The image of a 7 foot bronze coal miner now welcomes visitors to the site of the Quecreek Mine in Somerset, PA where nine miners were successfully rescued after 77 hours of frigid darkness that captivated the world. The miners emerged from the dark, cold mine where they were trapped 240 feet below soggy and cold, but alive to the cheers of thousands.
I live just outside Pittsburgh, Pennsylvania. I grew up in coal country – steel country! You may have heard of our Pittsburgh Steelers?
Pennsylvania has been a “blue” state all my life … with only a few years of Republican influence. We are in the middle of a war zone right now that extends throughout West Virginia and Ohio and Pennsylvania. This adminstration’s aggressive support of newer “green” energies to the neglect of those energies that fuel us now are driving energy prices up and hurting, yes, you guessed it, the middle class. The Union bosses still aggressively push the failed Democratic agenda, but there is increasing evidence of a strong rebellion among the rank & file – evidence that many union members will vote against OBAMA and support Romney with his plan to jump-start the economy. The policies of this president hurt our nation, and challenge the people to ind another way. Before the coal industry is dead, let’s vote ROMNEY the chance to revive it while we continue to explore safe and efficient alternatives.
Obama Fails as Energy Investment Officer- in-Chief
While the liberal media obsesses with jobs losses from Bain Capital’s private equity investments, it conveniently ignores the mounting economic cost of President Obama’s command and control energy policy that has destroyed billions of dollars in investment capital in the coal and renewable energy sectors.
The high profile bankruptcy of Solyndra that drew initial attention to Obama’s aggressive support of renewable energy and highlighted his failed business acumen will be only the tip of the iceberg.
With such staggering losses in capital currently being accumulated in publically traded companies, additional bankruptcies and massive job losses will soon follow.
Using the regulatory controls of the Executive Branch, Obama wanted to bankrupt the coal industry and replace its electricity production with renewable energy.
Obama’s centralized planning failed.
The President’s strategy to bankrupt the coal industry is on track, but the renewable energy sector is also suffering catastrophic losses for investors trying to cash-in on Obama’s clean energy economy.
The President’s energy policy is having devastating consequences for coal mining stocks and the plummeting share price correlates with Obama’s regulatory assault.
On July 6, 2011 when the EPA issued the Cross-State Air Pollution Rule (CSAPR), Peabody – the largest coal company – had a closing share price of about $60 a share. By the time the EPA followed with the Utility MACT Rule – another regulation that targets coal-fired utilities – in December 2011, Peabody’s closing price was $34.
When the EPA issued its proposed rule to limit greenhouse gases from power plants on March 27, 2012, Peabody was trading at $29 and during the second week of June it’s trading around $23. That’s about a 60% drop in price in less than a year.
Alpha Natural Resources, Arch Coal, James River Coal Company and Patriot Coal – smaller coal companies – suffered devastating losses of about 75, 71, 84 and 89 percent respectively, during the same period.
The crashing of these stocks simply reflects the staggering regulatory cost of these regulations on utilities – the coal company’s customers. The Utility MACT Rule, for example, is expected to cost about $10 billion a year and the proposed greenhouse gas rule, if enacted, would be a de-facto ban on new construction of coal power plants.
It’s been estimated that 57 to 140 coal-fired power plants will be closed, all or in part, due to the Utility MACT and CSAPR Rules.
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As you know, I’m a coal miner’s son. I personally experienced the “creative destruction” of the anthracite coal mining industry in 1956. Low cost Strip Mining was the replacement. Caterpillar heavy equipment was cheaper than unionized miners. So was cheap land and coal veins reached almost to the surface in that part of Pennsylvania. In those days, no one complained about the ugly sulfur water filled trenches, undermined homes, and burning methane gas fields as the final outcome. Exploitative low wage small manufactures of aluminum screen doors, lamps, clothing, and shoes were encouraged to move in with government subsidies and locally build plants. A miner’s pride was certainly not subordinated for $1/hour work all the “new” jobs payed! So, their wives took the jobs!
I think President Obama was a child then. I also have much experience with your Monongahela “rust belt” and Bethlehem Steel deconstruct of the 80′s. Ronald Reagan was president then.
My Penn State educated brother (economics) was the youngest “stainless steel melter” at Crucible Steel in Midland PA. Also the youngest in the nation at 38. As you know, Colt Industries took over Crucible in the 80′s junk bund bubble and fired hundreds of union steel workers. Colt also eliminated “defined pension” plans. Since my brother took a management job after 15 years in the union, he lost most of his pension. By the time my brother died at age 62, Colt was operating a single Basic Oxygen smelt, the latest technology, so my bro said as he looked for other work in his 50′s. I think there were less than 240 employees then. All non- union. All profits were shipped back to Colt headquarters in NY. Very little was reinvested in Midland. It was assumed the product was thereafter used for “gun barrel” steel. Need wars, military build-up, or the hyper NRA for that market to grow.. Again, Ronald Reagan was president then….
I cannot argue your experience any more than you can argue mine. It is apparently, like many issues, a matter of perspective. The conclusion, however, is arguable. Do you really think President Obama is better for our economy, for our people, for our place in the global community? I am not a huge Romney fan, but I am certainly willing to give him a shot. Can’t fail more miserably than Obama has in just about every issue!
Hi Barb. Reference your question to me, “Do you really think President Obama is better for our economy, for our people, for our place in the global community?” Sure! His vision for America is as traditional as “Apple Pie”. “We are all in this together”. A few of my ultra-conservative friends believe that statement is code for socialism, especially when he does his job as US President to find political solutions for America’s current economic and social problems. Obama understands many people have different good political solutions. Or, America is not about political solutions at all–individuals can find their own solutions. America should use the best solution available irrespective of ideology. Obama also has a strong and informed world view, including guidance of his God. Many refuse to believe that–pure politics. Sure, political solutions must be within the dictate of the US Constitution–as interpreted by the US Supreme court, a body of men and women. Many Christian believe that is not a document written by Man, but God. That is a very dangerous perspective. God’s word is interpreted, misinterpreted, and reinterpreted daily. What does one want to “believe”? I think you would understand that too. As a minimum the best solutions are based on objective reasoning, hard data, and facts. I know many devout Christians reject Social Theocracy (Catholic perspective) these days. In America, one is free to do that. They feel they are free individuals that can make it on their own, with the help of their God. For most Americans, that is a very viable belief if you truly understand America. However, I believe Obama is a full range thinker and is advised daily by very astute and practical professionals with a full range of ideas. A leader of a great nation must be intellectually honest, forthright, and certainly tolerant of diverse ideas and people. He must be free, in mind and spirit, to act on the best solution available for all his citizens and diverse peoples of the world. I know Obama is such a President. That is his job–period. History demonstrates rigid ideology just does not cut it. Think the Third Reich, Imperial Japan, Soviet Union, and yes, the John Birch Society and Project For A New American Century.
Oh HOGWASH! What a pile of bologna that was! Yup, I read every word!
We-the-people are NOT ideologues! We are really very simple in our wishes. We want the government OUT of our personal business. The primary duty of the federal government is to secure our borders and provide for the national defense! It is also to provide access to commerce … just about everything else is up to the individual. It is up to the CHURCH/FAITH to tend the poor – it is NOT government’s duty no matter how one stretches and perverts the Constitution!
We want Obama – GONE! Why? Jobs continue to disappear, unemployment has not changed … for over 3 years, the national debt has multiplied beyond comprehension. He has compromised our military in a time of “war”, he has opened our Southern border to any and all comers even though there are not enough jobs, house, schools etc for our own CITIZENS. He authored FAST & FURIOUS (we know this since he invoked Executive Privilege) which caused the death o a border patrol agent and hundreds of Mexican citizens … The list goes on and on. He will be recorded as the WORST president in American history, and you delude yourself to think otherwise.
We all know corporations or businessmen will not forego profits to prevent collateral or direct damage they enflict on American citizens–unless laws says they must. And, those laws are enforced! Your article, and the enclosed Coal Industry piece, insinuate Obama’s EPA is out to intentionally destroy the coal industry. This is pure political propaganda. I lived the direct impact on our environment and miner health produced by coal companies. I read the environmental science and believe it. Coal energy contributes greatly to disasterous global warming–period. What is a scientist’s motive to lie about his ecological findings? Self interest? All their data are collectively reviewed by the scientific profession. Distortion or deceit leads to the conclusion of a scientists career. I certianly know, as you should, the industry has a very large ecomomic motive to lie about their pollution. My coal miner comments relate: The Coal Industry will self distruct when the coal market shrivels. “Middle Class” jobs will need to be found somewhere else–alternative clean energy? The coal market will disappear primarily because the Coal and Electricity Industries refuses to clean up their product and biproducts. That cost must be addressed as a normal “cost of doing business”. That cost must be factored into the price of coal and electricity. Free markets will determin if that price is acceptable. That is the principle of a Free Economy.
There is more money in Hollywood – which is the same as Obama’s pocket – than most CEO’s unless you’re talking about GE or APPLE or … and then there’s SOROS and ROCKEFLLER and their cohorts …
Ref: Oh HOGWASH! What a pile of bologna that was! Yup, I read every word!
