Ironically by increasing the amount of particulate matter in the air, the temperatures that the Climatists make such an issue of may well reduce.

by Tyler Durden on Zero Hedge

In the United States, coal consumption hit an all-time high in 2013, and soon after most every Wall Street bank and liberal activist declared coal as dead.

Still, coal energy was the dominant form of energy in the United States until 2016, and this year global coal consumption is set to reach 2013’s record levels.

In February of this year, Central Appalachian coal production hit a two-year high. Now the price of coal is rising to record levels in the United States and across the world.

Sounds like a tremendous amount of activity for an industry that has been declared dead.

What gives?

First off, let’s be honest, fossil fuels still account for much of America’s energy. According to the EIA’s Monthly Energy Review: “Fossil fuels—petroleum, natural gas, and coal—accounted for 79 percent of the 97 quadrillion British thermal units (quads) of primary energy consumption in the United States during 2021. About 21 percent of U.S. primary energy consumption in 2021 came from fuel sources other than fossil fuels, such as renewables and nuclear.”

In other words, fossil fuels made up nearly 80 percent of all energy produced in America in 2021.

Carbon Emissions Curbs Take a Backseat

Earlier this month CNBC reported on the continued coal consumption and price increases happening in domestic and global markets, stating: “coal prices are soaring and global coal consumption is expected to return to record levels reached almost 10 years ago as the global energy supply crunch continues. While investors in coal stocks are having a field day thanks to high coal prices, curbs on carbon emissions are taking a backseat as markets and governments scramble to stock up on traditional energy supply amid bottlenecks caused by the Ukraine war.”

At the moment there are a number of issues at play, ranging from the need to ramp up domestic supply for domestic energy security, to a years-long slowdown in domestic and international production, and now lingering supply issues from the Russian-Ukrainian war.

The ripple effect is being felt worldwide. International coal prices are also skyrocketing.

Mining and metals expert Pete O’Connor from Australian investment bank Shaw & Partners recently commented on the tight coal market and price increases seen across the globe, stating: “And supply [of coal] is tight. Why? Because nobody’s building capacity and markets will remain tight given the weather and Covid. So that market will stay higher for longer, probably well into the 2023 calendar year.”

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