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January 27, 2013

As Promised, Obama Energy Policy Bankrupts New Coal Plant

From Vic in the morning thread comes this piece:

“Chase Power … has opted to suspend efforts to further permit the facility and is seeking alternative investors as part of a plan of dissolution for the parent company,” Chase CEO Dave Freysinger told the Corpus Christi Caller-Times.

Freysinger made it very clear who was responsible for the projects death. “The (Las Brisas Energy Center) is a victim of EPA’s concerted effort to stifle solid-fuel energy facilities in the U.S., including EPA’s carbon-permitting requirements and EPA’s New Source Performance Standards for new power plants,” he said.

...

“These costly rules exceeded the bounds of EPA authority, incur tremendous costs, and produce no real benefits related to climate change,” Freysinger commented

As a reminder, the executive branch, Obama's EPA, took these actions unilaterally after congress wouldn't cut the economy's throat by passing cap & trade. Who could have possibly predicted the outcome of such a policy?

TFG, that's who.

The only thing I've said with respect to coal, I haven't been some coal booster. What I have said is that for us to take coal off the table as a (sic) ideological matter as opposed to saying if technology allows us to use coal in a clean way, we should pursue it.

So if somebody wants to build a coal-powered plant, they can.

It's just that it will bankrupt them.

And bankrupt them it did. Well done, low-info voters.


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posted by Andy at 09:25 AM

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