Coal is experiencing a mini U.S. rebound thanks to higher prices for natural gas both domestically and in key global markets, Axios’ Ben Geman writes.
Driving the news: U.S. coal exports are 29% higher this year, the Energy Information Administration said in its monthly outlook Tuesday.
- And coal consumption in the U.S. power sector is slated to be 18% percent higher.
Yes, but: EIA notes that coal-fired power has not increased as much in response to gas prices as in the past, due to lower supplies and stockpiles.
The big picture: Coal, the most CO2-intensive fuel, once provided over half of U.S. power but has bled market share to gas and renewables over the last decade.
- It fell to 20% of total U.S. generation last year but is reviving to 23% this year, per EIA.
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- On November 11, 2021