Picking Winners and losers, corporate welfare, etc.

I look forward to off-or-on record quotes from Republican lawmakers wishing that somebody somewhere would do something about this.

 

Yeah, it's my industry so I'm following it. I think I've posted before that this might be coming. Probably, people outside of the business can't really appreciate the scope of the intervention being contemplated here. Depending on how they do it, it could cost people billions in their electric bills, force good generators out of business to make room for the bad ones, and cause an avalanche of litigation. And for what? So that Trump can court the vote of guys who pretend they have their pickup trucks because they have honest, tough, dirty jobs like the coal miners?

The good news is that it probably won't impact people in Texas. It will, ironically, affect electricity customers in places like PA and Ohio where Trump is hoping it'll make them like him better.

 

This is what happens when you elect a populist president.

 

Well, he did it... too dirty to fail.

Trump Orders Action to Stem Coal, Nuclear Plant Shutdowns

https://www.bloomberg.com/amp/news/...t-closures-jhw8smiv?__twitter_impression=true

 

Arnold having more fun with trump...

 

Why do we need the Onion when we have...

"Impending retirements of fuel-secure power facilities are leading to a rapid depletion of a critical part of our nation’s energy mix and impacting the resilience of our power grid," White House spokeswoman Sarah Sanders said in an emailed statement Friday. Trump has directed Secretary Rick Perry "to prepare immediate steps to stop the loss of these resources and looks forward to his recommendations." Trump’s directive comes as administration officials search for ways to extend the life of money-losing coal and nuclear power plants that are at risk of closing due to competition from cheaper natural gas and renewable energy.

 

So, this is how they plan to bail out coal, through the DPA. The President is abusing his power here, yet again. Coal is vital to our national defense or offense how ??

I wonder what other military defense acts are out there that this President can abuse. Let's just keep ignoring this. It's going to be perfectly fine.

... Congress won't do there job ...
... lawsuits will happen ...

https://arstechnica.com/tech-policy...y-recommends-bail-out-of-failing-coal-plants/

https://en.wikipedia.org/wiki/Defense_Production_Act

https://www.eenews.net/stories/1060079651

In a 2001 hearing about the law's use during the crisis, then-Texas Sen. Phil Gramm (R) said, "The Defense Production Act is the most powerful and potentially dangerous American law, in my opinion."

The law was amended in 2009 to restrict its use, said Susan Tierney, a former DOE official in the Obama administration. Two provisions require the law to be limited to scenarios where a scarce material is essential to national defense or to instances where national defense requirements cannot be fulfilled without disrupting civilian markets.

"I believe this is an enormous stretch, and it would surprise me if lawyers in other administrations would find this a valid use," Tierney said. "It would not surprise me in terms of people going to the drawing board to a statute searching for a solution of where they can hang their hat on."

 

Politics makes for strange bedfellows...

 

Also in the industry. Trump is a clown.

 

Hahahaha! Arnold was made for Twitter.

 

The Twitternator app!