ST. LOUIS, Feb. 4, 2013 /PRNewswire/ -- Peabody Energy Chairman and Chief Executive Officer Gregory H. Boyce commented this evening that the disruption in New Orleans offered a convincing visual demonstration to counter those who have envisioned a world without coal.
"Coal is the world's fastest growing major fuel and provides more electricity than any other energy source," said Boyce. "Without coal, you might as well turn off half the lights not just for our favorite games but also for our cities, shops, factories and homes."
While some have unrealistically called for a phasing out of coal-fueled electricity, Boyce noted that such projections ignore the fact that coal fuels the world's best economies and is projected to become the world's largest energy source as early as this year.
Boyce has advanced The Peabody Plan, which would:
- Eliminate energy poverty by ensuring that half of all new generation is fueled by coal;
- Replace older coal plants with advanced new technologies;
- Develop at least 100 major carbon capture, use and sequestration projects around the world;
- Develop significant coal-to-gas, coal-to-chemicals and coal-to-liquids projects globally in the next decade; and
- Commercialize the next generation of technologies to achieve near-zero emissions.
The power outage in New Orleans is an echo of an award-winning advertising campaign Peabody Energy has implemented at sporting events, where the power temporarily goes out on stadium scoreboards before fans are reminded that coal fuels more power than any other fuel.
Peabody Energy is the world's largest private-sector coal company and a global leader in sustainable mining and clean coal solutions. The company serves metallurgical and thermal coal customers in more than 25 countries on six continents. For further information, go to PeabodyEnergy.com and CoalCanDoThat.com.
SOURCE Peabody Energy