{"id":1455577,"date":"2024-02-06T11:55:00","date_gmt":"2024-02-06T16:55:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1455577"},"modified":"2024-02-06T11:55:00","modified_gmt":"2024-02-06T16:55:00","slug":"biden-makes-coal-great-again-as-exports-soar-to-india","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/biden-makes-coal-great-again-as-exports-soar-to-india\/1455577\/","title":{"rendered":"Biden Makes Coal Great Again As Exports Soar To India"},"content":{"rendered":"

Biden Makes Coal Great Again As Exports Soar To India <\/span><\/p>\n

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US thermal coal exporters recorded more than $5 billion in overseas sales in 2023, shipping upwards of 32.5 million metric tons of the high-polluting power fuel, according to\u00a0Reuters<\/a>, citing data from ship-tracking firm Kpler. These coal export earnings were the second highest since 2017, trailing only behind 2022’s $5.7 billion. This comes as US utility coal usage for electricity generation tumbles to the lowest in this century.\u00a0<\/p>\n

Reuters points out diverging trends between sliding domestic coal use at power plants and a surge in coal exports. They called this “hypocrisy, given the country’s ambitions to become a global leader in energy transition and pollution reduction efforts.”\u00a0<\/p>\n

<\/a><\/p>\n

In 2023, India was the largest destination for US coal shipments, with 11.8 million tons delivered, accounting for 36.3% of total US thermal exports. Kpler data showed that volume was up 130% from 2022, and the south Asian nation is the world’s largest coal producer and consumer after China.\u00a0<\/p>\n

“India is expected to remain a keen buyer of international coal as the country’s domestic reserves are being depleted and power firms rely on coal for about 75% of India’s electricity,” Reuters said.<\/p>\n

This\u00a0comes as major US companies, such as Apple<\/a>, have been shifting manufacturing supply chains from China to India – a move called ‘friendshoring’.\u00a0<\/p>\n

In a separate report,\u00a0Reuters<\/a>\u00a0pointed out that Prime Minister Narendra Modi’s government increased coal power generation in 2023 by 11.3%, the fastest pace in at least five years.\u00a0<\/p>\n

“In the next 18 months, about 19,600 MW (megawatts of) capacity is likely to be commissioned,” the power ministry said late last week.\u00a0<\/em><\/p>\n

Many of these companies, who have adopted woke green policies, will be or have already produced goods in India on a grid heavily reliant on coal.<\/p>\n

Other top export destinations for US coal last year include The Netherlands (13.4% of total), Egypt (8.5%), Morocco (6.7%) and Japan (6.0%).<\/p>\n

According to the US Energy Information Administration, a record 17% of total US coal production was exported, compared to around 12.5% in 2017.\u00a0<\/p>\n

To sum up, Biden is ‘making coal great again’ with surging exports. At the same time, US corporations flock to India from China to build products on coal-powered grids while virtue signaling back in the States how they’re saving the planet by planting trees and buying carbon credits.\u00a0<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nTue, 02\/06\/2024 – 06:55<\/span><\/p>\n

\u200bRead More<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

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