Pulling the Plug on Oil

It seems incredible, but residents of New England are finding that they need oil to keep their lights on. In an era when most of the nation has removed oil from electric grids, New England's grid continues to rely on oil-fired power plants. While this may be a big win for power producers such as NRG Energy (NRG), Exelon (EXC) and others, it should be an embarrassment to advocates of renewable energy, and it will hurt consumers. In the end, consumers will pay, or they will be disconnected.

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