March 16, 2021 Read More →

U.S., China, India expected to ramp up coal consumption over next year

Zero Hedge:

Major users of coal across the world are set to ramp up their usage of the fossil fuel in coming months.

Power plants in the U.S. are expected to consume 16% more coal this year than in 2020 and another 3% on top of that in 2022. China and India also have “no plans to cut back” their use of burning the fossil fueld. In fact, “it’ll almost be as if the pandemic-induced drop in emissions never happened,” Bloomberg reports. 

Inevitably, this will result in higher emissions, which stands at stark odds with the climate initiatives that President Joe Biden ran on. Amanda Levin, policy analyst at the New York-based National Resources Defense Council said: “We’re going to see a really marked increase in emissions with coal consumption at U.S. power plants returning almost to 2019 levels.”

Dennis Wamsted, an analyst for the Institute for Energy Economics and Financial Analysis, still thinks the longer-term trend for coal is lower, especially as emerging markets have started to favor gas and renewables. He concluded that for the long-term: “The trend is down, down and continuing to go down.” 

[Tyler Durden]

More: U.S. Joins India and China In Ramping Coal Usage To Pre-Pandemic Levels

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