The dinosaurs became extinct when the climate changed after an asteroid strike, and they could not adapt. Eight U.S. coal companies filed bankruptcy this year including giant Murray Energy. All the king’s men could not put them together again because coal is gradually dying.
Coal is Gradually Dying as the First Industrial Revolution Ends
The first industrial revolution saw the invention of giant, coal-burning machines. We still make a great deal of our electricity this way, but Carbon Brief says renewables, nuclear and gases are making inroads. Moreover demand for grid electricity is slowing, and even negative in some parts.
There is clear evidence coal is gradually dying in their report. This says coal-electricity generation fell at the sharpest rate ever so far in 2019. The estimated fall of 3% (300 terawatt hours) is greater than all the electricity from coal in Germany, Spain, and the United Kingdom together. This will slow global emissions but they will still be above the 2º level.
Trends in Developed Countries Signal the End of Coal
The greatest savings were in the United States, South Korea, and the European Union. Bob Ward, policy director at Grantham Research Institute says “It is clear that the economics of coal production no longer make sense in many parts. It is simply cheaper to generate electricity from natural gas and renewables.”
However, we can’t yet confirm whether we are seeing a global downturn, or a dip. China has off-set U.S. and EU savings in the past. But coal generation in India and China hit the brakes sharply in 2019 as renewables, nuclear and wind absorbed slower economic growth. Global coal power station utilization fell to a record-breaking 49%.
It does not make economic sense to build any more coal power stations. When those we have finally fall silent, we will enter a healthier era and we hope to see cooling too.
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