Coal exports setting new records
We’ve heard it said in American Coal Council conferences, and I told it to an AP reporter this morning, even if some of the people in this country are naive enough to think we can stop using abundant, affordable, and increasingly clean American coal, the rest of the world is striving to get ahold of it.
Bloomberg Businessweek reported some of the rapidly growing export numbers this week,
U.S. exports of coal and fuels such as gasoline and diesel continue to soar. Both categories are on track to set new annual records, according to government data.
Coal shipments are rising because U.S. demand for coal is falling as electric utilities burn more natural gas, which has plummeted in price, instead of coal. At the same time, demand for coal is rising in developing countries such as China and India as those countries work to bring electricity to millions who don’t have it.
Like it or not, coal is the fuel of the future – around the world. It will continue to drive beneficial electrification; it will continue to improve billions of lives; it will continue to provide affordable and reliable energy across the planet over the next several decades (centuries).