What is the current landscape of the coal industry?
Mike Kourianos | Mayor | Price City
After the closure of one coal-fired power plant in Carbon County, we lost our tax revenue and mineral money. We used to thrive on that revenue, but now the mineral is in Emery County and Sanpete County. The portals might be in Carbon County, but the mineral itself is in those other two counties, so they’re getting those revenues. Our community feels that loss. Our commissioners have had to raise the taxes on our citizens by 700 percent. Those commissioners went through a lot of turmoil, but it was something that had to be done because mining is not prevalent.
Emily Arthun | CEO | American Coal Council
Since our president said he wants to end coal—coal miners, jobs, energy—there are policymakers that do not like coal, and they’re trying everything they can to end the use of coal. We need to save coal because the United States is on a trajectory of energy poverty. We have enjoyed economic growth because of our fossil fuels, particularly coal, and what coal brings us—which is not only energy. We’re on a timeline that is unachievable for green energy. We do not have enough critical minerals mined today in the world, let alone in the United States. We’re not only fighting fossil fuels; we’re fighting our lifestyle and the way we conduct business.
Alan Hall | CEO | Blue Sky Energy
We’re evolving coal. Our belief is that mother coal is good, and it’s been condemned for a number of reasons that we understand, but coal is so full of other components that we need every day. We’ll transition over eventually to cleaner types of coal, but we’re going to need to use some coal/carbon products every day. If we don’t, we’re in trouble as a country in order to just meet basic needs.
Eric Hall | VP, Sales | Blue Sky Energy
This is not your grandfather’s coal. We are re-imagining coal. We are reinventing what coal can do beyond just burning and supplying power. Coal touches every part of our lives: the bottles we drink from, the cars we drive, the roads we drive on. Coal is everywhere.
Spencer Loveless | Founder, CEO | Merit3D
We need to transition and evolve. We’re going to push this as hard as we can to make it go through, but what’s the backup plan? How do we transition southeast Utah to a tech manufacturing economy and challenge the supply chains we’re currently dependent on? We are focused on advanced manufacturing, additive manufacturing, 3D printing and evolving as these challenges come up.
Kori Ann Edwards | Managing Director | Utah Governor’s Office of Economic Opportunity
We need to fight for coal. There’s a whole evolution going on around just our critical minerals and our core minerals. Utah has 42 of the 51 critical minerals the world needs. We are partnering with Nevada, Idaho and Colorado because we’re such critical and rich mineral states. We also need to look at what we can do to diversify our counties and bring in new industries. It is important to look at the situation from several different sectors to make sure those communities are thriving and preparing for the future.
What is the role of capital in the coal industry?
Lyle Pearson | Managing Director | Rainstar Capital Group
I’m very passionate about this and the capital we have for this project in the long term. We’re looking roughly at a five-year performer, worst case, and providing the capital so you essentially can grow and meet the needs and expectations of what Alan’s put together. The problem is becoming the opportunity.