Coal power plants face $7.3 billion losses in Europe in 2019
Almost 80% of lignite and hard coal-fired generators will be unprofitable this year, a hit the industry is unlikely to survive without government help.
Maybe in better times, the staggering population of the millennial demographic would be a hurdle over which Big Oil could easily leap. But times are tough, and that isn’t our today.
The possible plant closure, which could cost around 2,000 jobs, is part of a global restructuring plan announced in September that could see CAT cutting as many as 10,000 jobs globally in the coming years.
The collapse of oil prices has ground shale drilling to a halt, but the one region where drilling is still active, and even increasing, is in West Texas.