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Thu October 31, 2013
Geologist on Coal Decline
Geology and economics are working against coal mining in eastern Kentucky and that points to a troubled future for the industry…That’s the view of Dr. Zane Selvans who is a geologist with the environmental organization Clean Energy Action.
Selvans says much of the coal still left in the Appalachian region is buried deep in the ground and requires large investments to extract it. He says that situation coupled with the growth of the natural gas business has created financial difficulty for coal companies…
Selvans says investors like Warren Buffett are now walking away from the coal industry and its companies are facing higher interest rates to finance mining operations.