Another big blow to the coal industry comes from cheap natural gas in North America. This is by far the cheapest fuel for power generation. Between early last year and the end of next year, coal-fired stations equivalent to more than a tenth of America’s power-generating capacity will close or be switched to gas.
European coal consumption is dropping too: In the European Union it fell by 4.7% overall, and in electricity generation by 4.2%, between 2008 and 2013, according to Carbon Tracker, a think-tank.