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The price of coal has risen due to a surge in global demand. Still, signs point toward a continued decline for the U.S. coal sector.
Traditionally, when coal prices spike, many plants switch to natural gas. But with natural gas prices at record highs too, some power providers are at a loss.
The coal industry’s decline over the last decade has made scaling up tough, even as prices surge.
While coal is having a resurgence as a fuel source, the spike in its use may not last.
Russia supplies more of the EU’s oil and gas than it does coal.
Coal producers are reluctant to ramp up production because it takes a lot of money. And who knows how long demand will last?
Instead, they’ll put about $18 billion a year into renewable energy projects.
Coal, far from being phased out in many countries, is a stand-in for natural gas — which is also very expensive right now.
China has more than enough coal underground to service the country’s needs.
Germany has pledged to reach net-zero carbon emissions by 2045. Is that achievable?