Ali Velshi Hails CO2 Regulation as 'Right Direction'

Despite additional costs to the consumer and more government intrusion, mandatory carbon regulation is the "right direction" according to CNN's Ali Velshi.

Velshi's April 12 "American Morning" report detailed ConocoPhillips CEO James Mulva's embrace of "national regulation of greenhouse gas emissions."

"It is a big step. It's one that the two biggest U.S. oil companies -- ExxonMobil and Chevron -- have been fighting," said Velshi.

While the CNN reporter did say Mulva's decision to increase funding for alternative and renewable fuels would drive pump costs higher, it was just fine with him.

The company's moves are "big, big steps in, you know, what I'm not afraid to say is the right direction," lauded Velshi.

Anchor Miles O'Brien also showed his support for regulations, as he said "implicit in this is a growing body of thought that it's good business."

Velshi agreed, "Absolutely, it's good business. People won't have to make choices."

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