Author Topic: Coal is Back Due to Need of Energy Security  (Read 536 times)

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Offline Elderberry

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Coal is Back Due to Need of Energy Security
« on: November 03, 2022, 01:40:32 pm »
Legal Insurrection by Leslie Eastman November 3, 2022

“Who would have thought dirty ol’ coal would have been the best-performing equities in the last financial year? So far this financial year it’s also the best-performing sector.”

An intriguing article just ran in the Pittsburgh Post-Gazette, which had a title that began “Coal is Back” and a description of its positive impact on a local energy company.

    Despite a list of problems, ranging from roof falls to equipment breakdowns to uncooperative geology, Cecil Township-based Consol Energy Inc. is riding a wave of high coal prices and a global energy market that, at least for a short time, is hungry for coal.

    Russia’s invasion of Ukraine and the subsequent halt in Russian gas flows to Europe has nudged coal markets in two ways.

    One, it pushed up the price of natural gas across much of the world, which made coal a more cost-effective fuel in some places. Two, some utilities in Europe expect to burn more coal in the short term to displace Russian coal and gas, and that has also driven demand and higher prices for coal.

I recently noted a wind farm is being dismantled in western Germany to make way for an expansion of an open-pit lignite coal mine in a “paradoxical” situation highlighting the current prioritization of energy security over clean energy in Europe’s biggest economy.

QatarEnergy CEO and state minister for energy Saad al-Kaabi has also noted the U-turn from the climate-alarm-inspired transition to green energy.

    “Many countries particularly in Europe which had been strong advocates of green energy and carbon-free future have made a sudden and sharp U-turn. Today, coal burning is once again on the rise reaching its highest levels since 2014.”

Coal mining is being ramped up in Greece, as nations in Europe are now prioritizing energy security.

More: https://legalinsurrection.com/2022/11/coal-is-back-due-to-need-of-energy-security/