Coal news and updates

All along the campaign trail, Donald Trump promised that he would save the U.S. coal industry by rescinding prohibitive regulations, if elected. As President-elect, Trump is reiterating his vow to lift restrictions on America’s energy production. But is it possible to revive the faltering industry?

 

Of course, the promises were made more emphatically in the heart of coal country—which encompasses heavy coal producers Pennsylvania, West Virginia, Wyoming, as well as sections of other states, including North Dakota, Ohio, Illinois, Iowa, and Missouri.

Not surprisingly, coal country largely voted for Trump, including Pennsylvania, which although considered a battleground state, voted for the Democratic candidate in the previous six elections.

 

The election of Trump instilled some hope into the coal mining industry, especially compared to the Clinton alternative.

 

That said, even if Trump were to be able to single-handedly change all the anti-coal energy rules, there are real economic factors that could hinder coal demand and prevent mining jobs from returning to the highs seen in the 1970s.

 

The first of these real factors is the fact that there is now abundant and cheap natural gas, courtesy of the U.S. shale revolution of the past decade, which is burning coal’s market share as an energy source.

 

Then, there’s the global drive toward cleaner energy, and even if the U.S. President-elect is skeptical about global warming and climate change, the fact remains that the world continues to push for cutting carbon dioxide emissions and reducing carbon footprints.

 

Next, projections for the global coal consumption for the next two decades are not rosy, mainly because China is trying to diversify its fuel mix in its fight against air pollution.

Source:OilPrice.Com