Our Charts Show How Dead the Coal Industry Really Is
President Donald Trump wants to put “our miners back to work,” but unfortunately — he can’t.
It’s not because of political reasons; it’s simply because the coal industry is dying, and the jobs just aren’t there.
The once $34 billion coal industry has an “increasingly dim employment prospect,” according to the Institute for Energy Economics and Financial Analysis’s (IEEFA) 2017 U.S. Coal Outlook. IEEFA also notes that “promises to create more coal jobs will not be kept – indeed the industry will continue to cut payrolls.”
Money Morning Global Energy Strategist Dr. Kent Moors put a timeline on the death of coal for readers back on May 17, 2016, when he said that “the black rock (coal) has 12-18 months at the outside before conditions get so bad that coal (and nuclear) plants begin to closing in earnest.”
http://wallstreetexaminer.com/2017/04/charts-show-dead-coal-industry-really/
The Coal Industry Isn’t Even Certain That Donald Trump Can Save It
The Energy Information Administration, a federal agency that analyzes energy trends, recently modeled what would happen to coal if Trump repealed the Clean Power Plan. While the industry would see an initial boost, coal would eventually decline over time—not enough to bring job numbers back to levels seen in the 1980s.
A dozen hopeful miners surrounded Trump while he signed the executive order. But even Interior Secretary Ryan Zinke said of the order, "Our nation can't run on pixie dust and hope."
https://motherboard.vice.com/en_us/...-industry-agrees-on-whether-trump-can-save-it