After years of environmental acts dying in Congress, President Obama is taking action by finally outlining a green plan for the U.S. Calling a press event at Georgetown University earlier this week, Obama discussed his goals: reducing carbon pollution, promoting green energy, and cooperating with both developed and emerging economies to ensure global involvement. Many on the Hill have already objected to Obama’s goals and his use of executive orders to avoid Congressional approval, saying that the American worker will lose in this plan [for more commodity news and analysis subscribe to our free newsletter].
Coal has been mined across the world since the Bronze Age, becoming an important commodity during Roman times, especially in what is today Great Britain. However, the true Golden Age of coal began with the start of the Industrial Revolution in Europe and North America in the late 1700′s and early 1800′s. Coal was cheaper than wood for fuel and nearly as abundant, helping to power steam engines across the continent and get the world’s economy going into the industrial age. After the steam engine, coal became an important fuel source for the modern electric utility company, which can trace its start back to the early 1880′s. Once again, coal was an abundant fuel source that was easy to burn and turn into electricity, ensuring that the mineral became one of the most popular ways for mankind to power their homes and businesses.