Corporate heavyweights push Obama climate plan

Washington, D.C., June 25, 2009 — In an open letter to President Obama and Congress, twenty of America’s largest corporations including Nike, Starbucks and Hewlett-Packard, stated: “Putting a price on carbon will drive investment into cost-saving, energy-saving technologies, and will create the next wave of jobs in the new energy economy.”

The “We Can Lead” (www.wecanlead.org) campaign is part of an effort to lend support to President Obama’s climate change legislation, leading up to a key House vote Friday. At his press conference on Tuesday, Obama echoed the corporate leaders saying his “historic” climate change bill moving through the House would “transform the way we produce and use energy in America.”

Obama’s climate change bill, which is expected to narrowly pass, would encourage the use of clean energy such as solar and wind by mandating companies, particularly utilities, reduce their carbon emissions.

Speaking on CNBC Wednesday, Wall Street analysts Vince Farrel of Soleil Securities and Kevin Landis of Firsthand Capital Management had seven stock picks in the clean energy sector including large-cap solar plays Suntech Power and SunPower Corp.

CNBC guest Francis Gaskins calls wind power company Nacel Energy “a unique opportunity for investors interested in exposure to America’s fastest growing energy business – wind.”

Following expected passage in the House, the bill, known as the American Clean Energy and Security Act, moves to the Senate where the Democratic leadership has been drafting parallel legislation.

Previous articleMicrosoft Hohm to help utilities meet regulatory requirements
Next articleClimate bill nearing vote in House

No posts to display