Cheap natural gas threatens coal industry, despite Trump's promises

  • 📰 Newsweek
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 52%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

While an average annual capacity of 5.6 GW was retired each year Obama was in office, 9.6 GW has been retired each year under Trump, Rhodium Group, an independent research firm, told Newsweek.

Murray Energy's bankruptcy filing on Tuesday underscored the continuing decline of the country's coal industry. The nation's largest privately owned coal producer became the eighth producer to file for bankruptcy since Donald Trump took office, emphasizing the contrast between the president's rhetoric about restoring jobs and his actual ability to revitalize the industry.

A half-century ago, coal supplied almost half the country's electricity, but it provided only 27.5 percent last year, according to the U.S. Energy Information Administration . The agency projected earlier this month that the proportion of U.S.

"The bankruptcy filing is based [on] the economics of coal—it is getting out-competed by inexpensive natural gas, during both administrations," Samantha Gross, a fellow in the Cross-Brookings Initiative on Energy and Climate, told"President Trump promised to bring back coal, perhaps because he believed the narrative that regulations were harming the industry. The truth is that the U.S.

The U.S. surpassed Russia as the world's largest natural gas producer in 2011, and the upward trend is continuing. U.S. natural gas demand reached a record high in August. The EIA

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Wha?Omg! So what do we do now!!!!

that's a shame

Play it again Sam.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 468. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines