Deck S. Slone, Arch Coal Inc.’s (NYSE:ACI) senior vice president of strategy and public policy, responded to the US Environmental Protection Agency’s announcement regarding new standards for coal-burning power plants, commenting that the proposal “goes way too far, way too fast.”
Slone also said,
We believe that coal plants with near-zero greenhouse gas emissions will be achievable in time, but such technology is simply not available today. The Administration’s proposal goes way too far, way too fast – and threatens to arrest rather than spur technology advances. With the world’s fastest growing economies continuing to build their economies on coal, it makes no sense for the United States – which possesses the world’s largest coal reserves – to erect barrier after barrier to coal use. In doing so, we are ensuring America higher power prices, lower economic growth and reduced international competitiveness – and effectively foreclosing on our ability to use this affordable, secure and reliable fuel in the future.