Friday, April 20 , 2018, 11:27 am | Fair 62º

 
 
 

Tom Donohue: So Much for That ‘All of the Above’ Energy Strategy

President Barack Obama has repeatedly called for an all-of-the-above strategy that develops every source of American energy. But he’s also pushing the Environmental Protection Agency to move forward on an aggressive new Climate Action Plan that would take steps toward eliminating our most abundant and affordable energy resource — coal.

Last month, the EPA unveiled a revamped proposal calling for the first-ever greenhouse gas emissions limits for new power plants, which would be virtually impossible for even the most modern coal plant. By requiring the use of technology that isn’t commercially viable, the new rule is really a de facto ban on new coal plant construction.

This rule is the latest in an ongoing regulatory assault on America’s coal industry, which certainly was never intended by Congress. Regulations are an essential part of a complex economy. But when done wrong, regulations can bring compliance costs that threaten entire industries.

The U.S. Chamber of Commerce has long said that a basic and commonsense premise for any regulation is that the benefits should outweigh the costs. In this case, the economic costs of sidelining our coal resources would be devastating, with very little benefit.

Coal is our largest source of domestically produced energy, responsible for about 40 percent of our electricity. Some want to see coal replaced with alternative energy sources. These new forms of energy have an important place, but today, they are far from ready to replace the abundant and affordable coal resources that have long powered our nation.

Coal is also vital to our economy. The coal industry is responsible for nearly 550,000 U.S. jobs. If adopted, this and other EPA rules would cause sweeping job losses, reduce our coal-fired electricity-generating capacity by 20 percent or more and drive up U.S. electricity costs, which would impact all businesses, industries and families.

Next year the agency will issue performance standards for existing power plants that are sure to put further pressure on the backbone of our existing electric generation fleet. And, unfortunately, the threats don’t stop with coal.

The federal government is proposing new regulations on shale development — even though shale is already effectively regulated at the state level. Such regulations could hamstring the shale boom and cost our economy more than $100 billion in the next few years. The government continues to place 87 percent of our offshore oil and gas off-limits, and a cumbersome permitting process holds back energy development.

As long as the EPA pushes anti-coal rules and jeopardizes the development of other crucial sources of domestic energy, the Obama administration’s calls for an all-of-the-above energy strategy ring hollow.

— Tom Donohue is president and CEO of the U.S. Chamber of Commerce. The opinions expressed are his own.

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