Coal Industry Praises Outcome of U.S. Presidential Election

November 9, 2016

3 Min Read
Coal Industry Praises Outcome of U.S. Presidential Election
U.S. president-elect Donald J. Trump speaking in 2011. Image courtesy of Flickr user Gage Skidmore

After the unexpected victory of U.S. president-elect Donald J. Trump on Election Day this year, some organizations within America’s coal industry released statements praising the outcome of the race, positing that Trump will be a more positive presence in the Oval Office for the country’s coal energy sector.

The post-election optimism among some coal industry players comes at a time when many American coal companies are grappling severe financial issues, including bankruptcy. A report released this summer by the U.S. Department of Energy said that coal production in America is at its lowest level in 35 years.

“With the world’s largest supply of coal and a rich mineral endowment, we have the resources the new administration and Congress will need to build a stronger economy and provide better jobs,” a National Mining Association (NMA) press release Wednesday said.

The trade organization representing the U.S. mining industry offered its congratulations on president-elect Trump’s victory and said their organization is looking forward to working with the new leader on a “wide range of issues of mutual interest.”

The American Coal Council (ACC), a nonprofit organization representing the interests of the country’s coal industry, issued a statement Wednesday congratulating president-elect Trump on his successful run for the nation’s highest office. The organization said that Trump “knows the strategic importance of energy in America” and hopes that the new leader will reduce the impact of government regulations and bureaucracy on the industry.

“The coal sector has been devastated by lower demand and job loss in recent years due to the mounting impact of regulations pointed squarely at our industry. These regulations have significantly increased the cost of coal for electricity generation and industrial use, making it less competitive against other fuels, and resulted in the closure of a large number of coal plants,” the organization’s chief executive officer Betsy Monseu said in a statement. “Rather than offer environmental benefits, regulatory streamlining, and business planning certainty, regulations have become about costs, administrative burdens, and lost jobs.”

Advocacy of coal power was a major component of President-elect Trump’s energy platform during his campaign, with the Republican pledging to “reduce and eliminate all barriers to responsible energy production” and the removal of President Barrack Obama’s “job-destroying” executive actions on energy.

A partnership of coal industry companies promoting the use of “clean coal,” the American Coalition for Clean Coal Electricity (ACCCE), also issued a statement Wednesday lauding Trump’s positions on energy and coal in particular.

“Today, America awakes to an opportunity to turn away from the costly regulations that have hamstrung our nation’s electric generation capabilities and limited our access to affordable and reliable power. We look forward to working with president-elect Donald Trump as he steps forward to leading this great country,” said ACCCE president and chief executive officer Mike Duncan in a statement.

Amid the post-election news, St. Louis-headquartered Arch Coal, which recently restructured its finances and emerged from bankruptcy this October, announced Wednesday that it had filed a third quarter 10-Q form with the U.S. Securities and Exchange Commission (SEC), documenting the results of the company’s efforts in light of its historical accounting basis, costs relating to reorganization relating to its bankruptcy, and pre-emergence interest expense.

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CORRECTION: (Nov. 10, 2016) An earlier version of this article incorrectly stated that the American Coal Council (ACC) was "a supporter of Republican’s run for the presidency throughout his campaign." The organization's chief executive officer Betsy Monseu said that the ACC "does not take positions on politiical candidates." Powder & Bulk Solids edited out the incorrect information. We apologize for this error.

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