• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 34 mins Why Wind is pitiful for most regions on earth
  • 1 hour In a Nutshell...
  • 7 hours During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 17 mins Sources confirm Trump to sign two new Executive orders.
  • 2 days Joe Biden to black radio host, " If you don't vote for me you ain't black". That's our Democratic Party nominee ?
  • 2 days Putin Paid Militants to Kill US Troops
  • 3 days Happy 4th of July!
  • 3 days Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 3 days Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 4 days Victor Davis Hansen on Biden's mental acuity " . . unfit to serve". With 1 out of 5 Democrats admitting it. How many Dem's believe it but will not admit it?
  • 18 hours Coronavirus hype biggest political hoax in history
  • 3 days Apology Accepted!
  • 4 days The Political Genius of Donald Trump
2020 Will Be A Brutal Year For Coal

2020 Will Be A Brutal Year For Coal

After having entered in structural…

Foreign Coal Producers Get Boost From Coronavirus

Foreign Coal Producers Get Boost From Coronavirus

International coal trades are priced…

Why Is Warren Buffett Ditching His Coal Plants?

Why Is Warren Buffett Ditching His Coal Plants?

Legendary investor Warren Buffett, a…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

White House Shelves Coal Industry Incentives Plan

President Trump has reportedly cancelled a plan proposed by Energy Secretary Rick Perry to provide financial support for troubled coal-fired power plant operators, Politico says, quoting four unnamed sources familiar with the matter. According to the sources, the President made the decision prompted by opposition from his own advisers.

Last year, Energy Secretary Rick Perry proposed a plan for subsidizing coal and nuclear plants for providing base load generation—that is, round-the-clock power, but the plan was rejected by the utility regulators who said they will study the national grid’s resilience to supply interruptions. Many grid operators said they are already factoring in everything that has to do with their grid’s resilience to disruptions.

In June, the Federal Energy Regulatory Commission said it did not see any emergency in the U.S. electricity market that would merit financial aid for coal and nuclear power plants. The stance was announced by the panel regulating the national grid at a Senate hearing. The opinion is likely to undermine efforts by the Trump administration to save non-competitive coal and nuclear power plants on the grounds that they guarantee the grid’s resilience in case of emergency.

Now, advisors to the president from the National Security Council and the National Economic Council have also spoken against the plan that has raised the hackles of the oil and gas industry—another priority industry for Trump along with “beautiful, clean coal”. The bailout plan proposed by Perry largely sought to shield coal and nuclear plant operators from the suffocating competition of cheap natural gas.

But oil and gas producers are by far not the only stakeholders opposing a potential bailout for American coal. Pretty much everyone except the coal industry itself is against it. “The problem they’ve got is every option they might consider raises the costs for somebody at a time when nobody has an appetite for increased costs anywhere,” the co-head of an energy advisory company told Politico.

“I think that’s the problem they keep running into. The political will to pay for it is not broadly there enough yet for them.”

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News