What Went Right in Kentucky (And How Its Coal Is Risky Business)

Posted on June 15, 2014. Filed under: Coal Mining, Commerce, LATEST NEWS |


Unlike its more fiscally-troubled siblings of Illinois and California, Kentucky successfully tightened its belt and adjusted to post-recession realities. Yet it remains at risk from President Obama’s recently-proposed coal efficiency mandates and stands on the front-line of the cost of these regulations.

Last week the bond rating agency Moody’s Investors Service, my former employer, changed its outlook on the state of Kentucky to stable from negative, a label in place since March 2011, when The Bluegrass State was downgraded a notch to Aa2 due largely to its reliance on one-time budget fixes and its sizable pension liability. A change from “negative” to “stable” doesn’t mean the rating has changed now, just that analysts have a more favorable look toward Kentucky’s financial future.

 

Source: Moody’s Investors Service

Yet Kentucky’s not out of the woods. Its unemployment rate still lags behind the national rate, and it has recovered just 65% of jobs lost during the recession, according to Moody’s analyst Lisa Heller, who warns also of the impact to Kentucky of recently-announced target from the Obama administration to cut carbon pollution from existing US power plants by 30 percent by 2030 (based on 2005 levels). Ted Gayer of Brookings Institution points out what’s concerning about the Administration’s approach to the standard is that the Environmental Protection Agency’s methodology for calculating the supposed economic benefit of this rule is a sleight of hand that undervalues the cost of compliance. Kentucky will be a state bearing a heavy brunt of compliance.

Source: Moody’s Investors Service

“As a heavy user and producer of coal-fired energy (92% of power generated in the state and 6th largest produce of coal-fired power, according to the US Energy USEG +0.5% Information Administration), Kentucky will face challenges weaning itself away from coal,” Heller writes.

Obama’s anti-coal targets have played big in the state’s U.S. Senate race, with Democratic challenger Alison Lundergan Grimes distancing herself from the president as she seeks to topple Senate Republican Leader Mitch McConnell.

Kentucky’s the perfect case study of a state emerging from vulnerabilities wrought by the Great Recession only to face headwinds from well-meaning regulators in Washington that threaten a fragile state recovery.

CONTINUE READING…

About these ads

Make a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

  • MARK CHANDLER, ATTY AT LAW

    MARK CHANDLER, ATTORNEY AT LAW markchandlerlaw.com/ call now: 502-589-6190 mark-chandler-profile LOUISVILLE AREA SERVICES
  • CIVIL RIGHTS ATTORNEY

    CIVIL RIGHTS ATTORNEY ALL AREAS OF KENTUCKY William. M Butler Jr. Attorney at Law 200 South 7th Street, Suite 504 Louisville, KY 40202 Telephone: 502-582-2020 FAX: 502-583-8007
  • My Profile!

    ShereeKrider

    ShereeKrider

    U.S. Marijuana Party - Organizer U.S. Marijuana Party Kentucky Sheree Krider, LLC I have worked with the USMjParty since 2005.

    Verified Services

    View Full Profile →

  • Interviews at Happiness Hills Farm



  • KCADP

    The Kentucky Coalition to Abolish the Death Penalty needs your contact information: Select this link to sign up

    http://kcadp.org/

    Kentucky Coalition to Abolish the Death Penalty Why abolish the death penalty in Kentucky?

    It's costly.
    It's out of step with modern thinking.
    It's risky.
    It's unfair, broken, and arbitrary.
    It's unnecessary.
    Victims' families deserve better.

  • Kentucky Hemp Coalition

    QUOTE “That's my goal as AG Commissioner to continue to build new markets for new agricultural crops and that industrial hemp is a viable option for Kentucky. We know it will grow well in this climate. Used to be the leading crop in Kentucky,” Agriculture Commissioner James Comer kentuckyhempcoalition. blogspot.com/
  • A Democracy

    "A Democracy is when two wolves

    and a sheep take a vote on what's

    for dinner. A Republic is when the

    sheep is well armed and can beg to

    differ with the vote.

    " Benjamin Franklin"

    22 years ago...
    Marijuana, in its natural form, is one of the safest therapeutically active substances known to man.
    ...
    The judge recommends that the Administrator transfer marijuana from Schedule I to
    Schedule II.

    Francis L. Young
    Administrative Law Judge
    September 6, 1988
    Docket No. 86-22
    UNITED STATES DEPARTMENT OF JUSTICE
    Drug Enforcement Administration
    33 years ago...
    "Penalties against drug use should not be more damaging to an individual than the use of the drug itself. Nowhere is this more clear than in the laws against the possession of marijuana in private for personal use."

