Earth Equity News

Coal Industry Reeling from Setbacks, Vows to Fight On. By Matthew Brown, AP, March 8, 2009. "Beneath the frozen plains of eastern Montana and Wyoming lie the largest coal deposits in the world -- enough to last the United States more than a century at the nation's current burn rate. The fuel literally spills from the ground where streambanks cut into the earth, hinting at reserves estimated at 180 billion tons. But even here lawsuits over global warming and the changing political landscape in Washington are pummeling an industry that has long been the backbone of America's power supply... The exodus from coal has hit every corner of the country... President Barack Obama -- once a reliable supporter of the industry -- on Feb. 17 signed an economic stimulus package with $16.8 billion for renewable energy and efficiency programs. The coal industry was left with just $3.4 billion. Congress had earlier removed $50 billion in loan guarantees for coal-to-liquids plants and the nuclear industry... Last year, only five new coal plants totaling about 1,400 megawatts came on line. Meanwhile, the wind energy sector added a record 8,300 megawatts. Yet any proclamation of coal's demise would be premature... After spending an estimated $40 million during the 2008 election on a pro-coal public relations campaign, a consortium of companies [CleanCoalUSA.org] that dig, ship and burn the fossil fuel may match that spending this year."