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ST. LOUIS , Nov. 17, 2011 /PRNewswire/ -- Patriot Coal Corporation (NYSE:PCX - News) today announced the realignment of its operations management to strengthen oversight of key mine complexes in Appalachia and facilitate plans for expansion of captive production. Effective November 21 , the following management team will report directly to Bennett K. Hatfield , Executive Vice President & Chief Operating Officer:
- ·John R. Jones will join Patriot as Vice President, Operations – West Virginia South Region, including the Rocklick, Wells, Big Mountain and Paint Creek complexes.
- ·James N. Magro will serve as Senior Vice President, Operations – West Virginia North Region, including the Panther, Kanawha Eagle and Federal complexes.
- ·Michael D. Day will be Senior Vice President – Engineering and West Virginia Central Region Operations, with dual responsibilities for both the corporate engineering group and an operating region that includes the Logan County, Corridor G, Campbell 's Creek and Blue Creek complexes
- ·Lawrence J. Millburg will become Vice President, Operations – Kentucky Region, including the Bluegrass, Dodge Hill and Highland complexes
- ·Terry G. Hudson will continue in his current position as Vice President – Safety.
- · E. Kent Hartsog will continue in his current role as Vice President - Operations Support
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The Associated Press story about the anticipated decline of Central Appalachian coal production paints a bleak picture for the future of coal in that region. According to the article, coal production is expected to plummet in the near future, primarily due to depletion of mineable reserves.
The writer cites a 2010 report by Mcllmoil and Hansen of Downstream Strategies, an environmental consulting firm in Morgantown, W.Va., as well as other sources. As a geologist familiar with coal resources in Eastern Kentucky, I wanted to find out more about how Mcllmoil and Hansen arrived at these conclusions.
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International Energy Outlook 2011 (IEO2011) released today by the U.S. Energy Information Administration (EIA) presents updated projections for world energy markets through 2035. The IEO2011 Reference case projection does not incorporate prospective legislation or policies that might affect energy markets.
Worldwide energy consumption grows by 53 percent between 2008 and 2035 in the Reference case, with much of the increase driven by strong economic growth in the developing nations especially China and India. "China and India account for half of the projected increase in world energy use over the next 25 years. China alone, which only recently became the world's top energy consumer, is projected to use 68 percent more energy than the United States by 2035." said Acting EIA Administrator Howard Gruenspecht.
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Total coal stockpile levels at U.S. electric power plants were 139 million tons in August 2011—the lowest total level for August since 2006. Bituminous coal stockpiles declined the most, down 27% since August 2009. Increases in the spot price of Central Appalachian coal as well as some supply disruptions in the late spring of 2011 contributed to declining stock levels.
Coal stockpile levels typically decline during summer months as power plants burn through stocks to meet seasonal peak electric demand for air conditioning load. Stockpile levels have been depressed throughout 2011 compared to 2009 and 2010 levels. According to average monthly data, the spot price of Central Appalachian coal (a key benchmark for the price of Eastern bituminous coal) was up 18% since August 2010. Flooding in April and May disrupted some coal deliveries, especially in the Southeast, and likely played a role in the declining stock levels going into the summer of 2011.
"Days of burn," another measure of the disposition of coal stocks, dipped under 60 days by mid-year 2011 for the first time since 2008. The average number of days of burn held at electric power plants is a forward-looking estimate of coal supply, given a power plant's current stockpile and past consumption patterns. Mostly for reliability reasons, plant operators maintain stockpiles within certain ranges even though supply disruptions in excess of 60 days are relatively unlikely. Days of burn held generally rose in 2009 as a result of the reduced electricity demand associated with lower economic activity.
Source: U.S. Energy Information Administration, Electricity Monthly Update
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The Corridor G Regional Development Authority's 7th Annual Post Mine Land Use Forum is scheduled for Monday, November 14, 2011. Registration will begin at 8:30 a.m. The forum will conclude with lunch and a keynote address at approximately 12:30 p.m. To regisiter for the event, please click here or copy and paste the following address into your browser.
http://www.corridorgrda.com/
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