Posted on 10/05/2021 11:49:53 AM PDT by george76
With coal demand increasing across the planet, the supply tightness has seen European coal prices follow the global appreciation trend.
The recent allure of coal also showcases the deficiencies of the carbon pricing mechanism.
The current coal demand surge should force the European Union to reconsider its position on coal.
As European gas prices have continued their surge throughout the past couple of weeks, the role and importance of coal has sparked a new wave of discussion across the continent.
...
Europe’s coal exports have been hovering around the 12 million tons per month mark for three months already, moving back to levels last seen in Q4 2019. With coal demand increasing across the planet, the supply tightness has seen European coal prices follow the global appreciation trend – as of end-September, API2 Rotterdam coal futures have already breached the $230 per metric tonne threshold, up $80 per metric tonne in September alone
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Judging by the public utterances of Frans Timmermans, European Commissioner for Climate Action, Brussels sees no future in coal and is hoping for a gradual disappearance of it, stating there will not be any significant mining industry in Europe beyond 2040. The current coal demand surge should force the European Union to reconsider its position on coal ...
it could still help alleviate energy crunches across Europe when the situation demands it. As things stand today, the upcoming four years would see at least seven countries phasing out coal: Portugal (2021), France (2022), UK (2024), Hungary, Italy, Ireland and Greece (all 2025). As Europe has seen nine consecutive year-on-year increases in aggregate coal burns, perhaps more switching flexibility and less bans could still be the way forward.
(Excerpt) Read more at oilprice.com ...
My renter works for Consol. They are working 24/7 and paying retired miners insane sign on bonuses to return to work.
He said he will make enough this year double and triple overtime wages to buy the new home they were saving up to buy.
Coal is fickle though. Next year if we have moderate summer and winter he will be laid off.
The coal business is either feast or famine.
The sky-high gas prices in Europe are forcing more utilities to turn to coal ahead of the winter heating season...
Goldman Sachs nearly doubled its price projection for coal prices in Asia.
https://freerepublic.com/focus/f-news/3998044/posts
It could be a bad winter for the EU
CEIX is a good stock on a bull run.
Coal is used to make electricity. How hard is that to understand. Look around.....Everything in my home is run by electricity.
Greta will not be pleased. LOL
The UK fired up an old coal power plant to meet its electricity needs.. as the wind mills can not keep up.
https://freerepublic.com/focus/f-news/3995483/posts
Coal is the best source of energy.
The whole industrial revolution was based on coal. I was thinking about it - the countries which grew rich in 1800, and early 1900 had one thing in common - lots of coal.
Especially the USA.
USA is a “Saudi Arabia of coal”.
WE have like 70% of known world deposits of coal. And, on the average, of the highest quality.
And, we cannot use it. What an idiocy!
It’s almost as if God put coal all over the world to keep us warm and electrified. Funny how the sheisse got real when the bill came due for the green pipe dream
Especially, if we switch to electric cars.
That will double the electricity demand. We would need to cover like 20% of the uSA with solar panels to generate this.
And even when you do it yourself, it's not a 100% solution.
Europe: Green when it’s convenient
50 years of failed doomsday, eco-pocalyptic predictions; the so-called ‘experts’ are 0-50
Knew I should have kept my Cheasapeake and Ohio stock. I spent a couple of weeks working at the VASCIC in Newport News. Out my window, I could see huge piles of coal, with fire hoses playing on them 24/7 to keep the dust down. The cars from the C&O would dump their loads on the pile, and the conveyors would load it onto ships bound for Germany, before the Energiewende “miracle”.
“It’s almost as if God put coal all over the world to keep us warm “
And also warmed by that cozy blanket of CO2.
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