Cap and Trade Would Cripple Coal Sector

" Still Lewis COO and president calls the energy. Joins us right now from Pittsburgh PA -- thank you very much for joining us. -- The -- the Teva to musical we're leading. Producer of underground coal in the United States and was leading producer of natural gas and Appalachian basin so. Going back to your your prior comments were about as old school traditional Asian -- that means you are really against that country you got an eight. Well we've got a lot of."

" Sons with regard to cap and trade and in most of those concerns go to the cost side of it. And when you look at the costs it's really a regional issue -- United States is going to be regional winners and it's going to be regional losers and regional winners are typically going to be. The California's in New York's. And the other regional losers are basically going to be the middle of the country with regard to who -- pays for this person's net benefits. When you look at the benefits side. There's also concern there because if you do think that CO2 is a problem. And that we need to regulate that. Across our activities with regard industries. He Waxman Markey bill on the nature of CO2 emissions. It's basically going to have a miniscule effect with regard CO2 levels looking out the next hundred years so going to cost issue and we're concerned about -- benefit issue. And energy is the most basic building block you find in any economy our economy is no different. And coal and natural gas being able to be -- cost producer and provide a cost of -- that's really important not just to -- energy but also to the country but."

" But that's I guess my hesitation with all this stuff about 46% of electricity produced from -- these days. And the numbers dropped 22% natural gas 20% nuclear and only 12% goes to the other other wind solar and other. So we have all this but do we have the mechanisms or will we have the mechanisms in place to make that conversion out to cold by the time. And cap and trade is supposed to take effect."

" Well you know when you look at the issue in terms of how you solve the carbon problem. Technologically look at coal and clean coal technology. Carbon capture and sequestration exists we've already commercialized and demonstrated. Across a range of industries that different links of the chain. The -- need to accomplish capturing the CO2 coming out of smokestacks. But we haven't done is we haven't commercialize that in demonstrated that on commercial scale and it power plant coal fired power plant some really all we need to do if we want. Is to invest the time invest money. To bring all those links of the chain together which -- already been commercialized. Already demonstrated. And shows that on an integrated basis -- given power plant. And this will work so technically I think we're very comfortable with the pieces which they make investment and put the focus on showing that an integrated fashion."

" Nick you are talking a little while ago about the viability of alternative. Energy sources whether it's wind or solar. What about the viability of clean coal like hear about that all the time and I really you know I don't know that it -- the clean coal in the traditional coal but is that viable and is that something you're looking at and explain the differences -- quickly if you will."

" Sure clean coal technology it's fast it's not something that might be or will be down the road it's been here for the last plus 35 years."

" And what we used to focus on in terms of the mission control for clean coal technology. With things like sulfur dioxide with acid rain nitrogen oxides and ozone and particulate. You look at a coal fired power plant today that has built a new one it is over 90% cleaner with regard all of those emissions I just mentioned relative to the one replaces."

" And that's been through the demonstration technology over the past 35 years and fifty billion dollars -- of investment. Into the out of power plant flee across the United States would change today. Is basically now adding carbon dioxide to that list -- something would want to control or reduce emissions from. And again when you look at technology we would want to apply the power plants with regard to that. That's already been demonstrated on individual links. Will we need to do now as we integrate that."

" Bring that together and given commercial power plant demonstration project and show the world that within the next ten years we can demonstrate what's already been demonstrated individually by different segment."

" But before we jump to break it's cheaper to make electricity with. Coal than any of those other sources is it not."

" Coal is the cheapest form of electricity outside of nuclear that's been proven decade after decade. Cheap electricity. Electrification improves quality of life across a range of parameters doesn't matter what country -- what region you're looking at it's one of the most important strategic advantages we've got within this country. When you look at things like Waxman or cap and trade. Need to be very careful from a policy perspective we don't undermine -- strategic advantage. And that's -- and kids at Christmas time without coal let's face it. I'm powerhouse a lump of coal is not necessarily -- and."

" Could mean yeah that's sort of like you know the the pot of gold the pod and rainbow for I am from art thanks -- we appreciate you know. Need to access CEO and president consul energy joining us in Pittsburgh are coming --"