Wither coal (despite all attempts to the contrary)? What's next?
OCTOBER 18, 2017
The important corollary to the Hotelling rule regarding transition to alternative fuel sources is: As the price of the depletable resource rises and/or the price of the alternative resource decreases, incentives are created to switch between the resources. As old coal plants continue to retire and be replaced by cheaper renewables and natural gas, their share of the US electricity supply will continue to plummet, and coal will become a fossil fuel in every sense of the word.