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For the sake of our children.
And the health and safety of all Americans.
The Environmental Protection Agency to put an end -- to the limitless dumping.
A carbon pollution from our power plants and complete new pollution standards for both new and existing power plants.
Well it's pretty mature for the American coal industry as we know it the president announced plans.
To use the UEPA to impose tough new regulations on power plants.
Regulations that could and that completely killing -- but here's the issue.
The death of coal could have dire consequences for the US economy at large.
More expensive energy needs the cost of making you think those up and that cost is passed right on to you here to break it all down upon.
Global director of energy John king's -- And -- second the so Miller from the American Coalition for Clean Coal Electricity.
-- let me start with you to how do you feel about what happened today I mean you feel like you're under assault.
Well look today's announcement was a disappointment but it's certainly not any surprise these -- we've had every expectation that the administration was gonna launch attack like this today or someday soon so.
Certainly we are ready and poised to to take on that the challenge the industry has invested over a hundred billion dollars.
Over the last thirty years to reduce emissions by 90%.
In this image -- if this administration isn't willing to take those kinds of achievements seriously.
This administration is looking at a legacy of closing down -- and an industry that is important to with America.
John is what Lisa said fair.
I think it's fair and it certainly was not a surprise that it really wasn't this is was kind of expected almost since the -- the Supreme Court.
About six years ago said that the EPA can regulate CO2.
As a pollutants so in that sense I think a lot of people watching Obama administration wondering just what was gonna happen -- what what was just gonna happen.
I would say this that the -- the real issue now in the coal industry is going to be how -- get those export facilities up and running.
Because they have -- clearly the the the best market for them is not going to be the US.
It's going to be in other parts of the world particularly off the West Coast where there are not a lot of export facilities now.
So there was one thing that the a bomb ministries -- -- and it was to try to get organizations like the IMF.
Tonight if -- to support to like coal plants in China so you can see he's already got -- that exported issue.
-- -- -- -- -- -- -- -- -- -- -- No I mean that's a great point because obviously you don't do it the environment all around the world we we all shared the state air.
So we're not all on the same page with what we're doing we're still gonna -- CO2 emissions.
Lisa how possible is it.
That we start exporting calling -- we are the Saudi Arabia call we have this tremendous natural resource we're not gonna use -- someone's going to do we start exporting -- a whack.
What's -- disappointing here is that -- the 200 year supply here in America so anyone serious about.
Energy independence in America.
We should invest right now here in in coal -- reserves.
But let's also keep in mind -- if we turn off call here in America we are -- competitiveness to the global economy.
It as an American it's it's disappoint for American business let's say that.
Yeah I mean because you need cheap energy -- order for the manufacturing sector to rebound in order for consumers to buy cheap goods but John.
You know natural gas is providing cheap energy right now we've seen -- -- -- natural gas from shale -- fracking and the one thing that I was thinking as I was watching this today was.
Well it's good for natural gas stocks and and and natural gas you -- is an -- anyone who depends on acts he's gonna set its sights on call.
That's great for -- gases and it.
You know the carbon footprint natural gas per kilowatt hour generated is probably about half of out of -- and I really wonder if the president would have been able to do this of natural gas was.
You know up around nine or ten dollars -- CF if we hadn't really.
Had a natural gas revolution.
I would say that that -- natural gas has certainly been the beneficiary of this.
And this is this is a great day for natural gas all the natural gas trade associations -- came out with a statement they were all very positive.
The other thing that's driving this too that you really even if the president -- -- this is that a lot of states have renewable met in renewable.
Power mandates that they want X percent let's say twenty point five -- their electricity generated by renewals by let's say 2030.
So that was already got a drain -- from coal and natural gas I do want to point out one final thing.
Is that the price of coal and gas have -- a little more recently and there definitely even though they've been a big switch away.
From coal natural gas as the price of gas fell you're starting to see that trend -- a little bit that's called a little more cost competitive.
And we say you know I mean we have a chart a bit.
US CO2 emissions had a twenty year low that is according to the government's own numbers.
It seems like you know we that is not mention Nolan gets any credit that would you say that -- natural gas industry.
Watch out you know -- if the president knocks -- out.
Natural -- is next I mean it's been nice -- on the list.
That's exactly right they should be looking over their shoulder because they're coming for them Macs but the other -- for this to.
Is that the the government agency that does look at these numbers and that does consider this research also has said.
That because the adjustment and natural gas is coming and it's coming this year that more coal use coal consumption will go up.
And these prices will regulate and so that's the great challenge here is that all of us have something to be concerned about as it relates to regulation.
You know I want to point out -- you a response from day and spokesperson for speaker Boehner.
Right afterwards he said well the standard the president set today should be -- speedy approval of the Keystone Pipeline based on what he said it's time to sign off on keystone.
And put Americans back to work what do you think about that -- -- -- that -- and -- Or didn't what the president said -- I mean there's some -- saying that this speech today.
Gave him -- -- I -- the Keystone Pipeline I think.
What the president said today was positive for the keystone XL pipeline he said.
He would he it has to be shown that there is no net increase in carbon emissions as a result of the keystone XL pipeline.
Now if you operate under the assumption that the U oilsands from Canada are going to get produce regardless of the approval of keystone XL.
And that essentially assumes that the that that is gonna get produced its gonna get exported to China where export to the East Coast of Canada and often.
Wherever at that point -- carbon footprint is greater because the carbon footprint of the others the tankers moving that oil around the world.
Is going to be greater than moving it down a pipeline I personally interpreted that statement today as being positive -- keystone XL -- not everybody agrees with me.
Yeah to be interesting to -- thanks to both of you for joining us banks that hampered.
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