ACC comments on Senator Obama’s coal policy
Recent comments have been attributed to Senator Obama regarding the implementation of a cap and trade system for carbon dioxide emissions, that could "bankrupt" the coal industry or those who plan to build coal-fueled generation plants.
As a non-partisan organization, the American Coal Council does not take positions on the outcome of the election. Nor do we lobby for the implementation of specific policies or legislation.
It is extremely important, however, for both candidates to recognize the value and stability that the coal industry provides for our economy. "Bankrupting" the source of half of our electrical power would have profound negative economic, social, and environmental impacts.
Coal currently provides half of our domestic electricity supply. It does so at rates well below most other competing energy sources. "Bankrupting" one of our nation’s most abundant and affordable, energy resources would cause rapid increases in energy costs for main street and our nation’s businesses. Additionally, tens of thousands of jobs would be lost in our mining, utility, and related service industries.
The ACC believes that this issue points to the continuing need to educate policy makers on the pivitol role that coal plays in our economy.