Gizmodo discusses How Coal’s Doing During the Pandemic. Big Oil has hogged the spotlight of fossil fuels in decline since the coronavirus pandemic began. Which, sure, it’s news that some of the richest companies on Earth have floundered once everyone decided to stay home. But we’re big believers in equal opportunity here at Earther so let’s take a look at what’s going on with the largest coal company in the US: Peabody Energy. It reported quarterly earnings on Wednesday and dear lord are they bad. The company ate a record loss of $1.54 billion and wrote down the value of its largest mine by $1.42 billion. Those are very large numbers that do not bode well for Peabody’s future success.
The Guardian discusses how India plans to fell ancient forest to create 40 new coalfields. Narendra Modi’s dream of a ‘self-reliant India’ comes at a terrible price for its indigenous population. Over the past decade, Umeshwar Singh Amra has witnessed his homeland descend into a battleground. The war being waged in Hasdeo Arand, a rich and biodiverse Indian forest, has pitted indigenous people, ancient trees, elephants and sloths against the might of bulldozers, trucks and hydraulic jacks, fighting with a single purpose: the extraction of coal. Yet under a new “self-reliant India” plan by the prime minister, Narendra Modi, to boost the economy post-Covid-19 and reduce costly imports, 40 new coalfields in some of India’s most ecologically sensitive forests are to be opened up for commercial mining.
The Hill discusses why 2019 coal production hit lowest level since 1978. Last year, coal production fell to the lowest level since 1978, according to data released by the U.S. Energy Information Administration (EIA) on Tuesday.
Mongabay discusses how business risk and COVID-19 are pushing Asian financiers away from coal.
The Tyee discusses an Alberta Coal Grab: What Is the Sound of One Group Lobbying? Ask the Coal Association, the only group listened to before Kenney dropped barriers to open-pit mining on the Rockies’ eastern slope.