Consol locks in contracts for next year’s coal
Wednesday, December 16, 2015
Low coal prices and decreased demand have affected Consol Energy Inc., but the company has contracts to sell some of its coal next year that’s produced in southwestern Pennsylvania.
Pittsburgh Business Times reports that the contracts are for power plants in the Southeast and Midwest. Consol nearly reached its goal of 26 million tons of coal for next year.
According to the newspaper, the prices for the coal were between $50 and $55 per ton.
Via: Pittsburgh Business Times > Consol announces long-term deals for coal
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.