News in Coal: Short Lofty Campaign Promises
The Federal Energy Regulatory Commission rejected a Rick Perry proposal to make wholesale market pricing reforms applicable to certain coal plants and now the industry is aiming efforts at tax credit extenders. And the largest U.S. power grid, PJM Interconnection LLC, is now looking at other alternatives to help aid the industry. Yeah, sure, it sounds like coal needs all the help it can get. Natural gas is kicking its a$$. And insurers are getting increasingly skittish about underwriting the industry. As for mining jobs, President Trump made some lofty promises. After one year of office, the industry has added 500 jobs. BUT, Mepco LLC announced this week that it was going to close a mine near the Pennsylvania-West Virginia border and shed 370 jobs. We're not math experts but 500 - 370 = #MAGA!!