The Supreme Court’s Climate Change Decision
I know, the Supreme Court’s climate change decision on EPA’s power over regulating is as insane as DJT. However, rather than obsessing over something that we cannot change…ie, their decision, let’s take solace in some recent market trends. As reported in the Washington Post, Jeffrey Homestead, ESQ…an attorney who represented coal fired utilities and mining interests is quoted as follows:
“Over time it’s clear for reasons largely unrelated to regulations that the U.S. power sector is moving away from coal. In my world it is astonishing.”
Wow…Talk about a court that is out of touch. Even Duke Energy…a long time user of coal is transitioning out of coal by 2035 according to their climate policy director.
Further, the market has shrunk for the use of coal by 35% over the last seven years.
The market for coal is going away. Even before the court made its looney call, coal use had decreased below the level called for in the EPA regulation. And by the way, that is eleven years ahead of schedule!
While world affairs may very well increase coal use for a short time, it is clear that as bad as the Supreme Court’s climate change decision is, the market is at least correcting a problem faster than a regulator can.
Read The Full Article Here:
The U.S. is ditching coal. The Supreme Court ruling won’t change that.