The gulf between the hard realities of the global energy market and the Obama administration’s energy policies grows wider by the day.
On Wednesday, Heather Zichal, the White House coordinator for energy and climate change, told a group of reporters that Obama, knowing that climate change is “a legacy issue,” will soon issue new rules to limit carbon-dioxide emissions from electricity-generation plants. “After all that we’ve done, after all that historic progress in the first four years, we are well poised to take meaningful action for the second term,” Zichal said.
Obama’s looming skein of regulations is being promoted just one week after BP issued its latest Statistical Review of World Energy, which provides yet more proof of two indisputable facts: Even without more regulations from the White House or the EPA, the U.S. continues to lead the world in reducing carbon-dioxide emissions. And while the U.S. may be cutting its coal use (and, therefore, its carbon-dioxide emissions), the rest of the world continues to binge on coal. ...
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... The biggest factor, though, in America’s success in cutting emissions has been the shale gale. A tsunami of natural-gas production has been unleashed in recent years thanks to continuing improvements in extended-reach horizontal drilling and hydraulic fracturing. Domestic natural-gas production was up 4.7 percent last year, to a record 65.7 billion cubic feet per day. That increase in production has led to cheaper natural gas, and that cheap gas is displacing coal at the power plant.
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On Wednesday, Heather Zichal, the White House coordinator for energy and climate change, told a group of reporters that Obama, knowing that climate change is “a legacy issue,” will soon issue new rules to limit carbon-dioxide emissions from electricity-generation plants. “After all that we’ve done, after all that historic progress in the first four years, we are well poised to take meaningful action for the second term,” Zichal said.
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