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GE Crushes Obama's War on Coal
Townhall.com ^ | May 3, 2014 | Charles Payne

Posted on 05/03/2014 12:10:39 PM PDT by Kaslin

em>"Probably for the next decade, the most dominate technology around the world will be coal..."
-Jeff Immelt

The fastest growing source of energy in the world last year was coal, and it is going to stay that way for a very long time. With that in mind, one has to wonder why President Obama has insisted on the gut-wrenching destruction of the coal industry that has costs thousands of jobs, and has sent electricity costs to all-time highs. This, combined with last month's report from the International Energy Agency, state that reaching the goal of carbon emission reduction would cost $45 trillion; which means that any notion of a global deal to stop using coal would be folly.

The fact of the matter is that President Obama's Jobs Czar just crushed his domestic opposition to fossil fuels in general, but coal in particular.

General Electric (GE) is purchasing Alstom of France for $13.5 billion, so that they can be more competitive in the rapid growth of coal-fired power plants around the world.

America continues to heap more and more regulations on the coal industry, including demands for a so-called carbon capture system. This is a regulatory version of Bigfoot, since such a scheme only exists on paper, while the rest of the world is building their economies with the cheapest source of energy out there.

Ironically, real environmentalists have voiced concerns about the inherent risk of burying Co2 in the earth.

A Very Good Year

But now the days are short, I'm in the autumn of my years
And I think of my life as vintage wine
From fine old kegs
From the brim to the dregs
It poured sweet and clear
It was a very good year

'A Very Good Year'
-Frank Sinatra

It's no mystery that China and India will not sign deals to reduce their use of coal, and make no mistake, outside of the most jaded and aging developed nations the rest of the world is lining up to power with coal, and to take their shot at the good life.

While Alstom has struggled for more than a decade, it does have serious product offerings, including mills capable of crushing anywhere from 15 to 200 tons of coal per hour: that generates serious heat to steam turbines. The company has 20% of the world's installed base, and this has been a great year in the coal power plant business, outside of America:

Moreover, it has been a very good year; coal is making money all over the world and GE wants in on the action. Alstom has 65,000 employees, but only 14% are in France, as 80% of its business is outside that nation, and 85% of its business is outside the United States.

In the meantime, according to the Heritage Foundation, the war on coal will have a staggering impact on the entire nation and every single household - especially lower income households.

From 2015 to 2023:

http://www.heritage.org/research/reports/2014/03/epas-climate-regulations-will-harm-american-manufacturing

Forget all the pie-in-the-sky stuff about redistributing the wealth to the poor nations in return for them pledging not to use coal, the up and coming nations are not going to pause to genuflect toward the environmental idolatry of the White House.

The War on Coal is a lie, and it has always been a lie...

Today's Session

The jobs report headlines sent equity futures significantly higher this morning, but it all faded away as details emerged.

Positives:

> 288,000 net new jobs
> -287,000 long term unemployment
> 6.3% unemployment rate
> -0.3% U6 changes

Negatives

> 806,000 bolted from the job market - the participation rate is lowest since December 1978
> 3.5 million long-term unemployed
> 92,018,000 not in labor force
> 12.3 U6 number
The market is grappling with this number...and it should. I think it shows the resolve of the greatest economy ever, while at the same time it underscores the poor quality of the recovery.

This isn't a sell signal and I don't think it makes the Fed hike rates sooner, as average hourly earnings of $24.31 were unchanged from the prior month, and too many people are bolting the workforce.


TOPICS: Business/Economy; Culture/Society; Editorial
KEYWORDS: alstom; carbon; carbondioxide; climatechangehoax; co2; coal; coalpower; energy; envirowackos; epa; europeanunion; france; generalelectric; globalwarming; globalwarminghoax; greenenergy; keystonexl; necessarilyskyrocket; opec; resident0bama; waroncoal; waronenergy

1 posted on 05/03/2014 12:10:39 PM PDT by Kaslin
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To: Kaslin
We came close to "brown outs" during this winter ..
wait until this winter with all the coal mines closed out.
Lets' depend more on wind and solar .. ! (Sarc / sh*t head)
2 posted on 05/03/2014 12:15:34 PM PDT by Tilted Irish Kilt (Political Correctness is Tyranny .. with manners ! Charlton Heston)
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To: Kaslin

Obama has lots of wars or subwars that are part of the big war on America.


3 posted on 05/03/2014 12:15:46 PM PDT by FreeAtlanta (Liberty or Big Government - you can't have both.)
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To: Tilted Irish Kilt

If he had not put off his EPA push to shut down coal plants 2 years before the 2012 election, he would not have won. He is a sick, disgusting little man.


4 posted on 05/03/2014 12:17:03 PM PDT by FreeAtlanta (Liberty or Big Government - you can't have both.)
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To: Kaslin

Obama’s rent-seeking friends pointing out the obvious?


