58 comments on Are Reserves of the Largest US Coal Field Overstated by 50%?
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58 comments on Are Reserves of the Largest US Coal Field Overstated by 50%?
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I notice this EIA graph of weekly spot coal prices. Powder Basin River coal, which is the type that we are looking at here, has been relatively constant in price over the long term, while others have varied a lot. PBR coal is lower in energy value than most of the other kinds shown (8,800 Btu vs 11,700Btu to 13,000 Btu), but based solely on heating value, it looks like the price could easily go higher, if it were in short supply.
If I remember correctly, when coal is used for electric power plants, the big cost involved is the diesel for transporting the coal. This cost is far higher than the cost of the coal itself. Thus, it seems like if there were a coal shortage, the coal price could quite easily increase, without having a huge impact on electricity prices. If this should happen, the study would seem to indicate that coal reserves could be higher.
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Neat graph, Gail. I'm in West Virginia, and I didn't realize that the coal here was more "energetic." Looking at the prices, I can see why diesel is the biggest expense. Lots of trucks full of the black rocks, and I often have to stop at railroad crossings for trains laden with 100 or more coal-filled cars. Of course, the coal doesn't have far to travel for our electric needs, thus our electricity is relatively cheap and the state is able to export a lot of it.
Interesting sidenote...coal severance taxes are one of the big reasons West Virginia is one of those 4 out of 50 states that do not project a budget deficit over the next year or two. That could change with the recent price falls, though.