Predictions of coal’s demise in the U.S. may be greatly exaggerated.
Natural gas prices at a four-year high have utilities shifting to coal to generate 4.519 million megawatt-hours a day, the most since 2011, government data show. Within three years, coal’s share of power production could climb to 40.3 percent from about 39 percent last year, while gas’s share will probably drop to 27 percent from 27.5, the U.S. Energy Information Administration said.
An arctic blast has helped put the U.S. on pace for the coldest winter in more than 30 years through January, prompting utilities to burn more of the less expensive coal. The U.S. is poised to emit the most carbon dioxide in three years, undermining President Barack Obama’s efforts to reduce pollution and steer utilities away from the fossil fuel.