As the US electricity generation uses less coal, the coal finds new export markets to travel to.
This is why some are now saying the only way to avoid the use of an asset, such as coal, is to buy the right to keep it in the ground - it's also why expensive energy probably cannot eliminate dirty energy, but only displace it to places that would rather have dirty energy than no energy.
On Thursday Kentucky Gov. Steve Beshear announced a 25-year, $7 billion agreement between India's Abhijeet Group and Kentucky-based Booth Energy Group and River Trading Co. that could send 9 million tons of coal a year to India from West Virginia and Kentucky. That would represent 8 percent of last year's record 107 million tons...Read the entire article at Businessweek
The Census Bureau reported last week that coal shipments set a record in June of 12.8 million tons. Through the first half of the year, shipments are 24 percent higher than a year ago. The share of U.S. electricity that comes from coal is lower than it has been since the government began collecting data in 1949. That's because electric utilities are instead burning natural gas, which earlier this year fell to a 10-year low as increasing domestic production and a historically warm winter led to a supply glut.
Coal companies were forced to close or idle mines and lay off workers, but have vowed to look abroad for new markets. The U.S. has the world's largest reserves of coal.
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