NO need for rate hikes when you can manipulate the market to artificially jack up the prices.
The EIA Energy Information Administration predicts plants with 7.7 gigawatts of capacity will close by 2018. Cambridge, Massachusetts-based The Brattle Group, a consulting firm, said in December that 50 to 65 gigawatts of capacity may be closed by 2020 because of environmental regulations. Analysts at Zurich-based bank Credit Suisse Group AG said in September that about 60 gigawatts of coal capacity may be retired, reports Newsmax.Were going to see massive retirements within the next five, eight years, Chu said at a renewable-energy conference in Washington yesterday.Smaller, older units that burn coal wont be economic under new clean air standards, said Luke Popovich, a spokesman for the Washington-based National Mining Association.This means that the larger transnational energy companies with close Obama administration ties like General Electric, who have been given waivers for the EPA carbon restrictions, will see their competition eliminated and be given free reign to jack up prices even further by creating artificial scarcity.Americans will be made to foot the bill as part of Obamas publicly stated agenda to bankrupt the coal industry in the move towards a green economy, which has little to do with the environment and everything to do with hollowing out Americas industrial base so that the country may be more easily swallowed up by the post-industrial revolution that remains the goal of the global elite.