Tax Reform in This Election Year: It's Not Likely
Which Credit Card Rewards Does the IRS Care About?The Washington Post reports that pension fund managers representing $1 trillion have petitioned the Securities and Exchange Commission (SEC) to required public companies to disclose the impact of global warming on their business prospects. If the SEC agrees, the change could threaten investors in utility stocks -- which are among the biggest private sources of carbon dioxide emissions that cause global warming.
Here's a list of utility stocks which could be most affected:
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American Electric Power (NYSE: AEP). AEP produced 145.4 million tons of carbon dioxide in 2006. In Europe, where legislation already limits carbon dioxide emissions, allowances for a ton of carbon dioxide sell or 20.5 euros, or about $28.50. So if its 2006 carbon dioxide had been emitted in Europe, AEP would have had to pay over $4 billion.
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Dominion Resources (NYSE: D)
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Xcel Energy (NYSE: XEL)
Coal producer, Peabody Energy Corp. (NYSE: BTU) could also be among those companies affected.
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