Enviro-Whack jobs are celebrating the demise of America‘s most abundant energy resource, coal. Because coal has just been given the death sentence by Obama and the EPA just as Obama planned.
“So, if somebody wants to build a coal plant, they can,” said candidate Obama “it’s just that it will bankrupt them, because they are going to be charged a huge sum for all that greenhouse gas that’s being emitted.”
The EPA has issued new proposed rules on carbon emissions that will help Obama keep one campaign promise: Builders of new coal fired power plants won’t be prevented from building coal-fired power plants, they’ll just go bankrupt if they try.
"If old King Coal isn't dead already, he's certainly teetering toward life support," said Frank O'Donnell, president Clean Air Watch in Washington.
“Proposed emission rules for new power plants unveiled by the U.S. Environmental Protection Agency (EPA) on March 27 spell the gradual demise of coal-fired power generation and entrench the current cost advantage for natural gas,” reports Reuters’ John Kemp.
If Obama can’t get the tax portion of the Cap and Tax, I guess he figures he might just as well get the cap portion done. The problem of course is that you and I are going to pay higher electric rates because of it.
“The agency's proposed rule, signed yesterday, would set a standard well within the capability of modern gas-fired plants but impossible for coal-fired units to meet unless they employ (unproven) carbon capture and storage (CCS) technology.”
Even before this proposed new rule, Obama has been using a variety of stratagems to stop the construction of new coal-fired plants.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 22nd, 2014 | John Ransom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 21st, 2014 | John Ransom