Oil $500 - By Flavious J. Smith, Jr.

Demand for coal in China has already skyrocketed. It accounted for roughly half the global coal consumption back in 2012... And it is forecast to grow until 2025. The country burns 4 billion tons per year. That’s four times as much as we burn in the U.S. And it’s more than six times as much as the entire European Union burns in an average year. India’s coal consumption is expected to surpass the U.S. around 2030. The percentage of the world’s consumption in India will increase from 8% in 2012 to 14% in 2040, according to EIA estimates. The EIA forecasts coal as the second-largest energy source worldwide through 2030, behind petroleum-based sources like natural gas. The U.S. holds one of the largest supplies of coal in the world. As China, India, and the rest of the developing world demand more coal, we’ll step forward to meet their needs. U.S. coal exports are needed to meet global demand.

The death of coal is a myth.

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