Obama "bankrupting" coal companies

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Certainly, he has reason to be happy about the numbers. Coal mining jobs have risen in the past year, an anomaly after years of decline. And it’s not the first time Trump has celebrated the apparent return of coal. Early in his presidency, he exaggerated that the country had “picked up 45,000 mining jobs in a very short period of time,” adding that he planned to do away with onerous regulation surrounding the industry. But Trump is celebrating far too soon. In reality, the industry added a much lesser 8,000 jobs in 2017, up about 1.6% from a year earlier, based on preliminary Bureau of Labor Statistics figures in December.

The industry has 50,500 positions in total. And the bounce in coal has little to do with the Trump administration itself—but rather market factors unlikely to have a repeat performance this year. “We take stock of coal market developments in 2017 and find that while U.S. production did recover slightly, it had nothing to do with a change in federal policy,” Rhodium Group analysts wrote in a recent note. James Stevenson, an analyst at IHS Markit, says the boost is largely due to 2017’s unseasonably cold weather and rising demand for coal from other nations. Cold weather drove up the price of natural gas—making coal look like a more attractive fuel option. Meanwhile, a synchronized economic recovery in 2017 led several countries to ramp up building projects—contributing to an increase in coal demand. The U.S.’ exports helped boost coal production in 2017 by 6% to 773 million short tons—though demand in the U.S. declined, according to data from the U.S. Energy Information Administration. 

If the industry is to add a significant number of jobs, say the 45,000 that Trump appears to think it has added, coal mines would have to continue opening. But it will be hard for companies to make that commitment. Mines are built to last about 20 years—a very long-term commitment considering a president’s term lasts four years, Daniels said.

Coal Mining Jobs up in Trump's First Year, But It Won't Last | Fortune