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A Report Finds that Reducing Diversity in America's Power Supply Would Significantly Harm the Economy
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(98 seconds)
-- How Will You Use This Story? --
(OPEN):
THE U-S CURRENTLY BENEFITS FROM ITS DIVERSE POWER-SUPPLY--AND MOVING
TOWARD A MUCH-LESS-DIVERSE PORTFOLIO OF FUEL AND TECHNOLOGIES IN
POWER-GENERATION WILL SIGNIFICANTLY HARM AMERICA'S ECONOMY. THAT'S
THE CONCLUSION OF A RECENTLY RELEASED STUDY BY "I-H-S CERA"
[LIKE "SEER-AH"] THAT EXAMINED A THEORETICAL SCENARIO
INVOLVING: MORE NATURAL-GAS AND RENEWABLE-ENERGY; LESS HYDROELECTRICITY;
AND NO MEANINGFUL CONTRIBUTION FROM COAL OR NUCLEAR-POWER. THE
COMPANY'S LAWRENCE MAKOVICH DIRECTED THE STUDY...
(MAKOVICH):
"SUCH FACTORS
AS TIGHTER ENVIRONMENTAL-REGULATIONS, MARKET-FLAWS THAT CHRONICALLY
DEPRESS WHOLESALE-POWER PRICES, AND UNPOPULAR OPINIONS OF SOME
POWER-SOURCES ARE, RIGHT NOW, MOVING THE U-S TOWARDS A SIGNIFICANT
REDUCTION IN POWER-SUPPLY DIVERSITY, IN THE YEARS AHEAD. THE
REDUCED-DIVERSITY CASE INCREASES WHOLESALE-POWER PRICES BY ABOUT
75-PERCENT--AND RETAIL-POWER PRICES BY ABOUT 25-PERCENT. THESE
PRICE-INCREASES REDUCE THE TYPICAL HOUSEHOLD'S ANNUAL DISPOSABLE-INCOME
BY OVER TWO-THOUSAND DOLLARS--AND PRODUCE ABOUT A MILLION FEWER
JOBS, IN THE U-S ECONOMY. ALTOGETHER, THESE ECONOMIC-IMPACTS SET
BACK AMERICA'S ANNUAL G-D-P BY NEARLY 200-BILLION DOLLARS."
(CLOSE):
THE STUDY ALSO POINTS OUT THAT IT'S EASY TO TAKE THE VALUE OF POWER-SUPPLY
DIVERSITY FOR GRANTED--AND, MAKOVICH SAYS, THAT'S WHY QUANTIFYING THE
CURRENT VALUE OF A DIVERSE POWER-GENERATING PORTFOLIO ADDS A KEY
MISSING-PIECE TO THE CURRENT ENERGY-POLICY DIALOGUE. FOR MORE
INFORMATION ON THE STUDY, VISIT
"I-H-S"-DOT-COM.
