Quantcast

Trump Administration Plans Costly Taxpayer Bailout of Unprofitable Energy Industries

Energy

The Trump administration is planning to bail out unprofitable coal and nuclear plants by mandating grid operators buy electricity from them in the name of national security, Bloomberg reported late Thursday.


A draft Department of Energy memo circulated before a National Security Council meeting Friday proposes invoking rarely-used emergency authorities under the Defense Production Act and Federal Power Act to force grid operators to purchase power from struggling plants. Per the memo, the move is meant as a "stop-gap measure" while the administration conducts a two-year study on "grid security challenges" facing the country.

The proposal is the latest overture by the Trump administration as it struggles to make good on a campaign promise to help the coal and nuclear industry—as well as some of the president's biggest donors.

As reported by Bloomberg:

"While administration officials are still deciding on their final strategy—and may yet decide against aggressive action—the memo represents the Energy Department's latest, most fully developed plan to intervene on behalf of coal and nuclear power plants, pitched to the president's top security advisers.

...

Opponents of the new plan contend bailouts are a solution in search of a problem. They argue there are many ways to back up the grid that won't cost ratepayers billions of dollars. A coalition of natural gas and renewable power advocates told [Energy Secretary Rick] Perry that 'power plant retirements are a normal, healthy feature of electricity markets,' and therefore there is no emergency that would justify Energy Department action."

For a deeper dive:

Bloomberg

For more climate change and clean energy news, you can follow Climate Nexus on Twitter and Facebook, and sign up for daily Hot News.

Show Comments ()

EcoWatch Daily Newsletter

PhotoAlto / Laurence Mouton / Getty Images

By Ana Reisdorf, MS, RD

You've probably heard the buzz around collagen supplements and your skin by now. But is the hype really that promising? After all, research has pointed to both the benefits and downsides of collagen supplements — and for many beauty-conscious folk, collagen isn't vegan.

Read More Show Less
Pixabay

By Marlene Cimons

Neil Pederson's introduction to tree rings came from a "sweet and kindly" college instructor, who nevertheless was "one of the most boring professors I'd ever experienced," Pederson said. "I swore tree rings off then and there." But they kept coming back to haunt him.

Read More Show Less
Sponsored
Aerial view of the explosion site of a chemical factory on March 22 in Yancheng, Jiangsu Province of China. Caixin Media / VCG / Getty Images)

At least 47 people have died in an explosion at a plant in Yancheng, China Thursday run by a chemical company with a history of environmental violations, Sky News reported.

Read More Show Less
A fishmonger in Elmina, a fishing port in the Central Region of Ghana. Environmental Justice Foundation

By Daisy Brickhill

Each morning, men living in fishing communities along Ghana's coastline push off in search of the day's catch. But when the boats come back to shore, it's the women who take over.

Read More Show Less
Pexels

By Sam Nickerson

Links between excess sugar in your diet and disease have been well-documented, but new research by Harvard's School of Public Health might make you even more wary of that next soda: it could increase your risk of an early death.

The study, published this week in the American Heart Association's journal Circulation, found that drinking one or two sugar-sweetened beverages (SSBs) each day — like sodas or sports drinks — increases risk of an early death by 14 percent.

Read More Show Less
Sponsored
Krystal B / Flickr

Tyson Foods is recalling approximately 69,093 pounds of frozen chicken strips because they may have been contaminated with pieces of metal, the U.S. Department of Agriculture (USDA) Food Safety and Inspection Service (FSIS) announced Thursday.

The affected products were fully-cooked "Buffalo Style" and "Crispy" chicken strips with a "use by" date of Nov. 30, 2019 and an establishment number of "P-7221" on the back of the package.

"FSIS is concerned that some product may be in consumers' freezers," the recall notice said. "Consumers who have purchased these products are urged not to consume them. These products should be thrown away or returned to the place of purchase."

Read More Show Less
Pixabay

By Hrefna Palsdottir, MS

Cold cereals are an easy, convenient food.

Read More Show Less
A tractor spraying a field with pesticides in Orem, Utah. Aqua Mechanical / CC BY 2.0

Environmental exposure to pesticides, both before birth and during the first year of life, has been linked to an increased risk of developing autism spectrum disorder, according to the largest epidemiological study to date on the connection.

The study, published Wednesday in BMJ, found that pregnant women who lived within 2,000 meters (approximately 1.2 miles) of a highly-sprayed agricultural area in California had children who were 10 to 16 percent more likely to develop autism and 30 percent more likely to develop severe autism that impacted their intellectual ability. If the children were exposed to pesticides during their first year of life, the risk they would develop autism went up to 50 percent.

Read More Show Less