Does this apply to electric power generation companies?
A lot of businesses don't have significant emissions, particularly those which are totally electric in operation. The greenhouse gas emitter would be the power plants supplying them with electricity.
Electricity is a regulated utility; the power companies might not be able to pass this on, due to the need to get approval to raise rates and fees.
That means that after-tax profits decline. But utilities are one of the main investment vehicles for elderly Americans, because they (normally) pay dividends. The end result: decreased income for elderly people.
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