Don't they undertstand it is financially risky?

In Texas TXU are planning up to 11 new coal fired power stations.

Amongst people unhappy about this are environmentalists, christians, 
local people, some local politicians, a rock star and a film director.

And every other sane person on the planet. But when co2 emission regulations kick in they will be hit, so why are they taking the risk rather than investing in wind or energy efficiency?

More on the situation here. And also on this previous post with a video clip of some activists.

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