    President Jimmy Carter
    Message to Congress
    August 2, 1977

  • Kentucky, “Dark and Dangerous Ground”

    The Dark and Bloody Ground

    The popular belief that the name Kentucky means "Dark and Bloody Ground" is apparently without foundation. Yet through the years, the image has persisted in literary and oral tradition as a description of the Kentucky country.

    One traditional explanation sites Delaware legend in which the ancient tribe of the Lenni-Lanape allied with the Iroquois to fight the Allegewi, the original inhabitants of Kentucky. In a single bloody battle the Allegewi were virtually exterminated. The land where an entire nation had been eradicated became known as the "dark and bloody ground". The violent clashes between the Iroquois and the southern Indians only helped reinforce the image.

    In his book, "Historical Sketches of Kentucky" (1874), Richard H. Collins says that a northern Indian once asked Indian fighter Joseph H. Daveiss how white men could live in land that had seen so much bloodshed. The Indian said that the ghosts of those killed in the Indian wars haunted the land making it dangerous.

    At the execution of the Treaty of Sycamore Shoals the Cherokee Cheif Dragging Canoe is said to have told Col. Richard Henderson that the lands south of the Kentucky river were "bloody ground"and would be "dark and difficult to settle". However Ruben T. Durrett said in his book, "The Centenary of Kentucky"(1892) that the phrase was used to discourage Henderson from purchasing the land.

  • Our Environment

    Toxic chemicals in our environment, such as mercury, lead, and certain manmade chemicals, have been linked to cancer, birth defects and brain impairments. Reducing or eliminating the load of these dangerous chemicals in the products we buy, the air we breathe, the food we eat and the water we drink can help reduce the toll of human disease and suffering.

    http://www.nrdc.org/health/default.asp

  • PLEASE DO NOT USE!

    PLEASE DO NOT USE SO CALLED "SYNTHETIC MARIJUANA" OR "SPICE" SOLD UNDER AN EVER INCREASING VARIETY OF NAMES! IT IS NOT MARIJUANA AT ALL AND I AM INSULTED THAT THE WORDS SYNTHETIC MARIJUANA ARE USED TO DESCRIBE THESE SUBSTANCES! "FAKE DRUGS" WOULD SUFFICE! THEY KILL! PLEASE COPY AND OPEN THE LINK BELOW TO READ ONE STORY ABOUT THESE "FAKE DRUGS"! http://www.therepublic.com/view/story/60e0b41dcfeb4c8896f89c4a7409dc99/KY--Synthetic-Drugs/ PARENTS, WATCH YOUR CHILDREN! BETTER TO OFFER THEM THE REAL THING THAN TAKE A CHANCE ON THEM GETTING A HOLD OF SUCH GOD-AWFUL SUBSTANCES! "...Officials said the powdery substance sold as bath salts mimic the effects of cocaine, ecstasy and LSD. It can be snorted, injected or mixed with drinks for food. The chemicals can cause hallucinations, paranoia, rapid heart rates, violent behavior and suicidal thoughts. Synthetic marijuana contains organic leaves coated with chemicals that provide a marijuana-like high when smoked. The product is marketed under various brands include Spice and K2. The synthetic drugs can be purchased on the Internet and in some tobacco and smoke shops, drug paraphernalia shops, gas stations and convenience stores..." OF NOTE: THESE PRODUCTS ARE MOST OFTEN USED BY THOSE WHO ARE FORCED TO SUBMIT TO "DRUG TESTIING".... THAT IS WHY THAT THEY HAVE BECOME SO POPULAR ALONG WITH THE FACT THAT THEY ARE READILY AVAILABLE FOR SALE TO MINORS - OR SOMEONE WHO WOULD PURCHASE FOR A MINOR. THIS HAS TO STOP!
  • RSS Sen. Mitch McConnell News

