Summary: The largest environmental settlement in Justice Department history was announced Tuesday. American Electric Power, based in the Ohio River Valley and one of the largest power producers in the nation, agreed to install $4.6 billion in equipment to reduce emissions at coal-fired power plants in Ohio, West Virginia, Virginia, Indiana and Kentucky. Janet Reno filed the suit eight years ago and accused AEP of violating the Clean Air Act by failing to install required equipment. The case was brought on behalf of the Environmental Protection Agency. AEP was trying to skirt the law by claiming they had not made any “major modifications” and the law says unless you make “major modifications” you do not have to install the most up-to-date equipment.
My Take: Interesting this case was filed before the whole global warming phenomenon really took off. It just goes to show how bad things really were (and are). Also, highlights the downside of a loosely regulated economy – business will take whatever steps are necessary to maximize profit. Who can really say they are against laws like this?
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