Statement Of Peabody Energy (NYSE: BTU) On National Carbon Plan
ST. LOUIS, June 25, 2013 /PRNewswire/ — Peabody agrees with President Obama that greater use of clean coal is essential. We also support his proposals to increase deployment of higher-efficiency generation; expand research in carbon capture, use and storage technologies; and advance coal generation in poor nations. We would go further and say that all nations need the clean, reliable, low-cost electricity that coal-fueled generation provides.
Such elements are a key part of the Peabody Plan, and it is good to also see these in the President’s proposals. The Peabody Plan seeks to achieve universal energy access by 2050 in a way that puts people first and advances society’s important goals of energy security, economic growth and environmental solutions.
At the same time, any actions that would reduce coal-fueled generation harm Americans, who would feel the same pain at the plug that we all feel at the pump.
The best economies in the world continue to turn to coal. Nations such as China and India are increasing coal use as hundreds of millions of people experience the dual benefits of electrification and urbanization. The U.S. is seeing a sharp rise in coal-fueled generation in 2013 as the most economic choice, with natural gas prices doubling from 2012 lows.
SOURCE Peabody Energy