Energy 149, Why coal prices are at all-time high

Coal prices have reached new all-time high of $150.8/ton today. Its previous high prices were:

Sept. 3, 2018, $114.4/ton
Oct. 3, 2016, $108.6/ton
Feb. 1, 2011, $131/ton.

https://tradingeconomics.com/commodity/coal.

Why? Supply-demand imbalance, of course. But where are the demand spikes and supply restrictions? 

Demand spike in many Asian countries especially China, building more coal power plants.
Supply restrictions in the US because of Biden's "save the planet" agenda. See the rise in prices started in late November 2020 at around $65/ton when it was becoming apparent that he would occupy the White House. The uptick in price is also very steep compared with previous price rise in previous years.

Coal Prices Rise To $150/Tonne, Highest Level In 10 Years 
On Jul 18, 2021 
https://von.gov.ng/2021/07/18/coal-prices-rise-to-150-tonne-highest-level-in-10-years/

Coal futures surged to almost $150 a tonne in July, the highest level in a decade as a heat wave in Zhejiang, Jiangsu and Guangdong, China’s biggest industrial provinces has pushed the electricity consumption to unprecedented levels.

I also checked these news reports, related stories on climate money.

Asian coal plant drive threatens climate goals: report 
AFP  30/06/2021 - 05:04
https://www.france24.com/en/live-news/20210630-asian-coal-plant-drive-threatens-climate-goals-report

"China, India, Indonesia, Japan and Vietnam are planning to build more than 600 coal plants, think-tank Carbon Tracker said.

The stations will be able to generate a total of 300 gigawatts of energy -- equivalent to around the entire electricity generating capacity of Japan."

Indonesia sets coal benchmark price at highest in a decade on Chinese demand 
July 5, 2021  6:28 PM PST
https://www.reuters.com/business/energy/indonesia-sets-coal-benchmark-price-highest-decade-2021-07-05/

Coal Output in U.S. Seen Rising Most Since 1990 on Global Demand
By Will Wade  July 8, 2021, 1:15 PM EDT
https://www.bloomberg.com/news/articles/2021-07-08/coal-output-in-u-s-seen-rising-most-since-1990-on-global-demand

Here Come the Climate Protectionists
By The Editorial Board  July 11, 2021 6:22 pm ET
https://www.wsj.com/articles/here-come-the-climate-protectionists-11626042142

"Western politicians have failed to persuade their own voters to commit economic suicide by banning fossil fuels, and forget about China, Russia or India. The climate lobby’s fallback, which is starting to emerge, is to punish the foreigners and their own consumers with climate tariffs."

India wants rich countries to pay more for green energy shift
Bloomberg  July 12, 2021 
https://timesofindia.indiatimes.com/business/india-business/india-wants-rich-countries-to-pay-more-for-green-energy-shift/articleshow/84337411.cms

“We have our own developmental imperatives,” Gupta said. “If you want that I don’t emit carbon, then provide finance. It will be much more than $100 billion per year for developing nations."

Trade Review: No peak in sight for met coal prices as supply continues to tighten 
Jeffery Lu Jessie Li   14 Jul 2021 | 02:37 UTC
https://www.spglobal.com/platts/en/market-insights/latest-news/metals/071421-trade-review-no-peak-in-sight-for-met-coal-prices-as-supply-continues-to-tighten

China’s Heat Wave Is Pushing Coal Prices Toward Record Level 
By Alfred Cang and Krystal Chia  July 16, 2021, 5:00 AM Updated on July 16, 2021, 2:10 PM GMT+8
https://www.bloomberg.com/news/articles/2021-07-15/china-s-heat-wave-is-helping-to-drive-coal-prices-higher-again
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Meanwhile, House Bill (HB) 1981 was filed in Congress by former Senator, now Congresswoman Loren Legarda, the PH Ecosystem and Natural Capital Accounting System (PENCAS bill).

Shrewd and bureaucracy-expanding bill. It will create a new Commission, create new units in existing Departments and Bureaus, complicate and emasculate the existing national accounting system (GDP computation). Very good in raising further public spending, expand the bureaucracy, while producing more difficult, more costly business permitting.

Very likely targets are the mining, oil gas coal exploration and development. And very likely, that bill won't consider forested land cleared for solar wind power be counted as damage to the natural environment. Her son, Mr. Leandro Leviste, owner of Solar Philippines, is in the business of clearing lands, even murdering thousands or millions of trees to put up wide solar PVs.

See this rape of a forest land in Calatagan, Batangas, Solar Philippines project.

https://calatagan.gov.ph/phs-largest-solar-farm-found-in-calatagan-batangas/   
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See also:
Energy 146, On energy storage, solar-wind subsidies, net zero, June 16, 2021 
Energy 147, Palawan oil plants, Cebu and Iloilo coal plants, June 18, 2021 
Energy 148, High oil, gas and coal prices, June 26, 2021.