A Texas company quit plans to build a coal-fired power plant -- blaming President Obama's environmental rules, but admitting the low price of natural gas was a key reason.
"HOUSTON -- Developers quietly ended their push last week to open a new Texas coal-fired power plant.
White Stallion Energy LLC had been planning to build a new power station in Matagorda County, south of Houston along the Gulf of Mexico, that the company promised would be the cleanest and safest coal-burning power plant ever. But the company undermined its message somewhat and angered locals by fighting U.S. EPA limits on mercury emissions.
President Obama's renewed attention on climate change and low natural gas prices persuaded White Stallion to call off the 1,200-megawatt project.
'Pronouncements by the administration -- most recently in the President's State of the Union message -- continue to indicate that additional regulatory barriers to such projects will be erected,' Chief Operating Officer Randy Bird said in a statement. 'In addition, even though the generation needs for the state of Texas continue to grow, the presently low price of natural gas has made the price of electricity from a new coal fired generator uncompetitive at this time.'"