Value of U.S. Coal Exports Tripled Since 2005 (Steel Guru)
EIA says US coal exports jump 3 fold since 2005
The Energy Information Administration released updated data on US energy trade, and in its latest tranche, EIA data shows that the dollar value of US coal exports has tripled since 2005, giving the US a billion dollar surplus in coal trade.
Coal is still a minor slice of US energy trade, which is dominated by oil. Coal only accounts for 5%.
Nevertheless, coal trade has skyrocketed in recent years. The US exported 50 million short tonne in 2005, but that number jumped to 126 million short tonne in 2012.
This is largely due a decreased reliance on coal within the US at the same time that global demand for coal is rapidly increasing, largely led by China. A slowdown in domestic demand has obviated the need for coal imports, which have declined.
The US still imports coal, with about Q3 coming from Colombia.
With natural gas and renewable energy eating into coal’s market share in the US, coal producers have had to look abroad. About 50% of those exports go to Europe, with 26% to Asia, 11% to North America, and 10% to South America. Coal producers are hoping to continue to capitalize on growing global demand by building export terminals on the West Coast.
This would allow coal from the Powder River Basin in Wyoming and Montana, the lowest coast coal in the US to reach China and India. But those proposals have run into stiff local opposition as well as financial challenges.
See article here.