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World's Biggest Coal Company Closes 37 Mines as Solar P... - 6/28/2017 7:33:38 AM

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World's Biggest Coal Company Closes 37 Mines as Solar Prices Plummet

The rapid growth in renewable energy continues to put a dent in the demand for coal.

Coal India, the world's biggest coal mining company and producer of 82 percent of the country's coal, announced the closure of 37 mines that are financially "unviable."

The sites make up roughly nine percent of the total mines operated by Coal India. The company is expected save Rs 800 crore ($124 million) from the closures.

India's energy market is undergoing a rapid transformation as it moves away from fossil fuels. Last month, the country cancelled plans to build nearly 14 gigawatts of coal-fired power stations.

Notably, solar has been cheaper than coal-based electricity in India for the past several months. According to Quartz:

"At an auction for 500 megawatt (MW) of capacity at the park on May 12, the state-run Solar Energy Corporation of India (SECI) managed to discover a record-low tariff of Rs 2.44 per kilowatt-hour (kWh). The previous low was two days before that when tariffs hit Rs 2.62 per kWh during auctions for another phase of Bhadla solar park.

"The country's largest power company, NTPC, sells electricity from its coal-based generation units at a princely Rs 3.20 per kWh."

The National Thermal Power Corporation of India said that the country currently hosts a solar power capacity of 845 megawatts, after the recent addition of a 225 megawatt solar farm, the Mandsaur Solar Power Project.

"India's solar sector has received heavy international investment, and the plummeting price of solar electricity has increased pressure on fossil fuel companies in the country," as The Independent reported. "The government has announced it will not build any more coal plants after 2022 and predicts renewables will generate 57 percent of its power by 2027—a pledge far outstripping its commitment in the Paris climate change agreement."

https://www.ecowatch.com/india-coal-mines-close-2446931737.html?xrs=RebelMouse_fb&ts=1498251928

RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/28/2017 7:34:41 AM

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The switch to renewables is pure economics.

Good old Conservative CAPITALISM

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Whoever said "Religion is the opiate of the masses" never heard Right Wing talk radio.

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RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/28/2017 7:54:18 AM

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Couldn't you find a more biased source for your propaganda spew?

Even if it were true, it's not happening because government makes it happen, it's all up to the private sector.

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RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/28/2017 8:03:47 AM

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So, the fake news takeaway here is that the market has decided, coal is to expensive, not efficient, and as useless as the buggy whip, and the workers.

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RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/28/2017 8:23:32 AM

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quote:

ORIGINAL: BoscoX

Couldn't you find a more biased source for your propaganda spew?

Even if it were true, it's not happening because government makes it happen, it's all up to the private sector.

"received heavy international investment "

Reading comprehension. Work on it.

The private sector is all over this.

(in reply to BoscoX)

RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/28/2017 9:25:23 AM

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My mind is not for rent to any god or government.

Business goes where the money flows.

As soon as a viable option rather than fossil fuel appears, British Petroleum, Exxon Mobile and all the rest of them will be selling it. Right now their deal is petroleum and its byproducts. Once something cheaper and better comes along they will abandon oil like a sinking ship, which it will be.

If you don't understand that, no wonder you got regular jobs.

T^T

(in reply to Musicmystery)

RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/28/2017 9:43:16 AM

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Actually, right now it's heavy into solar, except where the government warps the market toward coal and petroleum.

That I understand business is why I have a successful one and you don't, if you really want to put it in those terms.

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RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/28/2017 10:28:56 AM

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quote:

ORIGINAL: BoscoX

Couldn't you find a more biased source for your propaganda spew?

Even if it were true, it's not happening because government makes it happen, it's all up to the private sector.

Why do you hate Capitalism?

_____________________________

Kinkier than a cheap garden hose.

Whoever said "Religion is the opiate of the masses" never heard Right Wing talk radio.

Don't blame me, I voted for Gary Johnson.

(in reply to BoscoX)

RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/28/2017 10:50:57 AM

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ORIGINAL: Termyn8or

My mind is not for rent to any god or government.

You cannot rent what you do not posses

Business goes where the money flows.

As soon as a viable option rather than fossil fuel appears, British Petroleum, Exxon Mobile and all the rest of them will be selling it.

Cite please.

Right now their deal is petroleum and its byproducts. Once something cheaper and better comes along they will abandon oil like a sinking ship, which it will be.

Solar has been around longer than you and still they have not embraced it.

If you don't understand that, no wonder you got regular jobs.

Not everyone is as proud as you are of being a criminal.

(in reply to Termyn8or)

RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/30/2017 9:39:33 AM

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And oil is still heavily subsidized.

