Update: 11:59: This morning, EPA Administrator Gina McCarthy officially proposed the first-ever regulations limiting future power plants’ greenhouse gas emissions including standards that will require coal-burning plants to capture about 40% of their carbon dioxide emissions.
She falsely stated that new technology would permit coal-fired plants to open up and stay open. The new technology is unusable. More than 140 coal-fired plants have announced that they are shutting down. It will kill jobs and significantly raise electricity rates at a time when the economy is seeing an abysmal 1.8% growth.
Original Story: 04:52: Obama, who is essentially nationalizing much of our energy sector by abusing the power of his agencies, will issue the first of two rules aimed at shutting down the coal industry.
As part of his climate policy to fade out fossil fuels, Obama ordered the EPA to take steps to issue devastating coal regulations during a speech at Georgetown University this summer.
Thursday night, a new rule requiring future coal-burning plants to capture and store at least 40% of their carbon emissions was leaked to Politico.
The emerging technology to do that is so expensive and so inadequate that it effectively bans the building of coal plants.
Obama is regulating the coal industry out of existence which is what we do with nuclear, pipelines, fracking, leaving us with fewer and fewer resources to become energy-sustainable.
Obama is under the delusion that we will all be able to buy solar panels and windmills. Obama’s energy policies are making us more-and-more reliant on oil-producing nations who hate us.
A second rule due in June will close down most or all of the thousands of existing power plants.
Coal-generated electricity is already down to about 36% from 42% in 2009 with utilities buying 90% of the coal in the country. States that use coal to fuel their homes will see huge increases in their bills. Coal is the cheapest form of energy and is a fraction of the cost of gas, the next cheapest.
The Obama administration wants to bolster its climate creds with the UN but the people who lose their jobs or can’t afford to heat their homes are out of luck.
Congress, who should be controlling this move, was locked out by Obama’s inappropriate power grab through the EPA. Congress failed to pass Cap & Trade because the people did not want it so Mr. Obama is doing it anyway.
Recently the UN admitted that they might have exaggerated climate change conditions. The Antarctic ice has not disappeared as Al Goracle predicted, it is doubling. For the past 15 years, the global climate has been cooling, not warming. Yet Obama will implement a costly new initiative to halt the global warming that does not exist. Think of him as Don Quixote.
Last year we had 1.8% growth, we have 12 million unemployed, 10 million underemployed, a record 90 million on disability, and 46 million on Food Stamps. Obama’s plan will put many more out of work, make it difficult for employers to create jobs, and it will raise the electricity rates of many others. We also have an export industry which will be decimated.
This is one of the policies he has been bragging about over the last week in his speeches as one that has laid the foundation for our recovery. We will never get off the basement floor with it.