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Keyword: coal

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  • Larry Fink Defends BlackRock’s New Emphasis on Climate Change. What Investors Need to Know.

    01/17/2020 6:50:05 PM PST · by Libloather · 15 replies
    Barron's ^ | 1/17/20 | Leslie P. Norton
    Larry Fink’s recent letters to CEOs and investors were certain to press buttons, because they dealt with BlackRock’s plans to address climate change. Yet the reactions, Fink tells Barron’s, have been positive even as climate change has become a political football. “I received one of the great letters of my career from a client in a red state,” says the CEO of BlackRock (ticker: BLK). “This client was very thankful. This client said, ‘We have a 10- to 20-year investment horizon. We now need to look at how we think about investing.’ ” BlackRock puts climate-risk analysis at the heart...
  • How Hard Is It to Quit Coal? For Germany, 18 Years and $44 Billion

    01/17/2020 6:42:02 AM PST · by karpov · 18 replies
    New York Times ^ | January 16, 2020 | Somini Sengupta and Melissa Eddy
    Germany announced on Thursday that it would spend $44.5 billion to quit coal — but not for another 18 years, by 2038. The move shows how expensive it is to stop burning the world’s dirtiest fossil fuel, despite a broad consensus that keeping coal in the ground is vital to averting a climate crisis, and how politically complicated it is. Coal, when burned, produces huge amounts of the greenhouse gas emissions that are responsible for global warming. Germany doesn’t have shale gas, as the United States does, which has led to the rapid decline of coal use in America, despite...
  • U.S. coal-fired power plants closing fast despite Trump's pledge of support for industry

    01/13/2020 1:15:29 PM PST · by yesthatjallen · 77 replies
    Reuters ^ | 01 13 2020 | Scott DiSavino
    U.S. coal-fired power plants shut down at the second-fastest pace on record in 2019, despite President Donald Trump’s efforts to prop up the industry, according to data from the federal government and Thomson Reuters. Power companies retired or converted roughly 15,100 megawatts (MW) of coal-fired electricity generation, enough to power about 15 million homes, according to the data, which included preliminary statistics from the Energy Information Administration and Reuters reporting. That was second only to the record 19,300 MW shut in 2015 during President Barack Obama’s administration. The replacement of coal with power generation from natural gas and renewables has...
  • Tri-State to close Escalante coal plant (Good New Mexico jobs gone...)

    01/09/2020 3:55:08 PM PST · by CedarDave · 33 replies
    The Albuquerque Journal ^ | January 9, 2020 | Kevin Robinson-Avila
    ALBUQUERQUE, N.M. — Tri-State Generation and Transmission Association announced Thursday that it will shut down its 253 megawatt coal-fired generating station near Grants by the end of 2020 as part of the wholesale electric supplier’s efforts to transition to a clean energy grid over the next decade. The closure will eliminate 107 jobs at the plant, and potentially scores more at a nearby coal mine that supplies fuel for the generating station. Escalante was built to operate through 2045, but Tri-State is closing it 25 years early as part of a broad plan to eliminate all of the association’s coal-fired...
  • Climate of Investment Fear: Insurers and banks bow to progressives and divest from fossil fuels.

    01/07/2020 6:27:17 PM PST · by karpov · 22 replies
    Wall Street Journal ^ | January 6, 2020
    Climate crusaders are failing to persuade voters to limit fossil fuels, but they’re turning to coercion by other means. They’re having some success with U.S. banks and insurers that are caving to pressure to divest from carbon energy. The Hartford insurance group last month announced it will no longer insure or invest in companies that generate more than 25% of their revenues from coal mining or more than 25% of their energy from coal. It will also black-list companies that generate more than a quarter of their revenues from drilling in Canada’s Alberta oil sands. “As an insurer and asset...
  • Please Stop Telling Miners To Learn To Code

    01/01/2020 5:58:57 PM PST · by conservative98 · 47 replies
    Intelligencer ^ | 12/31/19 | Sarah Jones
    God only knows where Biden got the idea that coal mining consists of throwing the stuff into a furnace. That’s not how it works, but I digress. Biden’s recommendation is stale stuff. It’s the kind of rhetoric that will only sway voters whose ideal president is a machine that spits out a white paper from 1998 every time someone pushes a button. Re-training programs for workers in precarious industries have been with us for a long time.So has a specific fixation on the tech industry, as though it’s a cure-all for rural poverty. But 1998 was a long time ago....
  • Saagar Enjeti: Biden's Hillary 2.0 moment shows why he will lose

    12/31/2019 4:23:00 PM PST · by conservative98 · 15 replies
    The Hill on Youtube ^ | Dec 31, 2019 | Saagar Enjeti
    Saagar Enjeti argues why Joe Biden is still falling into the same trap Hillary Clinton fell into during the 2016 election.
  • Sheridan woman named one of Forbes ’30 Under 30’ [ Colorado and Wyoming ]

