The decline of coal is not a conspiracy, but rather a pragmatic market reality.

The United States Justice Department and Federal Trade Commission have been involved in a lawsuit accusing asset managers of colluding to harm coal companies. The lawsuit argues that coal’s decline in the United States did not start with asset managers or ESG investment policies, but with the shale gas revolution. The decline was not only inevitable but predictable, as natural gas outcompeted coal due to its economic sense, lower operating costs, fewer regulatory burdens, and reduced environmental impact. The lawsuit also notes that coal production increased incrementally in 2021, the first year of the supposed “conspiracy.” The real focus should be on developing solutions that respect the economic system, support innovation, and ensure energy security. The real conversation should be about ensuring energy abundance through all means, such as accelerating nuclear energy, streamlining permitting for cleaner domestic production, investing in resilient grid infrastructure, and maintaining American leadership in next-generation energy technologies.

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