Greta and the Green Cult are not happy. Not at all.
Global coal use is on course to hit all-time high this year, IEA says
Global coal use is on course to increase by 1.2% to hit a record high this year, according to a report from the International Energy Agency.
It comes at a time of significant volatility and uncertainty in global energy markets, with the IEA stating that Russia’s invasion of Ukraine in Feb. 2022 had “sharply altered the dynamics of coal trade, price levels, and supply and demand patterns in 2022.”
“Coal markets have been shaken severely in 2022, with traditional trade flows disrupted, prices soaring and demand set to grow by 1.2%, reaching an all-time high and surpassing 8 billion metric tons for the first time,” the IEA said in its Coal 2022 report, published Dec. 16.
The price of fossil fuels saw a substantial jump this year, the agency said, “with natural gas showing the sharpest increase.”
“This has prompted a wave of fuel switching away from gas, pushing up demand for more price competitive options, including coal in some regions,” it added.