As reported previously, coal exports to Europe, India, and China are set to break some major records in 2012. In fact, Europe is burning coal at its fastest rate since 2006.
Although domestic demand for coal has declined over the past year due to the falling prices of natural gas, international demand for Kentucky’s most prized natural resource is growing strong. This is part of the reason why coal companies that do significant business in the commonwealth, like Arch Coal and Peabody Coal, are showing healthy growth this year.
Those who claim no new coal mining operations will be established in Kentucky – even if the EPA were to forfeit the game of picking winners and losers in Bluegrass energy markets – have to deal with the very real fact that there’s a lot of people outside of the U.S. that are relying on our energy sector for cheap energy rates and substantial growth.
And that means jobs and opportunities for Kentuckians.