One of the nation’s largest utilities, Exelon (NYSE: EXC), withdrew
from the United States Chamber of Commerce on Monday, due to the
group’s stance on climate change legislation.
Exelon joins energy companies PG&E Corp. (NYSE: PCG) and PNM
Resources Inc. (NYSE: PNM), which also quit the Chamber, because of its
strong opposition to federal legislation to limit greenhouse gas
emissions.
The Chamber also joined
with the National Automobile Dealers Association earlier this month to
ask a U.S. Court of Appeals to review the EPA’s decision to allow
California to impose tougher tailpipe emissions standards.
Chamber officials who doubt the legitimacy of climate science recently
called for a "Scopes monkey trial of the 21st century" according to a Los Angeles Times report.
The group’s rejection of climate science is causing a rift among
members who believe it is in the best interest of industry for the
federal government to set climate guidelines upon which business
decisions for the future can be based.
"The carbon-based free lunch is over," Exelon Chairman and Chief
Executive John W. Rowe said in a statement. "But while we can’t fix our
climate problems for free, the price signal sent through a
cap-and-trade system will drive low-carbon investments in the most
inexpensive and efficient way possible."
Read the full New York Times report at the link below.
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