Coal price up 188% YoY

Spot prices:
https://markets.businessinsider.com/commodities/coal-price

Global coal production is also rising:

India and China Coal Production Surging By 700M Tons Per Year: That’s Greater Than All U.S. Coal Output
www.realclearenergy.org/articles/2022/06/03/india_and_china_…
Adding the 700 million tons of new coal that China and India will be mining to the amount they are now producing leads to some staggering numbers. By the end of next year, China will be producing about 4.4 billion tons of coal per year and India will be mining about 1.2 billion tons. Add those together and you get 5.6 billion tons of coal, which is more than 9 times the amount of coal that will be mined in the U.S. this year [which is up 17%].

DB2

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India and China Coal Production Surging By 700M Tons Per Year

In case jaagu is reading, from the IEA last year:

Pathway to critical and formidable goal of net-zero emissions by 2050
www.iea.org/news/pathway-to-critical-and-formidable-goal-of-…
Climate pledges by governments to date – even if fully achieved – would fall well short of what is required to bring global energy-related carbon dioxide (CO2) emissions to net zero by 2050…

Building on the IEA’s unrivalled energy modelling tools and expertise, the Roadmap sets out more than 400 milestones to guide the global journey to net zero by 2050. These include, from today, no investment in new fossil fuel supply projects, and no further final investment decisions for new unabated coal plants.

DB2

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Building on the IEA’s unrivalled energy modelling tools and expertise, the Roadmap sets out more than 400 milestones to guide the global journey to net zero by 2050. These include, from today, no investment in new fossil fuel supply projects, and no further final investment decisions for new unabated coal plants.

This one seems quite obviously not possible … I mean just yesterday we witnessed a president of a major western nation excoriate oil companies for not investing enough in new fossil fuel supply! I think the people prefer lower energy costs over a … planet.

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This one seems quite obviously not possible … I mean just yesterday we witnessed a president of a major western nation excoriate oil companies for not investing enough in new fossil fuel supply!

To repeat the ‘iron law of climate policy’:
When policies on emissions reductions collide with policies focused on economic growth, economic growth will win out.

DB2

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This one seems quite obviously not possible … I mean just yesterday we witnessed a president of a major western nation excoriate oil companies for not investing enough in new fossil fuel supply!

Yah, that was somewhat awkward … not to mention the irony of … ?

Does anyone have a recipe for cooking crow?

Fortunately I won’t be able to testify today, my wife has agreed to let me purge a bunch of her vast amounts of stuff … that are stuffed in our spare bedroom and it will probably be 20 years again before I get another shot at it. }};-#

Tim

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