    • No Amendments, Closed Debate: Rand Paul's NSA Filibuster Proves Mitch ... - Breitbart News May 21, 2015
      Breitbart NewsNo Amendments, Closed Debate: Rand Paul's NSA Filibuster Proves Mitch ...Breitbart NewsIn fact, McConnell's opposition to an open amendment process—unlike Reid's tactic of filling the amendment tree, he's using different Senate procedures to produce the same closed process outcome—has sparked NumbersUSA, an anti-amnesty ...M […]
    • Mitch McConnell plays hardball on PATRIOT Act - Politico May 19, 2015
      PoliticoMitch McConnell plays hardball on PATRIOT ActPoliticoRepublican divisions on Capitol Hill over the PATRIOT Act deepened Tuesday as Senate Majority Leader Mitch McConnell privately made his case against a popular House bill that would end the National Security Agency's bulk data collection program.On NSA Spying, Mitch McConnell's Only Option […]
    • As Matt Bevin focuses on fall election, questions about Mitch McConnell, GOP ... - Lexington Herald Leader May 21, 2015
      Lexington Herald LeaderAs Matt Bevin focuses on fall election, questions about Mitch McConnell, GOP ...Lexington Herald LeaderBut Bevin, as he has since last November, blamed the media for creating a perception that he didn't support U.S. Senate Majority Leader Mitch McConnell after losing to him in the primary last year. Although Bevin repeatedly decli […]
    • Mitch McConnell's 2014 Challenger Fights Kentucky Governor Primary to a ... - Bloomberg May 20, 2015
      BloombergMitch McConnell's 2014 Challenger Fights Kentucky Governor Primary to a ...BloombergSenate Majority Leader Mitch McConnell defeated Bevin in a 2014 primary. Senator Rand Paul, who announced his presidential bid in the same hotel where Bevin hoped to be accepting the nomination, is hoping for a Republican governor to take office in ...Mitch McCo […]
    • 'This Week' Transcript: Senate Majority Leader Mitch McConnell - ABC News May 17, 2015
      ABC News'This Week' Transcript: Senate Majority Leader Mitch McConnellABC NewsSenators Mitch McConnell and Diane Feinstein are weighing in. From ABC News, This Week with George Stephanopoulos begins now. GEORGE STEPHANOPOULOS, HOST: And we have lots to get to this morning. New developments in that Amtrak crash.Is the Stephanopoulos controversy like […]
  • RSS Ron Paul News

    • Ron Paul Ads Warn of Financial Crisis - Wall Street Journal May 21, 2015
      Wall Street JournalRon Paul Ads Warn of Financial CrisisWall Street JournalFormer Rep. Ron Paul is warning in television commercials of a calamitous U.S. financial crisis that could bring civil unrest and a stock market collapse—a crash “infinitely worse than the crisis of 2008.'' He urges viewers to prepare by buying a ...Ron Paul's celebrity […]
    • Ron Paul On The Public Debt And The Collapse Of The Dollar - Forbes May 21, 2015
      Ron Paul On The Public Debt And The Collapse Of The DollarForbesOver the past few years, many experts have been warning of a crisis heading our way. More specifically, the concerns have centered on the inevitable collapse of the U.S. dollar. One of these individuals is former Congressman Ron Paul, who has stated ...
    • After Over 10 Hours, Rand Paul Ends His NSA 'Filibuster' - National Journal May 21, 2015
      National JournalAfter Over 10 Hours, Rand Paul Ends His NSA 'Filibuster'National Journal9:48 p.m.: Ron Paul is standing with his son. The Campaign for Liberty, the organization led by former Rep. Ron Paul, tweeted out a picture of Paul and his wife standing by a TV tuned to C-SPAN 2. "C4L Chairman @RonPaul and his wife Carol stand with ...WATC […]
    • ​Military spending bill 'guarantees' more US conflicts, forbids war debate ... - RT May 18, 2015
      RT​Military spending bill 'guarantees' more US conflicts, forbids war debate ...RTThe Republican-led House of Representatives used “trickery” when it passed the military spending bill, slipping in $89 billion for an emergency war fund while leaving out an amendment allowing for a debate on war, former Texas Congressman Ron Paul ...New Military Spen […]
    • Why Bernie Sanders is the Democratic Ron Paul — and why he isn't - Washington Post (blog) May 1, 2015
      Why Bernie Sanders is the Democratic Ron Paul — and why he isn'tWashington Post (blog)A former third-party candidate announced his long-shot presidential bid for a major party nomination and, despite trailing in the polls and not having the support of the party establishment, his supporters are hopeful that his candidacy will change the ...and more » […]
  • RSS Kentucky.Gov Press Releases

    • An error has occurred; the feed is probably down. Try again later.
  • RSS Kentucky.Gov News

