Or, do they take and then give? It appears to be a vicious cycle with no beginning or end.
For the last four years, President Obama and his EPA have waged a war on coal. Though they deny it, their regulations have cost thousands of miners their jobs, and hundreds of coal-fueled power plants are scheduled to be closed within the next few years. On January 7, Georgia Power announced that it will “shut down 15 coal and oil-fired units, cutting nearly one-sixth of its power grid capacity to comply with federal rules aimed at reducing air pollution.” This, the latest in a string of plant-closure announcements, will take away nearly 500 jobs. Over the next five years, the North American Electric Reliability Corporation forecasts closures of plants that currently produce 20 percent of the nation’s coal-fueled generation.
The Atlanta-Journal Constitution report cites the closures come “after the utility and parent Southern Co. spent years unsuccessfully fighting the regulations.” The regulatory hit to the coal industry is tough to deny: “Currently, the amount of coal that Georgia Power uses to produce electricity stands at 47 percent, down from 70 percent five years ago.”
The government has taken away.
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for January 28th 2014 | John Ransom
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for January 26th, 2014 | John Ransom