5 posted on 05/03/2014 12:22:10 PM PDT by GeronL (Vote for Conservatives not for Republicans!)
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To: Kaslin

I guess Jeff is OFF”The A-List”????????????????????????


6 posted on 05/03/2014 12:42:01 PM PDT by bandleader
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To: Kaslin

Bammy wants to destroy America, piece by piece.

Coal is one big piece.

Anthropogenic Global Warming is the rationalization.


7 posted on 05/03/2014 12:44:36 PM PDT by GladesGuru (Islam Delenda Est - because of what Islam is and because of what Muslims do.)
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To: Kaslin

The way you control these people is that you promise not to give a dime to anyone who votes for Obama’s green agenda. It really doesn’t take much to give Congress Critters poopy pants. This guy has a lot of guts —especially since GE is part of the establishment (loads of gov contracts etc.)


8 posted on 05/03/2014 12:49:11 PM PDT by brooklyn dave ( We need a Klingon for President!)
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To: Kaslin

For those that want to know what that picture is, it is a picture of units 1,2,& pat of 3 (4 not shown)f rom the north northwest in Colstrip, MT.


9 posted on 05/03/2014 12:58:17 PM PDT by WMarshal (Free citizen, never a subject or a civilian)
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To: FreeAtlanta

And they say that US corporations don’t put people to work. GE does. Too bad they can’t do it here, for some reason.


10 posted on 05/03/2014 1:07:29 PM PDT by The Antiyuppie ("When small men cast long shadows, then it is very late in the day.")
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To: Kaslin

Obama doesn’t have a war on coal. He has a war on Americans using coal. The Obama Administration is perfectly content with shipping that coal to China to be used in power plants with no pollution controls at all.


11 posted on 05/03/2014 1:23:05 PM PDT by Hoodat (Democrats - Opposing Equal Protection since 1828)
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To: Kaslin
Quite simply, Mullah Ubama considers America to be the enemy.

Allahu akbar!

12 posted on 05/03/2014 1:23:42 PM PDT by E. Pluribus Unum ("The more numerous the laws, the more corrupt the government." --Tacitus)
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To: Kaslin
The fact of the matter is that President Obama's Jobs Czar just crushed his domestic opposition to fossil fuels in general, but coal in particular.

I don't see this. GE just bought a FRENCH coal company. And they are very big in China. And no doubt all around the world. But Immelt has funded Obama's war against coal in the U.S. by giving him lots of cash to buy the elections.

I'd say this Jobs Czar is pretty good at building jobs in China and France.

13 posted on 05/03/2014 1:26:02 PM PDT by Cicero (Marcus Tullius)
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To: E. Pluribus Unum
Allahu akbar!

Et cum spiritu akbar.

14 posted on 05/03/2014 1:28:29 PM PDT by MUDDOG
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To: Kaslin

WOW! Immelt broke the lip lock on the lyin’ kings butt to speak?


15 posted on 05/03/2014 1:32:02 PM PDT by rktman (Ethnicity: Nascarian. Race: Daytonafivehundrian)
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To: rktman

COULD NOT have said it better myself. ;)


16 posted on 05/03/2014 1:39:11 PM PDT by itssme
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To: FreeAtlanta
FreeAtlanta:" He is a sick, disgusting little man."

Some people build others up ..
Some sabotage others to build themselves up !!

17 posted on 05/03/2014 2:14:05 PM PDT by Tilted Irish Kilt (Political Correctness is Tyranny .. with manners ! Charlton Heston)
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To: Kaslin

The Progressives want us all to live in projects and use mass transportation.

They want to give all our entitlements, be a good little union employee and never have a free thought.

GE is running the win win scam.

Buy their wind turbines, buy their quick start combustion turbines when the wind does not blow. Twice the money.


18 posted on 05/03/2014 2:16:22 PM PDT by hadaclueonce (Because Brawndo's got electrolytes. Because Ethanol has Big Corn Lobby)
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To: Kaslin

I’d be hard to convince me that GE was not colluding with nobama to force coal to use something GE has a patent on.


19 posted on 05/03/2014 5:01:29 PM PDT by X-spurt (CRUZ missile - armed and ready.)
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To: WMarshal

Thanks for confirming. I sort of recognized it from the “coal yard” view. Did a Sales/Tech call there 7 or 8 years ago. Beautiful country!


20 posted on 05/03/2014 5:04:42 PM PDT by X-spurt (CRUZ missile - armed and ready.)
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To: Kaslin

NOT ALL COAL COMPANIES ARE TREATED EQUALLY:

3-28-11 HuffPost

All the President’s (Coal) Men: Bill Gates, Warren Buffett and Obama’s Wyoming Giveaway

What really happened in Wyoming last week?

