A Bleak Outlook for Trumps Promises to Coal Miners [View all]
Donald J. Trump made coal a centerpiece of his campaign, holding rousing rallies with miners in hard hats, who he said had been neglected under eight years of the Obama administration. The strategy paid off, helping him score crucial wins in Pennsylvania and Ohio.
Now, though, coal may prove a different sort of symbol — that is, of the challenges that the president-elect will face delivering on his many promises to restore struggling sectors of the American economy.
The United States coal industry and the jobs that support it have been in decline for decades as a result of environmental concerns, automation in mining and slowdowns in manufacturing industries that burned coal for power. And these days, no matter who is president, coal is at the mercy of market economics. Coal’s No. 1 rival is cheap, cleaner-burning natural gas — which could become an even more potent competitor under the incoming administration. The probable easing of restrictions on pipeline building and loosening of rules on gas exploration and production would mean more natural gas reaching the market.
Despite recent increases, coal’s price has been drifting downward for years. But the price of natural gas has fallen even more sharply. “I don’t think the Trump presidency will have a material impact on bringing coal miners back to work,” said Ted O’Brien, a coal analyst at Doyle Trading Consultants, a leading energy industry research firm.
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http://www.nytimes.com/2016/11/20/business/energy-environment/a-bleak-outlook-for-trumps-promises-to-coal-miners.html?emc=edit_th_20161120&nl=todaysheadlines&nlid=57435284
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