TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker or making a Paypal contribution here: paypal.me/SupportTMC

coal giant cuts jobs, sells 60% of assets

Discussion in 'Energy, Environment, and Policy' started by boofagle, Dec 8, 2015.

  1. boofagle

    boofagle Member

    Joined:
    Aug 14, 2015
    Messages:
    114
    Location:
    York, PA
  2. flankspeed8

    flankspeed8 Member

    Joined:
    Dec 19, 2014
    Messages:
    645
    Location:
    Vermillion, MN
  3. mspohr

    mspohr Active Member

    Joined:
    Jul 27, 2014
    Messages:
    1,798
    Location:
    California
    The coal industry is dying and will never come back. Even China has a multi-year drop in coal use and is closing mines.
    We now just have to kill the oil industry... which will be much harder.

    - - - Updated - - -

    The coal industry is dying and will never come back. Even China has a multi-year drop in coal use and is closing mines.
    We now just have to kill the oil industry... which will be much harder.
     
  4. AudubonB

    AudubonB Mild-mannered Moderator Lord Vetinari*

    Joined:
    Mar 24, 2013
    Messages:
    4,247
    Location:
    Denali Highway, Alaska
    It's not all good news, however. We still have developments like the Philippines to contend with. They are bringing on line some two dozen new coal-fired plants in the next five years; total output at some 12,200 MW. Nation's current total is 18,500 MW, according to one of the below articles, with one-third of that from coal (I'm not sure of the accuracy of these data, other than the new plant totals). This comes at a time when the gov't Energy Sec'y gives a nod - or at least lip service - to renewable energy, saying his DOE "targets" 30 percent vs current 23 percent. However, companies like Meralco and Ayala Corp are heavy hitters in the Philippines and are unlikely easily to be defeated.

    The coal is to come from domestic mines - I've no recollection of that coal's quality (used to know these things); and Indonesia.

    Links:

    Philippines Star June 15 article featuring Energy Sec'y Petilla: 23 new power plants to go online by 2020 | Business, News, The Philippine Star | philstar.com

    and

    Reuters Aug. 24 article that has a fair discussion of the Philippine renewable situation as well: http://www.reuters.com/article/philippines-energy-coal-idUSL3N10U22520150824#56xoVMkD2zovVbud.97
     
  5. roblab

    roblab Active Member

    Joined:
    Jul 15, 2008
    Messages:
    2,030
    Location:
    Angwin (Napa Valley) CA
    And if only a few of those 85000 jobless started installing solar panels, wind turbines, etc, what a difference!

    Any time people lose jobs other people hire. The jobless rate remains fairly constant. Just think how sad we will all be when GM, Ford, etc. start to lay off people because they can't figure out how to make an EV. But someone else will. And they'll need workers.
     
  6. nwdiver

    nwdiver Active Member

    Joined:
    Feb 17, 2013
    Messages:
    2,406
    Location:
    United States
    #6 nwdiver, Dec 8, 2015
    Last edited by a moderator: Mar 13, 2016
    ......well......

     
  7. CHG-ON

    CHG-ON Still in love after all these miles

    Joined:
    Jun 24, 2014
    Messages:
    2,766
    Location:
    Santa Cruz Mountains, USA
    Good. Though I feel for the employees.
     
  8. kort677

    kort677 Active Member

    Joined:
    Sep 17, 2015
    Messages:
    1,910
    Location:
    florida.
    the economic consequences are huge, the environmental benefits are not as dramatic as the greenies claim, while coal is dirty it's replacements aren't benign
     
  9. MichFin

    MichFin Member

    Joined:
    May 8, 2015
    Messages:
    282
    Location:
    Detroit, MI
    Just because company A is dumping their coal mines and letting go of the employees involved with it doesn't meant the coal mine shuts down. Company B buys the mine and just hires most if not all of the people working in the mines before. It's just a transfer of ownership.
     
  10. mspohr

    mspohr Active Member

    Joined:
    Jul 27, 2014
    Messages:
    1,798
    Location:
    California
    Except that these are "fire sales" and many of the mines will probably close. This is part of a broader trend and is the result of falling commodity prices.
    This article explains it well:
    http://www.forbes.com/sites/timtreadgold/2015/07/21/widespread-mine-closures-to-follow-the-commodity-price-collapse/

    This article (from way back in 2013) points to the closure of coal power plants and mines:
    The new normal: US coal-fired power plants close, coal mines go idle

    This is a good long term trend. If we are to survive, we need to leave all fossil fuels in the ground.
     
  11. kort677

    kort677 Active Member

    Joined:
    Sep 17, 2015
    Messages:
    1,910
    Location:
    florida.
    I hate to be the one who breaks this news to you, but you and everyone else who sees this are going to die, regardless of fossil fuels being found and consumed.
     
  12. mspohr

    mspohr Active Member

    Joined:
    Jul 27, 2014
    Messages:
    1,798
    Location:
    California
    You are so cute.
     
  13. Twiglett

    Twiglett Single pedal driver

    Joined:
    Oct 3, 2014
    Messages:
    781
    Location:
    Austin
    I'm thinking beyond my own selfish needs and thinking about helping my kids' grandkids - and hoping that their kids have a world to be born into
    Just sayin'
     
  14. nwdiver

    nwdiver Active Member

    Joined:
    Feb 17, 2013
    Messages:
    2,406
    Location:
    United States
    #14 nwdiver, Dec 9, 2015
    Last edited: Dec 9, 2015
    .... that's very true, everything has some impact.... but seeing as how solar, wind and storage are ~1% as harmful as fool fuel and now cheaper... I'd call that a pretty good deal...


    Correction.... solar, wind and storage are much <1% as harmful... and that doesn't even include the effects of AGW...

    d75936b917b5dbe2376ac949a9a0acf9.jpg
     
  15. kort677

    kort677 Active Member

    Joined:
    Sep 17, 2015
    Messages:
    1,910
    Location:
    florida.
    how many advanced civilizations have come and gone over the ages? our fate is already predetermined
     
  16. ecarfan

    ecarfan Well-Known Member

    Joined:
    Sep 21, 2013
    Messages:
    10,381
    Location:
    San Mateo, CA
    "Civilizations" come and go over the centuries, however -- news flash -- humanity continued.
    The reason for not extracting and burning up all the coal and oil in the ground is so as not to raise the global mean temperature by such a large amount that humanity and most other species will perish.
     
  17. nwdiver

    nwdiver Active Member

    Joined:
    Feb 17, 2013
    Messages:
    2,406
    Location:
    United States
    LOL... that's one of my more favorite excuses for procrastination... I wonder if it's ever been used in a murder case...

    Judge, 'You stand accused of murder, how do you plead?'

    Defendant, 'Hey... come on... it's not like the guy was going to live forever.... right?'
     

Share This Page