Shelley Goldberg, Columnist

U.S. Coal Industry Shows No Sign of Comeback

Despite Trump's promises to revive the industry, the global market is evaporating.

November 24, 2017 at 12:00 PM UTC

Shelley Goldberg is an investment adviser and environmental sustainability consultant. She has worked as a commodities strategist for Brevan Howard Asset Management and Roubini Global Economics.

Last gasp?
Photographer: Luke Sharrett/Getty Images

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President Donald Trump has made clear his intention of “bringing back coal.” He has rolled back environmental regulations and moved to repeal the previous administration's curbs on carbon emissions from power plants. Last week, adhering to a British-Canadian initiative presented at the 2017 United Nations climate change talks in Bonn, about 20 nations and regions (expected to grow to 50 by 2018) pledged to cease using coal as fuel for power generation starting in 2030. The U.S. and Germany refused to sign the accord, though talks regarding Germany’s decision will resume in Berlin.

Despite Trump’s rhetoric, the U.S. coal industry continues to shrink, mostly because of issues surrounding the fuel's environmental ramifications, along with an aging industry infrastructure and a greater focus on renewable energy. Solar and wind are the fastest-growing U.S. sources of electricity.