Coal is Alive & Kicking
Despite all the solar panels, windmills, EV’s and government subsidies to go green, the world has never used as much coal.
Under current trends, coal demand will be higher in 2050 than it was in 2000.
The world isn’t performing an “energy transition” but an “energy addition,” where renewable sources of energy top up fossil fuels.
Javier Blas from Bloomberg pops the green bubble for those that still think Coal is Dead…
The reason is simple. Coal is still the most dependable base-load power source, next to gas-fired power stations and nuclear reactors, both typically disliked by green activists. It doesn’t rely on the weather like hydro, wind and solar do.
In the US, it still accounted for 16% of power generation last year, more than solar and wind combined — but in that role, the commodity is largely hidden from daily view, so we don’t realize it.
It’s in Asia, where King Coal reigns supreme. Last year, it accounted for 82% of global coal usage; China alone consumed 56%, according to the UK-based Energy Institute.
As India continues on its path of industrialization, it is witnessing a rapid increase in electricity usage, and New Delhi, keen to avoid blackouts, is going all-in building coal-fired power stations, paying no more than lip-service to emissions targets. So far this year, coal consumption in India is running 10% higher than in 2023.
Ironically, the production of what’s needed for the shift toward green energy sources is boosting the demand for coal.
China’s mass production of solar photovoltaic panels, EV’s and batteries is one of the main reasons why electricity consumption is rising.
In Indonesia, coal demand has doubled in the last five years. as it ramps up nickel production, key for EV batteries.
See the full article on Bloomberg here:
Climate Crisis: Old King Coal Remains Omnipotent and Omnipresent - Bloomberg
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