The International Energy Agency released its 2023 Coal Market Update on Thursday, which shows that global coal consumption in 2022 rose by 3.3% to a record 8.3 billion tons.
While the use of coal in European countries and the United States has declined, those reductions are offset by increases in Asian countries, primarily India and China.
Thirty years ago, the U.S. and European share of coal consumption was 40%. By 2024, the IEA predicts it will fall to 8%. Rep. John Bear, R-Gillette, told Cowboy State Daily that the efforts to reduce emissions in the U.S. by shutting down coal plants will have no impact on global warming because Asian countries are moving full steam ahead with coal.
"Shipments were impacted by low costs or lower customer demand due to low natural gas pricing, high coal inventory levels and the June tornado event," Grech said.
Arch reported a drop of 700,000 tons of coal sold from its thermal mines, which includes Black Thunder and Coal Creek in Wyoming, as well as West Elk in Colorado.
The IEA report states that China would continue to account for more than half of the world's coal use.
Bear said the Biden administration's drive to lower the United States' emissions while China rebuffs any attempt to drive its down will put America at a disadvantage with the Asian country.
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