POWER COMPANIES STICK TO PLANS DESPITE EPA’s EMISSIONS REPEAL
Some of the biggest U.S. power companies said they are pushing ahead with investments in renewable and gas-fired electricity, despite the Trump administrations move to roll back environmental rules, reports The Wall Street Journal’s Timothy Puko.
Power companies, such as American Electric Power Co., NRG Energy Inc. and Southern Co., said the Trump administrations move on Tuesday to remove federal limits on carbon emissions at power plants, will have little effect on their planning.
The energy industry has been undergoing important changes mostly driven by market forces.
Power plants cut their carbon dioxide by 25% between 2005 and 2016, a trend that is likely to continue, according to the Edison Electric Institute, an industry group.
“Cheap natural gas from the shale-drilling boom and more-efficient power plants have run coal-burning rivals out of business. Advancements in wind and solar power, with help from subsidies, have cut emissions too,” reports the Journal.
Power-plant emissions are one of the largest sources of greenhouse gases linked to climate change but President Donald Trump has previously called global warming a “hoax.”
President Barack Obama’s administration outlined emissions limits through the Environmental Protection Agency’s Clean Power Plan in 2015.
On Tuesday EPA’s Administrator Scott Pruitt signed a proposal to reverse the emission rules.
SUPREME COURT REJECTS APPEAL BY FORMER MASSEY ENERGY CEO
The Supreme Court on Tuesday rejected an appeal by a former coal executive convicted of safety violations linked to the 2010 explosion at West Virginia’s Upper Big Branch mine that killed 29 people.
“Don Blankenship, former chief executive of Massey Energy Co., received a one-year sentence after his 2015 conviction for conspiring to violate federal mining safety regulations,” write Jess Bravin and Brent Kendall.
Oil prices edged up Wednesday after Saudi Arabia announced plans to cut crude exports next month.
Investors are in wait-and-see mode ahead of the release of oil-market data from the Organization of the Petroleum Exporting Countries on Wednesday and the International Energy Agency on Thursday.
Brent crude, the global oil benchmark, rose 0.32% to $56.79 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.65% at $51.25 a barrel.