Unlikely Support

Steve Lohr has a nice piece in today’s New York Times about the economics of carbon mitigation, pointing out how some in carbon emitting industries actually welcome a carbon tax or cap-and-trade system:

So it is something of a surprise that James E. Rogers, chief executive of Duke Energy, a coal-burning utility in the Midwest and the Southeast, has emerged as an unexpected advocate of federal regulation that would for the first time impose a cost for emitting carbon dioxide. But he has his reasons.

“Climate change is real, and we clearly believe we are on a route to mandatory controls on carbon dioxide,” Mr. Rogers said. “And we need to start now because the longer we wait, the more difficult and expensive this is going to be.”