"Coal company CEO: ‘Black is the new green.’"
Speaking to USA Today, Gregory Boyce, CEO of Peabody, the world’s largest coal company, “shrugged off any worries” about coal’s enormous greenhouse gas emissions or moves to make energy more environmentally friendly, declaring the U.S. would never move away from coal:
“It’s a good time to be Peabody,” says Boyce, an affable man who speaks in a confident baritone. “There’s not enough natural gas. There’s not enough renewables (such as wind and solar energy) to go around. So I’m not concerned that coal is going to disappear. For us not to use that resource, we are just shooting ourselves in the foot.” [...]
“There’s a perception out there that coal is dirty, and we have to change that,” he adds, noting that coal plants already have cut emissions of some pollutants and boosted efficiency to slash CO2 discharges. “Black is the new green.“
Though Peabody is swimming in green — with profits soaring so far this year to $290 million — it’s a lie to suggest coal is somehow clean. Burning coal “adds a significant amount of carbon dioxide to the atmosphere per unit of heat energy, more than does the combustion of other fossil fuels.” What’s more, though Boyce boasts of a $9 million investment into “clean coal” technology, he fails to note that the coal industry’s largest front group has vowed to pour $40 million into efforts to block climate change and alternative energy legislation.