reduce power line loads and potentially encouraging renewable development on the smaller scale. Is that -- way to go about doing it not from another angle."

" Well we need to and the studies have shown that we need all kinds of electricity and a low carbon future we need we need renewables. We need clean coal. We need natural gas we need nuclear we need the mall to keep our lights on and us safe reliable futures so micro -- are important part of it. But they're not can't be the whole story. -- we appreciate your time thanks for joining us this afternoon. That."