“Coal’s Skyrocketing Prices Could Last Years…”
August 11, 2022
“The EU’s ban on Russian coal that begins this month will boost demand for imports from other countries like Indonesia and even Australia. Meanwhile, plans to replace Russian pipeline gas imports with liquefied natural gas shipments will leave less fuel for other nations, forcing them to use more coal…
Shifting forward curves on coal futures markets also indicates that high prices will last. A December 2026 contract for Newcastle coal is priced at $233.15 a ton, up from $111.15 at the start of this year and $80.80 at the start of 2021…”
https://finance.yahoo.com/news/coal-skyrocketing-prices-could-last-035533183.html
Why is Europe cutting off all it’s energy resources. First of all it’s not going to hurt Russia. They have cheap energy and Europe cost of energy is increasing. Everyone needs energy. If the west doesn’t buy Russia’s oil or coal someone else will. What’s even more important is Europe should be energy independent. They’re not so this winter is going to be bad for Europe — real bad.