    12/30/2019 9:31:15 AM PST · by george76 · 22 replies
    The Sheridan Press ^ | Dec 14, 2019 | Allayana Darrow
    Whitney Wickes, who recently moved her Rocking WW Minerals company from Colorado to Sheridan, has been named one of Forbes Magazine's list of top "30 Under 30" entrepreneurs. There is a “healthy” number of people focused on renewable energy in the U.S., but few who are dedicated to improving sustainability on the fossil fuel side, Whitney Wickes said. Wickes, Rocking WW Minerals co-founder and recent Sheridan transplant, was named to Forbes 30 under 30 top entrepreneurs for 2020 in the energy sector this month. Wickes was contacted as one of 20,000 nominees throughout 16 industries in October and asked to...
  • The decade that blew up energy predictions

    12/25/2019 10:24:01 AM PST · by cutty · 18 replies
    Axios ^ | Dec 23, 2019 | Amy Harder, Andrew Witherspoon
    America’s energy sources, like booming oil and crumbling coal, have defied projections and historical precedents over the last decade. ... unexpectedly, ... In 2010, the U.S. Energy Information Administration projected that in 2019, the U.S. would be producing about six million barrels of oil a day. The reality? We're now producing 12 million barrels of oil a day. Meanwhile, EIA projected oil prices would be more than $100 a barrel. They're currently hovering around $60 a barrel. What’s happening: A pair of extraction methods — horizontal drilling and hydraulic fracturing — have unlocked far more oil and gas than experts...
  • In Tougher Times, China Falls Back on Coal. As worries mount over a slowing economy and energy security, coal use has climbed despite Beijing’s claims to be leading climate-change fight

    12/23/2019 4:22:06 PM PST · by karpov · 18 replies
    Wall Street Journal ^ | December 23, 2019 | Stephanie Yang
    China’s efforts to wean itself off coal are losing steam, as the world’s biggest carbon emitter is putting economic growth and energy security above its ambitions to be a leader in combating climate change. Coal consumption is back near peak levels after rebounding over the past three years, despite China’s pledges to make steep cuts in what is the country’s most prevalent and polluting source of energy. The country is building more coal-fired plant capacity than the rest of the world combined. Infrastructure stimulus measures to offset the impact of the prolonged trade war with the U.S. have boosted consumption,...
  • Converting coal plants to biomass could fuel climate crisis, scientists warn

    12/22/2019 12:19:40 AM PST · by blueplum · 34 replies
    The Guardian UK ^ | 16 Dec 2019 | Jillian Ambrose
    Experts horrified at large-scale forest removal to meet wood pellet demand Plans to shift Europe’s coal plants to burning wood pellets instead could accelerate rather than combat the climate crisis and lay waste to woodland equal to half the size of Germany’s Black Forest a year, according to campaigners...(snip) ...Alex Mason, from WWF’s EU office, said burning forests was “literally the opposite of what we should be doing” to help tackle the climate crisis. “As 800 scientists pointed out last year, converting coal plants to biomass will increase emissions for decades, if not centuries. "
  • Hartford to stop insuring companies generating more than 25% of revenue from coal

    12/20/2019 11:48:11 AM PST · by Leaning Right · 41 replies
    MarketWatch ^ | Dec. 20, 2019 | Tomi Kilgore
    Hartford Financial Services Group Inc. said Friday that it will no longer insure or invest in companies that generate more than 25% of their revenue from thermal coal mining, or more than 25% of their energy production from coal. *snip* "The world needs affordable, accessible energy to support global economic progress and, at the same time, action is needed to mitigate the impact such activity has on our climate," said Chief Executive Christopher Swift.

    12/19/2019 10:44:06 AM PST · by DFG · 19 replies
    Powerline ^ | 12/19/2019 | JOHN HINDERAKER
    In western Massachusetts, a group of a dozen or so climate activists tried to stop a trainload of coal heading for a power plant in New Hampshire…by standing on the railroad tracks in front of the train. Evidently they thought the train could, and would, screech to a halt. This short video is dark and doesn’t show much, but it conveys some sense of why this was a poor idea:
  • China’s Renewed Coal Boom

    12/02/2019 4:26:32 AM PST · by daniel1212 · 12 replies
    27 November 2019 | Robert Hunziker
    Greenpeace congratulated China and the EU by contrasting it with Trump’s refusal to commit the United States to the Paris climate accord: “What gets the pair together isn't just Trump – China and the EU understand the opportunities offered by a clean and climate-safe world.” Oops! Hold your horses! All bets are off! According to a BBC news headline d/d November 20, 2019: “Climate Change: China Coal Surge Threatens Paris Targets.” Astonishingly, over the past 18 months China has added enough new coal-based electricity generation (43GW) to power 31 million homes. King coal has returned. Not only, China is also...
  • China coal-fired power capacity still rising, bucking global trend: study

