/biz/ - Business & Finance

>>57319022
>>57318979

>The shift of coal demand to Asia continues. In 2021, China and India already accounted for two-thirds of global consumption, meaning together they used twice as much coal as the rest of the world combined. In 2023, their share will be close to 70%. By contrast, the United States and the European Union – which together accounted for 40% three decades ago and over 35% at the beginning of this century – represent less than 10% today.
>The same split is observed on the production side. The three largest coal producers – China, India and Indonesia – all produced record amounts in 2022. In March 2023, both China and India set new monthly records, with China surpassing 400 million tonnes for the second time ever and India surpassing 100 million tonnes for the first time. Also in March, Indonesia exported almost 50 million tonnes, a volume never shipped by any country before. By contrast, the United States, once the world’s largest coal producer, has more than halved production since its peak in 2008.

soft landing, faggots!