[cityhantam]

https://www.cnbc.com/2022/08/02/coal-con...s-iea.html

‘Dirty ol’ coal’ is making a comeback and consumption is expected to return to 2013′s record levels

Coal prices are soaring and global coal consumption is expected to return to record levels reached almost 10 years ago as the global energy supply crunch continues.
 
While investors in coal stocks are having a field day thanks to high coal prices, curbs on carbon emissions are taking a backseat as markets and governments scramble to stock up on traditional energy supply amid bottlenecks caused by the Ukraine war, analysts say.

Worse, slowing investments in new coal-powered energy facilities have tightened the supply of coal even further, Shaw and Partners senior analyst Peter O’Connor told “Squawk Box Asia” on Friday.
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“Who would have thought dirty ol’ coal would have been the best-performing equities in the last financial year. So far this financial year it’s also the best-performing sector,” O’Connor said.

“And looking at the year ahead through the northern winter with gas prices in Europe and gas supply availability, countries are turning back to coal.

“And supply [of coal] is tight. Why? Because nobody’s building capacity and markets will remain tight given the weather and Covid. So that market will stay higher for longer, probably well into 2023 calendar year.”