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1.Market Observations, 8.Was Sticky

30 Mar 2017 (AFR,LexColumn) – Coal yes, but no rescue for Homer Simpson – Climate change rollback is false spring for Appalachia

(30 March 2017, AFR, p23, by The Lex Column)

‘Chief executives are paid to be ahead of the times. But for America’s CEO president, an affection for coal mining shows little of the vision that US power producers have lately demonstrated. Mr Trump is rolling back six Obama-era environmental protection rules in a sop to the coal industry. This will do little to arrest a long-term decline. Coal production, most associated with the Appalachia region, fell by a tenth in 2016. Its share of US power output has fallen from a half to a third. According to the US energy department, coal mining employment fell to 66,000 last year, the lowest level since its records began in 1978. In response, Mr Trump is revising the Clean Power Plan, which was designed to reduce carbon dioxide emissions sharply by 2030 and, purportedly, cripple the industry.’

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