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Despite the fanfare surrounding wind and solar, the world’s dependency on fossil fuels is increasing. Last week, Saudi Aramco CEO Amin Nasser said that the world is now “transitioning to coal.”
Saad al-Kaabi, Energy Minister of Qatar, says , “Many countries particularly in Europe which had been strong advocates of green energy and carbon-free future have made a sudden and sharp U-turn. Today, coal burning is once again on the rise reaching its highest levels since 2014.”
They are right. Global coal demand will reach an historic high in 2022, similar to 2013’s record levels. According to the International Energy Agency (IEA) , “Global coal consumption is forecast to rise by 0.7 percent in 2022 to 8 billion tons…. Coal consumption in the European Union is expected to rise by seven percent in 2022 on top of last year’s 14 percent jump.”
Coal will continue to be a sought-after energy source as “rising gas prices after 2030 will make existing coal-fired generation more economic,” the IEA says. Global energy demand will grow by 47 percent from now through 2050, and oil is expected to be the major source of energy.
Analysts are projecting “a huge gas-to-coal fuel transition in power and industrial sectors” of Europe. Yes, not gas to renewables, but gas to coal. In fact, the European Union’s coal consumption grew 16 percent year-on-year for the first half of 2022. European countries imported 7.9 million tons of thermal coal in June, more than doubling year-on-year . Annual coal imports are expected to reach 100 million tons by the end of the year, the highest since 2017.
Even in the most developed economies of the West like Germany and the UK, fossil fuels continue to dominate as the only dependable source of energy. Germany is set to become the third highest importer of Indonesian […]
They’re Trying to Shut Us Down
Over the last several months, I’ve lost count of how many times the powers-that-be have tried to shut us down. They’ve sent hackers at us, forcing us to take extreme measures on web security. They sent attorneys after us, but thankfully we’re not easily intimidated by baseless accusations or threats. They’ve even gone so far as to make physical threats. Those can actually be a bit worrisome but Remington has me covered.
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Thank you and God bless!
JD Rucker