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Coal Is First Casualty of Energy Abundance

During the last presidential campaign, James Hansen of NASA's Goddard Institute took to the TV, railing against President Obama and his Republican challenger for not talking about climate change. (See this interview at the Current.

The market is doing some of the talk for them.

"Clean coal" does not exist, not at a price we can afford, but environmentalists aren't killing this industry. The market is doing it. Cheap natural gas is doing it, and increasingly cheap supplies of solar and wind energy are doing it. Efficiency is doing it, and business' recognition that there are, in fact, costs to carbon (regardless of the industry's propaganda) is doing it.

The value of coal reserves is declining, but those pushing high-price alternatives like Canadian "oil sands" best not laugh.

You're next.

At the time of publication, the author had no investments in companies mentioned here.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

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