Friday, September 20, 2013

Flashback: Obama promised to bankrupt the coal industry...

Today, Team Obama announced the plan for the destruction of the coal industry:

Under the rules, which will take a year to finalize, the EPA will impose limits on carbon emissions from all future coal and natural-gas plants. This is just an initial step that only covers plants not yet built: Later on, the EPA will separately tackle emissions from the thousands of existing power plants that are already operating.
The limits on future coal plants are stringent enough that utilities will likely only be able to new coal-fired facilities if the plants can capture their carbon emissions and bury them underground, a technology that's still unproven.*
In theory, this could mean a moratorium on all new coal plants for decades to come...

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