Last week, Senate Majority Leader Harry Reid announced his opposition to three proposed coal-fired power plants in Nevada. The plants would have taken away much needed water in the arid region, and added more greenhouse gases that contribute to global warming. Sen. Reid said in a story by the Associated Press, "All these power guys want to do is steal our air and water," and vowed that he's "going to do everything I can to stop it."
Citigroup downgraded stock values in coal comapnies from "buy" to "hold" last month, as the industry faces "grim second quarter earnings." Pending legislation curbing greenhouse gas emissions and the growing trend to look towards cleaner, renewable energy supplies puts the value of coal stock at risk.
In Florida, recent work by Earthjustice attorneys in our Tallahassee office helped convince the Florida Public utility Commission to deny permits to build the nation's largest coal-fired power plant just to the north of Everglades National Park. Earthjustice has also been active in opposing a proposed, federally underwritten, coal plant in Great Falls Montana. The federal agency underwriting the plant, the Rural Utility Service, plans to underwrite an additional seven dirty coal power plants in other states. A victory in an anticipated Earthjustice lawsuit challenging the federal financing of the Great Falls plant would likely affect federal subsidies for other plants as well.
Coal is a fossil fuel whose time seems to be waning. Americans want cleaner energy, a cleaner environment, and a cleaner future. Coal just can't be part of that equation.