Perhaps we should ask billionaire coal hauler Warren Buffett, the “Oracle of Omaha.”

Energy and climate analysts and Big Green organizations are still staggering around for an answer to the Obama administration’s blockbuster news in Wyoming’s coalfields last week to greenlight the mining of an estimated 750 million-2.4 billion tons of coal on public lands. According to environmental analysts, “when burned, the coal threatens to release more than 3.9 billion tons of heat-trapping carbon dioxide, equal to the annual emissions from 300 coal-fired power plants.”

As Secretary of Interior Ken Salazar scrambles to explain his wildly exaggerated claims of the coal lease sales from his announcement, the truth is that this mind-boggling announcement comes on the heels of EPA administrator’s proposed new rules to crack down on mercury emissions from coal-fired plants — that will, in effect, continue the move away from coal-fired energy.

It would be easy to point an accusing finger at Salazar, the former cowboy senator from neighboring coal-rich Colorado who accepted massive amounts of contributions from dirty energy companies, and whose Bureau of Land Management quietly gave the green light for another 430 million tons of coal at the Antelope strip mine in Wyoming last year (within hours of the EPA’s crackdown on mountaintop removal mining operations in central Appalachia).

http://www.huffingtonpost.com/jeff-biggers/all-the-presidents-coal-m_b_841400.html


21 posted on 05/03/2014 5:07:26 PM PDT by Brad from Tennessee (A politician can't give you anything he hasn't first stolen from you.)
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To: Kaslin
Thanks for posting this article.

Redistribution to begin in 3... 2...

22 posted on 05/03/2014 5:25:10 PM PDT by kitchen (Even the walls have ears.)
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; cardinal4; ColdOne; ...
Thanks Kaslin.
The fastest growing source of energy in the world last year was coal, and it is going to stay that way for a very long time... reaching the goal of carbon emission reduction would cost $45 trillion; which means that any notion of a global deal to stop using coal would be folly... General Electric (GE) is purchasing Alstom of France for $13.5 billion, so that they can be more competitive in the rapid growth of coal-fired power plants around the world.

23 posted on 05/03/2014 5:36:17 PM PDT by SunkenCiv (https://secure.freerepublic.com/donate/)
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To: Brad from Tennessee

It looks like there is a war on Appalachian coal not Western coal.
The reason, the federal government gets little revenue from Appy’ coal because it it mined on private land., but Western coal is mostly owned
by the feds. Billions in severance are received. That is called killing your competition. Our federal government is a crack whore - anything for the
next fix (money).


24 posted on 05/03/2014 5:59:31 PM PDT by Doulos1 (Bitter Clinger Forever!)
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To: Kaslin; 11B40; A Balrog of Morgoth; A message; ACelt; Aeronaut; AFPhys; AlexW; alrea; ...
DOOMAGE!

Global Warming PING!

You have been pinged because of your interest in environmentalism, alarmist wackos, mainstream media doomsday hype, and other issues pertaining to global warming.

Freep-mail me to get on or off: Add me / Remove me

Please ping me to all note-worthy threads on global warming.

Interior would like a bigger firefighting budget because — you guessed it — climate change

GOP lawmaker suggests trading wage hike for Keystone pipeline

Keystone XL: State Dept. stalling because of complaints from overseas?

Global Warming on Free Republic

Latest from Global Warming News

Latest from Real Climate

Latest from Climate Depot

Latest from Greenie Watch

25 posted on 05/03/2014 7:25:02 PM PDT by Tolerance Sucks Rocks (The PASSING LANE is for PASSING, not DAWDLING)
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To: Tolerance Sucks Rocks

Did you see this? Kids having emotional problems caused by ‘global warming’ hysteria - lies and scare stories from ‘teachers’...

Youth anxiety on the rise amid changing climate ...

http://www.theglobeandmail.com/life/health-and-fitness/health/youth-anxiety-on-the-rise-amid-changing-climate/article18372258/


26 posted on 05/03/2014 7:47:52 PM PDT by GOPJ ( Are we finally going to get a smidgen of truth? - - Freeper Veto!)
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To: thackney

Ping.


27 posted on 05/03/2014 8:38:34 PM PDT by Army Air Corps (Four Fried Chickens and a Coke)
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To: Kaslin

bkmk


28 posted on 05/03/2014 10:08:13 PM PDT by AllAmericanGirl44
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To: Hoodat

Obama doesn’t have a war on coal. He has a war on Americans using coal. The Obama Administration is perfectly content with shipping that coal to China to be used in power plants with no pollution controls at all.


Not only no significant pollution controls, but at efficiencies that require 3-4 times as much coal to be burned per unit of work.


29 posted on 05/04/2014 7:10:03 AM PDT by lepton ("It is useless to attempt to reason a man out of a thing he was never reasoned into"--Jonathan Swift)
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