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While natural gas plants are considered more environmentally friendly than their coal counterparts, the report notes natural gas production is linked to the emission of methane — the main component of natural gas — which is a “potent climate change pollutant.”
Citigroup said its credit exposure to coal mining had “declined materially” since 2011 and that the trend would continue into the future.
Even when U.S. natural gas is super-chilled into a liquid form, shipped by tanker around the globe, and burned to generate electricity, it producers fewer greenhouse gas emissions than the coal it often displaces, according to an industry analysis released Monday.
Alpha’s bankruptcy comes the same day as President Barack Obama’s Environmental Protection Agency plans to issue measures that force states and utilities to use less coal and more wind, solar and gas power.
While coal is expected to lose market share, federal projects show that coal-fired generation capacity is expected to remain largely unchanged through 2024.
The “Benchmarking Air Emissions” report, which examined the nation’s 100 largest electric power producers, comes in advance of the final proposal of the so-called Clean Power Plan from the the Environmental Protection Agency to reduce greenhouse gas emissions from existing power plants.
Power companies have been installing more natural gas turbines at plants, with new regulations that restrict the emission of greenhouse gasses has added new pressure to make the switch.
The high court’s ruling undermined Obama administration regulations targeting mercury and other hazardous air pollutants — a different set of regulations from the greenhouse gas limits that Obama is counting on to slow the effects of global warming.
The dwindling volumes for coal, oil and grain are magnified in contrast with last year’s surges. Petroleum carloads, chiefly crude, are down 0.6 after 2014’s 13 percent increase.
“It’s clear that the subject isn’t viewed in the same way on both sides of the Atlantic,” Total SA Chief Executive Officer Patrick Pouyanne, one of the signatories, said on Monday at a press conference in Paris. “We are working with those who come forward.”