Comeback in coal-fired power generation may be short-lived
Obama did say he wanted to bankrupt coal.
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The coal industry may be catching a break, as coal-fired power generation has been on the rise due to rising natural gas prices, according to government energy projections. But the industry believes this “coal renaissance” will be short-lived as looming environmental regulations make it impractical to build a coal plant in the U.S.
The Energy Information Administration expects that coal will be used to produce 39.1 percent of the country’s total electricity generation in 2013 and 2014, up from 37.4 percent last year. This is due to rising natural gas prices.
The EIA reported that natural gas prices will average around one dollar more in 2013 and 2014 over the 2012 average — $3.53 per million British thermal units in 2013 and $3.84 per MMBtu in 2014. The average price was $2.75 per MMBtu in 2012.