A proposed bid on the leasing for a large chunk of coal in Wyoming and Montana has fallen short, causing a postponement in the sale and hopefully a waning interest in the fossil fuel industry.
Federal officials postponed the sale last month after the only bidder, Navajo Transitional Energy Company, offered what many considered a lowball bid of $186,000 for 167 million tons of federal coal in Montana, according to WyoFile. The company was also interested in a bid on a lease in Wyoming.
The Bureau of Land Management and the Interior Department are still reviewing the company's offer, with a new date expected for the Wyoming sale.
Experts told the outlet that the low-money offer is the result of not only cheap natural gas but also the increasing efficiency of wind and solar power.
"It tells you that there's no competition for that coal in the ground, and it's not worth very much money," Institute for Energy Economics and Financial Analysis Energy Data Analyst Seth Feaster told WyoFile.
The outlet reported that the coal production in Wyoming has shrunk by more than half since its height in the mid-2000s. Wyoming is the largest coal-producing state in the U.S., and 90% of the state's energy comes from the fossil fuel, per the Wyoming Energy Authority (WEA).
Perk up the winter blues with natural, hemp-derived gummies Camino's hemp-derived gummies naturally support balance and recovery without disrupting your routine, so you can enjoy reliable, consistent dosing without guesswork or habit-forming ingredients. Flavors like sparkling pear for social events and tropical-burst for recovery deliver a sophisticated, elevated taste experience — and orchard peach for balance offers everyday support for managing stress while staying clear-headed and elevated.
Learn more → |
There seems to be a push from the current administration to revitalize the coal industry, in part due to the energy demands of artificial intelligence and other computing needs. Which is unfortunate because coal and other fossil fuels are the primary drivers of planet-heating gas pollution, accounting for about 68% of greenhouse gases and 90% of all carbon dioxide pollution, according to the United Nations.
These gases trap heat, which alters the climate, increasing temperatures and driving extreme weather events and other changes in environments around the world. They also contribute to air pollution, which can cause health issues like asthma, cancer, heart disease, and premature death.
Despite the support of federal interests, coal isn't the only energy source in Wyoming. Wind energy is the second-largest energy producer in the state, according to the WEA, and is the fastest-growing renewable energy sector.
As Feaster told WyoFile, the weak sale offer "points to the fundamental, structural decline the coal industry is facing — for thermal coal — and that story hasn't been reversed, despite all the things that they're talking about."
TCD Picks » Upway Spotlight
💡Upway makes it easy to find discounts of up to 60% on premium e-bike brands
|
What's the biggest thing stopping you from going solar? Click your choice to see results and speak your mind. |
The cost 💵 
💰Get TCD's free newsletters for easy tips to save more, waste less, and make smarter choices — and earn up to $5,000 toward clean upgrades in TCD's exclusive Rewards Club.
Cool Picks
