West Virginia Blue
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The only energy source which is the greatest source that we have as far as what we’re dependent on right now is coal. It doesn't get a penny of subsidies.
Today West Virginia Democratic Party Chairman Nick Casey praised the announcement that West Virginia will receive $334 million for clean-coal power development from the federal stimulus bill. U.S. Senator Jay Rockefeller, Governor Joe Manchin, and President Obama's Energy Secretary Steven Chu announced today that the AEP coal-fired power plant at New Haven in Mason County will get funding to expand its carbon capture and sequestration project.
"This announcement highlights responsible Democratic leadership on the state and national level to further develop West Virginia's economy," Casey said. "West Virginia is showing the nation and world that through research and technology, we can be part of the solution to the nation's energy and environmental debate."
The $334 million funding is a part of the $3.5 billion in the federal stimulus bill for clean-coal technology development. An additional $417 million for advanced clean coal research was appropriated in the federal budget over the next two years.
Rockefeller, Department of Energy Secretary Steven Chu, Mike Morris, president and chief executive officer of American Electric Power and Gov. Joe Manchin conducted a telephone press conference with about 25 reporters to announce the funding for the expansion of a carbon capture and sequestration demonstration project at AEP's Mountaineer Power Plant near New Haven. AEP will match the federal funds granted through the Clean Coal Power Initiative and the American Recovery and Reinvestment Act.
"Times have changed," Rockefeller said to the limited audience of reporters participating in a conference call. "We need to reduce our carbon emissions." He added that the investment "allows West Virginia to take control of its future."
[snip]
Manchin expressed his thanks for Rockefeller's leadership in bringing the investment to a West Virginia plant. Morris praised the announcement as being "a great day" for the utility, state and nation, because of the advancement of clean coal technology and the good-paying jobs on the horizon for people of the region.
After opening the teleconference to questions, Rockefeller and Manchin both spoke to the need to bring a measure of "comfort" to coal industry leaders and their financial backers. Rockefeller said that the thing he fears most is the present level of "uncertainty," especially in response to the cap and trade or climate change bill that was passed in the House of Representatives during the summer and is now awaiting action by the Senate.
The coal industry has been pocketing subsidies since 1932. Taxpayers for Common Sense has identified numerous tax breaks and subsidies over the years to the coal industry. Our Green Scissors report released last July identified over $19 billion in potential taxpayer savings if the following coal subsidies were eliminated.
Selected Coal Subsidies - Potential Savings 2011-2015 ($) - Loan Guarantees for Coal Power Generation with CCS and Industrial Gasification with CCS and Advanced Coal Gasification - $8,000,000,000
- Clean Air Coal Program - $2,500,000,000
- Clean Coal Power Initiative - $1,800,000,000
- FutureGen - $1,073,000,000
- Credit for Investment in Clean Coal Facilities - $1,000,000,000
- Carbon Sequestration Tax Credit - $927,000,000
- Domestic Manufacturing Deduction for Hard Minerals - $856,000,000
- World Bank Capital Increase - $854,000,000
- Expansion of Amortization for Certain Pollution Control Facilities - $835,000,000
- Air Quality Enhancement Program - $500,000,000
- Percentage Depletion Allowance - $409,000,000
- Capital Gains Treatment for Royalties from Coal - $237,000,000
- Expensing of Exploration and Development - $202,000,000
- Certain Income and Gains Relating to Industrial Source Carbon Dioxide Treated as Qualifying Income for Publicly Traded Partnerships - $11,000,000
- Electron Scrubbing Demonstration Project - $5,000,000
- Build America Bonds (BAB) - $9,891,000,000
- Advanced Research Projects Agency-Energy (ARPA-E) - $400,000,000
- TOTAL (excluding ARPA-E or BAB) - $19,209,000,000
I agree with Taxpayers for Common Sense President Ryan Alexander:
"We stand ready to work with Sens. Manchin and Franken to make their subsidy free coal a reality. But before we can have an honest discussion about our energy policy and cutting spending, we all need to be using the same facts. Taxpayers spend billions supporting the coal industry every year through holes in the tax code and through loan guarantees for new coal plants. We need to stop giving tax breaks to the well-entrenched coal industry and protect taxpayer dollars."
And, really, Sen. Manchin that's rather embarrassing.
Even if you've abdicated your job of representing all West Virginians in favor of serving as a lobbyist for the coal industry, you're not doing that job well either when you blatantly lie about basic facts.
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