Obama Power-Plant Rule Signals Demise of ‘Old King Coal’
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President Barack Obama’s proposed carbon-dioxide rules for power plants effectively prohibit new coal power plants, buttressing a shift away from a power source that fueled the Industrial Revolution to cheap natural gas.
Obama’s Environmental Protection Agency proposed the first limits on greenhouse-gas emissions from U.S. power plants yesterday, setting a standard natural-gas facilities can meet. A new coal plant would need carbon-capture technology, which industry advocates say isn’t available at competitive rates.