Even More Money For Coal!

A friend with a close understanding of the utility industry adds a postscript to this post of mine about the giveaway to coal that may be embedded in the Democrats' final cap-and-trade scheme. Not only would the coal industry get free permits for emissions, but

[T]he permits would be capitalized as an asset on the coal utilities balance sheet and therefore would be part of the cost they can recover from consumers under which the Public Utility Commissions determine cost plus rate of return (even though they get the allowances for free).