Blankenship, making a contrarian bet that the supply of low-sulfur coal will fall even faster than demand as more eastern miners fold up shop, has bought mines in West Virginia.
What it does have (and must have, as a starting point for the diamonds) is lots of coal: dirty, high-sulfur-content coal, which feeds 75% of the country's primary energy requirements.
Natural gas power emits merely 20% of the carbon monoxide of coal power, 20% of the nitrogen oxides of coal power, less than 1% of the sulfur dioxide of coal power, less than 1% of the particulate matter of coal power and less than 1% of the mercury of coal power.
Finally, CONSOL Energy and Peabody Energy are big beneficiaries of the convergence of high sulfur and low coal pricing.
He soon broke ranks with utility executives by supporting a cap-and-trade system for sulfur dioxide and other coal-plant pollutants.
The sulfur counteracts the carbon, allowing coal-reliant nations to maintain carbon emission levels as long as sulfur emissions keep pace.
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Further, the coal is low on sulfur and fly ash content, which increases its attractiveness.
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China is particularly struggling to curb what are known as secondary pollutants, formed when primary pollutants such as emitted sulfur dioxide and nitrogen oxides, from coal burning and other sources undergo reactions in the atmosphere.
Due to costs associated with reducing sulfur emissions resulting from stricter pollution regulations, subbituminous coal is actually more economical for energy generation.
Power plants that burn coal produce more than 90 times as much sulfur dioxide, five times as much nitrogen oxide and twice as much carbon dioxide as those that run on natural gas, according to the Government Accountability Office, the regulatory arm of Congress.
The 600-megawatt Indiana plant will convert coal into turbine-ready gas while stripping out pollutants nitrogen and sulfur.
Chastened, in 1995 Ertel joined the then-new pollution desk at Natsource, where he sold sulfur dioxide credits in a market created by tough U.S. regulations on coal-burning utilities.
Chastened, in 1995 Ertel joined the then new pollution desk at Natsource, where he sold sulfur dioxide credits in a market created by tough U.S. regulations on coal-burning utilities.
After speaking with a few experts, it seems clear what needs to be done: China has to reduce its reliance on coal, increase renewable energy, regulate the amount of smog-causing sulfur that can go into its diesel fuel and increase vehicle efficiency.
Two-thirds of the price was subsidized by the city, which estimates that it has replaced almost a hundred thousand coal stoves since the project began, five years ago, cutting down on sulfur and dust emissions.
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