The White House announced yesterday the details of a new climate plan designed to take on climate change. According to The New York Times, one of the regulations “will probably lead to the closing of hundreds of coal-fired power plants” and a “second regulation … would effectively ensure that no new coal plants are built in the United States.”
Winners and losers of the new regulations included “the coal industry” as a loser, as the regulations are “likely to trigger even more coal-plant shutdowns. … Indeed, the rule could deal a major blow to the industry.” The announcement is said to be “escalating the coal industry’s fight for survival”:
Research firm SNL Energy says more than three dozen coal operations have been forced into bankruptcy in just over three years. Most have been small, but some of the biggest firms have also succumbed, including Walter Energy Inc., Patriot Coal Corp. and James River Coal Co. — Patriot and James River for the second time.
Unfortunately, “your power bill” was also listed as a loser:
The National Association of Manufacturers, the American Coalition for Clean Coal Electricity, the National Mining Association, the American Energy Alliance and the National Rural Electric Cooperative Association all predicted the rule would drive electricity bills up.
Click on highlighted states in the map below to see how much coal is used in the US for electricity and for coal producing states where jobs would be affected: