Big Coal was dealt a reality check this week after a new independent study found that Nevada will likely save money and definitely cut pollution it if goes for renewable power instead of building three coal-fired power plants.

According to the study, uncertainty over higher construction costs and the value of what could be an inevitable tax on CO2 emissions will cause the cost of coal power to skyrocket as wind, solar and geothermal power costs decrease.

Of course the study, which was conducted by ECONorthwest of Eugene, OR, has been criticized for being nothing more than a "rehash" of old studies given by a collection of environmental groups last year before the Nevada Public Utility Commission.

But that still doesn't change the fact that we're seeing estimates for carbon to be as low as $6 a ton, and as high as $20 a ton. I guess it depends who has the most to gain and lose from all of this. Either way, a price will have to be paid. And that will affect the expansion of new coal-fired power plants, as well as the competitive advantage coal supposedly has.

In fact, on Tuesday, Google announced a new initiative called "Renewable Energy Cheaper than Coal." Under this initiative, Google.org will make strategic investments and grants that demonstrate a path toward producing energy at an unsubsidized cost below that of coal-fired power plants.

Google Co-founder, Larry Page said that the goal is to produce one Gigawatt of renewable energy capacity that's cheaper than coal. And he's optimistic it can be done in years...not decades.

We agree.

But we're not the only ones.

More and more we're starting to see public opinion directly affect energy policy both here in the U.S. and abroad.

You may have read Sam Hopkins' Green Chip International article on Monday where he reported on a small town in Germany that voted to keep two new coal-fired power plants out of their backyard. And just like that, a $2.96 billion plan for the power plants was thrown out.

Whether its public opinion or just plain economics, we're now witnessing the beginning of the end for Big Coal. It may not happen overnight. But it's going to happen. And we're going to get rich in the process.

To a new way of life, and a new generation of wealth...

Jeff

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