Mines Reopen as Coal Takes Lead in Energy
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Mines Reopen as Coal Takes the Lead in Energy
Summary
In the mid-1990s, coal was overshadowed by natural gas, the favored energy source for environmentally conscious Americans. Today, the landscape is shifting, and coal is reclaiming its prominence.Article
During the mid-1990s, coal took a back seat as natural gas emerged as the preferred energy source. However, in 1998, a pivotal change marked the resurgence of coal. A U.S. Department of Energy report noted a reversal in the trend of declining consumer coal stocks, and combined with sustained low coal prices, this shift revitalized the coal industry.Today, over half of America’s electricity is derived from coal. Mines that were closed in the 1990s are reopening, bringing former workers back into the workforce. The United States boasts an extensive coal supply?"with 274 billion tons of recoverable reserves?"making coal 39 times more abundant than natural gas and 54 times more abundant than oil.
Efforts to reduce coal's environmental impact have shown progress. The coal-based electricity sector has managed to lower sulfur dioxide and nitrogen oxide emissions. Between 1980 and 2001, sulfur dioxide emissions fell by 38% and nitrogen oxide emissions by 32%.
Coal remains crucial to the U.S. energy sector, both now and in the future. Quest Minerals and Mining Corp. (OTC BB: QMMG.OB) is significantly contributing to the industry's revival. The company focuses on acquiring and reopening coal properties in the southeastern U.S. that meet Clean Air Act standards.
Quest recently finalized the acquisition of Gwenco Inc., securing over 700 acres of coal leases with nearly 13 million tons of coal across six seams. Plans are underway to reopen two of Gwenco's former drift mines for commercial coal production. The coal extracted from these mines will supply public utility companies in Kentucky and Ohio.
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