Venezuela bans billboard lighting during crisis
CARACAS, VENEZUELA - Venezuela has banned illuminated billboards as the country struggles with severe electricity shortages.
It's the latest measure aimed at reducing power consumption, which has become a top priority for President Hugo Chavez.
Chavez blames the shortages on a months-long drought attributed to changed weather patterns due to the El Nino phenomenon in the Pacific.
Water levels have fallen to critical lows behind the Guri Dam, which supplies roughly 70 percent of Venezuela's electricity.
Government opponents accuse Chavez of failing to invest enough in electrical projects to meet growing demand over the last decade.
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When paying $1 for a coal power plant is still paying too much
SAN JUAN - One dollar. That’s how much an aging New Mexico coal plant is worth. And by some estimates, even that may be too much.
Acme Equities LLC, a New York-based holding company, is in talks to buy the 847-megawatt San Juan Generating Station for $1, after four of its five owners decided to shut it down. The fifth owner, the nearby city of Farmington, says it’s pursuing the bargain-basement deal with Acme to avoid losing about 1,600 direct and indirect jobs in the area.
We respectfully disagree with the notion that the plant is not economical
Acme’s interest comes as others…
