"Forget the science debate," says Cinergy Corp. CEO James E. Rogers, who was at the meeting. "The regulations will change someday. And if we're not ready, we're in trouble."
A surprising number of companies in old industries such as oil and materials as well as high tech are preparing for this profoundly altered world. They are moving swiftly to measure and slash their greenhouse gas emissions. And they are doing it despite the Bush Administration's opposition to mandatory curbs.This change isn't being driven by any sudden boardroom conversion to environmentalism. It's all about hard-nosed business calculations.
"If we stonewall this thing to five years out, all of a sudden the cost to us and ultimately to our consumers can be gigantic," warns Rogers, who will manage 20 coal-fired power plants if Cinergy's pending merger with Duke Energy is completed next year.
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