Coal production, loadings down in first quarter - WTRF 7 News Sports Weather - Wheeling Steubenville

Coal production, loadings down in first quarter

Posted: Updated:
  • EnergyEnergyMore>>

  • Many WV coal counties losing revenue

    Many WV coal counties losing revenue

    Monday, August 8 2016 10:15 AM EDT2016-08-08 14:15:05 GMT

    As Appalachian coal production continues its drastic decline, West Virginia’s coal-producing counties are  not only losing people as lifelong residents are forced to flee their homes in order to find work, but in many cases, they’re also relinquishing millions of dollars from their budgets.

    As Appalachian coal production continues its drastic decline, West Virginia’s coal-producing counties are  not only losing people as lifelong residents are forced to flee their homes in order to find work, but in many cases, they’re also relinquishing millions of dollars from their budgets.

As coal mining companies and coal hauling companies prepare to release their financial results for the first quarter, one thing is clear: Both industries are down this year.

According to figures released by the Energy Information Administration, West Virginia's coal production was down about 6 percent in the first quarter compared with last year. Overall, Appalachian production was down 7.2 percent.

The state's two major railroads have reported reduced shipments in the first quarter. CSX says its carloads were down 16.3 percent in the first quarter compared to 2012, and they were down about 25 percent from two years ago.

Norfolk Southern's numbers are less dramatic, with a drop in carloads of 1.8 percent compared with 2012 and 15.4 percent compared with 2011.

CSX will release its first quarter financial results on April 17. Norfolk Southern releases its results on April 23.

For the 52-week period that ended March 30, West Virginia production was down about 10.2 percent, according to the EIA. Kentucky's production fell 17.9 percent, Pennsylvania's 7.2 percent, Virginia's 15.5 percent and overall Appalachian production declined 12.4 percent.

 

Powered by Frankly