Fox News only linked the story from the Washington Times:
Environmental Protection Agency regulations are snuffing out another power plant, Chase Power announced Wednesday, killing its $3 billion Corpus Christi, Texas, coal project and 3,900 prospective jobs.
"Chase Power ... has opted to suspend efforts to further permit the facility and is seeking alternative investors as part of a plan of dissolution for the parent company," Chase CEO Dave Freysinger said in a statement to the Corpus Christi Caller-Times.
Mr. Freysinger said that although financial conditions played a role in the decision, the project was the victim of an insurmountable regulatory framework erected by the EPA.Read more: http://www.washingtontimes.com/...
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The truth from the local Corpus Christi newspaper:
CORPUS CHRISTI — The promoters of the failed Las Brisas power plant project can blame the Environmental Protection Agency all they want, and they may be partly or mostly correct. But once South Texas discovered it had more cheap, retrievable, relatively clean-burning natural gas in the ground than it will need for the foreseeable future, the economic justification for squeezing electricity from inherently dirty, underwhelmingly energetic petroleum coke became unconvincing.http://www.caller.com/...
Much has changed since Las Brisas began pursuing an air permit in 2008. At the time, the economy was in the tank, people needed jobs and the news of Las Brisas' proposed $3 billion investment in the local economy was downright thrilling. The outlook for the environment, less so.
The Caller-Times Editorial Board took the position that Las Brisas would be a welcome addition to the community and the economy if it met the regulatory requirements. We maintained that stance. Las Brisas, meanwhile, apparently ran out of money trying.
No one would fund an expensive coal-fired plant in the era of $2 natural gas prices (in 2005 prices were over $10).
Furthermore - about those 3,900 jobs?
The generously best-case permanent employment outlook for Las Brisas was maybe 100 jobs.(same source)
About 1/39th that amount.
So the truth is that President Obama's EPA did not kill the plant - his energy policy friendly to natural gas extraction did!
This diary is simple representation of the blatant lying that goes in the the GOP echo chamber. It is not an endorsement of fracking.
But this is the crazy we deal with today.