Editorial: Yes, There is a War on Coal

Via The Fort Wayne News-Sentinel: 

U.S. Energy Secretary Ernest Moniz is a funny guy. He took his comedy routine on the road this week, telling attendees at the Mid-Atlantic Region Energy Innovation Forum at West Virginia University that the Obama administration isn’t waging a “war on coal” In fact, it is working to maintain coal as an important part of a low-carbon energy future.Moniz’s boss is a man who proposed a plan in 2008 under which electricity rates would “necessarily” skyrocket. “If somebody wants to build a coal-fired power plant, they can,” President Obama said. “It’s just that it will bankrupt them.”And Hillary Clinton, who wants to be the new boss, has said in a campaign speech, “We’re going to put a lot of coal miners and coal companies out of business.”Sure sounds like a war. And, as the casualties mount up, it looks a lot like one, too. Over the past five years, dozens of U.S. coal mining companies have had to declare bankruptcy, including many of the nation’s largest companies. The number of operating coal mines has plummeted from 1,013 in early 2009 to fewer than 400 today. America now has 83,000 fewer coal jobs than it did when Obama took office.

 To be fair, the biggest factor in the continuing decline of coal is the availability and cheapness of natural gas, which power companies are naturally transitioning to. Who wouldn’t rather have energy that is cleaner and less expensive?But such transitions should be smoother and less disruptive than this one has been. With its crippling environmental regulations — intentionally crippling — the administration is accelerating the process and hastening the demise of coal. That is not good for anything — the economy or the energy sector or American consumers.Actually, if he is sincere, Moniz has a pretty good idea. He also said in his remarks that Congress needs to pass tax credits that could help power plants burn coal more cleanly. The credits would send a signal to utilities and investors about coal’s viability for future power plant investments, Moniz said.Coal contributes to nearly 85 percent of Indiana’s total energy. In fact, only Texas consumes more coal than we do. This issues matters much more to Hoosiers than to residents of most states. So pay attention.
See the article here.
  • On September 14, 2016