Did Trump Just Save the Dying Coal Industry?

"It's no secret that coal, as an energy source, has been dying. Coal-fired power plants have been in a secular decline for years due to lower-cost natural gas. From 2010 to 2024, 290 coal plants closed, representing 40% of U.S. coal generating capacity. That's over 100 gigawatts of capacity retired, with another 80 gigawatts slated to shut by 2030. No new large-scale coal plants have been permitted since 2010, as environmental regulations and cheaper alternatives like fracking-boosted gas made them uneconomic."

"Yet with the insatiable demand for electricity caused by artificial intelligence (AI) - data centers could consume as much power as Japan by 2030 - and existing capacity unable to meet expected surges, an "all of the above" strategy will be necessary, including coal. Projections show AI-driven U.S. electricity demand doubling data center needs by 2026, potentially adding 1.7 gigatons of global emissions if met by fossil fuels."

"The animus toward coal extends to Europe, where phase-out policies dominate. Germany, for instance, plans to close its last coal plant no later than 2038, though it temporarily reactivated some during the 2022 energy crisis sparked by Russia's invasion of Ukraine. Eleven EU countries aim to eliminate coal from their electricity mix by 2030, with coal's share dropping from 16% in 2019 to under 10% in 2024."

Coal-fired power generation in the U.S. has fallen sharply, with 290 plants closed from 2010 to 2024, removing over 100 gigawatts and representing 40% of capacity. Another 80 gigawatts are slated to retire by 2030, and no new large-scale coal plants have been permitted since 2010 due to environmental rules and cheaper natural gas. European countries are pursuing coal phase-outs, with Germany targeting final closure by 2038 and eleven EU nations aiming elimination by 2030. Rapidly rising electricity demand from AI and data centers could force an "all of the above" approach, potentially adding large emissions if met by fossil fuels. China continues to rely heavily on coal, at roughly 62% of its electricity mix. The U.S. administration announced opening 13.1 million acres for leasing, mostly in the Powder River Basin.

Read at 24/7 Wall St.