Trump's push to save coal is failing. Coal demand to plunge to 42-year low
Source: CNN
Trump's push to save coal is failing. Coal demand to plunge to 42-year low
By Matt Egan, CNN Business
Updated 1131 GMT (1931 HKT) October 10, 2019
New York (CNN Business) — President Donald Trump's mission to revive America's coal industry is failing.
US power plants are expected to consume less coal next year than at any point since President Jimmy Carter was in office, according to government forecasts released on Tuesday.
Although Trump has tried to boost coal by slashing environmental regulations and installing a former coal lobbyist to lead the EPA, coal keeps losing ground to cleaner and cheaper alternatives. Power companies are rapidly retiring coal-fired power plants and replacing them with dirt-cheap natural gas and increasingly affordable renewable energy.
"It's just simple economics. Coal is not cost competitive," said Frank Nicklaus, a partner at Greentech Capital Advisors, a boutique investment bank focused on sustainable technology.
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Read more: https://edition.cnn.com/2019/10/10/business/coal-power-trump/index.html
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