A 2009 study by the Environmental Law Institute assessed the size and structure of U.S. energy subsidies in 2002–08. The study estimated that subsidies to fossil fuel-based sources totaled about $72 billion over this period and subsidies to renewable fuel sources totaled $29 billion. The study did not assess subsidies supporting nuclear energy.

The three largest fossil fuel subsidies were:

Foreign tax credit ($15.3 billion)
Credit for production of non-conventional fuels ($14.1 billion)
Oil and Gas exploration and development expense ($7.1 billion)

The three largest renewable fuel subsidies were:

Alcohol Credit for Fuel Excise Tax ($11.6 billion)
Renewable Electricity Production Credit ($5.2 billion)
Corn-Based Ethanol ($5.0 billion)

Note that the alcohol and ethanol subsidies are still for petroleum companies production.

Take all those subsidies away, and suddenly solar looks damn attractive.

(in reply to thompsonx)

RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/30/2017 10:10:09 AM

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quote:

ORIGINAL: Musicmystery

Actually, right now it's heavy into solar, except where the government warps the market toward coal and petroleum.

That I understand business is why I have a successful one and you don't, if you really want to put it in those terms.

http://dailycaller.com/2012/10/30/as-many-as-fifty-obama-backed-green-energy-companies-bankrupt-or-troubled/

http://www.cnsnews.com/news/article/barbara-hollingsworth/despite-39b-annual-govt-subsidies-solar-produced-05-electricity

(in reply to Musicmystery)

RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/30/2017 10:16:35 AM

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America’s Flagship ‘Clean Coal’ Experiment Abandoned After 11 Years And $7.5 Billion
This is a bad sign for the coal industry.

The coal industry suffered a major blow on Wednesday when the utility giant Southern Company abandoned work on its troubled Mississippi “clean coal” facility amid skyrocketing costs.

The Kemper County Energy Facility, conceived under President George W. Bush, promised to turn coal into cleaner-burning gas and provide a model for the future of coal. But after 11 years and $7.5 billion, the plant failed to produce commercially viable technology.

Last week, Mississippi utility regulators offered Southern Company an ultimatum. The firm could continue experimenting with gasification, and risk losing $3.4 billion as the power board rejects a hike to the rate paid by the 187,000 customers who get power from Kemper. Or it could convert the plant to natural gas. The Atlanta-based utility, which began burning gas in 2014 to generate power amid delays on its coal conversion technology, chose the latter.

“We believe this decision is in the best interests of our employees, customers, investors and all other stakeholders,” Southern Company CEO Thomas Fanning said in a statement.

The move is an ominous bellwether for a heavily polluting industry that collapsed over the last decade as natural gas, made cheap by new drilling techniques, devoured coal’s share of the electricity market. President Donald Trump has promised to bring coal roaring back, vowing it will be “beautiful, clean coal” ― a feat already attempted by Bush and President Barack Obama.

“It’s unfortunate,” Betsy Monseu, chief executive of the American Coal Council, told HuffPost on Thursday. “It was the flagship project, there’s no doubt about that.”

In 2006, when the Kemper plant was announced, the high cost of natural gas and renewable energy kept so-called king coal firmly enthroned. But breakthroughs in hydraulic fracturing, or fracking, sent gas prices plummeting, and advancements in wind turbines and solar panels, cheaply imported from China, made renewable energy more affordable. With energy companies under growing pressure to reduce planet-warming emissions, coal became the least attractive option.

“This is a really bad sign for the future of coal projects in the United States,” Nicholas Steckler, a U.S. power analyst at Bloomberg New Energy Finance, told HuffPost. “There are plenty of reasons today not to build a coal plant, and plenty of reasons why gas wins out as a technology today.”

More at the link.

http://www.huffingtonpost.com/entry/kemper-clean-coal_us_59554276e4b0da2c73221799?section=us_politics

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RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/30/2017 10:26:46 AM

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quote:

ORIGINAL: Nnanji

quote:

ORIGINAL: Musicmystery

Actually, right now it's heavy into solar, except where the government warps the market toward coal and petroleum.

That I understand business is why I have a successful one and you don't, if you really want to put it in those terms.

http://dailycaller.com/2012/10/30/as-many-as-fifty-obama-backed-green-energy-companies-bankrupt-or-troubled/

http://www.cnsnews.com/news/article/barbara-hollingsworth/despite-39b-annual-govt-subsidies-solar-produced-05-electricity

If you want to strip away all subsidies, I can get behind that.

But I certainly see no reason to give companies in many cases larger than most countries subsidies to produce old technology.

