EPA Chief admits: ‘I’m not disagreeing’ states with climate regs have ‘triple’ the electric rate

Pointing out the high costs of electricity in states that have implemented climate regulations similar to EPA’s proposed Clean Power Plan, Senator Bill Cassidy tells EPA Administrator Gina McCarthy, “states that emit the most carbon have the lowest energy costs [while those] that emit the least have the highest — in some cases triple…” Administrator McCarthy responds, “I guess I’m not disagreeing with your– the facts that you’ve outlined them just there.”

SENATOR CASSIDY: “In a previous conversation we’ve had, I’ve made the point that if the Clean Power Plant [sic] rule raises energy costs, that will put our economy at a economic disadvantage relative to countries overseas which frankly will continue to pollute or emit carbon. Now, we wanted to test this hypothesis, so we took all the states in the United States, and we looked at those which have the easiest compliance with the Clean Power Plant [sic] rule, i.e. they currently emit the less [sic], and those states that are going to have the hardest time, they emit the most. And, turns out there is kind of an inverse correlation with electricity costs. So, if you look at RGGI states for example, the Northeast, they have electricity costs that are three times higher than that for a state like Montana.”

ADMINISTRATOR MCCARTHY: “Mmmhmm (affirmative).”

SENATOR CASSIDY: “Now, I think I remember you saying, ‘No, it’s possible to lower emissions without raising the costs’, but I’ll just say it, baseline, these states which have the lowest emissions of carbon already have triple the cost of their electricity.”

[…]

SENATOR CASSIDY: “Empirically, though, it is true. Those states that emit the most carbon have the lowest energy costs. Those that emit the least have the highest — in some cases triple — and if input of your costs of energy is an input of your cost of production, intuitively companies are going to move where that cost is lower.”

ADMINISTRATOR MCCARTHY: “I guess I’m not disagreeing with your– the facts that you’ve outlined them just there. My disagreement may be with what would the impact of regulating greenhouse gas emissions have.”

Hearing to Review the FY17 Environmental Protection Agency Budget Request
Interior, Environment, and Related Agencies
Senate Appropriations Committee
April 20, 2016…

Coal company’s stocks plunge after Clinton says she will shutter mines

http://www.speroforum.com/a/UAAIGWWUZK7/77509-Coal-companys-stocks-plunge-after-Clinton-says-she-will-shutter-mines?utm_medium=speronewsco&utm_campaign=&utm_content=77509&utm_source=&utm_term=Coal-companys-stocks-plunge-after-Clinton-says-she-will-shutter-mines#.VunCtvkpC1E

America’s biggest coal producer is warning that it is hurtling towards bankruptcy. Shares of Peabody Energy Corp. dropped this week to $4.72 on March 14, and dropped again to $4.00 by close of business on March 15. Today, the price dropped to $2.14 as the trading day opened, falling to as low as $2.03 before close of business. On March 11, the price stood at $6.54.

According to a filing by the company,  there “exists substantial doubt whether we will be able to continue as a going concern.” Company shares have fallen 95% in the last 12 months, while the S&P 500 has lost 3%.…

Oops. Facing backlash, Clinton reverses herself on coal – Now says it still has a future

http://hosted.ap.org/dynamic/stories/U/US_DEM_2016_COAL?SITE=MYPSP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2016-03-14-17-51-35

FRANKFORT, Ky. (AP) — Facing a backlash from Appalachian Democrats, Hillary Clinton’s campaign on Monday tried to reaffirm her commitment to coal communities one day after declaring on national television she was going to “to put a lot of coal miners and coal companies out of business.”

Clinton’s comments came during a Sunday night appearance on CNN, where she was asked a question about how her policies would benefit poor white people in southern states who generally vote Republican.

“I’m the only candidate, which has a policy about how to bring economic opportunity, using clean renewable energy as the key, into coal country. Because we’re going to put a lot of coal miners and coal companies out of business,” Clinton said. “We’re going to make it clear that we don’t want to forget those people.”…