Cap and Trade Claims the Pee Dee As It's First Victim ...

Santee-Cooper Nixes Kingsburg Coal Plant ........

Following up on a post from this weekend, it became official today.... Santee-Cooper's governing board decided to delay or scrap the planned $2.2 Billion Coal Burning Plant in Southern Florence County. Though not a total surprise, especially since the board chairman let the cat ou tof the bag before the weekend, there appears to be one obvious reason for Santee-Cooper's decision - Cap and Trade.

Now, Santee-Cooper did list three main reasons: regulations (Cap & Trade), the slowing economy, and the possibility of Duke Power servicing some electric co-ops that currently use Santee-Cooper. The second and third reasons really don't make a whole lot of sense. Yes, the economy has slowed down, but usage will never permanently drop off. New power sources have to be made - be it Nuclear , water, wind , whatever - or we will NEVER be able to attract coprporations here. Losing customers to Duke Power is the same argument, except it's only 4 or 5 small co-ops, which isn't enough to drop an entire plant. In the relationship between business and government, it's pretty simple how it works... Government passes legislation, and business makes it's decisions based on that.

Now while environmentalists are cheering today, they probably don't deserve all the credit , if any. I've had plenty of experience in fighting big business from developing in the wrong spots. Remember WalMart in West Florence and RED? I was on the board. Businesses abandon developments for one of three reasons: Will of the People, Environmental Factors, or Expense. RED never had any of the three, people wanted a WalMart on the westside, the permits were a foregone conclusion, and they price was right. Even though we has another and more suitable location available, they knew they could ram it down out thoats, and they did. The same went here.

Much like the complaints against Sonia Sotomayor, this plant was designed like hundreds that are already online, so permitting would not have been a problem, as far as Will of the People, it's a no-brainer .... The majority of voters here did want the plant, probably at least 2-1, but I have no polls to back it up. That's just my gut feeling. That leaves us with one conclusion....

Lie most things is business, it was the money. Since 2006, when it was first introduced, Santee-Cooper was up against the clock. The approval process got delayed just enough for the Democrats in DC to take charge and pass Cap & Trade, making the expense just too great to build, despite having $200 million in materials just sitting there, waiting to be used. Lots of companies have had to make major decisions based on the new administration, and the changes coming with it. Wayne Huizenga had to rush to sell the Miami Dolphins because he was worried about capital gains taxes skyrocketing under Obama. This is just another business decision, but it will cost us locally a lot.

Let me give you an equivalent project to the Coal Plant in terms of size.... Picture the new Dallas Cowboys stadium being built between Pamplico and Johnsonville.....That is the same size in terms of cost. A $2.2 Billion injection of money into Lower Florence County - which has almost nothing left now, besides Nan Ya Plastics in Lake City - is almost unfathomable. Yes, there would be only a couple hundred permanent jobs at the plant, and many people would be moved into the area, but that's like saying we should close down Darlington Speedway because they onyl are open one week a year. There are plenty of jobs outside that it would create. When I was at Enterprise Rent a Car, we opened an office just on the strength of CP&L's Robinson Nuclear Plant. They need cars for trips, they need lunch, they need dry cleaners, supermarkets, gas and a place to live. Ancillary expenses, class.... In an area where unemployemnt is probably close to 20%, this plant was probably a Godsend financially.

Like they said, Santee-Cooper has delayed the plant. It is likely never going to be built, but the decision is still there - how are you going to meet you future power needs? Will a Nuclear Plant go where the Coal Plant was going to go? Where are we going from here, and does it include Lower Florence County? I can't blame them for stopping the plan. A couple days ago, I was arguing that the Health Care bill was too much. It's not their fault.... Don't blame the conservationists - that's what they are there for, and sometimes, it good they are...If you want to place blame, I'll give you three words - Cap and Trade.

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