I have previously described Exxon Mobil as the anti-Enron. In an opinion-page editorial in yesterday’s Houston Chronicle, I contrasted the two companies in terms of both energy strategy and public policy.

More could be said than is in the editorial (reprinted below). Enron’s first fraud, engineered by Andrew Fastow, came with the purchase of Zond Corporation, which was renamed Enron Wind Corporation and is now part of GE Energy. (This complicated story about a “qualifying facility” under federal energy law is told in McLean and Elkind’s The Smartest Guys in the Room, pp. 166–67 and Kurt Eichenwald’s Conspiracy of Fools, pp. 142–44.)

Enron Energy Services, the energy outsourcing division of Enron that so excited environmentalists (including Joe Romm, now blogging at Climate Progress), was one of the company’s biggest frauds.…

Chip Knappenberger was perhaps the first analyst to demonstrate the negligible impact on global temperatures that would result from unilateral U.S. adoption of the pending Waxman-Markey bill. Knappenberger showed that even if the U.S. cut its emissions by 83% (of the 2005 level) by the year 2050, and then capped them at that level indefinitely, the schedule of global temperature increases would only be postponed by about five years.

Naturally, supporters of strong government action argued that the whole point of Waxman-Markey was to give American negotiators credibility when they demanded reciprocal action from other countries; Paul Krugman says as much in a recent blog post. Yet this leads to the next major problem: If the whole world adopted the stringent emission cutbacks in Waxman-Markey, then the costs to the global economy would far outweigh any reasonable estimate of the benefits (measured in avoided climate damage).…

Is the proliferation of electronic devices in homes and offices causing a net increase or decrease in electricity consumption and greenhouse gas emissions?

This question has been a topic of heated controversy ever since 1999, when technology analyst Mark P. Mills published a study provocatively titled “The Internet Begins with Coal,” and co-authored with Peter Huber a Forbes column titled “Dig more coal – the PCs are coming.”

Others–notably Joe Romm and researchers at the Lawrence Berkeley National Laboratory–argued that the Internet was a minor contributor to electricity demand and potentially a major contributor to energy savings in such areas as supply chain management, telecommuting, and online purchasing.

Mills and Huber argued that digital networks, server farms, chip manufacture, and information technology had become  a new key driver of electricity demand. …

Supporters of the Waxman-Markey climate bill have not seriously disputed the extreme costs and the negligible benefits estimated by critics of the cap-and-trade proposal.  I must confess that I was expecting a real fight, but some very important markers seem to have been laid down in this legislative debate. Waxman-Markey supporters are going beyond the math to dispute the conclusion being drawn from the math. And that conclusion, which logically follows, is that cap-and-trade for carbon dioxide is a very bad deal.…