Nasdaq Jan 11 – Coal-fired plants will account for about 85% of total U.S. power capacity scheduled for retirement this year with natural gas and renewables taking a greater share of the supply, the U.S. Energy Information Administration said on Tuesday. U.S. power plant operators were scheduled to retire about 12.6 gigawatt (GW) of coal-fired generating capacity in 2022 out
CNBC Coal-fired power generation is due to hit an all-time high this year, according to a report from the International Energy Agency, with the organization’s executive director calling for urgent action to mitigate emissions from the sector. The IEA’s report, Coal 2021, noted the planet’s coal power generation was on a trajectory that would see it rise by 9% in
CNBC Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grapples with worsening gas shortages. TotalEnergies CEO Patrick Pouyanne on Wednesday stressed the need to achieve price stability, contending that lower gas prices will reduce the need to rely on the higher-polluting
World Oil NEW YORK (Bloomberg) –Donald Trump vowed to revive the coal industry, but it’s President Joe Biden who’s driving a big comeback of the dirtiest fossil fuel. U.S. power plants are on track to burn 23% more coal this year, the first increase since 2013, despite Biden’s ambitious plan to eliminate carbon emissions from the power grid. The rebound
Reuters China ordered miners in Inner Mongolia to ramp up coal production and oil prices jumped on Friday as a record surge in the cost of gas revived demand for the most polluting fossil fuels to keep factories open and homes heated. The rebound in economic activity from coronavirus restrictions has exposed alarmingly low supplies of natural gas leaving traders,
Reuters LONDON – Oil prices rose on Friday to trade 4% up on the week, buoyed by a global energy crunch that has helped gas prices to record highs and prompted China to demand increased coal production. Energy markets have tightened in the face of improved fuel demand as economic activity rebounds and coronavirus restrictions ease, with further pressure from
World Oil (Bloomberg) –The world is living through the first major energy crisis of the clean-power transition. It won’t be the last. The shortages jolting natural gas and electricity markets from the UK to China are unfolding just as demand roars back from the pandemic. But the planet has faced volatile energy markets and supply squeezes for decades. What’s different
Reuters LONDON – Demand for coal and natural gas has exceeded pre-COVID-19 highs with oil not far behind, dealing a setback to hopes the pandemic would spur a faster transition to clean energy from fossil fuels. Global natural gas shortages, record gas and coal prices, a power crunch in China and a three-year high on oil prices all tell one
CNBC LONDON — Soaring electricity demand, infrastructure woes and a surge in global gas prices have triggered an extraordinary rally for the world’s least liked commodity. Australian thermal coal at Newcastle Port, the benchmark for the vast Asian market, has climbed 106% this year to more than $166 per metric ton, according to the latest weekly assessment by commodity price
Reuters LONDON – Coal-fired power plants are proving hard to shutdown in developing economies because they are cheap and convenient, but keeping them going is pumping out carbon dioxide at a rate far beyond the level needed to achieve net zero emissions by 2050. Coal, which is being phased out of the power system in many industrialised nations, is
Reuters The Energy Information Administration (EIA) on Wednesday said U.S. coal production fell in 2020 to its lowest level since 1965 due to low global demand in the wake of the coronavirus pandemic. The federal agency said in a report that U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019.
Reuters BRUSSELS/WASHINGTON – The United States and European Union will pledge closer cooperation on fighting climate change at a summit on Tuesday, but will steer clear of setting a date to stop burning coal, according to a draft joint statement. U.S. President Joe Biden will meet the chief of the European Union’s executive, Ursula von der Leyen, and European Council
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