All in Economy

Decline of Coal

Murray Energy’s recent bankruptcy filing is a reflection of the broader industry’s declining role in the United States. Last year, demand for coal fell to its lowest point in 40 years, and production dropped to the second-lowest it has ever been. Its expected to drop by a further 17.3 million in exports by 2020, having already dropped 20.9 million in the third quarter of 2018, which is a 28% drop from its exports last year at this same time. As renewable energy becomes cheaper and more accessible, more American families and businesses are switching to using hydro-electric, wind, or solar farms to power their activities.