Coal miners are bracing for more challenges in the coming years. Even right now, things stand as uncertain as they ever have been, according to the analysts. The climate debate isn’t what is killing the coal miners, either. Instead, they believe that an evolving industry is taking its toll on the industry, driving stock prices down, and creating unnecessary buzz around a selloff, which has been slowly taking place over the course of the last several weeks.
The latest challenge comes as the industry is being pushed to clean up after itself. Meanwhile, analysts warn that the coal mining companies might not be able to, or be willing to actually pay for those changes. This is something that many have wondered about for some time, but now is coming to fruition, as the cost to produce coal has been notoriously low. The low cost has been spectacular for users of coal energy. However, that low cost doesn’t translate well to all-around economic benefit.
Coal mining does significant damage to the surrounding territory. This territory is thus left without any methods for surviving and is pushed into the ground further, causing substantial damage to surrounding or peripheral industries. When the mining is completed, farming is left impossible, and it has become a national talking point.
Mitchell Maynard, a former miner pointed out that, “It’s just the times we are facing.” People are leaving the industry, there is less demand, and this translates to a worsening industry for those who call it their primary source of employment. It leaves a dark reality for the places where coal mining takes place, too.
Must Read: Coal Miners challenged by evolving industry
Experts warn that if the demand continues to fall off, and the questions remain about the actual industry as a whole, then those who currently run operations around the country might be pushed into a pit that can’t be fought out of. This fight might be something that would seem unnecessary, but at the same time is a significant piece of the puzzle when it comes to regulating the industry.
Part of the regulation that is necessary stems from the actual cleanup phase that takes place. As the cleanup takes place, the national and local governments are left scrambling to force regulation in terms of cleanup. The demand is something that pushes business from top to bottom – and at this point, it would appear as though demand is the one thing destroying the industry as a whole. One thing for absolute certain is that demand is crucial for everything in this space.