A main misunderstanding fuel is Recently sued This made headlines. The Texas Attorney General and 10 other GOP Attorney generals have accused some of the country’s largest asset managers of “collision” to damage the coal companies, causing a completely incorrect claim that coal decline is the result of some coordinated political vengeance rather than simple, protesting market economics.
With joining the Department of Justice and Federal Trade Commission ConversationIn the last few decades, it is important to fly into details and consider market trends.
The simple reality is that coal fall in the United States did not begin with property managers or ESG (“Environment, Social and Governance”) investment policies. It began with the shell gas revolution decades ago, when faking technology removed an abundant, cheap and cleaner-reading option. US Energy Information Administration Data Show that US coal production in 2001 was 1.127 trillion small tons, but by 2020 the number decreased to 535 billion tons – its lowest level since 1965.
Natural gas excluded coal because it created economic meaning – low operating cost, low regulator burden and perhaps the most important, reduced environmental impact. Add the decline in the cost of renewal, and the decline of coal was not only unavoidable, it was estimated. These asset managers saw writing on the wall and adjusted their investment to combine their duties to their customers.
It is about economics, not ideology. Professional decisions, not politics.
Electricity utilities, manufacturers and even global markets have decided on the basis of price, efficiency and reliability. Coal declined in both public and private coal companies. Coal companies are themselves noted Precious annual reports with the Securities and Exchange Commission declines. Capital flows to create a competitive advantage, not political talk points.
These lawyers normally try to frame as “coal collusion”, in fact, a textbook for example follows a textbook example and direction of the industry.
Asset managers have a legal duty for their customers to evaluate long -term risks and returns. When coal projects face rapidly uncertain demand, selection is a prudent investment to limit the headwind and operating instability, exposure. trial Note themselves that coal production increased in 2021 (incrementally), believed to be the first year of “conspiracy”. It further reflects the incompatibility of this case, questioning whether this case is really about coal, or to make a weapon a weapon – a dangerous example to set.
We should be honest about what is happening with coal – and more widely for energy. Instead of distorting reality for short -term political gains, let us focus on developing solutions that respect our economic system, support innovation and ensure energy security.
The real conversation that we should have is about ensuring energy abundance in every way. Let’s talk about accelerating nuclear power, cleaners strengthen permission for domestic production, investing in flexible grids infrastructure, and maintaining American leadership in the next generation energy technologies. In fact, allowing “all the above” energy strategy enables investment in diverse, reliable and safe energy sources.
Climate, energy and market decisions are complicated, and are connected among themselves. They deserve careful debate. This is the time to resume the conversation on practicality and opportunity – not biased politics.
We all should care about America’s energy future, and to do so, we have to stop showing market development. The decline of coal in the United States is simply capitalism that actually conservatives have always trusted it: allocate to adaptation and allocated capital where it serves development, stability and prosperity.
Benji is the founder and CEO of Backer Nature is nonpartisonHe also acts as an executive chairman US protection alliance And is the best selling writer “The Conservative Environmentist: Common Sense Solutions for a Sustainable Future.”