Well Barb, you are absolutely right about alternative perspectives. HOGWASH followed immediately with uninformed dogma was the response I expected. I will not spend time arguing you Obama perseption. Yours is not the only Christian oriented blog out there that illuminates personal visceral hate for Obama. America seems to be transitioning from “Amazing Grace” to “Amazing Wrath”. We as a nation really need to tone all that angry negativism down and start working together at all institutional and political levels. Please do not allow yourself to get swallowed up in “Obama is out to enslave us”. That is blatant incitement propaganda. You seem to be sure the purpose of our federal government is to provide national security via military means only. I’m sorry for your misinformed opinion. History shows that is not true, but also is a very misinformed take on the US Constitution. You truly believe Christian folks will solve all problems. That’s commendable. Well, I truly believe Christianity, on a personal level, is humanely productive and individually beneficial. Those values can certainly help solve many social/economic problems–if communal in nature. I know most astute Christians understand that value system. Jesus Christ was a brilliant philosopher. However, I also think it is very wise for religiosity to stay out of the political sphere. History is not kind to man’s religiosity and the wars it produced. Read up on secular humanism when you have time. We are not bad people. Unfortunately; the good deeds Christian folks provide, simply scratch the surface in a nation of 340M diversified Americans and gross inequality of wealth. Where has Christianity failed? It hasn’t. I suggest it’s an inhumane “dog-eat-dog” economic issue more than a values issue. Frankly, it is terribly hard for me to reconcile the goodness of Christianity with the rapacious nature of laissez faire capitalism. One needs to accept the fact that governmental solutions addressing social, economic, and political issues would not exist if individuals and families were capable of providing them alone. Thinking more of Abe Lincoln’s government of, for, and by the people helps too.
Yours is not the only Christian oriented blog out there that illuminates personal visceral hate for Obama.
Seriously? Personal visceral hate for Obama? Apparently, you are unable to read, sir! There is not a word of hatred in my blog – written by me! My hatred is not toward Obama, but toward his tried & failed (repeatedly) and tried again just for fun – at the expense of the middle class, of course, policies/agenda. He reuses to listen to the people who hired him to represent them, and he refuses to listen to the economic indicators that come out every month. It doesn’t help that the media white washes everything he says & does, ignores his many gaffs … yada, yada, yada.
It’s a good thing George Washington, John & Samuel Adams and the many other “Founding Fathers” understood that while each individual needs to have the liberty to worship as he or she chooses, morality is a requirement for liberty to survive. This is why we are where we are! What liberals in general fail to understand is just because we do not want the government to control it, doesn’t mean it should not exist in society. Ever read The Law, by Frédéric Bastiat? From a coming post here, “Socialism, like the ancient ideas from which it springs, confuses the distinction between government and society. As a result of this, every time we object to a thing being done by government, the socialists conclude that we object to its being done at all. We disapprove of state education. Then the socialists say that we are opposed to any education. We object to a state religion. Then the socialists say that we want no religion at all. We object to a state-enforced equality. Then they say that we are against equality. And so on, and so on. It is as if the socialists were to accuse us of not wanting persons to eat because we do not want the state to raise grain.” ~ Frédéric Bastiat
Frankly, it is terribly hard for me to reconcile the goodness of Christianity with the rapacious nature of laissez faire capitalism. One needs to accept the fact that governmental solutions addressing social, economic, and political issues would not exist if individuals and families were capable of providing them alone. Thinking more of Abe Lincoln’s government of, for, and by the people helps too.
What you fail to take into consideration is Humans are IMPERFECT! therefore, NOTHING o, by, for humans will be imperfect. The truth o the matter is that the CHURCH or institutions of faith SHOULD be carrying the load, but then NOTHING should be handed out for free! NOTHING! Even if it’s not money, everyone has something of value to offer. A church with a food pantry, could allow an out of work person to drive for a shut in … cook for soup kitchen … any number of opportunities that would preserve human dignity while meeting MORE than 1 need. Even mentally or physically challenged can usually offer something … reading to a child, playing cards with a Senior … because in this life, NOTHING is FREE – it costs someone something! That would also diminish the numbers of those able-bodied individuals choosing not to work, rather than the current administration encouraging even working individuals to apply for food stamps! Charity is not charity if it’s mandatory, but it should be encouraged within communities & neighborhoods.
So you believe Lincoln was all about the nanny state? Ugh, please!
“You seem to be sure the purpose of our federal government is to provide national security via military means only.”
“…in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity..”
The general welfare, not yours, not mine, a healthy country, not broke.
Christianity is the most individual of religions, as a Christian, I am responsible to God for every action I make, as is everybody else. Nothing collective about it at all. Jesus was no philosopher at all, He is God made man and spoke eternal truth.
