National Energy Policy in 50 Pieces
When it comes to energy policy, many Americans underestimate the power of state governments and overestimate the influence of the federal government. If anyone thinks Washington can develop a cohesive energy policy, forget it. It's just not in Washington's DNA. The only power the president and Congress have is the ability to offer incentives and issue regulations. That's about it.
For those not sure about the immense powers of state governments, look at what just happened to Duke Energy (DUK). North Carolina reached into a private enterprise and demanded the chairman, president, CEO and two executive officers be relieved of their duties. The state demanded that the company change its board of directors and its corporate governance....625 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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