Guest Author: Terry Jackson
[Editor’s note: Terry Jackson has worked in the coal industry for years and knows it well. ZipDialog is delighted to include his personal views. Readers are invited to respond. We take the “Dialog” in ZipDialog seriously.]
All of the damage done to the Coal Industry in the Obama Administration cannot be undone, and I am not a Climate Change Denier.
As a matter of fact, through intelligent dialogue on Charles Lipson’s ZipDialog blog and its related postings on Facebook, I am now FB friends with two Climate Scientists as a result.
Deregulating Utilities and Regulating Coal
The problem began with the deregulation of electric utilities and the lack of a moral compass in the executives of those publicly-owned and traded utilities. It was made worse by Bill Clinton’s repeal of the Glass-Steagall Act, eliminating the “Chinese Wall” between banking and investment banking.
Instead of replacing coal-fired units all over the East Coast with new and clean coal plants, the utilities sold their coal plants, which had already been full depreciated, to Independent Power Producers (IPPs), who brushed them off to merely comply with minimal EPA regulations in force and then ran them into the ground, fully depreciating them again.
The utility executives got bonuses, their shareholders got dividends, the banking and investment banking pigs got fat. I should add that the trend started earlier than 1999 with the repeal of the Glass-Steagall legislation, and IPP’s have been around since Jimmy Carter. They just got bolder and less moral over the years.
The coup de grace was Obama’s EPA director coming up with even more and more “pollutants” to lay on the remaining coal-fired generating stations and his willingness to empower the oil and gas companies with expanded fracking.
Most oil and gas companies owned coal companies, as did chemical companies like DuPont, and they divested. They got out knowing that they could dump their coal assets with the help of the same banks and investment bankers who helped them buy coal assets for their huge cash flows in the first place.
Even the Sierra Club, which was all for more gas instead of coal, came to find out that the 6% losses of gas at the well head and through the pipelines was more damaging to the environment than the coal it replaced. Friends at DOI [Department of the Interior] have known that for years, for what it is worth.
Reducing Pollution is a Global Problem
The globe is now producing and consuming 200 million tons per year more than they were in 2000, and American production, and hence revenue and taxes from exporting coal as well as domestic markets is down 100 million tons. During Obama’s administration 95,000 American coal miners have been put out of work.
I didn’t make any of that up. Those are facts, and while America has been punished, we seem to be fighting the war against Global Warming and Climate Change without the cooperation or the rest of the planet. Germany, Japan and Scandinavia are installing new clean coal capacity mostly because they don’t trust the Russians or nuclear power.
The Politics of Betrayal
Meanwhile, we’ve been misled and lied to including by the President and the Left Wing and Progressives who do not understand and have never really wanted to understand because coal miners are just trash with few teeth to most Americans on both coasts. Meanwhile, China and India are going to bury the West coast in their pollution.
♦ Do I believe in Climate Change? Absolutely.
♦ Do I believe in Clean Coal Technology and Technology in general? Absolutely.
♦ Do I believe most Americans are the useful idiots that Saul Alinsky talks about? Absolutely, because it is Lenin and Saul who really looked and looks down on the intellectual short comings of most people.
People aren’t stupid–stupid cannot be fixed–but most are ignorant when it comes to peeling the onion and getting behind the political motives of each party.
So I pray. I hope you can read that without feeling I am condescending in any way but trying to use my experience, education etc. to make you more aware of how deep our problems run, including having a terrible person as our new POTUS.
The opinions in this post are those of Terry Jackson. He and ZipDialog welcome your response