1 Alarming Stat for America's Coal Industry
The hits keep coming for the coal industry.
In 2018, the United States began retiring some surprisingly young and large coal-fired power plants, which went against the conventional wisdom about how things work in the power sector. In April, the amount of electricity generated by burning coal fell to its lowest level in decades, and was below the share that came from nuclear power for the first time ever.
The latest batch of data shows that things didn't get any better this summer. In fact, the degree of that recent weakness may be the most surprising development. Coal-fired power plants usually shine in the summer months, when domestic electricity demand peaks due to our use of air conditioning, but the numbers show they were idled at alarming rates.
Source Fool.com
