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Obama’s War On Coal – Forbes

By Brigham A. McCown

President Obama launched a ‘war on coal’ in his climate change action plan, released early this morning and addressed from Georgetown University this afternoon. In 2008, Obama warned that his policies would bankrupt anyone who started a coal power plant, and today this controversial policy will begin to impact America’s middle class.

Coal is responsible for more than 760,000 American jobs, yet the Obama administration thinks a “war on coal is exactly what’s needed.” This action plan will close 288 coal plants across 32 states, a huge roadblock for repairing the American economy. Families across the US pay 11% less for electricity in states where more than half comes from coal. Even the Washington Post also conceded in a report this week that the president’s new climate plan will increase consumers’ electricity prices, which could not come at a worse time considering yesterday’s Bankrate.com report finding that three-quarters of Americans are living paycheck-to-paycheck.

The action plan lays out the federal efforts and regulations to cut coal production and to limit carbon dioxide emissions, as well as doubling efforts to rely on geothermal, solar and wind power, providing $8 billion in federal loans to assist in renewables. The proposal speeds up the permitting process for wind and solar while oil and gas permits on federal lands are at record lows.

His plan is designed to sidestep Congress, by using a presidential memorandum…

Read the Rest @ Obama’s War On Coal – Forbes.

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