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Seems that coal industry can't make it -- even with the President backing it. Tax cuts won't help with those that don't have jobs. Will this impact the midterms?
Donald Trump vowed to revive the coal industry but figures show its future is as bleak as ever
Long-term growth and hiring prospects remain weak despite administration's policy changes to make energy sector more competitive at expense of environmental concerns
Because most folks, including the coal industry, knows coal is dying. The railroads have been trying to find business elsewhere because they know coal is by and large a dying commodity. Both CSX and NS have closed lines in the past few years where coal was the only customer. When I moved to Columbia, SC in 2006, both railroads there had multiple coal trains coming through town. Most of that traffic has now dried up as many power plants those trains supplied have either shut down or transitioned to natural gas.
Seems that coal industry can't make it -- even with the President backing it. Tax cuts won't help with those that don't have jobs. Will this impact the midterms?
Donald Trump vowed to revive the coal industry but figures show its future is as bleak as ever Long-term growth and hiring prospects remain weak despite administration's policy changes to make energy sector more competitive at expense of environmental concerns
I believe there will be spikes and valleys with coal. but I do not believe it is coming back. It's like celebrating because a presidents approval rating has jumped whatever percentage you want to say when it was really low to start with. Not naming names
From the article you linked
Quote:
The long answer to the first, energy analysts say, is that economic factors at home and abroad — and all largely beyond Trump's control — play a bigger role in explaining that year-over-year increase than the changing of the presidential guard. Potentially to the president's surprise, China even helped out a bit with the increase.
"This is not due to any 'Trump bump,' " Zindler said. "Longer term, move away from coal will continue, recent policy pronouncements notwithstanding."
The long-term trends are hard to deny. Total coal mining capacity has shrunk from 1.37 million tons in 2008 to 1.16 million tons in 2015, according to EIA. More dramatically, coal power plants have shuttered at a rapid rate.
It just seems like you should have read the whole article you shared.
Quote:
As one recent study from the Center on Global Energy Policy at Columbia concluded, "Trump’s efforts to roll back environmental regulations will not materially improve economic conditions in America’s coal communities."
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