Douglas Carey
Evan Schatz
Matt McVicker
Energy Markets
3/25/2017
Can the Coal Industry be Saved
Introduction
The coal industry has shaped our world for over 200 years. Its need is based on the cheap price of energy that it provides to its consumer. Today, coal is still cheap in price and a reliable product for its consumers, but it provides harmful CO2 emissions to our planet and can be expensive to build new plants. Still the coal industry is something that will never go away. It will continue to decline as renewables and other energy resources come into play for specific developed nations, but will never be taken completely from these economies and younger nations.
Coal Background The coal industry has provided energy to the world
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Most countries focus on surface mining because it allows for easy access to coal and it is more cost effective. It is providing cheap energy for countries like China, India, and other growing economies, especially third world nations. This will access to cheap fuel is a strong catalysts for these countries to emerge as first world nations (U.S Department of Energy 1). Even the UN who is working to decrease the global emissions of the planet is still open to allowing third world countries to take the opportunity to use coal and other fossil fuels. Since there are so many emerging and 3rd world countries, the likelihood is that coal may decrease in some areas, but have new markets to enter and be used in. Even with renewables, solar and wind, hitting record lows in expenses is still no match for coal plants in the long run. Especially since there is a strong need for coal to continue as the base load in these emerging economies. Due to this momentum, we see a strong movement in the coal industry as it continues to progress.
Industry Outlook
Since the coal industry has been facing weakening demand from major importers and users, combined with a surplus of coal, the coal industry is struggling to stay competitive. In recent years there has been a surplus of coal as supply outpaced demand (Cosgrove 1). In 2017 and beyond, much of the future of coal is dependant on demand from the seaborne region which consists of
We want instant gratification and coal fits the bill. I noted in my book review of Crude World that Peter Maass didn’t present a balanced picture of the oil industry; it was all bad. He was intended to highlight the negative aspect of our oil dependency. Big Coal is the same in that respect. It is hard to argue that coal hasn’t improved the lives of a great many people around the world, and we know a number of people who would argue that these improvements outweigh the negatives. Further, it is fair to say that the coal industry has come a long way in cleaning up their emission profile over the past few
Jason Hayes, communications director for the American Coal Council says “the industry over the past few decades had invested over $100 billion in cleaning up emissions and it’s already been effective. All of the important noxious pollutants have decreased markedly over the last 30 to 40 years. We’ve been doing all of this on top of dealing with everything else.” Coal may not be green, but it is a source of energy American needs. It is cheap and efficient. Without coal, America wouldn’t be anywhere near where it is today. The coal mined here isn’t just used for energy. America’s
The production of coal energy produces the most amount of carbon dioxide than any other method. It is a non-renewable energy source, and coal mines destroy most of the surrounding areas around it. With the recession going on, no one is buying into coal power plants at the moment which is an economy issue. (Center for Energy)
In 2008 coal had a peak production. In 2016 coal was responsible for 15% of the United States energy consumption. That was a decrease from previous years. The amount of coal being produced now is the same amount as it was in 1977. Coal has been decreasing for the past few years because
Coal power is the cheapest fuel to power the ever growing population with Australian mining industry still putting in billions of dollars into a vast amount of coal projects never the less coal power is a fossil fuel, a fuel which takes hundreds of year to form so the future of coal is undetermined. Coal is a reliable power source but one of the many concern with coal is the mining process used to remove it from the ground. Ecological effects are developing worries for the industry, with the carbon emissions possibly contributing to global warming.
Coal has been around for 250 million years, but only has been used since the 1800’s first by trains and now for energy all around the world and many other things that people couldn't think of! Coal is a combustible sedimentary organic rock which is composed of carbon, hydrogen, and oxygen. It is formed from vegetation which has been consolidated between two other rock strata and altered by the combined effects of pressure and heat over millions of years to form coal seams. There are over 174,000 jobs in the U.S associated with coal and 83,000 of them are mining jobs, Coal miners have found many ways to extract coal from the ground which includes, surface mining, longwall mining, room and pillar mining, and underground mining. “Surface
For that reason, I believe coal is dead for good. The biggest clue we have is that the states that rely on coal heavily are now in debt. For many states, they look at the national debt, yet we are in a crisis of our own. This is evident by our recent 300+ million dollar budget cut. Even with plans such as the rainy day funds
The industrial revolution impacted the coal industry in many good and bad way’s. before the industrial revolution workers in the coal mines (could include women and children) had it very hard, they had to work mining seams of coal in crevasses only 75cm tall. They didn’t really have and easy way of transporting coal to the surface so children were expected to carry 150kg of coal to the surface and do this a lot of times during a day. What also mad mining coal harder was that ground water from rain would flood the shafts and make the coal mining a lot harder, every year there was a lot of people that drowned from too much water in the shafts. Another danger was that a gas called fire damp which was highly explosive would be ignited off a spark
The current administration wishes to bring coal mining jobs “back” but it is found that these jobs do not exist any longer with recent advancements (Ingraham 2017) . President Trump has rolled back on environmental protections put in place by the Obama administration but they fail to see a future in cheaper and safer sources of energy that can provide numerous jobs to the market with no danger of running out of a product to sell.
I think that coal mining should continue. Coal mining can be a dangerous job, but that doesn't mean we should stop using . If we stop using coal we would have to find something else to use for electricity. Speaking of electricity we wouldn't have that much if we stop using coal.
This is entirely true, but where there is a demand, there is a supplier which means if all of the known coal runs out, that people will try to find the rest of it while the rest replenishes itself. Coal is a thing that drives the turbines to gives at least millions of Americans jobs and electricity every single day, why would we hurt
Throughout the century British coal had become increasingly costly and difficult to mine. Nationalization in 1948 had not altered this. Indeed, there was a case for saying that lack of government investment since that date had added to the problem. For some time Britain had been importing coal from abroad. With the exception of few pits producing particular types of coal, British mines by the 1970s were running at loss.
Coal is the most abundant domestically produced conventional fuel source in the United States. In 2012, 2,026,798,000 pounds (1,013,399 thousand short tons) of coal were produced and (890,483 thousand short tons) were consumed in the United States alone (EIA, 2013a). Historically it has been mined for use in heating and supplying electricity across the nation. Considering the U.S. has the largest worldwide coal reserves, it provides a stable source of
Coal mining is a huge industry and it happens almost everywhere in the world. But then there are ten top coal producers in the world which produces most of the worlds coal. China is by far the worlds largest coal producer, producing 3700 MT annually. USA is the second top coal producer at 916 MT annually. India is the third largest coal producer producing 668 MT annually. Australia is situated at number 4 producing 491MT annually. And Indonesia at fifth place producing 471MT annually.
In terms of external factors, coal resource depletion and environment contamination are the main reasons for industrial transformation. Specifically, coal, oil and natural gas are non-renewable resources in the world. Even if China is abundant in coal resource, due to much exploiting of coal, it has declined sharply. The production of coal resource cannot meet the demand for coal in the development of industrialization. Until now, China has become the world’s largest coal importer. By the year of 2012, China imported 289 million tonnes. Oppositely, Japan, as the second largest coal importer, had 184 million tonnes imported coal. In the UK, the number of imported coal was 45 million tonnes in the same year.