|By PR Newswire||
|September 20, 2013 12:12 PM EDT||
ST. LOUIS, Sept. 20, 2013 /PRNewswire/ -- Arch Coal, Inc. (NYSE: ACI) issued the following statement in response to the U.S. Environmental Protection Agency's proposed New Source Performance Standards (NSPS) announced today:
"The coal-based generation industry has made tremendous progress in reducing emissions in recent years – with non-greenhouse-gas emissions per unit of coal consumed down 90 percent since 1970," said Arch Coal Senior Vice President of Strategy and Public Policy Deck S. Slone. "The newest coal plants far exceed even those reductions, and also have lower greenhouse gas emissions due to their higher efficiency levels.
"We believe that coal plants with near-zero greenhouse gas emissions will be achievable in time, but such technology is simply not available today," said Slone. "The Administration's proposal goes way too far, way too fast – and threatens to arrest rather than spur technology advances. With the world's fastest growing economies continuing to build their economies on coal, it makes no sense for the United States – which possesses the world's largest coal reserves – to erect barrier after barrier to coal use. In doing so, we are ensuring America higher power prices, lower economic growth and reduced international competitiveness – and effectively foreclosing on our ability to use this affordable, secure and reliable fuel in the future."
About Arch Coal
U.S.-based Arch Coal, Inc. is one of the world's top coal producers for the global steel and power generation industries, serving customers in 25 countries on five continents. Its network of mining complexes is the most diversified in the United States, spanning every major coal basin in the nation. For more information, visit www.archcoal.com.
Forward-Looking Statements: This press release contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties arise from changes in the demand for our coal by the domestic electric generation industry; from legislation and regulations relating to the Clean Air Act and other environmental initiatives; from operational, geological, permit, labor and weather-related factors; from fluctuations in the amount of cash we generate from operations; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. For a description of some of the risks and uncertainties that may affect our future results, you should see the risk factors described from time to time in the reports we file with the Securities and Exchange Commission.
SOURCE Arch Coal, Inc.