From The 10 Point : My Guide to the Day's Top News
Gerad Baker-Editor in Chief, WSJ
The Trump administration's commitment to coal is facing its stiffest test yet after an Ohio energy company made a plea to favor that power source over its many rivals. FirstEnergy's fleet of coal-fired and nuclear power plants filed for bankruptcy over the weekend , just days after the company asked the federal government for an emergency order that would keep many of the facilities open. The Energy Department now has to decide whether to compel the nation's biggest grid operator to cut deals that shift more of such plants' costs to consumers. President Trump has been one of coal's biggest boosters as the industry battles rising competition from such alternatives as natural gas and solar power. While a successful plea by the Ohio company could protect thousands of jobs at coal plants, it could also hurt rival energy businesses and raise electricity prices for customers in states across the Midwest and Mid-Atlantic regions. That would pose a significant risk to Mr. Trump by antagonizing his supporters among electricity users and companies in the oil-and-gas industry that have become primary suppliers to power plants.
Gerard Baker/ The Wall Street Journal /Aprl 02 2018
WSJ The 10 point was taken from the daily brief mail by the Wall Street Journal, on 03/19/ 2018. The views are not necessarily those of Petroleumworld
Petroleumworld 03 21 2018