Economics of the International Coal Trade

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This book is the 2nd edition of the Economics of the International Coal Trade, focusing on coal as the primary energy source globally, accounting for 40% of electricity generation and 30% of primary energy. With over 6 billion people expected to require proper power by 2050, the demand for energy remains unmet. The text explores the global coal business, its significance, sources, demand, supply, trade, usage, environmental impact, and future prospects. Despite recent price increases, coal remains an under-discussed topic in the scientific community. The new edition includes special sections on coal analysis, coking coal characteristics, the steel industry, cement and petcoke markets, global gas markets, nuclear energy, renewable energy, power plant technology, and CO2's role in climate change. The author contends that coal is far from “dead,” asserting its importance will grow in both absolute and relative terms for decades. Key messages challenge popular beliefs, emphasizing that man-made CO2 does not affect global temperatures and that fossil fuel combustion does not influence weather patterns. The text advocates for embracing coal as a transitional energy source and encourages industrialized nations to invest in cleaner coal technologies to improve environmental sustainability.