• 3 minutes Looming European Gas Crisis in Winter and North African Factor - a must read by Cyril Widdershoven
  • 7 minutes "Biden Targets Another US Pipeline For Shutdown After 'Begging' Saudis For More Oil" - Zero Hedge Monday Nov 8th
  • 12 minutes "UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System" by Whitney Webb
  • 9 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days China's aggression is changing the nature of sovereignty.
  • 4 days Building A $2 Billion Subsea Solar Power Cable From Chile To China
  • 2 days Ukrainian Maidan after 8 years
  • 3 days OPEC+ Expects Large Oil Glut In Early 2022
  • 41 mins Communist China Declared War on the US Long Ago Part 1 of the 2-part series: The CCP's War on America
  • 2 days Delta variant in European Union
  • 3 days Hunter Biden Helped China Gain Control of Cobalt Mines in Africa
  • 3 days Forecasts for Natural Gas
  • 3 days Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 11 hours President Biden’s Nuclear Option Against OPEC+ - Waste of Time
  • 23 hours Сryptocurrency predictions
  • 3 days NordStream2
  • 3 days CO2 Electrolysis to CO (Carbon Monoxide) and then to Graphite
  • 4 days Big Bounce: Russian gas amid market tightness - new report by Oxford Institute for Energy Studies

U.S. Coal Industry Says Almost Sold-Out For 2022

U.S. coal miners are enjoying the surge in demand for the fossil fuel, with almost all of their production through the end of next year—and some into 2023 even—already sold, according to a Bloomberg report.

Prices are higher, too. According to the report, Arch Resources, the second-largest coal miner in the United States, has sold its 2022 output at prices 20 percent above current spot market rates. This suggests that this year’s surge in coal demand may not be just a short-lived hiccup in the energy transition.

Share prices of coal miners are also rising amid the demand surge. Peabody Energy Corp., America’s largest coal miner, saw its stock gain 17 percent within a day earlier this month.

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 increase from 2020 is seen at a hefty 21 percent. Yet this will be a short-lived trend as the EIA also noted that as much as 30 percent of coal-fired power plants have been retired since 2010 and no new plants have been built since 2013 as the country shifts towards low-carbon energy generation.

Yet demand for coal from other parts of the world, namely Asia, is likely to remain strong in the coming years, opening up export opportunities. China is building new coal plants at a fast rate, and India continues to rely on coal for 70 percent of its electricity generation.

Meanwhile, however, coal stocks in the United States are shrinking. Down by 13.2 percent in August from a month earlier, coal stockpiles stood at 84 million tons, according to the Energy Information Administration. This is the lowest August total since 2001 when records of this nature began.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • Kay Uwe Boehm on October 30 2021 said:
    USA with highest coal reserves in world should increase not decrease coal production for export to asia also decreasing trade deficit since not much time left for substitution of oil and coal, later gas again with nuclear and cold fusion not solar & wind power since impossible. CO2 rising rate not critical with only +2ppm/a decreaed by photosynthesis and burning more gas instead coal not much reducing CO2
    USA coal in Mt 2011: 920 2018: 634 reserve 222641 china 3530 reserve 124059 indonesia 498 resereve unlear.
    China, india, korea, japan etc. importing coal from australia, indonesia & russia.

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