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In reply to the discussion: Any ideas for ways to respond to the CEOs who fire workers as petty revenge for an Obama victory? [View all]Swede Atlanta
(3,596 posts)The coal company that announced to its employees on Friday it was laying off 150 workers (somewhere in that neighborhood) because of Obama's war on coal is using that as a smokescreen.
The reality is that coal has been hit hard. Hit hard but not by any Obama action but rather by the free market these CEOs tout is so wonderful. Fracking has enabled natural gas producers to produce much more gas. That has reduced the cost of ng and consumption of ng has increased. Now usually an increase in consumption only goes so far before demand begins to increase prices. So far that has not been the case.
Because more consumers (individuals and businesses) are using ng, demand for coal is going down. As a result the price of coal is going down.
This has nothing to do with a "war on coal" but a CEO trying to find a way to blame Obama for a decision he/she was going to have to take in the face of decreased demand for their product.
They should be looking at ways to make coal cleaner but also how to mine and produce it more cheaply so as to compete with ng.