calpine
<div style="font-size: small; background-color: rgb(255, 255, 255); max-width: 100%; word-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;"><font size="4" face="Times New Roman"><b>===</b></font></div><div style="font-size: small; background-color: rgb(255, 255, 255); max-width: 100%; word-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;"><font size="4" face="Times New Roman">regulation newletter?</font></div><div style="background-color: rgb(255, 255, 255); max-width: 100%; overflow-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;"><font face="Times New Roman" size="4"><a href="https://www.calpinesolutions.com/pdf/regulatory/CS%20Regulatory%20Bulletin%20February%202022.pdf">https://www.calpinesolutions.com/pdf/regulatory/CS%20Regulatory%20Bulletin%20February%202022.pdf</a></font></div><div style="background-color: rgb(255, 255, 255); max-width: 100%; overflow-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;">neg rating high</div><div style="background-color: rgb(255, 255, 255); max-width: 100%; overflow-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;">...pPresident Biden signed an executive
order on December 8, 2021 directing the
federal government to slash its carbon
emissions by 65% by 2030 and achieve
net-zero emissions by 2050, building on
his pledge to achieve 50% to 52% GHG
reductions from 2005 levels by 2030.
(See our April 2021 Regulatory Bulletin,
Sec. 2.1b.)
The EO also reestablishes the Office of the
Federal Chief Sustainability Officer within
the White House Council on Environmental
Quality, tasked with implementing the order
as well as the Federal Sustainability Plan.
Biden’s plan for a zero-carbon federal
government by 2050....</div><div style="background-color: rgb(255, 255, 255); max-width: 100%; overflow-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;">...as reported in the January 2022
Regulatory Bulletin, <b>Arizona House Bill
2101</b> repeals the sections of the Arizona
Statute that declare competitive energy
markets with divested utilities as the
preferred energy policy.
While the political landscape still looks
bleak for the opponents of this bill, as
anticipated the political entities that would
normally be on polar opposites of an issue
have come together in opposition.
Opponents on the left of the aisle take
issue with Salt River Project’s roof-top
solar policies, the perceived impact on
renewable energy, and a general
suspicion of utilities.
Opponents on the right take issue with
repealing competitive markets and
freedom of choice policies.</div><div style="font-size: small; background-color: rgb(255, 255, 255); max-width: 100%; word-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;"><font size="4" face="Times New Roman"><b>===</b></font></div><div style="font-size: small; background-color: rgb(255, 255, 255); max-width: 100%; word-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;"><font size="4" face="Times New Roman"><b>
</b></font></div><div style="font-size: small; background-color: rgb(255, 255, 255); max-width: 100%; word-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;"><font size="4" face="Times New Roman"><b>Chevron Corp is also a big player in fracking, boasts four Bohemians,</b> starting with the many connections of Samuel Armacost. Armacost has held lead positions for Chevron Corporation, BankAmerica Corporation Merrill Lynch Capital Markets, and Weiss, Peck & Greer L.L.C.(corporate buy-outs). From 1998 to 2010 he was the chairman of SRI International, formerly Stanford Research Institute, an independent research, technology development and commercialization organization, a member of the board of directors since 1981 (Bloomberg).</font></div><div style="font-size: small; background-color: rgb(255, 255, 255); max-width: 100%; word-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;"><font size="4" face="Times New Roman">In 2009 Armacost was sued by a coalition of Amazon groups for conflict of interest after it was revealed that while heading Chevron, he was the majority shareholder in Exponent Inc., “a pro-industry scientific consulting firm that was paid by Chevron to perform the study of cancer rates in Ecuador’s Amazon region where Texaco (now Chevron) was the exclusive operator of an oil concession from 1964 to 1990” (Reuters). Chevron lost the suit and it is still under appeal (Huffington Post).</font></div><div style="font-size: small; background-color: rgb(255, 255, 255); max-width: 100%; word-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;"><font size="4" face="Times New Roman">Kenneth T. Derr, a member of the prestigious Mandalay camp, joined the Chevron Corporation in 1960 and served a number of executive positions, including President, until 1999. Derr also served until 2008 as the<b> Chief Executive Officer of Calpine Corp, the largest natural gas fueled power producer in North America (calpine.com</b>), and is or has been a director of AT&T Corp., Citigroup Inc., Citigroup Finance Canada Inc. and CitiCorp (Bloomberg Business).</font></div><div style="font-size: small; background-color: rgb(255, 255, 255); max-width: 100%; word-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;"><font size="4" face="Times New Roman"><b>Derr served as Director of Halliburton Company, another fracking profiteer,</b> from 2001 to May, 2009. Halliburton Oil Well Cementing Company, renamed Halliburton Company in 1961, patented a fracking process in 1949 that earned Halliburton an exclusive license for the process in Texas and Oklahoma (Montgomery, et al). Mr. Derr has been in a position to effectively promote the fracking technology during its recent spike, both as a producer and one of the largest gas consumers.</font></div><div style="font-size: small; background-color: rgb(255, 255, 255); max-width: 100%; word-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;"><font size="4" face="Times New Roman">Succeeding Derr in 2000 as Chairman of the Board and Chief Executive Officer of Chevron, then Chevron/Texaco after their 2001 merger was David O´Reilly also, conveniently, a Mandalay campmate.</font></div><div style="font-size: small; background-color: rgb(255, 255, 255); max-width: 100%; word-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;"><font size="4" face="Times New Roman">Before taking over as CEO, O’Reilly held a number of executive positions, culminating in Senior Vice-President and Chief Operating Officer of Chevron Chemical Company. He retired from Chevron end of 2009 (Bloomberg).</font></div><div style="font-size: small; background-color: rgb(255, 255, 255); max-width: 100%; word-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;"><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">Besides Bohemian Club, Derr and O’Reilly both serve as Directors of the American Petroleum Institute, and between them hold membership in some fourteen business associations, including The Business Council, The Business Roundtable, Council on Foreign Relations, Hoover Institution, Institute for International Economics, JPMorgan International Council, World Economic Forum’s International Business Council, and the Trilateral Commission.</font></div><div style="font-size: small; background-color: rgb(255, 255, 255); max-width: 100%; word-wrap: break-word; line-height: 1.65; margin: 0px 0px 1em; padding: 0px;"><font size="4" face="Times New Roman">J. Dennis Bonney, a Caveman, “served Chevron Corporation in various capacities from 1960 to 1987, including Vice President with responsibilities for worldwide logistics and trading, international production, corporate planning, European refining and marketing, Indonesian oil exploration and production and diversified investments. Mr. Bonney retired from Chevron Corporation in 1995” (Bloomberg).</font></div>