Market forces trump politics, and these forces have enormous momentum: Cheap natural gas is likely to remain cheap for the foreseeable future, and fast-rising renewable energy — even without subsidies — will continue to beat coal.
Electric utilities themselves, as Moody’s Investor’s Services recently noted, are realizing that they can profit by building renewable generation and adding that capacity to their rate bases, a strategic move that freezes out coal producers. Moody’s has also published investor guidance showing how the fast-growing American wind industry puts coal-fired “at risk,” and at IEEFA we have found a similar narrative in our research.
I posted facts showing you that coal is dying because of the free market, and Trump is trying to save it because the free market is nothing more than a bumper sticker slogan to him and his supporters.
Your partisan blinders are getting in the way here. I disagree with the policies of BOTH presidents. But Trump is president now, so arguing about Obama seems pointless.
“The federal government counts four new coal projects on a list of planned power plants nationwide. Three of those face long odds, and none will be able to replace the millions of tons in lost coal demand resulting from recent retirements, even as the Trump administration has vowed to revive the ailing industry.”
We’ve already been over this and you know that in fact coal mining jobs had been on the increase since about 2004 throughout most of the Obama administration until his new regulations finally began taking their toll.