I am a dedicated Republican and my wife and I are long-time Exxon stockholders. I have great faith in the future of oil and gas. However, I also have faith in coal. Tillerson’s voice for suppressing fossil fuels is being supported, moreover, by the other Big Oil companies—who may feel a special interest in shifting U.S. power plants from coal to what is increasingly “their” shale gas.
The world has enormous supplies of coal and it has long-term value. Much of that coal is in the United States. Even better, the citizens of many developing countries, yearning urgently for First World lifestyle benefits, also have coal. There are big deposits in China, India, South Africa, Indonesia, and Kazakhstan to name a few. Unfortunately, the world’s bankers refuse to lend money for Third World coal-powered electricity because of Green opposition.
The coal-fired plants being built today are funded by loans from China. Moreover, the Chinese just built a new super-clean coal-fired power plant.Read more at TownHall