February 10, 2011
The U.S. has an aging inventory of coal-fired power plants and many units might be closed before the end of the decade, Energy Secretary Steven Chu said.
“We’re going to see massive retirements within the next five, eight years,” Chu said today at a renewable-energy conference in Washington. “Much of our fleet of coal plants is 40 to 50 years old.”
President Barack Obama said last month the U.S. should eliminate tax subsidies for fossil-fuel production worth $4 billion a year so it can boost spending on renewable energy and cars that run on alternative fuels, such as electricity.