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Even during the first quarter of 2011, when coal generated 45% of America's electricity, the possibility that just one year later coal would provide 36% of America's electricity would have been dismissed as ridiculous. But that is what happened, from the first quarter of 2011 to the first quarter of 2012, coal's market share fell from 45% to 36%, according to the latest EIA data at: www.eia.gov/forecasts/steo/pdf/steo_full.pdf.
Why did coal lose 9 percentage points or 20% of its market share in one year?
Natural gas prices in May 2012 were 44% lower than in May 2011, when they were already low. Resulting from the booming shale gas production, the stunning collapse in natural gas prices triggered substantial increases in natural gas generation and a displacement of coal by natural gas.
The shale gas boom has created a revolution in how America makes its electricity within 1 year.
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