The US mining industry applauded the president’s recent energy speech on Energy Policy, indicating the administration provides an emphasis on creating a robust market for all sources of domestic energy that the president highlighted in his recent energy speech.
As an example, Quinn cited the repeal of needless and costly regulation on coal that will allow U.S. consumers to benefit from the world’s largest coal supply. The Clean Power Plan (CPP), recently proposed for rescission by the administration, illustrates the impact of regulations on energy production.
Under the Energy Information Administration’s latest reference case, US coal production will climb “significantly higher” without the constraints of the CPP, rising from 740 million short t last year to almost 900 mst by 2025. The resulting 280 million short t annual increase throughout this period could support the addition of 25 000 high-wage miners and ensure households and businesses have a more reliable supply of affordable electricity. Meanwhile, advanced technology is driving emissions reductions, with new coal plants today emitting up to 90% fewer emissions than those they replace.
US coal exports, projected to rise this year to more than 71 mst, also serve the needs of the estimated 1.1 billion people in emerging economies who today lack access to affordable electricity. Every million tonnes of coal exported supports 1320 jobs throughout the US economy paying an annual average of more than US$90 000.
According to the NMA President and CEO, the nation’s basic industries will benefit from a supply-side energy policy that promotes all energy sources. “US mineral and metal mining is one example of an energy-intensive industry operating in a high-cost environment that is better able to compete in global markets with lower and less volatile energy costs,” Quinn said.
Quinn expects additional priorities for energy de-regulation may be identified next month from Energy Secretary Perry’s assessment of the impact of regulatory policies on baseload power.