Coal set to become world's largest source of energy in five years
Evidence keeps pouring in rebutting those who claim the Environmental Protection Agency's newest draconian regulations have no practical effect on our energy sector. (And really, if they actually have no practical effect, why do they exist again? Please.)
The most recent piece of evidence comes from the International Energy Agency (IEA) which reports that by 2017, coal is set to become the world's largest source of energy. An extra 1.2 billion tons of coal per year are expected to be consumed over the next five years.
The reasons for this are two. First, population growth means more people and more energy demand. Second, countries like India and China continue to push into the new millennium, investing in new infrastructure and improving the quality of life for their citizens. A more affluent world also means higher demand for cheap energy.
This is all good news for Kentucky's energy sector - as long as the EPA doesn't succeed in its harebrained mission to snuff it out completely. The most recent piece of regulation, enacted after the current administration was re-elected, is designed to reduce soot from industrial boilers and incinerators. I didn't realize we had a "soot problem" here in Kentucky, but I suppose the $350 million price tag is worth it? As a result of these sorts of regulations, sites like Kentucky Utility's Ghent plant are forced to implement costly equipment alterations designed to reduce emissions by fractions. The most recent price tag the EPA pinned on the Ghent plant is $57 million. No doubt, rates will be raised on homes and businesses.
Still, there's huge business in coal exports and it's only set to increase. What an outlet for Kentucky, the nation's third largest coal producer. And what possibilities for Kentuckians who could benefit greatly from the EPA, allowing us to unleash the natural power found beneath our soil.