A third of the coal fleet in the U.S. is going to be retired in the next few years. In the U.S. it’s clear that coal is going to bow to combined-cycle natural gas when you look at new installations.
There’s trillions of dollars of capital invested in the coal-generation fleet throughout the U.S. I don’t see a lot of new capital going into coal in the U.S. In the long term, you’ve got to create hybrid solutions where you have solar and wind side by side with some type of centralized power generation that can be turned up and turned down. Gas will grow at the expense of coal.