Mark Twain noted reports of his death had been greatly exaggerated. So too, the ‘death’ of coal-fired power.
For years, the wind and sun cult have been bleating triumphantly that ‘coal is dead’. Energy markets, however, don’t share their peculiar worldview.
Thermal coal prices are off the charts, with record demand driving record prices: Australian thermal coal prices hit $US$400 ($548 a tonne) in March, with prices still on the rise. For an energy source that should be suffering rigor mortis, coal is displaying a remarkable resilience.
Newcastle coal sets record as global energy crisis deepens
5 September 2022
One of Australia’s biggest commodity exports has surged to record levels, with the price of Newcastle coal soaring to all-time highs as miners cash in amid a deepening energy crisis in Europe.
The thermal coal rose to a new high with Newcastle futures trading above $US440 ($648) a…
View original post 889 more words