Insight

Sam Batkins

It’s no surprise that the coal industry has received plenty of regulatory attention and its decline has been covered extensively in the press. Consider that in the “War on Coal,” EPA and the Department of Interior have combined to impose $312 billion in costs and more than 30 million paperwork burden hours. All of these burdens aren’t directed solely at the coal industry, but the Clean Power Plan, coal residuals rule, the MATS measure, and Cross-State Air Pollution Rule will impose nearly $20 billion in annual burdens on the industry. The sharp drop in natural gas prices also plays a role, declining 70 percent since 2008. However, the market cap of four of the largest coal companies was more than $35 billion in 2011. After a flurry of regulation, it’s now a smudge on the graph below, a decline of 99 percent. Behold, the steep decline of coal in one chart: