Coal prices reached a new all-time high of $160/ton today.
1990-2020, https://fred.stlouisfed.org/graph/?id=PCOALAUUSDA
Coal prices last year: August 6 at $50.20/ton, by November 3 US elections, $60.55, December 31 $80.55. This year, March 30 $93.85, June 28 $128.55, July 30 $149.75, and today $160.25. This is 2x the end-2020 level and more than 3x August 6 2020 level.
People in Europe, California grappling with the folly of their "decarbonized energy transition", they suffer from near or actual power outages, blackout, or huge electricity price spikes, or both. See stories below.
Ignored warnings
Another major fault in the European power supply system
Herbert Saurugg July 27, 2021, 6:51 pm
https://www.risknet.de/themen/risknews/ignorierte-warnhinweise/
On July 24, 2021 at 4:36 p.m. there was a breakdown of the network in the European network and thus the second major disruption in the last 7 months. But hardly anyone took notice of it, true to the motto "Guat is ganga, nothing is g'scheh'n", even if around 2 million people in France, Spain and Portugal were briefly without electricity Kitty is busy, as only the deadliest catastrophe after World War II could lead to, other warning signs continue to be ignored and we are obviously not learning.
China to encourage qualified coal mines to expand production capacity
By Reuters Staff July 30, 2021
https://www.reuters.com/article/us-china-coal/china-to-encourage-qualified-coal-mines-to-expand-production-capacity-idUSKBN2F00JY?
LONDON SUMMIT: INDIA ABSENT, AFRICA DEMANDS $750 BILLION-A-YEAR FROM RICH COUNTRIES
Gaia Fawkes August 2 2021 @ 13:46
https://order-order.com/2021/08/02/london-summit-india-absent-africa-demands-750-billion-a-year-from-rich-countries-cop26/
Power Grid Expert Warns: “Signs Being Ignored” As Europe’s Grid Teeters On The Brink
By P Gosselin on 3. August 2021
https://notrickszone.com/2021/08/03/power-grid-expert-warns-signs-being-ignored-as-europes-grid-teeters-on-the-brink/
California Electricity Woes: More Intervention, Higher Prices, More Emissions (the back side of wind and solar)
By Robert Bradley Jr. -- August 3, 2021
https://www.masterresource.org/california-energy-policy/california-electricity-woes-august-2021/
Spain urges EU to act on soaring energy prices
Deputy prime minister highlights cost to consumers of bloc’s strategy to cut carbon emissions
Daniel Dombey in Madrid and Valentina Pop in Brussels AUGUST 4 2021
https://www.ft.com/content/7cf9a7c1-a103-4923-bb5b-bad93d32ca39
Europe Faces an Energy Shock After Gas and Power Prices Rocket
By Josefine Fokuhl, John Ainger, and Isis Almeida August 5, 2021, 1:00 PM GMT+8
https://www.bloomberg.com/news/articles/2021-08-05/europe-faces-an-energy-shock-after-gas-and-power-prices-rocket
The cost of natural gas and electricity has surged across Europe, reaching records in some countries, as businesses re-open and workers return to the office. In Germany, wholesale power prices have risen more than 60% this year, leaving the owner of the Frau Honig cafe in Friedrichshain with no option but to raise prices of everything from cappuccinos to cinnamon rolls.
“The higher power prices were a double whammy after our cafe was forced to close for such a long time, doing only takeaway during the pandemic,” he said. “We just had to pass on the costs to customers.”
See also:
Energy 148, High oil, gas and coal prices, June 26, 2021
Energy 149, Why coal prices are at all-time high, July 20, 2021
Energy 150, Funny California oil importation policy, July 29, 2021.
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