Trump administration has recently taken the first decision to go against the industry that the President believes in most, namely the coal industry. A prominent coal executive asked support to win an emergency order that would have protected power plants based on coal. However, the CEO didn’t receive the help Donald Trump promised in the first place.
The White House Supported the Energy Department in Its Decision to Refuse Issuing Emergency Order for Coal Industry
The Energy Department was in full process of weighing in the cons and pros of issuing a crucial order for coal players. All plants that produce massive energy yet are promoting air pollution face numerous environmental regulations that translate in market stress. In the end, the department considered the order as unnecessary. Contrary to what Donald Trump promised, the White House supported this decision.
The outcome of this process is a rare display of friction between the coal industry and the President of the United States. Donald Trump claimed numerous times that he believes the U.S. economy has nothing but to gain from promoting coal-based plants.
Murray Energy chief executive Robert Murray stated that President Donald Trump showed him his commitment to the coal market numerous times both public and private. The Executive released several letters that attest these details.
The text informed the president that his withdrawal from this agreement would render thousands of coal miners losing their jobs. On top of that, thousands more pensions would become vulnerable overnight. However, the White House did not identify the claims that the president was first on board with this as true or not.
On Tuesday, spokeswoman Kelly Love made a public statement where she claimed that this measure was not good enough to aid the coal industry. However, she reminded the public that Trump showed many signs of his support for miners. Some of these actions were the withdrawal from the Paris Climate Agreement, and repeal of the “Waters of the U.S. Rule” and the Clean Power Plant.
Murray Energy Wanted Two-Year Moratorium to Counteract the Fatal Side Effects of FirstEnergy Solutions Filing for Bankruptcy
Murray wanted Trump to take advantage of a rarely used U.S. Federal Power Act. This bill enables the Energy Department to intervene in case of a crisis like war or natural disaster. At the same time, power plants receive a temporary exemption from abiding by environmental laws.
Murray Energy was planning to use this federal intervention to activate a two-year moratorium on coal-based plant closures. In this case, the emergency crisis concerns a crucial customer, FirstEnergy Solutions, which is nearing a status of bankruptcy. This event would take Murray Energy down as well.
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