“The market has spoken: Coal is dying” declared a September 2019 headline in CNN Business, after China announced it would cease funding overseas coal projects. “Coal is dead. Power to the people!” activist group 350.org triumphantly tweeted.
These predictions have not aged well. Bulk cargo vessels full of coal crisscross the oceans. Storage areas are so full of coal near ports in the Netherlands and Belgium that iron ore storage space is being commandeered.
China’s production in the first half of...
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