Coal Mining Industry Report

Paper Summary:

The paper discusses shifts and price elasticity of supply and demand, positive and negative externalities, wage inequality and monetary and fiscal policies and their impact on the coal mining industry. The paper predicts that coal production will likely rise while worker pay and employment in the coal mining industry will shrink in the next decade.

Outline:
Shifts and Price Elasticity of Supply and Demand
Positive and Negative Externalities
Wage Inequality
Monetary and Fiscal Policies
Summary and Conclusion

From the Paper:

"The coal mining industry in the United States is comprised of approximately 1,000 companies operating approximately 1,500 mines, with approximate combined annual revenue of $25 billion. Some of the larger producers are Peabody Energy, Arch Coal and Massey Energy. Over the past decade, the coal mining industry has become greatly consolidated and presently sixty-five percent of the market is owned by approximately ten companies with each company operating a single coalmine with the size of the mines varying a great deal. Larger operations produce over 1 million tons of coal annually. According to Hoover's website in the work entitled: "Industry Overview: Coal Mining" "Demand comes mainly from generators of electricity. Profitability depends on efficient operations, as the product is a commodity sold on the basis of price." (2008) "

Sample of Sources Used:

• Industry Overview: Coal Mining (2008) Hoovers Online available at: http://www.hoovers.com/coal-mining-/--ID__157--/freeuk-ind-fr-profile-basic.xhtml
• Bureau of Labor Statistics, U.S. Department of Labor, Career Guide to Industries, 2008-09 Edition, Mining , Available online at: http://www.bls.gov/oco/cg/cgs004.htm
• Leahy, Stephen (2007) Climate Change: U.S. Moving Backwards. Intermedia Net. Online available at: http://www.ipsnews.net/news.asp?idnews=39498
• World Steel Production Report (2007) ISSB Monthly World I & S Review December 2007. Online available at: http://www.steelonthenet.com/production.html

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