Statement From Peabody Energy (NYSE: BTU) On EPA's Proposed Greenhouse Gas Rule
ST. LOUIS, Sept. 20, 2013 /PRNewswire/ -- Peabody believes that the U.S. Environmental Protection Agency's (EPA's) proposed rule, if advanced, would cause consumers' power bills to skyrocket over time and cause more pain at the plug than Americans have experienced at the pump.
Carbon capture and storage technology is simply not commercially available and not able to satisfy America's need for low-cost electricity. Advanced supercritical generation is the best technology available today, and the standard that EPA should follow.
This type of experiment has been tried – and failed – in Australia, the European Union and California, and it has led to soaring power prices, exported jobs and slumping economies.
Peabody believes the EPA's plan is outside the realm of the law, fails to protect the American consumer, and will hurt electric reliability and America's ability to compete.
Peabody Energy is the world's largest private-sector coal company and a global leader in sustainable mining and clean coal solutions. The company serves metallurgical and thermal coal customers in more than 25 countries on six continents. For further information, go to PeabodyEnergy.com and CoalCanDoThat.com.
SOURCE Peabody Energy