2015 is shaping up to be an awful year for the coal industry

2015 is shaping up to be a fateful year for the coal industry.

After coal prices tumbled from their highs in 2011, the industry hit a rough patch. Years of buildup in mining capacity hit the markets at the same time, sending prices crashing. By the beginning of 2014, things were looking pretty grim. But optimists hoped it would be merely temporary; a supply glut that would ease once demand picked up.

However, demand has not been nearly as strong as expected. The US has been moving away from coal for a few years now, with cheap natural gas, more renewables, and energy efficiency.

China’s economic growth slowed a bit, but its efforts at reining air pollution have gone a long way at reducing coal demand. In fact, China may have already hit a peak in its coal consumption, which would be a shocking development considering the country was aiming to hit its peak no later than 2020.

http://www.businessinsider.com/2015-is-shaping-up-to-be-an-awful-year-for-the-coal-industry-2015-5