Counsel to Counsel - May 2008 - (Page 31)

ENErGy COMPANIES AND CLIMATE CHANGE rEGuLATION Energy The energy industry is at the center of legal, regulatory and social upheaval. Lawsuits blame entire industry sectors for natural disasters, and legislation increasingly holds companies accountable for safety breaches, while renewable energy and clean technologies offer challenges as well as hope. Corporate counsel will play key roles as these concerns and opportunities evolve. All energy companies, and particularly coal producers, must deal proactively with the likely Congressional passage of climate change legislation to reduce greenhouse gas emissions. In early 2008, the legislative proposal with the most support, America’s Climate Security Act of 2007 (commonly called the LiebermanWarner Act), would require all industry sectors to reduce greenhouse gas emissions 15 percent from 2005 levels by 2015, and up to 70 percent by 2050. The act does not single out any particular energy source, instead imposing an economywide carbon dioxide cap-and-trade system. Other proposals take different approaches, including incentives for specific technologies that reduce greenhouse gas emissions. A primary concern about climate change legislation is its impact on the U.S. economy. Coal provides over half of America’s electricity needs, and if new legislation targets coal use, every segment of our economy will suffer. Corporate counsel from coal and utility companies can and should advocate industry-neutral approaches through policy initiatives that capitalize on the size of America’s coal reserves (many claim enough to last some 200 years at current usage) and promote the technologies available to reduce carbon footprints from coal use. One of the best examples is integrated gasification combined cycle (IGCC) technology, which can be used in combination with carbon capture and sequestration to eliminate the emission of greenhouse gases from coal-fired plants. Unfortunately, recent budget and political concerns have put federal funding for the development and commercialization of these technologies in jeopardy, further demonstrating the need for strong industry advocacy to shape climate change regulation. Chauncey S.r. Curtz Partner, Business Litigation and Chair, Natural Resources Group chauncey.curtz@dinslaw.com Peer Review Rated Dinsmore & Shohl LLP martindale.com/c2c May 2008 horizon issues 31 ©iStockphoto.com/Olivier Blondeau http://www.iStockphoto.com/Olivier http://www.martindale.com/c2c

Table of Contents Feed for the Digital Edition of Counsel to Counsel - May 2008

Counsel to Counsel - May 2008 Contents Harassment Policies NEC Corporation of America and Duane Morris LLP Lost or Stolen Data: Minimizing Fallout On-Boarding the Board Drafting Fair, Efficient and Enforceable Arbitration Agreements Responding to Counterfeit Products Crafting an English-Only Workplace Policy Distressed Debt: New Players, Global Sophistication Make Restructuring More Complex IP Confidential: Plan Ahead, Act Fast to Protect Your Trade Secrets Adverse Changes: Think Ahead in a Strained M&A Market Optimizing Web 2.0 Technology: Expanding Your Professional Network Union Pacific Railroad Company and Patton Boggs LLP Warming Warning: Develop Your Climate Change Strategy Now Risk Sharing: Expect New Obstacles and Expenses in Syndicated Loans E-Discovery in Action Diversification at the Gate Energy

Counsel to Counsel - May 2008

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