President Barack Obama is delivering on a promise to reduce U.S. greenhouse gas emissions.
On Friday, the Environmental Protection Agency (EPA) will announce a new rule that will ultimately impose limits on emissions produced by currently operating coal-fired power plants. The EPA has until next year to formally propose the new rule, which must be made available for public comment before it can be finalized, the Wall Street Journal notes.
The burning of coal accounts for about 40% of electricity generated domestically, and roughly third of all greenhouse gases emitted in the U.S. Republicans have complained that the new regulation — initial versions of which were announced last year — would require the installation of expensive carbon-capturing technology in new coal-fired power plants, essentially making it financially impractical to build new ones. One Republican senator has called the new rule part of the Obama administration’s “war on coal.”
In fact, new coal-fired power plants that have adopted the carbon-capturing technology so far did so only after receiving hundreds of million dollars in tax incentives and grants from the government.
Want to share your own views on money and politics? Drop us a line at email@example.com and we might reprint your views in our InvestorPolitics blog! Please include your name, city and state of residence. All letters submitted to this address will be considered for publication.