Many in the gas industry have come to see bad news for coal as good news for gas. If so, gas should be in great shape. The already limping global coal industry has gone into financial free fall, to devastating effect. Few expect coal to ever fully recover. Low natural gas prices have been a big part of the cause, but the effects have not included appreciable price or demand relief for the gas industry itself. How is that possible? The explanation seems to lie in a combination of slow electricity demand growth and rapid expansion in nonfossil fuel electricity output that many see as the wave of the future. The entire bad-for-coal, good-for-gas assumption may need rethinking.
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