Behold The Impact Of Obama’s Over Zealous, Far Left Energy Policies
Remember, during the campaign, when some of Obama’s comments about bankrupting the coal industry came to light? Well behold it’s impact on our energy industry:
Developers of a coal-to-fuel plant proposed for western North Dakota say the $4 billion project is on hold while they await direction from the Obama administration and Congress.
“A new federal plan is needed to see how coal fits in, in the future,” said David Straley, a North American Coal Corp. spokesman. “We don’t want to put $200 million in the ground and not know where we’re at.”
The project would be the first large commercial coal-to-fuel plant in the U.S., developers say.
Sen. Byron Dorgan, D-N.D., said he supports the project but it’s “perfectly reasonable” for it to be put on hold because of uncertainty in the marketplace and changing federal energy policies.
So a project worth potentially hundreds of millions of dollars to the state’s economy (not to mention hundreds of jobs) is on hold because big-government Obama might regulate the whole thing out of existence, causing all the money invested thus far to be lost.
Now, I’m not in favor of subsidizing fuel sources. I don’t think coal projects should be any more subsidized than biofuel projects. But roughly 50% of our nation’s power comes from coal right now. Coal is the cheapest and most abundant power source we have. If Obama’s going to regulate the coal industry into bankruptcy that portends terrible things for this country.
