‘Necessarily’ Bankrupting America’s Coal Industry

‘Necessarily’ Bankrupting America’s Coal Industry Image

“Under my plan…electricity rates will necessarily skyrocket.”

Those are the words of then presidential candidate Barack Obama under the context of his planned Cap and Trade system.  You may be thinking to yourself that cap & trade, or as it better described, Cap and Tax, is a dead issue in Washington.  If only that were true.  But first, consider this statement Obama made about 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 hug sum for all that greenhouse gas that’s being emitted.”

As far as a Congress goes, a Cap and Tax system goes is not even a considerable option.  Even if Harry Reid had the votes to pass such a bill, and believe me he’d love to,  there is no way it would pass the Republican-controlled House.  So then it is natural to believe that there is no need to worry about Obama implementing a system that increases the regulation of the energy industry so much so that many power plants will be forced to shut down causing your electricity rates to “necessarily skyrocket,” right?  Wrong!  Again, watch the other hand.

The DrudgeReport featured a headline article today from The Washington Post that details the Environmental Protection Agency’s plan to issue a “flurry of new rules” for coal-fired power plants in an effort to curb pollution.  The new mandates are expected to cost utility companies up to $129 billion, but that is not the worst part.  These new rules, which is dubbed the “EPA’s Regulatory Train Wreck” by the American Legislative Exchange Council, will put bankrupt at least  20% of coal power plants.  Considering that about 45% of energy comes from coal the results of the EPA’s new regulations will ultimately lead to higher electricity bills, power shortages, fewer jobs, and a greater dependency on foreign energy.  Excited yet?

Texas is well aware of the EPA’s bully tactics.  The Lone Star State has been battling the EPA over its abusive regulatory controls for some time now, but specifically over the agency’s recent decision to force Texas to comply with job-killing regulations.  If Texas is having a hard time keeping up with record breaking energy demands now how will it be able to cope when up to 20% of coal power plants shut down?  Factor that situation across the other 49 states and you should be able to understand the severity of the issue.

The direction the EPA is taking is not without someone pointing the way.  Obama has made his energy plans very clear.  He wants to do away with traditional sources of energy for “green energy” and he is determined to make that happen one way or another.  But, despite the pie-in-the-sky dreams that Obama and tree-hugging environmentalists have the technology for green energy to power America does not exist!  That is why it boggles my mind as to why this administration so passionately works to destroy an industry that is crucial to our nation.  For Obama this is all  part  of his plan to “fundamentally transform America” and you will be footing the bill!