Breaking Wind – Quick hits from the industry for August 12, 2011

Items of interest:

1-Edison Mission Energy:  DJ Moody’s Lowers Edison Mission’s Cfr To B3; Outlook Negative (hat tip to Frank O’Hara)

….Probability of Default Rating, Downgraded to B3 from B2

….Corporate Family Rating, Downgraded to B3 from B2

….Senior Secured Bank Credit Facility, Downgraded to B3 from B2

….Senior Unsecured Regular Bond/Debenture, Downgraded to Caa1 from B3

(Gee … and just when they seemed to reach their Pinnacle!

2-Poor Mountain (Virginia):  The wind developer thinks it’s a great spot because “it already has TV and telephone towers on top plus easy access.”

Hollister Hartman, PhD thinks otherwise.

3-Texas beyond ecstatic … wind momentarily produced at 25% of capacity during recent peak demand!  As our Veep might say, Hey, when you only count on 8.4%, that’s a big effin deal.

(Evidently, it’s OK if everything is not big in Texas)4-Wind energy accounting:  Choose the answer you want then make up stuff!

To compare the cost of wind and coal energy, “the Michigan Public Service Commission study tacked a “carbon tax” onto the price of coal. Yet no such tax exists — either at the state or national level.”

5-Thanks to Jon Boone for pointing us to these excellent videos produced by the American Tradition Institute.

American Tradition Institute Colorado Lawsuit, Part 1 – Pollution Issues:

 

American Tradition Institute Colorado Lawsuit, Part 2 – Constitutionality:

 

 

 

 

 

 

 

 

 

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