antilib wrote: ↑
Tue Feb 13, 2018 11:56 pm
not one single sentence in the article your link goes to mentioned "cheap oil and natural gas tanked the coal industry," why are you always pulling these kind of fake news claims, nolax, lol?
Wow... so the conservative Stanford Institute for Policy Research is fake news? I suspect you didn't bother to read the article? Why do I suspect that? Simple. Not even halfway through the article, I read the following:
The fracking revolution has driven down natural gas prices, making coal less competitive in electricity production.
And not far after that we see a five paragraph discussion of natural gas and oil.
We have discussed the innovation in coal mining that has led to major increases in labor productivity in the production of coal, allowing the massive expansion of the U.S. coal market (though with fewer employees).
Another area of technological change with different implications for coal is the revolution in oil and gas extraction over the past decade or so — hydraulic fracturing (fracking) combined with precision horizontal drilling and the exploitation of unconventional gas deposits. These innovations have fundamentally altered the supply and price of natural gas in the U.S.
For several decades prior to 2008, the price of crude oil and natural gas in the U.S. have tracked each other very closely. But something unusual happened in 2009.
As the price of oil began to recover from the Great Recession, the price of gas continued to drop. In April 2012, oil was selling for $103 per barrel, while the price of gas was $11 per barrel-energy-equivalent, and coal was delivered at an average price of $13 per barrel-energy-equivalent.
Prices have fluctuated since then, but gas has continued to be plentiful and cheap. This has had two effects on coal. One is that cheap gas displaces coal in existing power systems. Secondly, cheap gas increases the incentives to finally retire old coal-fired plants from the 1940s and 1950s. Figure 5 shows the expansion of natural gas in electricity generation, in parallel with the decline of coal. The figure also shows the expansion of renewables such as wind and solar, likewise at the expense of coal.
So, I'm curious. What part of that is fake news?
— "It will be revealed in the coming months that he was in fact born in Kenya" - 17 Nov 2016zxx