Good news for the coalfields
From the BHC.
- House and Senate negotiators approved a compromise energy bill Tuesday that could boost Southwest Virginia’s economy by encouraging coal usage through tax incentives promoting clean coal technology.It has taken four years for Congress to work out a comprehensive bill. It is expected to be approved in both houses later this week and also meet the approval of President Bush.U.S. Rep. Rick Boucher, D-9th, was on the conference committee that hammered out the differences between the bills. The final product would be good for the region and nation, he said.New jobs could be created locally by a higher demand for coal, he said. The region has substantial coal reserves and the nation has a 250-year supply of coal, he added."The goal I set to encourage the use of coal in a large number of new electricity generating plants that will be built in the next two decades has been reached," Boucher said.The legislation includes $3 billion in various tax incentives to encourage the use of coal and promote a new generation of clean coal technology, he said. It encourages the construction of integrated gasification combined cycle generation plants similar to the one American Electric Power wants to have on line in the next 10 years. The plants are fueled by coal that is converted to gas. Read all.
This is good news for my area! Coal demand is at a high and the jobs created are the best around. The once closed Glaymorgan Coal Co. in Wise is up and running again. In fact I will work a train there tomorrow. They have the old prep plant and are improving it. they also are saying a new state of the art train load out is in the plans! The plant is being fed by mines in Pound and other areas and a new mines is getting started within 1/4 mile of the plant. Good news indeed.