WhoreMods -> RE: World's Biggest Coal Company Closes 37 Mines as Solar Prices Plummet (7/5/2017 10:37:54 AM)
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ORIGINAL: Musicmystery Death of Coal: Even Banks Are Giving Up On a Coal Recovery With investors and utilities giving up on coal, there's little hope for a recovery. Five years ago, coal provided nearly half of all the electricity consumed in the U.S. Oh, how the mighty have fallen. Today, the coal industry is rapidly going out of business. Coal plants are being shut down, miners are going out of business, and even import countries like China and India are turning their backs on coal. How did we get here and is a recovery ever going to take place? The answer may surprise you. The coal conundrum Renewable energy gets a lot of credit for the decline of coal. But if you want to know the real reason coal companies are struggling, you don't have to look further than natural gas. You can see in the chart below that natural gas generated about half the electricity coal did as recently as five years ago, but today natural gas is the No. 1 electricity source in the U.S. https://www.fool.com/investing/2016/07/28/death-of-coal-even-banks-are-giving-up-on-a-coal-r.aspx Are you building over the heads of closed down pits over there as well? Supposedly Brown looked into re-opening a few of the closed mines here at one pont, but they've mostly had sink estates built over the former workings in the last thirty years, so he gave up on that.
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