Image by Semevent from Pixabay
By Jo Nova
The trend is spreading. Coal, the stranded asset of a bygone era, is hot property again everywhere. All it took was a few weeks of an energy crisis, and decades of brainwashing against coal is evaporating.
On Friday, I wrote about how countries like Japan, Korea, and India were redirecting themselves towards coal power. Now Bloomberg, Fortune, and others are reporting this trend. As I write, Italy is considering delaying the closure of all its coal plants til 2038, Germany is reopening old coal plants. Thailand is restarting two coal plants it only shut down last year. Bangladesh is going to run its coal plants at max capacity all summer.
And the Ecoworriers are starting to fear this crisis will trigger a more permanent shift back to coal — which it absolutely will — not because of ‘sunk costs’ or any of the other excuses the greenies tell themselves, but because the oil crisis will break the sacred exorcism spell cast upon coal. Governments have been shocked at how vulnerable they are without fossil fuel energy.
People might be ordering EVs, but governments want fossil fuels.
Activists should be panicking […]
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