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January 19, 2010

Need to diversify — 01/21/10

Economy of Kentucky must reduce its dependency on coal

Anonymous The Daily Independent Tue Jan 19, 2010, 07:28 PM EST

While coal continues to fuel the economies of West Virginia and Kentucky, an environmental consulting firm has warned that coal in this region is not a growth industry, and the region needs to diversify its economy to compensate for steadily declining revenue from coal. It is wise advice.

A new report by Downstream Strategies of Morgantown said that coal production in the Central Appalachian states of Kentucky, West Virginia, Virginia and Tennessee has declined steadily for the past 12 years, and if the tend continues as expected, coal production in the four states could decline by another 50 percent in the next decade. The four states need to prepare for that decline by reducing their dependency on coal and investing in new technologies like wind, solar and hydro power that focus on renewable energy.

The study was written by Downstream President Evan Hansen and Rory McIlmoil, a former community activist with Coal River Mountain Watch of Whitesville, W.Va.

While one may quibble about the accuracy of Downstream’s prediction regarding coal, there is no question that coal has fewer and fewer friends in Washington, D.C., particularly among members of Congress and scientists who contend coal-fired power plants are a major source of the greenhouse gases that are causing climate change. There are some in Congress who would like to ban the construction of all new coal-fired power plants.

For now, that’s not practical, and we’re convinced that coal will continue to be a major source of energy in the U.S. for decades to come while at the same time continuing to decline in importance.

Fortunately, Kentucky legislators like House Majority Leader Rocky Adkins, D-Sandy Hook, recognize the importance of developing alternative sources of energy in Kentucky, and Adkins has led the way in sponsoring legislation to encourage the development of alternative energy in the state. Laws he has sponsored have led to the development of two companies in Greenup County that are using grasses to supplement coal in producing electricity.

Adkins, who has spent his entire adult life in the coal industry, is not about to abandon his support for coal, but he is smart enough to recognize that the state cannot afford to be too reliant on coal. Just as former tobacco farmers have been forced to find new crops to make up for the loss in tobacco income, Kentucky is going to have to diversify its economy to make up for the loss in coal revenue.

It’s the smart thing to do. A diversified economy is the best way to offset the peaks and valleys that always occur in the economy.

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Economy of Kentucky must reduce its dependency on coal

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