June 3, 2014
OUR REPUBLICAN PRESIDENT:
Gas boom dulls carbon rule's effect (Don Lee, 6/02/14, LA Times)
In recent years new drilling techniques such as hydraulic fracturing, or fracking, have yielded an abundance of natural gas, and the regulation will speed up what had been a market-driven shift to gas. Natural gas now is expected to exceed coal as the primary source of electricity generation by 2030.The surfeit of cheap natural gas already has reduced U.S. dependence on foreign oil and become an important competitive advantage for domestic manufacturers. [...]Apart from its expectation of a more stringent carbon-reduction rule than what was proposed, the chamber assumed that new natural gas plants would have to install so-called carbon capture and sequestration equipment -- a potentially powerful but expensive system of mitigating greenhouse emissions.Based on the chamber's report, adding this technology in natural gas plants could double construction costs.But the EPA did not specify this as a requirement, instead giving states flexibility to meet emission targets through renewable energy, more efficient use of electricity and programs such as cap-and-trade, a market-based approach that lets states set a limit on carbon emissions and buy and sell permits to pollute.
Posted by Orrin Judd at June 3, 2014 8:31 PM