Barack Obama is using regulations to literally bankrupt the coal power industry. We shouldn't be surprised. He pledged to do just that by severe regulations...
Via Washington Examiner:
Chase Power, the parent company behind the $3 billion Las Brisas coal power plant in Corpus Christi, Texas, announced yesterday that it was cancelling the project.
“Chase Power … has opted to suspend efforts to further permit the facility and is seeking alternative investors as part of a plan of dissolution for the parent company,” Chase CEO Dave Freysinger told the Corpus Christi Caller-Times.
Freysinger made it very clear who was responsible for the projects death. “The (Las Brisas Energy Center) is a victim of EPA’s concerted effort to stifle solid-fuel energy facilities in the U.S., including EPA’s carbon-permitting requirements and EPA’s New Source Performance Standards for new power plants,” he said.
The Las Brisas power plant had been part of a larger Las Brisas Energy Center project planned for Corpus Christi’s Inner Harbor.Economists had projected that in the first 5 years of construction and operation the project would create as 1,300 direct and 2,600 indirect jobs. Now none of those jobs will exist.