Moral relativism is nothing but a human being trying to say there is no difference between good and evil, and is not only false but, evil itself.
Capitalism, real capitalism not crony capitalism like this administration indulges in is the only system that provides for objective rewards for the individual. And sorry, I’m not a huge Lincoln fan, I prefer Andrew Jackson, who ran the government according to Lincoln’s pretty words. if you don’t like what your making, work harder, or more effectively.
As a friend of mine says, “When one has to strain to avoid the plain meaning, it may be better not to.”
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Balderdash. Global warming? Oh, you mean Al Gore’s get rich(er) quick scheme. I note that Patriot Coal declared bankruptcy yesterday, those jobs are gone, courtesy of Obama. If alternative energy is so good, how come the even Chimese with their slave labor can’t make money on it. And where is your electricity going to come from on dark, still night?
Scientists motives? Government grants, follow the money. Every bit of global warming/climate change has been discredited.
I don’t happen to know a lot about the coal industry but, I did watch from the inside as American steel commited suicide. Why? Because the unions wouldn’t give a nickel as the companies were losing millions. And that’s why i never felt sorry for them. I knew people in the mills in the 60s that leaned on a broom all day for $20 an hour. That who killed them.
Obama needs to be gone, period. Maybe, just maybe then we can save the country. If not, learn to speak Greek.
Exactly! The unions priced themselves out o the market … that’s true or just about every union/product/service!
The coal industry is again in trouble because of free markets. It’s unfortunate folks keep denying the damage carbon energy is doing to our atmosphere, especially coal. China is wise enough to acknowledge that, because they are “early investing” heavily in alternative clean energy. If one knows anything about risk investment, they would understand returns are minimal or nonexistant when investing in emerging markets. It’s all about future positioning for dominance within the market. Climate deniers may be right. We can only hope they are not mistaken for our children’s sake.
Yes, your right about a $40/hour (including benefits) laborer hauling a wheelbarrow of molybdenum. Yes, he was a member of the steel workers union. He also made enough money to buy a home, boat, well equipped pick-up, RV, and send his kids to college. Consumer! He was assured that if he lost a leg or arm, or had a heat stroke in the mill, he would not go bankrupt to get well again. He had what Christian folks would rejoice–security and contentment. At best, he was the greatest of consumers that drive markets that drive job creation. So folks, when you buy your next auto with Chinese steel made at $3/hour, plus dormitory living, don’t expect a phenomenal price deal. I would bet you the cost savings from cheap offshore labor will not be passed to you. You will pay what the “market will bare”. If the equivalent auto built with American steel and union labor cost $35,000, yours will not cost much less. That labor cost saving will be a productivity gain that goes to the profit line. Believe me, guys like Romney know how to siphon those profit gains for themselves very well. That’s the Wall Street economy in operation. You and I have to deal with our not so lucrative Main Street economy, along with millions of other American consumers.
On the contrary, the coal industry is in trouble because of the greedy union bosses who established retirement pensions without funding, driving prices out of the international market. Free markets NEVER kill an industry, they only ALLOW poor business models to fail!
Oh sorry, Excellent post, Barb.
Ref: “The general welfare, not yours, not mine, a healthy country, not broke.” First, the US is not broke. Far from it! You refuse to face the fact that investors all over the world continue to store cash by investing in American bonds at a record low of 1.37%. If the US is broke, as the radical right claims, interest on treasuries would be over 7%. GENERAL WEFARE: The next time your affected by a contagious virus, devastating flood or hurricane, loss of savings from your Bankrupt bank, disabled, fired from you job, callapsed bridge to your customers/office, closed schools, $150,000 hospital bill, etc., call your pastor or NRA. Does the word Altruism mean anything to Chistians these day? Why do Christians have the bias first of “they want something for nothing”. Where does that thought or attutude come from?
The next time your affected by a contagious virus, devastating flood or hurricane, loss of savings from your Bankrupt bank, disabled, fired from you job, callapsed bridge to your customers/office, closed schools, $150,000 hospital bill, etc., call your pastor … I do not attend a local church, but I have plenty of friends and family to whom I turn in emergencies. I do NOT count on the government to bail me out of ANY situation. In addition, I did serve in the Army, so I paid some “dues” into the government system.
Agree completely. It’s absolutely none of the governments business. As to altruism, doing things with looted money is not altruism, nor is it charity, the proper term is theft.
Hard2 Hear needs to grow up and take responsibilty for himself instead of depending on others.
Yes, Dave, I believe he is just trying to incite excitement here! lol Little does he know there is ALWAYS excitement here! Thanks or adding your thoughts> Always appreciated!
Always fun to throw them in, Barb.
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