Obama’s war on coal will cost U.S. $1 trillion in new technology growth

From: Washington Examiner

Mike Duncan


Likewise, his EPA’s proposed New Source Performance Standards, released last year, place a de facto ban on the construction of new cutting-edge clean-coal plants; jeopardizing America’s leadership in developing Carbon Capture and Storage technology and ceding an estimated $1 trillion in economic benefits resulting from the technology to countries like China.

Meanwhile, the demand for coal continues to grow globally, particularly among burgeoning economic powers.

China’s percent of world coal consumption is expected to increase from 47 percent in 2010 to 57 percent in 2025, and its economic and industrial activity has been synchronous with this growth.

And Germany, which quickly reversed its path after a costly experiment with over-reliance on renewable fuel sources, is now building new coal power plants to restore affordable, reliable electricity to the country.

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