You may not realize it, but the coal industry plays a large part in the U.S. economy.
One major way coal affects the economy is through electricity. The majority of America’s electricity comes from coal. So when coal prices are low, like they are right now, electricity is cheaper and the lower prices spur economic growth.
Electricity is a crucial part of American life. In fact, it is a $200 billion a year commodity, making it the largest commodity in the United States.
When the prices for large commodities, like electricity, stay low or go down, inflation stays low. So, commodity price fluctuations prove to be strong economic indicators.
The lower electric rates from low coal prices can affect inflation rates now and in the future. And low interest rates can help protect the savings and investments of millions of Americans.
In addition, new technology is linked to electricity usage and thus the economy. The increasing purchase and use of technological advances, like computers, cell phones and personal data organizers, greatly increases consumption of electricity from coal. Therefore, when consumers purchase these items, they drive the...
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