Examining the Economic Costs of the Administration’s Coal Moratorium
A moratorium has been placed on new coal leases for federal lands. This moratorium will result in job loss and economic decline as well as the devastation of a once fruitful industry. Since President Obama took office, over 180,000 coal miners have lost their jobs, this equates to over $9.7 billion in lost wages. The coal industry contributes nearly $65.7 billion to national GDP. Over 10 years, the U.S. will see a loss of over $650 billion due to harmful policies and regulations. Over the last 15 years’ federal coal leases have added over $541 billion to the U.S. economy.