While Dems War On Coal, China Desperately Buying U.S. Coal
"Joe Manchin Just Cooked the Planet," a typically hysterical Rolling Stone rant declares.
"Unless Manchin changes his position dramatically, he will be remembered as the man who, when the moment of decision came, chose to condemn virtually every living creature on Earth to a hellish future of suffering, hardship, and death," it raves.
Give us trillions in pork or the earth blows up.
But while the Democrats go to war on coal, the People's Republic of China is buying up any coal it can get its hands on.
China is paying the most on record for the dirtiest type of coal, showing how the power crisis is turbo-charging Asian energy markets.
The price of a variety of lignite coal from Indonesia surged to $110 to $120 a ton this week due to rising demand from China and falling production from mines in Kalimantan, said traders who buy and sell the grade. That’s up from last year when some shipments sold for as little as $20 to $25 per ton.
The PRC was supposed to have ended lignite coal imports, but presumably, they're claiming that what they're importing meets their metrics by mixing it.
Beijing’s ban on buying generally higher-quality Australian shipments is forcing Asia’s largest economy to look farther afield for more of that type of coal from Indonesia, Russia, South Africa and even the U.S.
The coal export numbers have been booming.
U.S. coal shipments to China leaped more than 30-fold in the second quarter, as miners took further advantage of the Asian powerhouse's prolonged trade dispute with Australia.
Deliveries surpassed 2.4 million tonnes compared to just 75,000 tonnes a year earlier, according to an S&P Global Market Intelligence analysis of industry data. The surge fueled a 53% jump to 20.6 million tonnes in U.S. coal exports, along with rebounds in India, Japan, Brazil and most other major markets following 2020 pandemic slowdowns...
China has transformed into the second-largest market for U.S. coal exports, behind only India
The media still keeps churning out Big Green propaganda about the coal industry collapsing and turning to green energy. In the real world though coal remains in demand. And if Democrats ban Americans from heating their homes, China will secure coal from its citizens. Shutting down coal mining in America won't change that. Supply chases demand. China, despite its pledges, needs coal and it will have coal.