So
the International Energy Agency released a report looking ahead five years. It prominently mentions the growth of solar and other renewables -- solar in particular being industry-driven, as in, companies are buying solar panels not just people for their rooftops.
It's not enough to slow climate change, they say. But you'll notice something else:
Coal energy is predicted to fall faster than the global rise in energy consumption grows, i.e. it's not just a
proportional drop, it's an
objective drop.
And the world knows it.
Coal miners in Indonesia, for example, are concerned with dropping global prices due to dropping global demand.
But the hit at home is far more relevant to this thread.
US coal fired plant demand is scheduled to drop 14% this year alone, to a 42-year low.
Bloomberg also reports that another round of coal job cuts is on the way.
More than 500 coal plants have closed since 2010, not including
these two or
this announcement, both of which were made last week.
Insurers are backing away from coal energy companies as they're increasingly bad risks.
It's become so bad, that
Investopedia's Top Five Coal-Mining Stocks for 2019 has #1 on the list giving 0.72% annual return last year. Slots two through five are all negative ten to twenty percent.
Those are the
best ones.
Minus ten to twenty percent.
"That number one, BHP, that name sounds familiar."
You might be thinking about
this announcement that BHP was going 100% green in their Chile copper mine. BHP is a coal mining company
that's moving away from coal. That's probably why they're above water and nobody else is.
And honestly it's easier for me to link
this Oct 3 article than go back and see if I've already posted it: Murray Energy, as in "Bob Murray, major Trump donor", is facing default.
When the head of the Department of Energy was asked to comment, he responded "I don't exist