Monday, June 29, 2009

A Little Help For Friends

The Obama Administration knows who its friends are.

Exelon, the nation's largest nuclear power company, stands to rake in roughly an extra $1 billion to $1.5 billion a year if the House climate change bill passes, according to the company's own estimates. The House is expected to vote on the bill on Friday.

A memo produced for Exelon by Bernstein Research, and obtained by the Huffington Post, reports that Exelon CEO John Rowe recently told a gathering of investors and senior executives that the energy bill "will add $700 to $750 million to Exelon's annual revenues for every $10 per metric ton (MT) increase in the price of CO2 allowances." Prices will range between $15 and $18 per metric ton, the report estimates, "implying a positive earnings impact of $1 to $1.30 per share."

Read the full memo.

Exelon, with a major presence in Illinois, was an early backer of President Barack Obama's.
I love Chicago/Illinois politics a model of honesty to emulated around the land. What? Our President is a Chicago politician? You don't say. Well I'll be darned. How about that.

The Bill has yet to hit the Senate. You might want to let your Senators know how you feel and better yet what you think:

The Senate

1 comment:

Shiner said...

Odd that so few considered Obama's Chicago political connections to be glaringly suspect before voting him into office, is it not? He had no ties to Chicago yet he immediately re-located there to start his political career after graduating from Harvard.
Where better to kick-start a political career than in a city known to be corrupt? It took him awhile to woo the Daley machine but once he showed them how well he could play their game, they threw their support behind him, as reported back in '07 ( )

A good investment strategy would be to look at Obama's corporate supporters and start buying their stock. Cynicism might as well be profitable!