ENB Pub Note: While President Trump’s remarks are around coal, he says, “Nothing can destroy coal. Not the weather, not a bomb. It’s a great backup.” The topic around the President’s policies and comments sheds light on the fact that low-cost energy is critical for economic success. Germany is finding out the hard way that regimes change when economies fail. And the Green Energy policies have caused the deindustrialization in Germany and much of the EU. The UK, New York, and California are not far behind.
In classic Trump fashion, the President declared at the World Economic Forum in Davos, “Nothing can destroy coal. Not the weather, not a bomb. It’s a great backup.”
These words, delivered with signature bravado, sent a warm glow through U.S. coal producers—along with a noticeable bump in their stock prices. Peabody Energy Corp. surged over 7%, Core Natural Resources Inc. climbed nearly 3%, and the coal subsector index shot up by over 4%.
For an industry that’s been left out in the cold in recent years, the moment was nothing short of a resurrection.
Trump’s stance on coal isn’t new, but let’s be honest, it’s been sitting in the back seat as oil and gas steal the energy spotlight. Yet, this fresh endorsement has reminded not just Davos but the world that coal isn’t just yesterday’s energy—at least not in Trump’s America. In his first-day-in-office executive order, President Trump declared a national energy emergency, tearing down regulatory barriers and throwing a lifeline to fossil fuels.
Oil and gas are front and center, but coal isn’t getting overlooked entirely, securing the equivalent of a wink and a “we’ve got your back.”
The President’s message, delivered by video at Davos, is this: dominance is the goal, and no stone—or coal seam—will be left unturned. Trump’s sweeping policies aim to make U.S. energy production not just robust but untouchable. Federal lands and waters are open for exploration, infrastructure projects will be fast-tracked, and bureaucratic red tape will be shredded with glee.
Critics may clutch their pearls over coal’s carbon footprint, but Trump isn’t sweating it. To him, “clean coal” is “very strong as a backup.”
With the administration’s renewed focus on domestic energy security, coal won’t be going quietly into that good night. In a world where market share is the name of the game, the U.S. is making its energy play—and coal is still on the team.
By Julianne Geiger for Oilprice.com
Energy News Beat