Made good on healthcare last week, bankrupts the coal industry this week
Promises Made, Promises Kept: Obama to Bankrupt the Coal Industry
Washington, DC -- Responding to an Environmental Protection Agency (EPA) decision this afternoon on the future of coal mining in Appalachia, Thomas J. Pyle, president of the Institute for Energy Research issued the following statement:
"Today's EPA announcement will bankrupt the coal industry and cause electricity prices to "necessarily skyrocket," fulfilling two more promises President Obama made while running for office. The magnitude of this EPA decision on new and renewal permits in Appalachia will cost American jobs and put mom and pop operators out of business.
"In fact, according to EPA Administrator Lisa Jackson there will be "no, or very few, valley fills that are going to meet this standard." In other words, no new coal mining permits will likely be approved under this unilateral decision rendered today by the EPA."
Click
HERE for the EPA announcement.
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The Institute for Energy Research (IER) is a not-for-profit organization that conducts intensive research and analysis on the functions, operations, and government regulation of global energy markets. IER maintains that freely-functioning energy markets provide the most efficient and effective solutions to today’s global energy and environmental challenges and, as such, are critical to the well-being of individuals and society.
