Coal Makes Quiet Comeback Amid Clean-Energy Push

October 4, 2023 14:58:06

Coal-generated energy is making a quiet comeback in many countries even though the global community has pledged to move away from coal to cleaner alternatives such as solar and wind. The fossil fuel was undeniably responsible for powering humanity through the industrial era, but it also played a significant role in heating up the atmosphere and contributing to climate change.

With many countries across the globe already dealing with extreme weather events due to climate change, transitioning from dirty fossil fuels such as coal is crucial to cutting carbon emissions and mitigating climate change.

In addition, large banks such as Goldman Sachs have promised to divest from coal, but reports show that coal power is still in use and, in some cases, is on the rise. With major banks divesting from coal, smaller funds such as Javelin Global Communities have stepped in to fill the empty coal-investing shows. Since two former Goldman traders formed Javelin Global Commodities eight years ago, the fund has reached more than $1 billion in value and is now one of the top coal exporters in the United States.

A recent Bloomberg report revealed that Javelin Global earned record profits in the wake of the Russia-Ukraine war as Russia’s invasion sent many European countries scrambling for alternatives to Russian natural gas.  With energy costs soaring and the winter approaching, countries such as France, Austria and the Netherlands turned back to coal to fill the gaps in their energy supply.

Another report from the International Energy Agency noted that 2022 registered an all-time high global demand for coal that surpassed the record set nearly a decade ago in 2013, indicating that many nations were still using coal amid the global energy crisis. Even here in the U.S., the first eight months of 2023 saw thermal coal exports hit the highest levels since the year 2018 with exports increasing by more than 20% last year as demand for coal in Asian countries increased.

The world is still in the midst of an energy crisis that has caused energy prices to soar. Coal presents a reasonable alternative for energy generation, especially for nations such as China and India, which have seen energy generation from other sources, including geothermal plants, decline significantly in recent months.

Coal still enjoys a major role in many industrialized countries’ energy mixes. Most of the coal-fired power infrastructure still exists and is connected to the grid. It will most likely take years, if not decades, for nations to completely wean themselves off of coal and rely wholly on clean energy. This goes to show that coal producers such as Alliance Resource Partners LP (NASDAQ: ARLP) still have a role to play in ensuring the countries that have coal in their energy mix can access it.

About MiningNewsWire

MiningNewsWire (“MNW”) is a specialized communications platform with a focus on developments and opportunities in the Global Mining and Resources sectors. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MNW brings its clients unparalleled recognition and brand awareness.

MNW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from MiningNewsWire, text “BigHole” to 844-397-5787 (U.S. Mobile Phones Only)

For more information, please visit

Please see full terms of use and disclaimers on the MiningNewsWire website applicable to all content provided by MNW, wherever published or re-published:

Los Angeles, CA
310.299.1717 Office

MiningNewsWire is powered by IBN