• 4 minutes "Natural Gas Trading Picks Up Considerably Amid High Volatility" by Charles Kennedy - ...And is U.S. NatGas Futures dramatically overbought at the $6.35 range?
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 1 day Revisiting: "The U.S. Grid Isn’t Ready For A Major Shift To Renewables" from March 2021 by Irina Slav at OILPRICE
  • 4 days How cheap Chinese tires might explain Russia's 'stalled' 40-mile-long military convoy in Ukraine
  • 4 hours Failure To Implement Russian Oil Ban Could Send Oil Crashing To $65
  • 8 days Will Variants and Ill-Health Continue to Plague Economic Outlooks?
  • 8 days "The Calm Before The Storm In Oil Markets" by Tom Kool of OILPRICE and seen at YahooFinance
  • 2 days Natural Gas is the Cleanest and most Likely Source of Energy to Fuel the World.
  • 8 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 8 days "Russia will stop 'in a moment' if Ukraine meets terms - Kremlin" by Reuters via Yahoo News...but Reuters suddenly cut out the balanced part of the story.

Largest U.S. Coal Miner Sees 17% Share Price Surge

The surge in worldwide energy prices has triggered a spike in coal usage—which has in turn improved the bottom line of the largest coal miner in the United States.

Third-quarter sales for coal miner Peabody Energy Corp. shot up to the highest level in seven quarters, to $900 million.

Peabody’s share prices surged 17% on Monday—the largest spike since July, according to Bloomberg.

Other U.S. coal miners are likely to see boosts in revenue and sales, as the boost in coal demand pairs with higher prices for the commodity, although green initiatives and the shift away from coal is expected to dampen how quickly and how extensively coal miners can lift production in response to demand.

Coal demand is soaring in other places as well, with China seeing a shortage of domestic coal. There, thermal coal futures have hit a record high, as China’s September coal output fell.

In India, coal’s share in the electricity generation mix increased to 70% during the first half of October, up from 66.5% in September. Power plans have enough coal inventory to last just four days—compared to 12 days two months ago.

U.S. coal-fired electricity generation is expected to increase this year for the first time since 2014, after years of decline, according to information published by the Energy Information Administration.

The EIA now sees 22% more U.S. coal-fired generation in 2021 than in 2020. While this is true, the EIA does not expect this trend to continue, in part due to the U.S. power sector retiring 30% of its capacity at coal plants since 2010 and no new coal capacity brought online in the U.S. since 2013.

The EIA sees coal-fired generation declining next year by 5% as more retirements continue.

ByJulianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment
  • George Doolittle on October 19 2021 said:
    The USA is obviously not able to export coal at the price given the awesome expense of trying to do so...if that is even possible given the Transportation Crisis in the USA let alone globally.

    Great news for Columbia certainly obviously and of course...as well as Drummond Coal from Alabama.
  • Kay Uwe Boehm on October 19 2021 said:
    Maybe at all good idea to increase coal production in USA with biggest reserve like russia for delevering to china with highest production and import but less reserves causing huge future energy problem now also because of flood and timely not buying from australia only russia and indonesis also with limited reserves and india was increasing own production but also import of coal.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News