4 Responses to Slowing Down the Coal Train
Thanks in part to mounting attacks from a variety of sources (including Climate Progress), we can be more optimistic about the future of restrictions on coal plants.
TXU Corporation, a major Texan energy provider, once had 11 new coal-fired plants slated for construction. Drawing environmental criticism, TXU stock prices fell, leading to interest in the company from two large equity firms to purchase it. With a $45 billion price tag, the companies have succeeded and, to an extent, so have the envirionmental groups.
Now only three of the original plants will be built and TXU has committed to reduce greenhouse gas emissions and increase investment in its customers energy efficiency efforts. The pressure on this issue has been huge: it has come from politicians, grassroots work, and experts alike.
It’s a small victory with larger implications, according to one NY Times editorial. The main implication is for federal legislation – and with business, political and civil interests involved, the timing is ripe.