Coal demand set for biggest annual drop since World War II
INTERNATIONAL – Global coal demand is heading for its biggest annual drop since World War II as economic activity plunges due to coronavirus lockdowns.
Burning coal to make electricity in several European countries has become unprofitable and socially untenable — crowded out by cheap natural gas and the proliferation of renewable energy as well as powerful environmental movements. The pandemic has only hastened its demise.
Global coal demand will fall by 8%, the International Energy Agency said in a report gauging the impact of the virus across the energy business. The amount of the fuel burned for power will fall 10%.
Source: iol.co.za
