The Economic and Social Costs of Coal Mine Development (Boom and Bust Cycle)
The development of coal towns during booms and their subsequent decline during busts often leads to significant economic and social downsides. These cycles are largely driven by fluctuations in coal demand, prices, and the shift to alternative energy sources. Key economic downsides include:
1. Economic Dependency and Vulnerability
2. Job Losses and Unemployment
3. Decline in Property Values
4. Reduced Public Revenue
5. Economic Stagnation
6. Environmental Cleanup Costs
7. Debt and Financial Instability
8. Social Disparities
The School of Public Policy Publications (University of Calgary) published in November 2021 a Research Paper “A MULTIPLE ACCOUNT BENEFIT-COST ANALYSIS OF COAL MINING IN ALBERTA”. They summarized:
https://www.policyschool.ca/wp-conte...nter-et-al.pdf
The Pembina Institute published the brochure in February 2008. “Boom to Bust Social and Cultural Impacts of the Mining Cycle”:
https://www.pembina.org/reports/boombust-final.pdf
[full disclosure - I am on the Board of the Crowsnest Conservation Society]