The ailing American coal industry, which has pinned its hopes on exports to counter a declining market at home, is scaling back its ambitions as demand from abroad starts to ebb as well.
Just south of here, New Elk Coal terminated its lease late last month at the Port of Corpus Christi, where it had hoped to export coal to Brazil, Europe and Asia. Two days later, when the federal government tried to auction off a two-square-mile tract of land in Wyoming’s Powder River basin, a region once poised to grow with exports to Asia, not a single coal company made a bid.
They were the latest signs that a global coal glut and price slump, along with persistent environmental opposition, are reducing the likelihood that additional exports could shield the industry from slipping domestic demand caused by cheap natural gas and mounting regulations.
United States coal exports this year are expected to decline by roughly 5 percent from last year’s record exports of 125 million tons, and many experts predict the decline will quicken next year.
Poorly written story, as usual.
If the story were properly written, the lede would state clearly that the "ailing" coal industry is the direct result of O'Bama policy to kill the coal industry. He drew a line in the coal bin ten years ago and that's the ONE promise he has kept.
And for the 47% who wish they didn't see now, what they didn't know then:
Without a job, all the subsidies in the world won't get you the health care you need.