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FBN’s Gerri Willis on the impact of EPA regulations on the coal industry and the economy as a whole.
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Everyday here at the Willis report we tell you about the Obama administration's broken promises.
The life his administration makes on all kinds of policies but today we're gonna tell you about a promise kept.
And I'm not too happy about this -- either.
The Obama administration's war on cold more and more rules for the industry.
All in the name of environmental protection it's killing off the vital energy resource and thousands of American jobs.
So far sixty coal plants have been closed as a result of the EPA's regulations and that's enough power for over nineteen million homes.
Out like a light.
Pressure from the EPA combined with the drop in natural gas prices is forcing coal out.
Now for years ago -- made up 50% of the power on the grid.
Now it's down to 34%.
A third the decline is only beginning in the economic impact is staggering.
The EPA's regulations are forecast to cost a 1822151000.
Jobs by 2015 that's just three years.
And as much as a 112 billion dollars wiped away from our GDP so growth goes down to.
Does that sound like something we -- -- fort but -- what President Obama campaigned on.
If somebody wants to build a coal power plant they -- is just that it will bankrupt them because they're gonna.
Be charged a huge sum for all that a greenhouse gas that's being -- Now this is all supposed to be about the environment right.
-- keeping carbon that is out of the out atmosphere that's the only part of the president's plan to kill cold it's not working because.
Around the world.
-- is booming.
Coal is up 47% over the last decade the rise of coal consumption.
Is bigger than that -- -- natural gas nuclear energy combined.
Now this is all tragic because coal is one fuel where the US dominates.
Experts call the US the Saudi Arabia of coal.
That's an even half of it.
We've got around 200 says they've got around 270 billion barrels of proven oil reserves America's store cold.
Is the equivalent of over 700.
Billion barrels of oil.
Like the OPEC of cool.
That's -- -- cold -- 235.
Years.
Finally consider this many of the president's worst policies or at least fixable.
Once there's a new president in the White House tax hikes can be rolled back obamacare can be repealed the -- -- pipeline can even be approved.
But if American cold dies that entire industry the people who work there.
There may be no way to.
