Trump Likely to Phase Out Tax Breaks for Renewables, Says GOP Lobbyist
Donald Trump is unlikely to resurrect efforts to save the coal industry and the president-elect may keep in place — at least temporarily — some tax incentives for renewables, a top Republican lobbyist told energy executives on Tuesday.
But the energy sector still should prepare for a protracted battle over the future of President Joe Biden’s signature climate law, said Mike McKenna, who served in the first Trump administration.
He predicted tax incentives for electric vehicles were the most at risk of repeal, and that incentives for renewables likely would be phased out over time. Fears that Trump could retroactively repeal existing subsidies are overblown, he said — especially given the incoming president’s background in the private sector.
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Coal Remains Crucial for Emerging and Developing Nations
Coal continues to play a vital role in emerging and developing nations. According to Ember, Kosovo led global coal consumption in 2023, with 88% of its power derived from coal. Other countries with high coal consumption include Mongolia, South Africa, India, and Kazakhstan.
The Philippines, ranked seventh in coal use, saw its share of coal in electricity generation rise to 62% in 2023, marking the fifteenth consecutive year of increase and the highest growth rate since 2016.
Michelle Manook, CEO, FutureCoal
For many of these countries, coal is more than just a fuel; it is a critical element of development. Its affordability and reliability make it a key driver of industrial progress and economic stability.
FutureCoal champions a pragmatic approach to global energy transitions, emphasising the sovereign right of nations to determine their energy strategies. Recognising coal's critical role in development, FutureCoal advocates for sustainable practices and innovations to ensure coal remains a reliable resource capable of addressing both environmental and economic challenges.
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Mine Rescue Contest Wins
Mine rescue teams prepare miners for the worst possible situations, and mine rescue contests help ensure miners are ready to assist their colleagues in a real crisis. The Doe Run Company’s Maroon and Gray mine rescue teams took home multiple awards at the Missouri Regional Mine Rescue contest in late September. Out of nine competing teams, the Maroon team took first in the field competition, and the Gray team took first in both the team technician and first-aid competitions.
“Our success is a testament to our teamwork,” said Andrew Hampton, captain of Doe Run’s Maroon team and instrument tech at Doe Run’s Fletcher Mine and Mill. “Each team has great comradery, and it shows. We are all dedicated to the aid of fellow miners, and I am proud to work alongside these folks. We appreciate our company’s support of these competitions, and although we hope we never need to use these skills in a real crisis, we’re more than ready to assist our colleagues if the need arises.”
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American Resources Corporation Announces Expansion Plan of Carnegie High Vol Met Coal Mine
American Resources Corporation (OTCQB: AREC), a mining company focused on the extraction, processing, transportation and selling of metallurgical and premium thermal coal, is pleased to announce the planned expansion of their Carnegie coal mine in Pike County, Kentucky. The Carnegie mine, an underground mine within the Alma coal seam, produces high-volatile A/B metallurgical coal that is used to make steel in both the domestic and export markets.
American Resources has commenced the upgrade process to expand the Carnegie mine plan to support a significantly higher production output under its low-cost, efficient operating strategy. More specifically, the enhanced mine plan will support two super-sections (four continuous miners) and two production shifts per day rather than the one single-section (one continuous miner) and one shift per day that it was previously utilizing. In total, the company expects the production at its Carnegie mine to increase from approximately 4,000 to 6,000 tons per month to approximately 37,000 to 42,000 tons per month once fully implemented and producing. The company expects to complete this expansion plan and restart production at Carnegie in January 2019.
"We're excited about enhancing productivity at our Carnegie mine and feel that it is coming at a good time for us given the strong demand for our coal qualities as well as the continued strong pricing environment," stated Kirk Taylor, Chief Financial Officer of American Resources Corporation. "We applaud our mining, engineering and development teams for setting this mine up for long-term success."
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Montana Senator Tees Up Legislation to Reverse Biden's Ban on Coal Mining at Major Hub
Montana Sen. Steve Daines has vowed to introduce legislation that would reverse a recent decision by President Biden to stop new coal mining at one of the nation’s top-producing sites.
Earlier this week, the Biden administration announced a halt to leases and roll back approved developments in the Powder River Basin, which sits in Montana and Wyoming and produces 43% of the country’s coal, according to the U.S. Energy Information Administration.
Steve Daines
The administration’s decision made good on a promise in May to end future coal mining leases in the area and followed a Bureau of Land Management report that found significant impacts on the climate, the environment and human health from new leases.
In its decision, the administration argued that halting new leases would reduce carbon dioxide emissions from entering the atmosphere.
According to a filing from the Bureau of Land Management, Biden’s move would halt the mining of about 48 billion tons of coal.
Current operating mining leases in the Powder River Basin, which would last until 2041, would not be affected by the administration’s move.
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