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Date: 2019-05-24 Page is: DBtxt001.php L0700-SI-ENERGY-Coal


SECTOR / INDUSTRY
ENERGY / Coal
Coal was at the core of the industrial revolution, but employment levels have been in decline since the 1920s


Coal has been an essential element for industrialization
Railways
One of the great benefits of industrialization and the modern era has been transport and mobility, and especially railway systems. This was steam powered for a very long time, and it was coal that produced the steam. Without coal and steam, the modern economy would likely never have developed.
Steamships
For the best part of a century ocean liners ... steamships ... were the way people moved around the world. This era did not end until the 1960s when jet air travel was introduced.

Strip Mining / Mountaintop Removal
The economics and business model for modern mining is capital intensive and very different from the labor intensive underground pits that were the norm in earlier days.
While this is cost effective in terms of financial impact, the degradation of the environment is often very serious.
Worse, mining companies have a bad reputation with respect to their concern over the impact their mining activities are having on the local community.

The Human Cost of Coal
Coal miners were able to earn good money extracting coal from mother nature.
There was, however, a terrible cost in terms of human health. Black lung disease was endemic among coal miners and extracted a terrible toll among mining communities.
Sadly, the social safety net for miners has been weak, both at a governmental level and from mining companies.

Abandoned Mines
Abandoned mines are a problem wherever there has been coal mining. The industry was one of the most important for upwards of a century, and a key enabler of the industrial revolution and the development of an energy intensive steam powered economy. Coal has been in decline for a long time, starting relatively slowly in the 1920s and accelerating over time. In the 1950s and 1960s there were a large number of coal mining company bankruptcies and many coal mines were abandoned.
In Pennsyvania, USA, there are nearly one-quarter million acres of dangerous abandoned mine lands. Abandoned coal mines present a variety of dangers including steep cliffs, abandoned buildings and equipment, water-filled pits, and unstable piles of waste coal and dirt.
Even though many mines were abandoned more than 50 years ago there is ongoing water pollution arising from flooded mines and the water flowing into the Susquahanna River waterhed which then flows into the Chesapeake Bay. Most of the cleanup efforts are funded by the taxpayer. The investors that got benefit from the mines during their heyday got protection from these costs when these companies went into bankruptcy and abandoned the mines.

Stranded Assets
Bloomberg Carbon Risk Valuation Tool
In the last two years, the issue of ‘stranded assets’ has started to loom larger and larger, particularly in relation to the idea that climate change policy could induce the stranding of some conventional assets. Here we introduce a first-cut tool that helps illustrate the potential impact of stranding on a company’s earnings and share price.
  • Investors are trying to understand what the valuation impacts of stranded assets could be on their holdings and whether these are material risks or not.
  • The Bloomberg Carbon Risk Valuation Tool (CRVT), available on the Bloomberg Professional service at XLTP XCO2, offers a starting point to illustrate the potential impact on earnings and share price of companies, particularly those in extractive industries, under carbon pollution constraints.
  • The tool offers five pre-built scenarios, plus the ability to adjust assumptions. The scenarios provide the ability to apply some of the ways in which stranded asset risks could manifest themselves.
'http://www.truevaluemetrics.org/DBpdfs/Energy/Bloomberg/BNEF_WP_Carbon-Risk-Valuation-Tool_131125.pdf'
http://www.truevaluemetrics.org/DBpdfs/Energy/Bloomberg/BNEF_WP_Carbon-Risk-Valuation-Tool_131125.pdf Open PDF ... BNEF_WP_Carbon-Risk-Valuation-Tool_131125

One of Trump’s attempts to save coal was just killed by his own people.

Ngataringa/Getty Images
In January 2018, the five-member Federal Energy Regulatory Commission unanimously squashed a Trump administration plan to give coal, hydroelectric, and nuclear power plants a boost. Trump had nominated four of those five commissioners.
The rejected rule was proposed by Department of Energy Secretary Rick Perry in September. It would have subsidized power plants that have enough fuel onsite to keep making electricity for 90 days. (Only coal, hydropower, and nuclear power plants would meet this standard.) The justification was that America needed to provide an incentive for generators that can reliably provide electricity in all sorts of situations.
FERC commissioners were fine with that goal — they asked electric grid operators to report back to them about their plans to keep systems resilient in the face of emergencies. But the regulators said that giving a subsidy to certain kinds of power would violate the law.
It’s a big victory for natural gas and renewable electricity, and another strike against coal, nuclear, and hydro.
Written by Nathanael Johnson Jan 8, 2018
Using government regulation to give incentive to coal
'http://grist.org/briefly/one-of-trumps-attempts-to-save-coal-was-just-killed-by-his-own-people/'
Open external link

GreenPeace-True-Cost-Coal-2008.pdf
'http://truevaluemetrics.org/DBpdfs/Initiatives/GreenPeace/GreenPeace-True-Cost-Coal-2008.pdf'
Open PDF ... GreenPeace-True-Cost-Coal-2008.pdf

There Is No Energy Crisis, There is a Crisis of Ignorance
There Is No Energy Crisis, There is a Crisis of Ignorance
Open file 1107



The text being discussed is available at


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