Thermal coal was an expensive good in 2021, could gain almost 300% in peak after the COVID pandemic outbreak in 2020. However, the price storm came to an end towards the end of October after China decided that the domestic economy is more important than the climate balance and has unceremoniously ordered domestic coal mines […]
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The IEA reported today that increases in energy consumption in China, India and the United States could push demand for coal-fired power plants to record levels this year. In turn, this will undermine efforts to reduce greenhouse gas emissions. Global coal-fired power generation will increase by 9% to 10,350 terawatt-hours in 2021 due to the
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Energy Another positive week for the oil bulls more precisely the 9th week in a row in which oil prices could rise. WTI crude oil was able to gain 1.8% and closed on Friday at $83.98 per barrel. Brent crude oil was able to gain 0.79% and closed at $85.72 per barrel. On Tuesday, it
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Energy Crude oil rose for the 8th week in a row and is getting close to Wall Street’s announced target of $90 by year-end. Demand for crude oil continues to rise due to the recovery from the COVID 19 pandemic, but supply remains tight. After OPEC+ turned down the U.S. government on the issue of
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Energy The energy sector is probably one of the most exciting sectors at the moment, with rising prices for crude oil, natural gas, and the unloved thermal coal.Crude oil has closed the 7th week in a row with a plus and one must add here that further price increases are more than likely. WTI crude
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Coal, gas, and, more recently, uranium has seen peak prices since the 2020 COVID-19 shutdown. The price of natural gas rose by 167.50%. The price of coal even increased by 234.26%. Supply shortages are one reason for the rising prices of coal and natural gas. Mine stops, port closures, or recurring lockdowns drive the prices.
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The world is racing toward net-zero. Governments around the world are taking measures to significantly reduce greenhouse gases, such as transitioning to renewable energy or electrifying vehicles. To reach the net-zero goal by 2050, abundant wind turbines and solar panels must be built, among other things. The foundation for the green transition is built of
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