Friday, February 06, 2009

Tom Borelli on Fox News Channel's "Glenn Beck" Discussing GE

Glenn Beck (TV program)Image via Wikipedia

By David Almasi:
Tom Borelli, PhD, director of the National Center's Free Enterprise Project, appeared on the Fox News Channel's "Glenn Beck" program today at 5:00 pm eastern to discuss the appointment of General Electric CEO Jeffery Immelt to a new presidential advisory panel.

President Barack Obama today announced members of his new Economic Recovery Advisory Board. Immelt is one of the members. Tom has been a leading critic of Immelt's corporate advocacy for environmental causes at the peril of consumers, stockholders and employees.

In 2007, Tom named Immelt one of the top five worst corporate CEOs, noting:
...Immelt's global warming strategy is causing a series of unintended consequences. For example, the incandescent light bulb - a GE product and invention of its founder Thomas Edison - will be phased out by federal law.

Over the past year, GE lobbyists had to fight hard to defeat outright bans of incandescent bulbs and buy time to restructure its lighting business that currently relies more on traditional bulbs.

GE's coal business is also feeling the heat from concerns over global warming. While it has invested heavily in Integrated Gasification Combined Cycle (IGCC), a technology that captures carbon dioxide from coal-fired electricity plants, environmentalists have another plan - just ban the use of coal.

This year, environmental activists have been successful in blocking the construction of a number of coal-fired power plants including 8 of 11 plants in Texas. The termination of the Texas power plants resulted in the cancellation of orders for GE's steam turbines worth hundreds of millions of dollars.
Tom's full commentary can be found here.
This post was written by National Center for Public Policy Research Executive Director David Almasi. To send comments to the author, write him at [email protected]. Please state if a letter is not for publication or if you prefer that it be published anonymously.

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