Here Comes the Downturn Denialism

We have not played with the Denialists’ Deck of Cards for some time! Let’s pick them up again, because the economic downturn gives all sorts of businesses the opportunity to play the “Bear Market” card.

i-e9c987e71f4415eb0c74e05a507bc833-qc.jpgStephen Power brings it in today’s Wall Street Journal:

“We know something needs to be done [to cut emissions], but we’ve got to get the economy on its feet before we do something economically irrational,” said Mike Morris, chief executive of American Electric Power Co. of Columbus, Ohio. Mr. Morris and other executives fear lawmakers will use revenue from pollution permits to pay down the federal deficit.

“The likelihood that they would try to take these revenues for other purposes, particularly in an economic downturn, is great,” says James Rogers, chief executive of North Carolina-based Duke Energy Corp.

Do not feel so bad for these guys, because when the markets are up, they play “Bull Market.” If the market is doing well, you should not mess with success.


  1. Wow. Yep, from reading the article it seems clear that many industrialists feel NEVER is a good time to spend money on researching/implementing alternative fuel sources and clean emissions.

  2. I really wonder about industrialists complaining about spending money on emissions control. Haven’t they thought about not spending so much money on fuel?

  3. Slippery tricksy bastards they are. It’s like they’ve got the game rigged.

    (Looks at the Abramoff scandal and the abject failure of McCain-Feingold. Looks at the name of “McCain-Feingold”.)


  4. You know, I’ve noticed one card that is still missing from your deck: the “Disgruntled Former Associate”.

    As in, “That person is not a brave whistleblower, risking their reputation to blow the cover on rampant corruption in the industry. They’re a disgruntled former employee/business partner/spouse! They’re just acting on a grudge and can’t be trusted!”

    I’m sure you could word it much better. Regardless, I’ve seen this quite often (it’s a standard tactic businesses use to discredit former employees who try to expose their questionable business practices).

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