Commodities and OIL

Commodities and OIL

by Tavatchai Meemongkolkiat -
Number of replies: 0




Peak coal is here. Total consumption of the dirtiest fossil fuel will reach a record high of more than 8.5 billion metric tons this year, and then start a long, slow decline, according to the International Energy Agency’s Coal 2023 report released Friday. That shift lower will be driven by global efforts to boost clean energy and rein in carbon emissions. Coal remains the world’s biggest source of electricity, but surging installations of renewables are outpacing rising demand for power.

Coal Use Is Set to Peak This Year

Global demand will then slowly decline as renewables surge