Remember when as a candidate Our Lord and Savior Barack Hussein Obama promised to bankrupt the coal industry? Here’s a refresher for those who may have forgotten:
The money quote:
So 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 …
So if somebody wants to build a coal-powered plant, they can.
It’s just that it will bankrupt them.
Utility giant American Electric Power said Thursday that it will shut down five coal-fired power plants and spend billions of dollars to comply with a series of pending Environmental Protection Agency regulations.
The company’s dramatic plan to comply with the regulations could give Republicans and moderate Democrats ammunition in their ongoing fight against EPA’s efforts to impose new regulations aimed at limiting greenhouse gas emissions and air pollutants including mercury and arsenic.
In a statement outlining its plan to comply with EPA’s regulations, AEP said it would need to retire 6,000 megawatts of coal-fired power generation in the coming years.
The company, one of the country’s largest electric utilities, estimated that it will cost between $6 billion and $8 billion in capital investments over the next decade to comply with the regulations in their current form.
The costs of complying with the regulations will result in an increase in electricity prices of 10 to 35 percent and cost 600 jobs, AEP said.
Without the electricity generated by coal, what is going to make the farcical electric cars we’re forced to subsidize go?
But we need … solar(!) and wind (!) and geothermal (!) … to replace what’s worked up until now and for which there is plenty of supply.
Dave posts a vision of what Obama’s America will look like, The Anointed One’s utopia:
Yes, Obamamerica will be the upper half of the Korean peninsula. Only the 2012 election stands in His way of bringing His vision of change to America. Third world banana republic here we come.
