KKR's Henry Kravis May Save the Day Feb 28,2007

Leverage buyout artist Henry Kravis of KKR has apparently put together a deal to buy TXU. The deal was tentatively consummated after intense negotiations with environmentalists resulted in a commitment to cancel eight of the dirty coal-electric plants and allocate funds to other environmental efforts suggested by environmental groups. Kravis made the environmental commitments in return for support from the environmental groups for the regulatory approvals required to effectuate the buyout. Here are some links on the deal.

Texas Electric Utility and Open Pit Coal Company Rushes to Build 11 Dirty Coal Electric Plants

Ignoring growing concerns over global warming, Texas utility and open pit coal mining company TXU is rushing to build 11 dirty coal-fired electricity plants which will require an investment of $11 billion. The new dirty coal plants would represent a 3.5% increase in coal-electric plant capacity. Moreover, two days ago, TXU announced that in addition to 9,000 megawats of capacity in Texas, it is considering 7,000 to 14,000 more megawatts of capacity in other parts of the ocuntry, possibly including the Northeast and Midwest.

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solarshingles profile image

solarshingles 8 years ago from london

They value their cash much more than the future of their children...

And who is to blame?

Only the Government! They are the only authority to decide what is allowed and what is not...and obviously mass pollution is still a regular way of our life.

Ralph Deeds profile image

Ralph Deeds 8 years ago Author

Bush failed to support a rational, coherent energy policy. But both are to blame, Bush and the companies who bribed him with campaign contributions.

robie2 profile image

robie2 8 years ago from Central New Jersey

ahh Texas--home of Enron and the state with the worst record of pollution in the nation. Hmmmm wonder if the Bush family and administration cronies own a lot of TXU stock?LOL Just goes to show you that everything IS mbigger in Texas!!

Thanks for this Ralph and I hope you'll keep us updated with any late breaking news.

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