<
https://www.theguardian.com/environment/2020/may/17/coal-industry-will-never-recover-after-coronavirus-pandemic-say-experts>
"The global coal industry will “never recover” from the Covid-19
pandemic, industry observers predict, because the crisis has proved
renewable energy is cheaper for consumers and a safer bet for investors.
A long-term shift away from dirty fossil fuels has accelerated during
the lockdown, bringing forward power plant closures in several countries
and providing new evidence that humanity’s coal use may finally have
peaked after more than 200 years.
That makes the worst-case climate scenarios less likely, because they
are based on a continued expansion of coal for the rest of the century.
Even before the pandemic, the industry was under pressure due to
heightened climate activism, divestment campaigns and cheap
alternatives. The lockdown has exposed its frailties even further,
wiping billions from the market valuations of the world’s biggest coal
miners."
Via Glyn Moody, who wrote "good news for a change"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://www.xanadu.com.au/ Chief Scientist, Xanadu
http://www.glasswings.com.au/ Partner, Glass Wings
http://www.sericyb.com.au/ Manager, Serious Cybernetics
