The US coal industry is on deathwatch. Coal power plants are falling like dominoes and yet another coal mining titan — Murray Energy — has bitten the dust. So, what is keeping the remaining coal power plants on life support? That’s a good question. A new report from the organization Carbon Tracker hints at the answer, which can be found in the precarious position of coal power in the European Union.
The Death Of Coal: Thanks For Nothing, Natural Gas
The new coal report comes under the somewhat nuanced title, Apocalypse Now. It was produced by the Power and Utilities team at Carbon Tracker. The organization bills itself as an “independent financial think tank that carries out in-depth analysis on the impact of the energy transition on capital markets and the potential investment in high-cost, carbon-intensive fossil fuels.”
Got all that? Carbon Tracker’s basic argument is that coal is simply unable to compete in today’s energy market against low cost wind, solar, and natural gas.
The natural gas angle is especially evident here in the US, where gas has been steadily beating down coal ever since the fracking boom of the early 2000s took off.
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