~ Where the Sun Will Never Set on Our liberty ~
On March 28, 2017, President Trump took another step to repeal numerous Obama-era climate change policies. “My administration is putting an end to the war on coal,” President Trump stated while signing an executive order that repeals the Obama Administration’s climate change policies. President Trump wants fewer regulations in the fossil fuels industry, which could stimulate job growth.
Throughout his election campaign, President Trump was very vocal about his support of fossil fuels and related industries. One of his top priorities is to scale down the EPA’s (US Environmental Protection Agency) green regulations.
The executive order asks the EPA to review the Clean Power Plan. The Clean Power Planaims for a 32.0% reduction in greenhouse gas emissions by 2030—compared to 2005. It focuses on natural gas (UNG), renewables (TAN), and the reduction of coal-based power generation. The executive order also lifts the temporary moratorium on new coal exploration on federal lands, which was imposed by the Obama Administration in 2016.
Repealing climate policies might not have a significant impact on reviving coal (KOL) and related industry jobs. According to the EIA (U.S. Energy Information Administration), the US power industry is planning to increase natural gas–fired power generation capacity by 11.2 gigawatts in 2017 and 25.4 gigawatts in 2018. EIA data state that available coal capacity fell 15% in the last five years.
Natural gas became a favorite choice for power generators. It surpassed coal in total power generation mix last year. It should be noted that utilities’ (XLU) switch has been influenced mainly by changing power generation economics driven by low natural gas prices—not just because of regulations.
Many utilities (XLU) such as American Electric Power (AEP), Southern Company (SO), and Duke Energy (DUK) have a coal-dominated generation mix. Lately, they have been shifting to natural gas and renewables generation. Many of these utilities are planning to invest in natural gas–fired and renewables generation in the near future, most likely due to the cost competiveness of these sources over coal.
According to the EIA (U.S. Energy Information Administration), the cost of natural gas delivered to power generators fell from an average price of $5.0 per MMBtu (million British thermal units) in 2014 to $3.2 per MMBtu in 2015. The cost averaged $2.78 per MMBtu from January through October 2016.
Long average CO2 balance is ~2,000ppm; plants love it, comfortable for animals (who exhale around 40,000ppm). You could burn all known coal resources and reserves and not get to half that.
To me it seems silly to restrict it here, where we do consider environmental impacts. Countries like China produce and consume fossil fuels with little or no regard to the environment.
I'd love to see legislation that states the US will buy no oil or other products from countries that to do not at least equal our environmental standards. I'd love to see the left's opposition to that one.
I do believe that the whole Global Warming issue has been a political construct of the international Left as a redistribution scheme. Drain the U.S. to the enrichment of their chosen recipients...
Also vaulted CC to top of the world's gravy train roster, to the detriment of society and science. Now that US is bailing, fascinating to watch whose $$ will keep being passed and pissed out.
Keep it coming President Trump! Nothing pleases me more than to see a demon's empire being taken apart one brick at a time.