Peabody Energy Criticizes Carbon Emission Plan
ST. LOUIS (AP) - The St. Louis-based business company that touts itself as the world's largest private-sector coal company isn't too pleased about a new federal proposal to reduce carbon dioxide pollution.
The proposal by President Barack Obama's administration seeks to reduce emissions from coal-fired power plants by nearly one-third nationwide by 2030.
Peabody Energy said in a statement Monday the proposed regulation would "make energy scarce and more expensive without any material improvement in emissions."
The company says cleaner-burning coal can be cheaper than other fuel sources. Rather than limiting the use of coal, Peabody says the U.S. should invest in more efficient coal-fired power plants and research for the next generation of coal technologies.