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Category: Investment, Natural Gas
Senior Energy Industry Executive and Institutional Investor Karl W. Miller Made the Call: Cap and Trade is Dead!
By Senior Energy Industry Executive Karl W. Miller
February 3, 2010
Energy Commentary from Karl Miller - Read Bio and More info
Mr. Miller made the official call on December 17, 2009 that Cap and Trade was Dead. Mr. Miller followed up his analysis on December 27th confirming this fact. Both pieces of analysis are attached below.
Excerpt from Wall Street Journal February 2, 2010: "President Barack Obama said for the first time Tuesday that legislation that would require industries to pay for emissions of greenhouse gases may need to be separated from a more popular "green jobs" bill in the Senate, a maneuver that could kill what once had been one of the administration's top policy priorities."
For further reference readers should see Mr. Miller's analyis titled "Wall Street Backs Industry Icon Karl W. Miller on Bi-Partisan U.S. Energy Policy Initiatives" at the following weblink: http://www.investorideas.com/news/121909.asp
Investors can follow Senior Energy Industry Executive Karl W. Miller through the following RSS Feed: http://www.investorideas.com/RSS/feeds/Energy.xml
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December 27, 2009 –As Senior Energy Executive Karl W. Miller has previously advised, Cap and Trade is dead. There is still much work to be done to put a legitimate Energy Policy and Plan in place for the U.S.
Mr. Miller and other senior energy executives prevailed behind the curtain in their efforts to effectively take leadership of U.S. Energy Policy, saved the U.S. Natural gas industry politically in the process, killed Cap and Trade, and will now turn to reworking the flawed renewable energy plan, which is headed for complete financial disaster and billions of dollars of taxpayer waste.
Cap and Trade is Dead: http://www.politico.com/news/stories/1209/30984.html
Mr. Miller and other energy industry leaders delivered the correct message to Washington to protect U.S. Economy, however unpopular it might be with the far left parties, Cap and Trade had to go.
It is time to move on to more critical issues facing America.
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December 17, 2009--Karl W. Miller, a senior energy executive and institutional investor, today issued the following statement through his advisors that Washington despite monumental efforts by Mr. Miller and industry executives to focus both the democratic and republican party leadership attention to put a credible energy plan in place and focus on investing in America, the current administration has made it clear that they are in essence "hell bent" on jamming a healthcare bill through the Senate at any cost, despite the fact that a majority of the elected officials have not even read the bill and its numerous amendments.
The net effect is that the currently flawed renewable energy proposals and flawed proposed cap and trade and other energy initiatives so desperately in need of overhaul for the U.S., a purported global super power have effectively been killed.
Thus the final evidence that the Copenhagen climate forum, Opec meetings, and any other global cartels and energy discussions will have absolutely no effect on the U.S. Energy market.
Finally, while the Democrats have a clear majority in Washington, the fact has become clear to both Democrats, Republicans, and Independents that the U.S. is without a true CEO / Leader.
All parties are openly admitting that Obama has no understanding of any of the key issues, has never had control of Nancy Pelosi or Harry Reid, and simply ill equipped for the CEO job of running the United States.
The bi-partisan opinion has now been formed that the U.S.energy policy, financial reform, and global policy efforts are completely devoid of any rational, credible or sustainable executable action plans.
Rhetoric has been worn out and bi-partisan experts have now come to the conclusion that America is in deep trouble, well beyond the current unemployment rate and ludicrous healthcare debate raging in Washington.
What is most concerning to industry experts is that the U.S. is fast becoming a global embarrassment and being portrayed as weak, disorganized, and economically vulnerable. Thus it seems to be a foregone conclusion that the U.S. Dollar will again come under attack and quickly become a secondary currency to the Euro and Asian currency's.
Where does this leave the U.S. Energy market? Well simply put, to fend for itself, which is why Exxon quickly made the move to purchase XTO and why other major U.S. Integrated and large independents will come together either in merger or through unsolicited acquisitions. The simple driver will be to insure their survival amid a completely devoid leadership vacuum in Washington which will continue for several years.
It does not matter whether one is Democrat, Republican, Independent, or some other affiliation. It is about being an American and focusing on security of energy for America.
Mr. Millers Office
About the Author:
Mr. Miller is a globally recognized energy executive and institutional investor with a balance of both financial and energy sector expertise. Mr. Miller began his career on Wall Street during the 1980s and has an extensive background in banking, commodities trading and risk management.
Mr. Miller is acclaimed for multiple ground breaking market calls and investments, including the U.K switching from a net gas exporter to a net gas importer in 2000, called the California energy crisis in 2001, called the Ethanol and Bio diesel boom and bust in 2007, called the renewable energy boom and bust cycle underway in 2008, and most recently called the revival of natural gas in the United States in 2009.
Mr. Miller has a long history in the global energy business and has held a variety of executive management positions both within the United States, Europe and Asia. Mr. Miller has bid on over $25 billion in energy related assets during his career.
Mr. Miller has built, restructured and managed energy businesses for major public energy companies on several continents, including PG&E Corporation, Electricitie de France, El Paso Energy, Enron Corporation and JPMorgan Chase.
Mr. Miller holds an MBA in Finance from the Kenan-Flagler Business School at The University of North Carolina, Chapel Hill. Mr. Miller also holds a B.A. in Accounting from Catholic University located in Washington DC.
Disclaimer:
This column, Energy Commentary from Karl Miller, is the opinion of Karl Miller.
Content found in the articles is subject to the terms found in the InvestorIdeas.com disclaimer and does not represent a recommendation of investment advice. Investors should seek the advice of a qualified investment professional prior to making any investment decisions.
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