Who says President Obama doesn’t have an energy policy? Coupled with dramatic limits on mercury emissions issued in December, new EPA rules will fundamentally reshape power generation in America. Aside from the 15 plants already under construction, there will probably never be another coal-fired electric plant built in the United States. This represents a wholesale reordering of America’s power industry. It’s a policy all right, but one where no one really knows the long-term consequences.
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