USCAP cos. spend 67 million lobbying: Exelon looks for 30,000,000%+ return

July 28, 2009

The rent-seeking companies that belong to the U.S. Climate Action Partnership lobbying coalition have spent $67.4 million lobbying Congress this year.

Carbon Control News reports:

Since the beginning of the year, members of USCAP have spent roughly $67.4 million on lobbyists, according to a Carbon Control News analysis of lobbying disclosures, though with many of its members lobbying on issues such as health care it is not possible to determine how much was spent lobbying specifically on climate legislation. Still, indicative of their overall influence, figures compiled by the Center for Responsive Politics suggest the amount spent by USCAP members on lobbyists is on par—and may actually exceed—the total amount spent on lobbying by defense contractors this year. General Electric and ConocoPhillips alone spent more than $20 million on lobbying between them. BP America, another USCAP member, has spent $7.6 million so far on lobbyists, while utilities Duke Energy, Florida Power & Light, and Exelon have each spent around $2.5 million.

What will they get out of the bill?

According to the report,

[Exelon] CEO John Rowe believes the House-passed climate legislation “will add $700 [million] to $750 million to Exelon’s annual revenues for every $10 per metric ton (Mt) increase in the price of CO2 [carbon dioxide] allowances.”

Not a bad annual return on a one-time lobbying investment of $2.5 million.

One Response to “USCAP cos. spend 67 million lobbying: Exelon looks for 30,000,000%+ return”


  1. [...] USCAP member Exelon salivated at the prospect of reaping substantial money-for-nothing — i.e., $750 million in revenues for every $10 increase in the price of carbon. Exelon would not have had to perform any act for such revenues other than selling the free carbon [...]


Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 63 other followers

%d bloggers like this: