Ky. legislators criticize plan to cut coal subsidies
source: http://mcclatchydc.com
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"Coal subsidies are costly to the American taxpayer and do little to incentivize production or reduce energy prices," said a White House Office of Management and Budget analysis released Monday.
By Halimah Abdullah - habdullah@mcclatchydc.com
WASHINGTON — President Barack Obama's fiscal 2011 budget would cut roughly $2.3 billion in coal subsidies during the next decade, a move Kentucky lawmakers worry will mean heavy job losses in economically poor but coal-rich regions of Appalachia.
"Coal subsidies are costly to the American taxpayer and do little to incentivize production or reduce energy prices," said a White House Office of Management and Budget analysis released Monday.
"Removing these subsidies would reduce greenhouse gas emissions and generate $2.3 billion of additional revenue over the next 10 years, an amount that represents only a small percentage of annual domestic coal revenues — about 1 percent over the coming decade."
The cuts, along with the repeal of roughly $36 billion in subsidies to the oil and gas industry, is part of the Obama administration's efforts to uphold an agreement struck last year during the G-20 summit in which member nations committed to phase out fossil fuel subsidies to help reduce global greenhouse gas emissions by 10 percent.
Lawmakers from Kentucky, which relies heavily on the coal industry for jobs and cheap electric rates, have vowed to block the proposed cuts.
"Senator McConnell opposes both the president's proposed new national energy tax and the tax on coal included in his budget outline unveiled today," said Robert Steurer, a spokesman for Senate Minority Leader Mitch McConnell, R-Ky. "Both would hurt Kentucky families who are dependent on coal for their livelihood."
Rep. Ben Chandler, D-Versailles, who voted last year for a measure that would cap carbon emissions and fine companies that go over set limits, expressed concern about the Obama administration's proposed budget cuts. (more)
http://www.kentucky.com/latest_news/story/1120882.html
“The Energy Avenger meets with Judicial Disconsent, and sighs…”
quilt patch from The Great American Energy Quilt Project 2010
Dedicated to Dr. James Hansen, Coal War Hero, arrested for nonviolent civil disobedience against Massey Energy 2009
http://coalwar.tumblr.com/post/367069362/the-energy-avenger-meets-with-judicial
By Halimah Abdullah - habdullah@mcclatchydc.com
WASHINGTON — President Barack Obama's fiscal 2011 budget would cut roughly $2.3 billion in coal subsidies during the next decade, a move Kentucky lawmakers worry will mean heavy job losses in economically poor but coal-rich regions of Appalachia.
"Coal subsidies are costly to the American taxpayer and do little to incentivize production or reduce energy prices," said a White House Office of Management and Budget analysis released Monday.
"Removing these subsidies would reduce greenhouse gas emissions and generate $2.3 billion of additional revenue over the next 10 years, an amount that represents only a small percentage of annual domestic coal revenues — about 1 percent over the coming decade."
The cuts, along with the repeal of roughly $36 billion in subsidies to the oil and gas industry, is part of the Obama administration's efforts to uphold an agreement struck last year during the G-20 summit in which member nations committed to phase out fossil fuel subsidies to help reduce global greenhouse gas emissions by 10 percent.
Lawmakers from Kentucky, which relies heavily on the coal industry for jobs and cheap electric rates, have vowed to block the proposed cuts.
"Senator McConnell opposes both the president's proposed new national energy tax and the tax on coal included in his budget outline unveiled today," said Robert Steurer, a spokesman for Senate Minority Leader Mitch McConnell, R-Ky. "Both would hurt Kentucky families who are dependent on coal for their livelihood."
Rep. Ben Chandler, D-Versailles, who voted last year for a measure that would cap carbon emissions and fine companies that go over set limits, expressed concern about the Obama administration's proposed budget cuts. (more)
http://www.kentucky.com/latest_news/story/1120882.html
“The Energy Avenger meets with Judicial Disconsent, and sighs…”
quilt patch from The Great American Energy Quilt Project 2010
Dedicated to Dr. James Hansen, Coal War Hero, arrested for nonviolent civil disobedience against Massey Energy 2009
http://coalwar.tumblr.com/post/367069362/the-energy-avenger-meets-with-judicial
