Why Is The US Government Handing India Our Coal, Yet Trying To Ban American Consumption Of Coal!?
US thermal coal exporters recorded more than $5 billion in overseas sales in 2023, shipping upwards of 32.5 million metric tons of the power fuel, according to Reuters, citing data from ship-tracking firm Kpler. These coal export earnings were the second highest since 2017, trailing only behind 2022's $5.7 billion. This comes as US utility coal usage for electricity generation tumbles to the lowest in this century.
Reuters points out diverging trends between sliding domestic coal use at power plants and a surge in coal exports. They called this "hypocrisy, given the country's ambitions to become a global leader in energy transition and pollution reduction efforts."
In 2023, India was the largest destination for US coal shipments, with 11.8 million tons delivered, accounting for 36.3% of total US thermal exports. Kpler data showed that volume was up 130% from 2022, and the south Asian nation is the world's largest coal producer and consumer after China.
"India is expected to remain a keen buyer of international coal as the country's domestic reserves are being depleted and power firms rely on coal for about 75% of India's electricity," Reuters said.
This comes as major US companies, such as Apple, have been shifting manufacturing supply chains from China to India.
Many of these companies, who have adopted woke green policies, will be or have already produced goods in India on a grid heavily reliant on coal.
To sum up, Biden is 'making coal great again' with surging exports. At the same time, US corporations flock to India from China to build products on coal-powered grids while virtue signaling back in the States how they're saving the planet by planting trees and buying carbon credits.
For average Americans, this is fiscal insanity. Corruption at it's finest. Americans could - and should - be the ones who benefit from cheaper energy as that fuel is coming from OUR own homeland.
https://www.zerohedge.com/commodities/biden-makes-coal-great-again-exports-soar-india
