What is one man’s meat is another’s poison.
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The proverb seems to be true for India’s coal supply woes.
The country’s power ministry has advised all provinces to start importing coal for the next three years in order to operate their power plants … which, in turn, is music to the ears of coal miners in the United States.
According to a report by the Energy Information Administration, U.S. miners, otherwise struggling to find buyers, may end up exporting 104 million tons of coal in 2018 — up 7.2% from a year ago.
In April alone, India purchased almost 7 million tons, which was one-fifth of all U.S. coal exports.
For the last few years, power plants in India have cut back on coal imports because of the fall in the value of the rupee, the rise in global prices, and increasing reliance of consumers on green energy. Read More