Report: Plan to Revitalize Coal Industry Dropped by Administration

The news site Politico is reporting that Energy Secretary Rick Perry has essentially hit a brick wall in the administration when it comes to plans to revitalize the coal industry.

The article, which you can read HERE, says he has proposed several ideas to prop up the ailing industry including invoking national security to keep coal fired power plants and some aging nuclear plants running. But many of the President’s advisors have turned thumbs down on the proposals, in many cases due to increased costs involved.

The Politico article says many top aides have soured on the idea of any major intervention in the power industry, primarily due to the expense involved, to keep plants running.

The article says, “One of Perry’s biggest problems in formulating a bailout is figuring out who would pay the billions of dollars needed to keep money-losing power plants operating — raising the specter that electric customers would have to cover the cost in their monthly utility bills.”