King Coal, it seems, is coming back. Scott Cohn reports on the projected increase in demand for coal. Even the U.S. Energy Information Administration projects that “40 percent of America’s electricity in the future, in 2030, is going to come from coal.”
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As the President moves further into his second term, he appears to be growing more willing to tackle the concerns that his supporters have over projected Climate Change over the next century. Given the makeup of the Congress it is likely that this will be through additional regulation and Executive orders. There have been a number of reports that have documented the projected costs of climate change. Some of these have been relatively modest in statement. The Copenhagen Consensus Center, for example, noted:
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EDMONTON – The campaign to phase out coal-fuelled power plants in Alberta picked up steam Thursday at a panel discussion hosted by the Canadian Association of Physicians for the Environment.
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While environmental regulations and cheap natural gas have worked together to kill off coal in the United States, coal is not dead yet. The rapidly unfolding shale gas revolution brought prices down so significantly in recent years that natural gas began to capture market share from coal in a meaningful way. In particular, coal’s share dropped from 42% in 2011 to 37% in 2012. There were even moments in time in 2012 when both fuels were making up equal percentages of the electric power sector.
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As domestic use declines, will Canadian coal find new Asian export markets?
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Abundant natural gas, cost declines for renewables, and tight regulations from the Environmental Protection Agency (EPA) are slowly killing coal-fired power plants in the U.S. This dynamic is playing out across the country, but the results will be particularly important in the Midwest, which will be ground zero for the fight over the changing electricity mix in the coming years.
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The nation’s largest public utility voted Thursday to close six coal-powered units in Alabama and replace two more in Kentucky with a new natural gas plant.
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Two years ago, Saudi Arabia started mulling the prospects of shale natural gas as it faced the possibility of running short on energy supplies. The largest oil exporter in the world said it’s now ready to replicate the shale gas success in the United States and use its own unconventional reserves to keep the lights on. The shale boom in the United States has turned the global energy market on its head. The director of the International Energy Agency said, however, coal was still the fuel of choice.
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WABAMUN — Just three years ago, travellers heading west on the Yellowhead Highway could gaze at the iconic red and white stacks looming over the Wabamun power plant near the lake.
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Coal was the fuel that fired the industrial revolutions in the U.S. and Europe.
Market share for the material has plummeted in the U.S. over the past decade, which has seen its percentage of electrical power production plummet.
Read more: http://tinyurl.com/q6qdmed