    11/21/2019 5:05:12 AM PST · by karpov · 17 replies
    Reuters ^ | November 19, 2019 | David Stanway
    China also has another 121.3 GW of coal-fired power plants under construction, U.S.-based research network Global Energy Monitor said in its report, nearly enough to power the whole of France. The increase followed a 2014-2016 “permitting surge” by local governments aiming to boost growth while formerly suspended projects have also been restarted, Global Energy Monitor said. In the rest of the world, coal-fired power capacity fell 8.1 GW over the same period. To cut pollution and greenhouse gas emissions, China has promised an “energy revolution” aimed at dramatically reducing its reliance on coal. It cut coal’s share of the country’s...
  • Former coal executive Don Blankenship announces third-party presidential run....

    11/11/2019 10:31:07 AM PST · by caww · 118 replies
    washingtonexaminer. ^ | 11/11/2019 | Zachary Halaschak
    Blankenship, 69, said he will be running as a candidate 'for the Constitution Party', a political party that places itself to the right of the Republican Party.... Blankenship shares many of President Trump’s policy positions,..but said that Trump hasn’t been effective. Blankenship is known for his 2018 Senate bid,.....He lost the Republican primary in the race and then was blocked from running on a third-party ticket in the Senate race.
  • Trump’s EPA Rolling Back Obama-Era Anti-Coal Regulation

    11/04/2019 8:45:23 PM PST · by Tolerance Sucks Rocks · 11 replies
    The Daily Signal ^ | November 3, 2019 | Fred Lucas
    The Environmental Protection Agency will propose easing rules on disposal of coal ash, the residue from burning coal, to make it less likely the federal government would shutter a coal-fired utility plant, in an announcement set for Monday. The move is part of what has been a larger deregulation push by the Trump administration to roll back strict Obama-era regulations that the industry viewed as the previous administration’s “war on coal” that pushed to shut down many coal-fired power plants. “The EPA is no longer picking winners and losers in electric generation,” Peter Wright, assistant administrator for EPA Office of...
  • How Colorado’s Green Little Deal Is Set To Ruin The State Economy

    11/04/2019 9:32:53 AM PST · by george76 · 41 replies
    The Federalist ^ | NOVEMBER 4, 2019 | Jimmy Sengenberger
    Colorado Gov. Jared Polis and his merry band of Green Little Dealers offer a national alarm bell for the national Green New Deal proposal. ... Advocates for free markets, affordable energy for everyday people, and expanding our miraculous energy independence must closely watch what’s happening among the states. Case in point: Colorado’s Green Little Deal ... directly attack key industries such as coal, oil and gas, and automobiles while giving considerable power to government to regulate and transition workers, all disregarding economic realities. ... Polis has established Offices of “Just Transition” and “Future at Work.” ... The big difference between...
  • Blackhawk Mining announces closure of facilities in southern West Virginia

    10/09/2019 6:49:45 AM PDT · by buckalfa · 21 replies
    WV MetroNews ^ | October 8, 2019 | Jake Flatley
    LOGAN, W.Va. — Three underground coal mines and two preparation plants in Logan and Mingo counties have been idled by Kentucky based company Blackhawk Mining and its subsidiaries. Blackhawk announced Tuesday afternoon saying the affected operations are the Washington Underground Mine, Muddy Bridge Underground Mine, Buffalo Underground Mine, Fanco Preparation Plant and Loadout in Logan County and Mingo 1 Preparation Plant and Mingo 2 Scaggs Loadout in Mingo County. “It’s sad and it’s disturbing,” Bill Raney, the President of the West Virginia Coal Association told MetroNews of his reaction to the news. “It’s just a matter that the coal market...
  • Co. gets permit to build coal-to-liquid-facility in Mason County; more than 250 jobs (W.Virginia)

    10/05/2019 9:58:07 PM PDT · by 2ndDivisionVet · 16 replies
    WTAP-TV ^ | September 13, 2019
    A company now has the construction permit to build a "state-of-the-art" coal-to-liquids facility in Mason County, creating more than 250 jobs. According to a news release from Domestic Synthetic Fuels, the company received a permit from the West Virginia Department of Environmental Protection to build the facility near Point Pleasant. DSF officials said it will take thousands of workers to build the facility. After construction, the plant will create 130 jobs on-site and 130 coal- mining jobs to supply the raw materials. "This will have a tremendous economic impact on our county," said John Musgrave, executive director of the Mason...