Seeking Alpha

Top Obama energy officials defend climate plans in rough House hearing

  • EPA chief Gina McCarthy and Energy Secretary Ernest Moniz defended the Obama administration's climate change plans before a contentious House energy committee today, saying coal-fired power (KOL) will continue but economic growth and environmental protection go "hand in hand.”
  • The first step is for the EPA to issue rules for new plants, which are set to be released this week; McCarthy told the panel the agency will issue the rules for existing plants by June 2014.
  • Carbon capture and storage technology "is feasible and it is available today," McCarthy says, but critics say it is unproven, expensive and nonviable.
  • The EPA reportedly will use Southern Co.'s (SO) $4.7B Kemper plant in rural Mississippi as an example that CCS technology is ready, but so far the project is most noteworthy for a $1B cost overrun, legal battles, a revolt by ratepayers and a credit downgrade for the local utility.
  • ETFs: XLU, IDU, PUI, VPU, RYU, FXU, PSCU, UPW, SDP, UTLT.
Comments (8)
  • SoldHigh
    , contributor
    Comments (981) | Send Message
     
    The purpose of Obama's anti-growth EPA is to jam energy prices high as possible while yielding no benefits to the planet. All of this in the name of the false man-made GW specter which is a complete and total lie. Something more and more people are gradually realizing.
    18 Sep 2013, 07:22 PM Reply Like
  • nemonemo
    , contributor
    Comments (304) | Send Message
     
    In Europe, these renewals lead to wastage of $600B. Girls are resorting to prostitution like business for hunger. Obama I guess wants that. That was his fathers dream.

     

    Oh wait, another company that received tax payers money filed bankruptcy yesterday (it used to build car chargers). Yeah, Obama's friend owned that company. Obama making good use of tax-payers money by donating them to his friends.
    18 Sep 2013, 07:36 PM Reply Like
  • CanadaPhil
    , contributor
    Comments (67) | Send Message
     
    Yes, and in Europe there are howling wolves out at night to eat little kids. That's also Obama's father dream.

     

    Do you want some more nonsense or you think you've had enough already?
    18 Sep 2013, 08:37 PM Reply Like
  • nemonemo
    , contributor
    Comments (304) | Send Message
     
    EPA=Employment Prevention Agency powered by Obama
    18 Sep 2013, 09:46 PM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    “If somebody wants to build a coal-fired power plant, they can. It’s just that it will bankrupt them. Under my plan, electricity rates would necessarily skyrocket.”
    18 Sep 2013, 10:28 PM Reply Like
  • theo_rhetoric
    , contributor
    Comments (121) | Send Message
     
    First Amendment abuse
    19 Sep 2013, 07:33 AM Reply Like
  • Four-Ha
    , contributor
    Comment (1) | Send Message
     
    If Obama really cared about pollution then he would stop the Chemtrails.
    19 Sep 2013, 03:18 PM Reply Like
  • CassandraSees
    , contributor
    Comments (263) | Send Message
     
    There are going to be some interesting heating/cooling seasons in our future - - When we no longer can afford electricity / gas to power our homes, I guess we could all go back to burning wood - - (Think air pollution and deforestation) - - So should we start to think about investing in timber companies and chimney sweeps????
    23 Sep 2013, 04:52 PM Reply Like
DJIA (DIA) S&P 500 (SPY)