  • RSS Kentucky.gov/hemp

    • billseye May 17, 2015
      … hemp and a field of marijuana. … to grow industrial hemp, banned by federal law because it is related to marijuana. … pros and cons of hemp production.http://blogs.ket.org/billseye/?feed=rss2&p=2409
    • billseye May 17, 2015
      Quiz Answers and Hemp vs. the Heat http://blogs.ket.org/billseye/?p=3947 Bill Goodman's Blog Sun … http://blogs.ket.org/billseye/?feed=rss2&p=3947 - 1KB
    • Microsoft Word - 2. KSU Regional Grant Proposal.doc May 16, 2015
      Produce, hemp, tobacco, meat and other products from the area were shipped to http://cpe.ky.gov/nr/rdonlyres/19613de8-2f60-410a-9c24-599dd6863ba2/0/ksuregionalgrantproposalandstrategicplan.pdf - 1MB
    • AgendaItemD2legwrapup.PDF May 16, 2015
      Agenda Item D-2 LEGISLATIVE WRAP-UP May 22, 2000 In addition to the biennial budget (discussed in Agenda Item G-3), several important pieces of legislation were passed in the last few days of the session. … http://cpe.ky.gov/nr/rdonlyres/58e375da-9ead-420f-aa48-dfd58a523d21/0/agendad_2.pdf - 43KB
    • CHE ( ) PC ( ) May 16, 2015
      Hemp can be grown; research Agriculture http://cpe.ky.gov/nr/rdonlyres/0f27c10e-9610-4d83-8fb4-dff5fbeddf16/0/agenda_d1legup.pdf - 19KB
  • RSS Law Enforcement, Narcotics, Anti-corruption

  • RSS KENTUCKY SIERRA CLUB

    • Part-Time, Contracted Job Opening: Field Organizer, KY Sierra Club May 13, 2015
      Our Cumberland Chapter of the Sierra Club (aka the Kentucky Chapter), is looking for a part-time organizer to support our work on Mountaintop Removal in Eastern Kentucky. The position is available on a contract basis, and is grant-dependent. The contractor … Continue reading →
    • Job Opening: KY and IN – FT Sierra Club Beyond Coal Senior Campaign Rep May 12, 2015
      Sierra Club’s ground-breaking Beyond Coal Campaign is seeking a Senior Campaign Representative to work in southern Indiana and western Kentucky with a talented team to phase out aging coal plants and replace them with clean, renewable energy. The Beyond Coal Campaign … Continue reading →
    • 2015 KY General Assembly Wrap-Up March 23, 2015
      Weather and Short Session Challenge 2015 Kentucky General Assembly by Ruth Bamberger, Legislative Committee ChairCumberland Chapter, Sierra Club This year should go down as one of the most unproductive sessions of the KY General Assembly, and nature ironically had a … Continue reading →
    • ALERT HB229 Hearing Cancelled March 5, 2015
      ALERT: DUE TO WEATHER – THIS MARCH 5TH HEARING IS CANCELLED – POSTPONED The Clean Energy Opportunity Act, HB229 (see below for details on this bill), was scheduled to receive a hearing today (March 5, 2015), but due to inclement … Continue reading →
    • KY Clean Energy Opportunity Act – Help Us Get It Passed March 3, 2015
      ACTION ALERT: The Clean Energy Opportunity Act, HB229 (see below for details on this bill), is receiving a hearing this Thursday (March 5, 2015). We need your help to get this legislation passed.  Please: Call Your Representative Call the KY … Continue reading →
  • RSS Committee to Protect Journalists – Alerts

    • Brazilian blogger found decapitated in Minas Gerais state May 20, 2015
      New York, May 20, 2015--Brazilian authorities must fully investigate the murder of a Brazilian blogger, identify the motive, and bring the killers to justice, the Committee to Protect Journalists said today. The decapitated body of Evany José Metzker was found on Monday in the southeastern state of Minas Gerais, according to news reports.
    • In Egypt, editor accused of publishing false news May 19, 2015
      Washington, D.C. May 19, 2015--Egyptian authorities today released on bail the editor-in-chief of the privately owned weekly El-Bayan after arresting the journalist on Monday and accusing him of publishing false news, according to news reports.
    • Burkina Faso suspends live political broadcasts by media May 19, 2015
      Abuja, Nigeria, May 19, 2015--The Committee to Protect Journalists calls on Burkina Faso authorities to lift its suspension of live political broadcasts in the country. The three-month ban comes as Burkina Faso prepares to hold elections in October.
    • Qatar detains international journalists for the second time this year May 18, 2015
      New York, May 18, 2015--For the second time in two months, an international news crew was arrested and interrogated by Qatari security officials while they were reporting on the human rights situation in Qatar in the run-up to the 2022 World Cup, according to news reports. The Committee to Protect Journalists condemns the detention and calls on the Qatari go […]
    • Venezuelan court bars media executives from leaving country May 15, 2015
      Bogotá, May 15, 2015--The Committee to Protect Journalists condemns a decision by a Venezuelan judge that prohibits 22 news executives from three independent media outlets from leaving the country due to a defamation lawsuit filed by one of Venezuela's most powerful politicians. According to news reports, the lawsuit and travel ban came after three outl […]
  • RSS Voices of the Civil War, a Library of Congress blog

  • RSS Corporate Cannabis

Liked it here?
Why not try sites on the blogroll...

Follow

Get every new post delivered to your Inbox.

Join 19,182 other followers

%d bloggers like this: