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Reports of the death of coal have been greatly exaggerated. Demand has been bouncing back this year as the world economy picks up again, and some prices have hit their highest levels for more than a decade.
2022 could see rising carbon prices, greater distributed solar capacity, tighter supply chains for renewable energy and a double-digit market share for EVs.
And after the 12 months we’ve all just experienced, making bold predictions for the year ahead is more fraught than ever: nothing is off the table.
Cheap gas and weak power demand have driven coal’s share of US power generation to its lowest since the 19th century. They are also accelerating its long-term downtrend
Thermal coal prices have been hitting record highs in recent months, driven by the same forces that have stoked many other commodity markets this year
As businesses start to reopen in Europe and the US, fuel use has risen from its lows last month. But returning to pre-pandemic levels will take time.
The US administration has suggested possible restrictions on imports of Russian oil. “Self-sanctioning” is already starting to have an impact
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