26878 members

The Trump Admin. Failed In Its Attempt To Bailout Big Coal

Screengrab / NBC / YouTube

Sec. of Energy Rick Perry attempted to bailout the coal and nuclear industries with a surcharge for consumers.

Sec. of Energy Rick Perry attempted and failed to bail out the coal and nuclear industries with a $10.6 billion surcharge for consumers. The Federal Energy Regulation Committee, a group of regulators comprised mostly of Trump appointees, rejected Perry's request to prop-up these industries.

The committee said in a statement that it might revisit the issue at a later date, handing a loss to Energy Secretary Rick Perry, who had proposed a new mandate in September that would pay the operators of power plants to meet a new federal requirement to always have 90 days’ worth of coal on-site. The $10.6-billion cost of buying all that fuel would be passed on to consumers via surcharges on their monthly energy bills.

Robert Murray, CEO of Murray Energy, decried the announcement. He publicly called on the Trump administration to fire the regulators who made this decision.

“I believe that the Trump administration, with the exception of Neil Chatterjee, picked three bad appointees for FERC. And they should all be fired."