Several weeks ago, the Wall Street Journal ran this article, detailing TXU, the big Dallas-based power utility's plans to build 11 new coal-fired power plants in Texas. Soon. In fact, this would amount to about a doubling of existing coal plants, and would certainly be the most rapid buildout of power plants in the history of the State. Why are they in such a hurry? The plot thickens when you throw in the fact that Governor Rick Perry last year signed an executive order "fast-tracking" the permitting process for these plants. TXU says it's just trying to meet demand. But it appears that TXU is trying to get under the regulatory wire, because the plants it proposes will use the old way of burning coal, pulverizing, rather than the new, developing, cleaner, but more expensive way, gasification. To help us understand the drama playing out, of which you are a part, Randy Loftis of The Dallas Morning News, who is covering this story extensively, will join me. I asked environmental and business reporters at The Houston Chronicle to join too: they, regrettably, are not on the story and declined. I asked the Wall Street Journal reporter to join us, but she declined. And I asked General Electric to come on and discuss the state of its gasification technology, upon which clean power will depend. They declined too after I mentioned TXU. I sense that this issue is getting too hot for some to handle. But not for New Capitalists.
Also this week:
LEO GOLD
The TXU fight has been joined here in Houston. Bill White hires his old friend top litigator Steve Susman to go to war against TXU. Here's a video clip of the two big city mayors' press conference.