Coal in crisis
How will EPA regulations affect industry?
- Duration 3:44
- Date Jun 16, 2012
How will EPA regulations affect industry?
Also in this playlist...
This transcript is automatically generated
EPA trying to put the coal industry out of business one of the agency's top administrators is acknowledging the fallout for communities that rely on call.
-- -- if you go to West Virginia Pennsylvania and all those places you have coal communities -- depend on coal.
And to say we we just think those communities should just go away we can't do that.
But she had to do with the law policy suggest and it's it's it's painful it's painful every step.
-- To joining us now as the president of the Ohio coal association.
Kerry Mike nice to see this morning what did you think when you heard those comments.
Well good morning it's great to be with you.
Unbelievable it's not just Western Pennsylvania or or West Virginia it's it's Ohio it's Illinois it's Indiana.
It's coal communities across this country.
It shouldn't be a surprise this is administration that is continually -- winners and losers when it's come to energy and obviously when the government picks the winners and losers it's the American taxpayer that is a loser.
It sounds -- what the administration believes is that it is time to -- away from coal.
To something cleaner less dangerous.
Easier more easily accessed.
Is are you are you willing to admit that it might be time for some.
Knew our energy technologies.
Absolutely not what you seen with coal fired utilities over the last fifteen years as they have become increasingly -- The bottom line is that coal is a resource we have the do we have the largest coal reserves in this country in the world.
But India China the rest of the world is -- -- clean coal technology and what we are seeing again with this president.
Is an attempt to force other energy sources upon -- -- -- injure or just that the list goes on and on with a different types of energy.
Ideas that he's pushing.
The bottom line is this call is the lowest cost electric generating.
Fuel and so we've got to we've got embrace it it's here its domestic and we need to use it.
Here are some of the regulations being put forth by the EPA wants at national limits -- -- out of carbon pollution power plants allowed new power plants to -- in technology to reduce carbon pollution.
Plants can also choose to burn any fossil fuel to generate electricity including natural gas the argument of course from the EPA is it looked.
-- natural gas is equally as cheap.
It's abundant and much more environmentally friendly so maybe we should move in that direction you're your take -- Well it is now I mean you're seeing natural gas prices that historic lows but you know typically -- natural gas market is volatile it usually goes to two to four to six in a heartbeat.
Rarely do you see the prices of -- double or you you never see them triple.
The bottom line is that gas and historic low historical rates right now it is it is it is economical.
But I can assure you that it'll go to four and six odds are that it could go up to 340 by by Christmas.
Here's with the EPA says in a statement we're taking a common sense steps to reduce pollution in our air protect the planet for our children and move us into a new.
Are -- of American energy your response.
You know the bottom line is is the CPA with what the folks need to understand is that 50% of this country spends close to 20%.
Of their income on energy.
And the bottom the bottom 10% spend close to 78%.
Of of their income on energy.
These rules and regulations that the EPA air or are claiming it's gonna be beneficial to the health and the welfare.
Of society they have to understand that when you have to make that decision on whether you're gonna buy food whether you're gonna buy your your medicine.
Or whether you're gonna actually keep the lights on in your house or keep your home heated.
Those are tough decisions and we shouldn't have again the idea that you pick winners and losers and energy because ultimately what we're seeing is that the American taxpayer will be -- was.
My -- the president of the Ohio coal association thanks for coming excellent.