A Green Coal Baron?

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When I met with Jim Rogers one day this spring, he tossed back two double espressos in a single hour. A charming and natty 60-year-old, Rogers is the chief executive of the electric company Duke Energy. But he has none of the macho, cowboy stolidity you might expect in an energy C.E.O. Instead, he lives to brainstorm. He spends more than half his time on the road, a perennial fixture at wonky gatherings like the Davos World Economic Forum and the Clinton Global Initiative, corralling “clean energy” thinkers and listening eagerly to their ideas. The day we met, he was brimming with enthusiasm for a new approach to solar power. Solar is currently too expensive to make economic sense, according to Rogers, because the cost to put panels on a roof is greater than what a household would save on electricity. But what if Duke bought panels en masse, driving the price down, and installed them itself — free?

“So we have 500,000 solar units on the roofs of our customers,” he said. “We install them, we maintain them and we dispatch them, just like it was a power plant!” He did some quick math: he could get maybe 1,000 megawatts out of that system, enough to permanently shutter one of the company’s older power plants. He shot me a toothy grin.

Even in this era of green evangelism, Rogers is a genuine anomaly. As the head of Duke Energy, with its dozens of coal-burning electric plants scattered around the Midwest and the Carolinas, he represents one of the country’s biggest sources of greenhouse gases. The company pumps 100 million tons of carbon dioxide into the atmosphere each year, making it the third-largest corporate emitter in the United States.

Yet Rogers, who makes $10 million a year, is also one of the electricity industry’s most vocal environmentalists. For years, he has opened his doors to the kinds of green activists who would give palpitations to most energy C.E.O.’s. In March, he had breakfast with James Lovelock, the originator of the Gaia theory, which regards the earth as a single, living organism, to discuss whether species can adapt to a warmer earth. In April, James Hansen, a climatologist at NASA and one of the first scientists to publicly warn about global warming, wrote an open letter urging Rogers to stop burning coal — so Rogers took him out for a three-hour dinner in Manhattan. “I would dare say that no one in the industry would talk to Lovelock and Hansen,” Rogers told me. Last year, Rogers astonished his board when he presented his plan to “decarbonize” Duke Energy by 2050 — in effect, to retool the utility so that it emits very little carbon dioxide.

http://www.nytimes.com/2008/06/22/magazine/22Rogers-t.html?th&emc=th