Deplorable Yankee
Diamond Member
Despite all the heavy dissemination of narratives and talking points about a “climate emergency” and the “energy transition” during 2021, the ongoing economic recovery from the COVID-19 pandemic proves that the world still heavily relies on fossil fuels to provide its constantly growing energy needs. Indeed, as the pushers of Peak Oil demand theory try in vain to revive their own always-wrong narrative, it now appears that the world has yet to even meet the peak of demand for the least environmentally friendly fuel of all, coal.
This is especially true in China, India and much of Asia, where thousands of coal-fired power plants have seen record usage levels in the face of a major heat wave this summer. Bloomberg reported last week that China’s enormous demand for coal this summer has caused commodity prices to spike to the highest level seen in 2 months, briefly climbing above 900 yuan/ton (roughly $139.31 at current exchange rates) on Friday.
The global futures price for coal set a new record high in May as supplies ran low. Australian coal - China’s main international supplier - hit $150 per ton in July, the highest level seen since 2008. The demand is so high in China that it has even led to implementation of electricity rationing in some parts of the country as supplies run short.
Pretty good read
From Forbes no less ...Forbes is all in with the man made globo homo warming watermelon cult
This is especially true in China, India and much of Asia, where thousands of coal-fired power plants have seen record usage levels in the face of a major heat wave this summer. Bloomberg reported last week that China’s enormous demand for coal this summer has caused commodity prices to spike to the highest level seen in 2 months, briefly climbing above 900 yuan/ton (roughly $139.31 at current exchange rates) on Friday.
The global futures price for coal set a new record high in May as supplies ran low. Australian coal - China’s main international supplier - hit $150 per ton in July, the highest level seen since 2008. The demand is so high in China that it has even led to implementation of electricity rationing in some parts of the country as supplies run short.
Pretty good read
Forget About Peak Oil - We Haven’t Even Reached Peak Coal Yet
Despite all the heavy dissemination of narratives and talking points about a climate emergency and the energy transition during 2021, the ongoing economic recovery from COVID-19’s pandemic proves that the world still heavily relies on fossil fuels to provide its constantly growing energy needs.
www.forbes.com
From Forbes no less ...Forbes is all in with the man made globo homo warming watermelon cult