However, the EPA's new rules demand that harmless carbon dioxide be captured and sequestered by 2040 or coal plants will be shut down. Coal makes up 16% of the US electricity system. When resources are artificially removed, it creates economic havoc and massive inflation.
Days after the US EPA rules were approved, the other G7 countries, Canada, France, Germany, Italy, Japan, and the United Kingdom, agreed to end the use of coal power plants by 2035. Meanwhile, 160 other countries are keeping their coal plants and China is building 15 coal plants per day without scrubbers.

Ministers from the G7 countries agreed on Tuesday to end the use of unabated coal power plants by 2035 – but left the door open for those heavily reliant on coal to breach the deadline.

After two days of talks in Turin, Italy, they published a pledge to "phase out existing unabated coal power generation in our energy systems during the first half of 2030s" to curb the rise in global greenhouse gas emissions.

The communique marks a key climate milestone for the G7 nations – the UK, US, Canada, France, Italy, Germany and Japan – who had been unable to reach an agreement on phasing out coal after several years of talks.

Italian minister Gilberto Pichetto Fratin, who chaired the meeting, said: "It is the first time that a path and a target has been set on coal."