Heavy loads of coal will soon burn again in the United States after President Trump followed through on his campaign promise to support the primitive coal industry, regardless of the impact it has on earth and its inhabitants. On Tuesday Trump showed up the headquarters of the Environmental Protection Agency, surrounded by coal miners and executives and signed an executive order to undo Obama-era climate change regulations.
The order demands the EPA begin undoing the Clean Power Plan, a plan Obama introduced to the world in 2014 that never went live due to pressure from Republican controlled states.
Beyond the implications for global warming, Trump’s decree is a threat to public health, according to New York Attorney General Eric Schneiderman who has vowed to fight the order.
“We won’t hesitate to protect those we serve — including by agressively opposing in court President Trump’s actions that ignore both the law and the critical importance of confronting the very real threat of climate change,” – NY AG Schneiderman
The Clean Power Plan was essential to the U.S. meeting its targets laid out in the 2015 Paris Climate Agreement. Trump appears to be ignoring the advice he received earlier this year from ExxonMobile, who strongly urged the administration to keep America in the Paris climate accord.
China sees this as a misstep by the Americans, and plans to take the lead in clean energy and subsequently be the biggest hero of the Paris agreement. The People’s Republic, a land where recycled gutter oil is used to cook street meat, intends to be more active in saving planet earth.
Nations led by China and the European Union are rallying around a global plan to slow climate change https://t.co/zpZvxxpz87
— Climate Central (@ClimateCentral) March 29, 2017
Now it may be difficult for this science to penetrate your thick skull, so let’s simplify it, shall we?
Alls I know is a pot of water boils faster when you put a lid on it…
Fox News had some fun with the signing of the executive order, sending a journalist out on a dingy to the Edwards generating station, a coal-fired plant to tell a sad story about $DYN getting caught holding the coal bag back in 2015.
— FOX Business (@FoxBusiness) March 28, 2017
The boater and reporter notes at the end of his segment that natural gas is much cheaper than coal, and that it also produces less unsightly smoke from the stacks.
Coal stocks are higher on the news, as you might imagine. Top plays inside Exodus include $CNX $WLB and $AHGP. The big loser of the group is $BTUUQ probably because, among other issues, it has way too long of a ticker symbol.
Another play on Trump destroying the world is simply the coal ETF $KOL.
Trump is doing what he promised on the campaign trail. He is undoing all the good Obama has done to put us on a path to sustainable energy production. The executive order signed Tuesday is likely to make coal executives rich beyond their wildest dreams, in dollar terms, regardless of the impact on their health and family.Comments »