While our electricity prices necessarily skyrocket under the weight of the administration’s regulatory assault in fossil fuels, the world’s largest carbon emitter will spew even more, preferring economic growth over climate change hype.
President Obama’s expansion of his war on coal to include existing coal plants may very well put the industry on the path to extinction, costing jobs and economic growth while raising energy prices, a huge tax on the American consumer. But countries like China and India are increasing their coal consumption, more than outpacing any U.S. reductions in coal use and carbon emissions.
His actions come as news outlets ponder why global temperatures have flat lined for the last 16 years or so — and despite the fact that the U.S. has led the world in carbon reductions for the last two decades. The increased use of natural gas thanks to a boom in fracking has helped fuel these reductions. That proves once again that technology fuels both growth and clean air.
Energy analysts say the administration’s energy policies could push about one-third of the U.S. coal-fired fleet into retirement. In the first quarter of 2013, there were 900 active coal mines, down 17% from a year earlier. Last year, U.S. utilities burned 825 million tons of coal, down from 1.045 billion tons in 2007.