In the next 10 to 20 years, coal’s value is likely to grow as advanced coal plants meet the world’s growing need for energy while helping reduce greenhouse emissions.
The constant warnings about the adverse impacts of increasing greenhouse gas concentrations, apart from being utterly inconsistent with the evidence, are similar to the ancient interpretation of destructive weather as the gods’ punishment of men for the sins of Man.
An historic energy milestone took place last year: Natural gas surpassed coal for the first time as an energy source for America’s electric power. As I point in my recent USWNR op-ed, that trend will continue in the future and it has important environment and geopolitical implications.
Cheap, abundant, and clean natural gas is here to stay, and with it the continued shift towards a more modern and efficient US generating fleet.
We’ve already bailed out the US auto industry once. Forcing the industry to defy consumer preferences and make cars nobody wants is a predictable recipe for trouble.
The American people do not have to worry about our gas resources. Let’s start exporting more US liquefied natural gas – it’s good for the economy, good for the environment, and furthers our geo-political interests in Europe and Asia.
To facilitate and maintain our new leadership position in world energy markets, we need to get domestic energy policies right. That will likely mean having the wisdom to let US natural gas producers compete more easily with foreign producers who face less cumbersome regulatory procedures.
America’s abundant and low-cost natural gas and electricity have more than offset higher labor costs in the U.S. and have contributed to the strongest profitability in a generation or more for U.S. manufacturers.
America’s new role as a major exporter of LNG is a real game-changer and has major implications and benefits for the US economy, our commitment to free trade, the energy security of our allies, and the environment.
American innovation and energy technology will be critical to helping the world start to kick its coal habit but so too will be imports of cleaner fuel from the United States.