July 22, 2018 Read More →

Trump’s energy proposal could derail plans in Lordstown

Youngstown (Ohio) Vindicator:

Although Siderewicz voted for Trump, he had hoped the president would stay away from the energy industry if elected.

Siderewicz is now sounding the alarm on the potential negative impacts of the policy. He said a bailout of the coal industry would shatter Ohio’s competitive energy market, endanger investments in gas-fired plants and cost consumers and businesses billions in higher electricity rates.

“Everyone [who] has an IQ of more than 25 is upset about this,” Siderewicz said. “This is so un-American.”

In 2009, coal fueled 45 percent of the country’s electricity production, according to the Institute for Energy Economics and Financial Analysis.

By 2017, that share had dropped to 30 percent.

Attributing the trend to an abundance of cheap natural gas, growth in renewable-energy sources, and little growth in electricity demand, the institute recently reported that coal’s market share will continue to shrink.

“In electricity generation – the key market for coal – the industry is increasingly uncompetitive and is losing market share,” wrote David Schlissel, IEEFA director of resource planning analysis and lead author on a report titled “U.S. Coal: More Market Erosion Is on the Way.”

“Further declines in coal’s energy generation market share can be expected through 2018 and beyond,” he wrote.

Trump’s energy proposal could derail plans in Lordstown

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