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"Not In My Backyard" Syndrome Presents Challenges to New Energy Plants or Facilities, Says RBC Capital Markets Survey

Posted on: Friday, 16 June 2006, 09:01 CDT

NEW YORK, June 16 /PRNewswire-FirstCall/ -- Twenty-five per cent of Americans said they oppose any type of energy plant or facility in their hometown, including solar plants or wind terminals, according to a nationwide survey of 1,001 Americans released by RBC Capital Markets. These opponents to new plants or facilities were also more likely to believe that high energy prices are temporary.

"Call it NIMBY-ism for the energy sector - 'Not in My Backyard,'" said RBC Capital Markets analyst Kurt Hallead. "While these opponents represent a minority view, it's a significant minority, and underscores how very difficult it is to invest in new energy sources. We need to do more to educate Americans about the severity of our energy dependence."

According to all survey respondents, the two energy sources that were most accepted in hometowns were solar plants (64 per cent) and wind terminals (60 per cent). Surprisingly, clean-coals plants were ranked third, with 31 per cent support.

"Coal as an energy option should be explored and talked about more, particularly the technologies available today that can make coal plants more environmentally friendly," said RBC Capital Markets analyst Scott Hanold. "The U.S. is one of the largest coal-reserve holders in the world, and Americans cite coal as the energy option they would prefer in their hometowns, after solar and wind and before oil and nuclear."

The one-in-four group that opposed any type of energy facility in their hometown also held other views that varied significantly from the majority:

- They were less interested in candidates' positions on energy issues in the 2004 election (43 per cent vs. 54 per cent) and were less motivated to learn about these positions the next time they vote (76 per cent vs. 87 per cent) - They were more likely to believe that high energy costs are temporary and will go away (30 per cent vs. 18 per cent) - They comprise mainly of women (67 per cent). Women are much more leery of nuclear power, with 65 per cent saying that this energy source scares them, compared to 33 per cent of men. Men would rather have a nuclear power plant (32 per cent) in their hometown than an oil refinery (25 per cent), while for women, nuclear power is last.

The RBC Capital Markets survey was conducted May 17 to 26, 2006 and included 1,001 online respondents. Stamford, CT-based InsightExpress assisted RBC Capital Markets in the survey. The margin of error was (+/-) 1.35 per cent.

About RBC Capital Markets Energy

RBC Capital Markets is the corporate and investment banking arm of RBC Financial Group. The firm is a significant petroleum and energy related industry advisor and underwriter to companies around the world, with complementary strengths in global fixed income origination and distribution business. In the past several years, it has led some of the largest equity financings in the North American energy sector. In Canada, RBC Capital Markets is proud to have several top rankings in energy-related research.

RBC Financial Group

CONTACT: Kevin Foster, RBC Capital Markets, (212) 428-6902,kevin.foster@rbccm.com; Loretta Healy, The Hubbell Group, (781) 878-8882,lhealy@hubbellgroup.com; Katherine Gay, RBC Capital Markets,(416) 974-6286, katherine.gay@rbccm.com;To request a free copy of this organization's annual report, please go tohttp://www.newswire.ca/ and click on Tools for Investors.Archived images on this organization are searchable through CNW PhotoArchive website at http://photos.newswire.ca/. Images are free to accreditedmembers of the media.

Source: PRNewswire-FirstCall

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