No one in his right mind is expecting a Climate Bill this congressional session. But the party’s over anyway.
Increasingly harsh regulation in the US and abroad is creating an existential crisis for carbon polluters. They HAVE to solve their CO2 problem or they won’t expand, won’t open new facilities, and may even close.
Politico made that point this morning:
“Big Coal’s friends on the Hill are telling them not to pop the Champagne too soon. Even without a climate law pricing carbon, the landscape is about to change for the worse for America’s most abundant — and dirtiest — source of fuel. New clean air and water regulations set to kick in next year, combined with a boost in new natural gas supply and a projected nuclear renaissance, mean that with or without a price on carbon, coal could soon go from the cheapest and most popular source of electricity to a pricey, onerous third choice. Already, new studies are showing coal’s market share set to decline significantly in the coming decade.”
POLITICO story http://www.politico.com/news/stories/0710/39983.html