Obama’s Plan To Bankrupt The Coal Industry

“So if somebody wants to build a coal-powered plant, they can; it’s just that it will bankrupt them because they’re going to be charged a huge sum for all that greenhouse gas that’s being emitted.”

– Barack Obama

Energy Wire: PostGlobal on washingtonpost.com

About stevengoddard

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5 Responses to Obama’s Plan To Bankrupt The Coal Industry

  1. michael says:

    In case you hadn’t noticed, there’s quite a disconnect between what the fellow says and what he does. Don’t bother listening to his speeches, they’re crafted by minions to reach what they believe to be his constituents. Other than that they don’t mean anything.

    Here’s the plan to bankrupt the coal industry: the world has been awash in a flood of cheap natural gas for the past few years. And it has undercut the price of coal. So the culprit destroying Big Coal, or Clean Coal, is called the Market.

  2. Kaboom says:

    The coal industry is happily exporting all the coal no longer needed in the US due to cheap shale gas to the economies crippled by the green idiocy with renewable mandates. Just because you have to pay moon prices for electricity doesn’t mean it is available when Gaia is giving your windmill or solar panel the finger.

    • michael says:

      I stand corrected, KB. Coal may not be enjoying the cachet it used to have in this country, but I see industry profits have been going nowhere but up since 2008.

      US production is currently a little off though. The peak was 2004-2008. So I’m thinking record profits have something to do with record prices:

      http://www.indexmundi.com/energy.aspx?country=us&graph=production+consumption&product=coal

      Notice on the chart, though, that we were exporting at least as much coal as we are currently before any countries began instituting green policies. Take a second look at the chart, this time for 1980-1999. Far more coal produced than burned in the USA.

  3. tckev says:

    Hey, the rest of the world loves US coal so just for them lets keep it cheap.
    You know it makes sense!
    More info here –
    http://www.geocraft.com/WVFossils/Energy.html

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