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Thursday, August 02, 2012

A Shot Reverberating In The Coalfields

War on coal?  What war on coal?

Turns out? Not only is it real but it's turned into a war on the American consumer as well:
Mine Succumbs To Obama's War On Coal
Investor's Business Daily editorial

A stop not scheduled during the president's third visit to the battleground state in four weeks was a coal-mining operation near Brilliant, Ohio, run by Ohio American Energy Inc., a subsidiary of Murray Energy Corp. The operation employed 239 workers at its peak but will be closing as the result of President Obama's environmental policies.

Regulatory actions by President Obama and his appointees and followers were cited as the entire reason in the press release that announced the closing. "Mr. Obama has already destroyed 83,000 megawatts of coal-fired electricity generation in America," said Michael T.W. Carey, vice president of government affairs for Murray Energy. "Electric prices in the recent PJM Interconnection monthly auction were bid up 800% for 2015-16 because of this," he added.

PJM Interconnection, the company that operates the electric grid for 13 states, including Ohio, recently held its 2015 capacity auction. This gave the first real indication of just how drastic the effects of Obama's war on coal will be. The market-clearing price for new 2015 capacity was $136 per megawatt.

That's eight times higher than the price for 2012, which was just $16 per megawatt. In Pennsylvania, the new market price is $167 per megawatt — 10 times higher. In northern Ohio, which is suffering from more forced coal-plant retirements than the rest of the region, the 2015 price is an astounding $357 per megawatt.

This is one campaign promise President Obama has kept. In 2008, candidate Obama promised a system under which "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." [link] [emphasis mine]
My God.

While it's true that energy suppliers are, in some cases, switching to the cheaper alternative - natural gas - that switch does not explain the skyrocketing increase in the cost of energy we're about to experience.  Of course Obama, who hasn't a clue as to what he's talking about, will blame greed.  But the real reason?

The Environmental Protection Agency.

The price of energy will be at least ten times higher than it was.  Obama's war on coal extends well beyond simply driving miners into the unemployment line.  It will soon mean the elderly won't be able to afford to heat their homes in the winter.  And the rest of us will have to choose between bread on the table and lights at night.

It's worth remembering why Obama is doing this.  It's to solve a problem that doesn't even exist.

My only wish is that he suffer along with the rest of us.