Drudge Retort: The Other Side of the News
Monday, September 16, 2019

The CEO of the world's largest private coal company sat before a group of U.S. lawmakers who wanted to know whether the fuel had a future. He didn't hesitate. "Coal," he said, "is the future."

It was 2010. Coal supplied nearly half of America's power, the executive testified, and was growing more than 1.5 times faster than oil, natural gas, nuclear and renewables combined. Global demand was on pace to rise 53% within two decades. And renewable energy? Not an option. "Wind and solar comprise just 1% of today's U.S. energy mix," Gregory Boyce, then the chief executive of Peabody Energy Corp., told the members of Congress. "It is unrealistic to suggest that renewables could replace conventional baseload fuels."

Not quite. This April, for the first time ever, renewable energy supplied more power to America's grid than coal"the clearest sign yet that solar and wind can now go head-to-head with fossil fuels. In two-thirds of the world, they've become the cheapest forms of power.



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Good headline.

#1 | Posted by boaz at 2019-09-16 02:03 PM | Reply

Good headline.


You might want to read the article ~

#2 | Posted by PinchALoaf at 2019-09-16 10:39 PM | Reply

Moronic article. What changed the equation is fracking and all the natural gas that instantly became available. Couple that with the regulations on coal and it loses big time to natural gas. However, renewables are still only competitive when you combine massive regulatory costs on coal + massive government subsidies for green energy. If you want to see how things work in a market economy without government interference - look at Vietnam or China. Vietnam is building a 600MW coal fired plant as we speak. The coal will be barged in from Indonesia. Or, check out the Philippines. The remote islands did not construct windmills or solar - they have diesel powered turbines mounted on floating barges.

I want green energy to succeed - I work in green financing. However, anyone claiming it is competitive with thermal (coal/gas) doesn't have a clue what they are talking about. It is competitive with thermal like ethanol is competitive with oil.

#3 | Posted by iragoldberg at 2019-09-18 07:41 AM | Reply | Newsworthy 2

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