The coal train from Trump derailed

"No group of Americans has been lied to by President Trump more than the coal workers and their families." Art Sullivan was over 50 years as a worker and Manager, and in the world as a consultant to the coal industry. He's Worried about. "The Only thing that wanted to Trump, was her voice. But he never had in mind to create for the Coal miners to new jobs in other, healthier industries". The result is devastating.

The recent debacle in Arizona appears to be particularly tragic. Here is the largest coal-fired power plant in the Western United States with a capacity of 2.25 gigawatts to over 1.7 million households supplied; without the plant, the growth of Phoenix would not have been possible. Last week, the plant stopped production for good. And this despite the fact that the operating company had asked the President repeatedly for financial help.

The facility wire for the surrounding Navajo reservations of life. You secured and allowed a minimum income for the indigenous people of the country – and these were on Trump.

coal share of electricity production decreases

The tribal leaders went to Washington and reminded us of this election promise: "If I am elected," said Trump in 2016, "I'll bring your jobs back. You will be so proud to be your President." The Navajo Nation believed also secured, because the U.S. Department of the interior was financially involved with a quarter of the power plant. Their hope was in vain. The market has spoken, the work is canceled in the next three years.

in 2008, coal contributed to 48 percent of electricity production in the country, this year there are only 22, and next year 20 percent. Displaces coal, not only by the Abundance of cheap natural gas, but increasingly by renewable energy. Sun, Wind, water and geothermal energy cover a sixth of the electricity generation and will be in accordance with the most recent forecasts by the energy Ministry in a few years the second largest source of electricity.

In the coal States of West Virginia, and Wyoming create renewable energy already a multiple of the jobs lost in the mines.

companies feel cheated

This reality of the market of the coal operators long, for too long been ignored, to Karla Kimrey, Ex-Vice-President of the coal producers Cloud Peak, whose stock is still traded at very low price from 0.0041 dollars. "Many managers and Directors were unable to see that the change was inevitable." They are all financed by Trump and his campaign. Cheated today even companies with a healthy balance sheet, explain the experts. Coal is no longer, with a few exceptions for steel production is simply not profitable.

the continued weakening of the environmental legislation of the President changes nothing, the Obama in the fight to adopt the climate change and, among other things, the air pollutant limits of the coal-fired power plants and their waste water into rivers and lakes are strictly regulated.

Even the direct subsidies to bankrupt enterprises – the socialization of losses by the state was a non-starter. "Trump, while presenting itself as the advocate of the coal," says industry analyst Mark Levin of the Wall Street Journal, "but not he, but the companies ultimately decide on the future of electricity production."

"The coal revival, is so silly as to let the horse-drawn carriage against the car are Paul Krugman, Nobel prize winner in Economics

How strong the market is and how empty the statements of the President are, shows the rapid growing number of deferral procedure". In the last twelve months, more than a half-dozen of the largest coal plants have had to initiate a bankruptcy process, in order to save what can still be saved. The two largest private companies, Murray and Foresight, have given the go-ahead to a restructuring.

Specifically, this means: total labour contracts are terminated and the health insurance and pension Fund services, to be negotiated with the investors. In individual cases, want to get new donors in the over-indebted firms and workers negotiated pay social services. But only for a year. What happens after that is not difficult to foresee. to let

More coal mines closing

"coal revival", as Nobel prize winner Paul Krugman, "is as nonsensical as the horse to let the carriage against the car there." Even the strongest in the industry, Peabody and Arch Coal, have trouble. You have recently decided to partially merge, in order to reduce costs and to the shareholders their dividends to pay.

Since Trump in office, lost to Peabody more than half the market value. At the end of December the company will close another coal mine in Arizona. The losers are the Navajo and Hopi tribes, on whose Land the coal was mined, are also here.

The only bright spot is the Export of high quality coal to India and China. But even here, the industry pushes political boundaries, as the US States on the West coast of reasons, the Export Environment is to bind.

Wyoming faces a deficit of 1.8 billion dollars.

Wyoming, with a 40 percent market share of the coal production in the U.S. hits particularly hard, as the Republican Governor, Mark Gordon, said the financial channel CNBC. "The decline in revenue from the coal charged to the funding of our education system. Without it, we can build no schools that could teach our coal workers with the technical skills for a career change."

Wyoming, a state I was just 580’000 inhabitants, in the year 2022, in front of a deficit of the public schools by $ 1.8 billion. And yet Wyoming will choose the Trump again.

Created: 27.11.2019, 12:45 PM