Analysis: Why America's coal industry is not coming back [View all]
The Trump administration attempted a daring rescue of the coal country, but the pro-coal agenda is failing to jump-start a renaissance — and analysts don't see one on the horizon.
Despite trying for nearly two years to prop up coal by rolling back climate regulations, the industry remains in sharp decline — coal consumption peaked in 2007. The shale boom created a glut of cheap natural gas in America, and the costs to deploy wind and solar continue to plunge.
US coal consumption is projected to decline by nearly 4% in 2018 to the lowest level since 1979, the US Energy Information Administration said Tuesday. At year-end, appetite for coal will be a staggering 44% below 2007 levels.
t's all about an industrywide shift by power plants away from coal in favor of natural gas and solar, wind and hydro power.
"We're seeing energy Darwinism," said Matt Gray, senior analyst for utilities and power at London-based think tank Carbon Tracker. "Coal's not really in the equation anymore. It's a battle between gas and renewables."
https://www.msn.com/en-us/money/markets/analysis-why-americas-coal-industry-is-not-coming-back/ar-BBQxzDs?li=BBnbfcN
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