Until those are gone, it's not a market-driven choice. Why do large companies need government welfare?

(in reply to Nnanji)

RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/30/2017 10:33:32 AM

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quote:

ORIGINAL: Nnanji

quote:

ORIGINAL: Musicmystery

Actually, right now it's heavy into solar, except where the government warps the market toward coal and petroleum.

That I understand business is why I have a successful one and you don't, if you really want to put it in those terms.

http://dailycaller.com/2012/10/30/as-many-as-fifty-obama-backed-green-energy-companies-bankrupt-or-troubled/

http://www.cnsnews.com/news/article/barbara-hollingsworth/despite-39b-annual-govt-subsidies-solar-produced-05-electricity

Obama's crony friends made out like bandits in that particular scam. I wonder how much Obama's cut was? I see he can afford private jets and $80,000.00 per night luxury resorts these days

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RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/30/2017 10:34:41 AM

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quote:

ORIGINAL: BoscoX

Couldn't you find a more biased source for your propaganda spew?

Even if it were true, it's not happening because government makes it happen, it's all up to the private sector.

come on man...eight other sources:

https://www.google.com/search?q=World%27s+Biggest+Coal+Company+Closes+37+Mines+as+Solar+Prices+Plummet&oq=World%27s+Biggest+Coal+Company+Closes+37+Mines+as+Solar+Prices+Plummet&aqs=chrome..69i57j69i61.1606j0j8&sourceid=chrome&ie=UTF-8

.....and the 'private sector' here instead, lobbies for 'public' assistance against solar and renewables cause we love all of that carbon in the air and the acid rain. Price is not nearly important as profit and we'll use a Trump and govt. when it suits the investor class to do just that.

The so-called 'marketplace' is found in many places in the US.

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(in reply to BoscoX)

RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/30/2017 10:44:38 AM

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quote:

ORIGINAL: BoscoX

Obama's crony friends made out like bandits in that particular scam. I wonder how much Obama's cut was? I see he can afford private jets and $80,000.00 per night luxury resorts these days

I wonder who got this money....http://www.collarchat.com/fb.asp?m=5048756

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RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/30/2017 10:46:56 AM

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Starting this derail in the era of Trump cronyism is just gonna be self-sabotage.

Let alone the very long list of folks in the petroleum trough.

Take away the subsidies, the math changes.

And we don't have to drill for sunlight.

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RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/30/2017 11:06:58 AM

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In 2012, Rex Tillerson's compensation package was $40.5 million.[37] It was $28.1 million in 2013, $33.1 million in 2014, and $27.2 million in 2015.[38] In late 2016, Tillerson held $54 million of Exxon stock, and had a right to deferred stock worth approximately $180 million over the next 10 years.[39]

On January 3, 2017, ExxonMobil announced they had reached an agreement with Tillerson "to sever all ties with the company to comply with conflict-of-interest requirements associated with his nomination as secretary of state

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RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/30/2017 11:33:06 AM

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quote:

ORIGINAL: Musicmystery

quote:

ORIGINAL: Nnanji

quote:

ORIGINAL: Musicmystery

Actually, right now it's heavy into solar, except where the government warps the market toward coal and petroleum.

That I understand business is why I have a successful one and you don't, if you really want to put it in those terms.

http://dailycaller.com/2012/10/30/as-many-as-fifty-obama-backed-green-energy-companies-bankrupt-or-troubled/

http://www.cnsnews.com/news/article/barbara-hollingsworth/despite-39b-annual-govt-subsidies-solar-produced-05-electricity

If you want to strip away all subsidies, I can get behind that.

But I certainly see no reason to give companies in many cases larger than most countries subsidies to produce old technology.

Until those are gone, it's not a market-driven choice. Why do large companies need government welfare?

I'd like to point out that it's not me that wants a big government that controls everything. Here, I'd like the conversation to not be one sided. You posted oil subsidies of $72 billion over six years. I've proved a link that shows $39 billion per year in subsidies to green energy that still has a lot of the companies going out of business and prices for its energy three times that of natural gas. Just putting it out there.

I also noted that your source says $29 billion in subsidies to renewables over six years and my link says $39 billion in subsidies per year. One is wrong. Mine seems high. But it should be considered.

(in reply to Musicmystery)

RE: World's Biggest Coal Company Closes 37 Mines as Sol... - 6/30/2017 11:36:08 AM

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Point is -- it's not a "market" when the government is skewing it.

Big oil does not need subsidies. Pick whatever numbers you like.

If you want to toss out solar subsidies with it, fine. Private investors can do the math.

(in reply to Nnanji)

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