Who is ADAGE?

ADAGE LLC is a limited liability company formed as a joint venture between Duke Energy and Areva, two of the large global corporations that control the world market for energy.

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Who is Areva? Areva is a multinational corporation active primarily in the energy and mining industries. Its main shareholder is the French-owned company CEA, but the German company Siemens is a large minority owner. Areva is on CNN's list of the Global 500, which lists Areva as the 11th largest energy corporation in the world. Annual Revenue: 19.3 billion dollars Currently doing business in over 100 countries worldwide.

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Who is Duke Energy? Duke Energy (NYSE: DUK) is based in Charlotte, N.C. It is the the nation's third largest electric utility, with 20 coal burning power plants that together produce 100 million tons of carbon dioxide every year. Duke Energy also provides natural gas services and is venturing into wind, solar and biomass. Duke Energy’s International operations are located in the Central and South American countries of Argentina, Brazil, Ecuador, El Salvador, Guatemala and Peru.

60 Minutes Examines Duke Energy's Carbon Footprint

60 Minutes aired an interview with Jim Rogers, CEO of Duke Energy, called Powered by Coal. (Alternate URL for Powered by Coal.)

In the introduction, Scott Pelly states,

"A few days ago, the Obama administration declared, for the first time, that CO2 (carbon dioxide) is a threat to human health and it plans to impose limits."

In the interview Rogers stated, ""We are one of the major emitters (of CO2). ...Our goal line is substantially to reduce our carbon footprint, to de-carbonize our business, by 2050."

 
This admirable goal raises the question, why is ADAGE/Duke/Areva building new wood burning plants that will each release 248 tons of CO into the atmosphere every year?

And why isn't Duke Energy researching ways to capture and store carbon? When Scott Pelley asked Rogers how much Duke Energy has invested in carbon sequestration technology so far, Rogers said, "We have not invested any dollars in the technology, per say. We have spent a lot of time and money reviewing and analyzing the various technologies."

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