Merrill Lynch: don't mess with TXU
Call on Merrill Lynch
TXU , a Texas utility company, hopes to build 11 new coal-fired power plants, but first it needs to raise $11 billion to finance the proposed plants. The Texas plants are part of a growth strategy that could make TXU the biggest single corporate greenhouse gas emitter in the United States.
These new power plants would emit a whopping 78 million tons of carbon dioxide per year, and they have a projected lifespan of up to 50 years. With the help of Wall Street bankers, this global warming crime could happen sooner than you think!
We're following the money. Merrill Lynch is one of the banks helping TXU underwrite this dirty deal. They've already given more than $3 million in support of TXU's project. We need you to call and tell them to stop helping TXU destroy our climate. Take action now!
Join us in calling Merrill Lynch today!
TXU claims that these dirty plants are needed to meet Texas' energy needs, but independent analysis has shown that energy efficiency, renewables and demand management offer quicker, cheaper and cleaner energy alternatives to meet Texas' current and future needs.
Texas is already the country's largest emitter of greenhouse gases. TXU's proposed new power plants would:
- Put out more than the combined greenhouse gas emissions of 21 U.S. states.
TXU is awaiting state approval to begin construction, but with help from Texas Governor Rick Perry, who granted a "fast-track" approval process for his political donors at TXU, the company could have permits by April 2007.
However, the company still needs to secure financing a cool $11 billion worth and is currently soliciting funds from a series of banks. We are reaching out to those same banks and telling them to stay away from TXU's project.
We need your help. Please call Merrill Lynch and tell them to stop helping TXU finance its dirty coal power projects and instead adopt climate-friendly environmental and social policies.
Thank you for all that you do,
Global Finance Campaign
Rainforest Action Network
Merrill Lynch and TXU
Merrill Lynch CEO Stanley O'Neal
More than 600 of you called Dalton McGuinty on behalf of Grassy Narrows last week. Now we need your voices again.
Call Merrill Lynch!
Check out the Understory for some more background on TXU and their coal plants in Texas.
You can do more on TXU's coal power plants here.
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- This is not yet a press release, but it is an invitation to anyone
who is interested enough to want to participate or assist in
The OilPatch Democrats are attempting to arrange a debate regarding
the fast tracking of the proposed new coal-fired power plants. Best
case scenario would be if this attracts the attention of the
mainstream media and helps to get the general public aware of the
John Preston, Acting Director of OilPatch Democrats, is working on
getting a representative of TXU to participate by presenting the case
for these new plants. As one might guess, this is a delicate
negotiation, since the TXU rep almost certainly knows he is going to
be addressing an audience of people who are already opposed to the
plan, or at least, not on his side.
Any group with a dog in that fight...um...I mean, an interest in this
subject is invited to co-sponsor, especially if you can assist with
such things as finding a venue (we still don't know how many people
might attend) disseminating press releases, inviting the press (no
firm date yet, so no real press release yet) or a hundred other
things that will make this happen.
[thing is, as OilPatch Democrats, we all have full-time day jobs in
careers that have nothing to do with event planning]
Feel free to forward this invitation to anyone on your mailing list
who represents an environmental activist group, progressive political
interest group or otherwise would like to help make this event into
publicity for the cause.
As far as I know the date is set for Tuesday, February 6th.
From: "John Wm. Preston"
Sent: Jan 4, 2007 4:46 PM
THE GREAT DEBATE! Believe it or not we now have a commitment from
Jim Henley to serve as our moderatorthanks to Jim Porter; a
commitment from Tom "Smitty" Smith of Public Citizen to debate for
the environmentalist side (Smitty was the guy recently in the news
presenting Gov. Coiffure with Santa Stockings filled with coal for
his support of fast tracking these coal plants); but still working on
the TXU representative. Have been in contact with Curtis Siedlits,
VP of TXU, and looks positive they will participate. Have asked a
few folks if they would join as co-sponsors of this debate. One of
the best responses has come from Randall Morton of the Progressive
Forum. His response is included in its entirety:
- - - - - - - - - - - - - - - - -
Thanks for your enthusiasm. Admire your energy with the Demo
Oilers. And beautiful newsletter and calendar, thanks for including
our events. But I don't think The Progressive Forum can be a
promotional partner, we get many many requests and we don't yet know
how to be fair to everyone, like some of the online progressive
newsletters do. Very sorry. Until we do, think we need to stick to
our knitting. Please forgive me for offering an unrequested idea
from my background as a PR professional. I think the debate has a
lot of merit if you can get a TXU representative and change the venue
to a public institution such as the Menil. You could ask a columnist
like Rick Casey to attend as an audience member and cover it, saying
you hope the debate should uncover new insights. I think the Sussman
law firm is fighting them for free, you could consult with them for
participation, a second panel member, attendance, or sponsorship.
You could Google the Chronicle to confirm this is the correct law
firm. The Mayor's office Elena Marks has an interest in raising
awareness, she might suggest participants. Rick Casey participated in
a discussion on SPA's play 1984 at the Menil as a panel member.
Also, I think Eric Berger covers the environment, but I'm not sure.
You could Google the Chronicle's archive to see who has been writing
about TXU in the Chronicle and invite them. Rick Casey covered the
issue of under funded state parks when the Sierra Club raised the
issue publicly. CEC should be interested in announcing the debate on
their Friday newsletter to the environmentalists, another good source
for attendance, I think your debate has the potential for large
attendance if you can get a TXU rep. It's a really big issue, and I
can't think of any other public debate on the issue. I think you've
really hit on something hot. Keep at it. Thanks.
- - - - - - - - - - - - - - - - - - - - -
The problem is how to do all of the above? The venue we had
discussedMayuri'sprobably would be too small. I can't do all of
this. Who would be willing to pick one part of this and get it
done? Venue? Rick Casey? Sussman Law Firm? Anything Else? If we
break it down, we can get it done. Peace friends and congratulations
on a great idea for starting the new year for the Oil Patch