- The D.C. Circuit Court of Appeals dismisses a challenge to an Obama administration proposal to cut carbon emissions from U.S. power plants, ruling the lawsuit was premature.
- Coal companies (NYSEARCA:KOL) and 14 coal-dependent states sued to stop the draft regulation that is a priority for the Obama administration, but the court said the challengers cannot challenge the EPA’s proposal until the administration issues a final regulation, which is expected in August.
- The challengers said the regulation - which, if enacted, would result in a 30% cut in power-plant carbon emissions by 2030 based on emissions levels in 2005 - was such a dramatic, labor-intensive overhaul that it was an immediate threat to the U.S. coal industry.
- Coal equities are mostly higher today: BTU +6.8%, ANR +0.4%, ACI +0.9%, CLD -1.6%, WLB -0.3%, WLT +0.6%.