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U.S. Climate Policy: It Takes a Martyr

U.S. Climate Policy: It Takes a Martyr. Cathy S. Woollums Sr. V.P. Environmental MidAmerican Energy Holdings Company NARUC Annual Convention November 12, 2007. “No one should underestimate the challenge of de-carbonizing an economy that has relied on carbon-based fuels for two centuries.”

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U.S. Climate Policy: It Takes a Martyr

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  1. U.S. Climate Policy:It Takes a Martyr Cathy S. Woollums Sr. V.P. Environmental MidAmerican Energy Holdings Company NARUC Annual Convention November 12, 2007

  2. “No one should underestimate the challenge of de-carbonizing an economy that has relied on carbon-based fuels for two centuries.” Testimony of David L. Sokol, Chairman and CEO MidAmerican Energy Holdings Company Subcommittee on Energy and Air Quality, Committee on Energy and Commerce U.S. House of Representatives March 20, 2007

  3. States with Greenhouse Gas Emission Reduction Targets Source – Pew Center on Global Climate Change

  4. California (GHG mandatory reporting, cap-and-trade, emissions performance standard) Montana (advisory committee recommendations) Oregon (RPS, GHG mandatory reporting, possible cap-and-trade and emissions performance standard) Utah (Blue Ribbon Advisory Committee recommendations) Washington (RPS, GHG emissions performance standard, GHG mandatory reporting, Climate Advisory Team recommendations) Wyoming (IGCC, energy efficiency, carbon capture and sequestration) Iowa (Climate Change Advisory Council) Illinois (GHG target, renewables requirement) Colorado (Climate Action Plan) Arizona (GHG target) New York (GHG target) Western Climate Initiative Regional Greenhouse Gas Initiative State and Regional Initiatives

  5. State Renewable Portfolio Standards

  6. Key Policy Challenges and Opportunities • Coordination of policies and programs that consider energy, economics and the environment • Nuances of utility regulation • Mandates, incentives and unintended consequences • Electricity supply and reliability • Cost impacts on all customers • Development of new electricity generating facilities and associated infrastructure • Investment perspectives • Economic safety valves and policy off-ramps

  7. Achieving the Right Balance • Consumers’ elevated expectations • Uninterrupted service • Acceptable energy costs • Energy demand • Energy efficiency won’t power a plasma t.v. or manufacture a wind turbine • Energy supply options • All energy production has consequences • All energy production has detractors • Political ambitions • Desire to be re-elected • Jobs, tax revenues and a robust economy revolve around energy

  8. Transition to a Low-Carbon Economy Requires a Well-Constructed Plan All of the following will be necessary: • Smart grids and communication infrastructures • Grid infrastructure with capacity and reliability to operate with 20-30% intermittent renewables • Significant expansion of nuclear • Commercial-scale coal-based generation units operating with 90+% CO2 capture and storage • Efficiency • Renewables • Plug-in hybrid electric vehicles • Distributed energy resources

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