Despite the well-documented environmental impacts of coal, the fact remains that it is still an important energy source for many countries around the world. In 2018, coal provided about 27% of the world’s electricity, according to the BP Statistical Review of World Energy 2019. This decreased from 29% in 2017 but is still a significant share. Here we discuss five reasons why coal is still an important energy source.
1. Abundance
Coal is abundant and relatively easy to extract, which has made it a go-to energy source for centuries. According to the World Coal Association, there are over 802 billion tonnes of recoverable coal reserves worldwide. This means there is enough coal to last us around 118 years at current production rates.
Coal is one of the most abundant energy resources on Earth, and it has a wide range of applications. In the past, coal was primarily used for heating and cooking. However, it is now also used to generate electricity and to produce steel. In addition, coal is an important component in cement, paper, and brick production. As a result, coal plays a vital role in the global economy. However, despite its importance, coal is a finite resource that will eventually be depleted. As such, it is important to develop alternative sources of energy to ensure that the world’s economy can continue to thrive.
2. Low Cost
The abundance of coal means that it is a relatively cheap energy source. The cost of extracting and transporting coal is lower than other fossil fuels, such as oil and natural gas. This low cost has made coal popular in developing countries where demand for energy is growing quickly, but budgets are tight.
Coal is one of the most abundant energy resources on Earth and is also one of the cheapest. For these reasons, coal has long been used as a fuel for heating and power generation. However, coal has come under increasing scrutiny in recent years due to its environmental impacts. Burning coal releases a number of pollutants into the atmosphere, including carbon dioxide, sulfur dioxide, and nitrogen oxides. These pollutants can cause various health problems, from respiratory infections to heart disease. In addition, coal combustion emits a significant amount of carbon dioxide, which is a major contributor to climate change. As concern over these impacts grows, the use of coal is likely to decline in the years ahead. However, its low cost will continue to make it an attractive option for many energy consumers around the world.
3. Versatility
Coal can be used for a number of different purposes, including generating electricity, making steel, and cement production. This versatility makes it an attractive option for countries looking to diversify their energy mix.
Coal is an extremely versatile energy resource. It can be used to generate electricity, make steel and cement, and produce a wide variety of chemicals. In addition, coal is an important source of heat for residential and commercial buildings. As a result, coal plays a vital role in the global economy. In spite of its widespread use, however, coal is a controversial energy source. It is a major source of carbon dioxide emissions contributing to climate change. In addition, mining and burning coal can significantly impact local air quality and water resources. As the world transitions to cleaner sources of energy, it will be important to find ways to reduce the environmental impacts of coal while still meeting the global demand for this essential resource.
4. Local Availability
Coal is found in almost every country, making it a more reliable option than imported energy sources such as oil and gas. This local availability also helps keep costs down as transportation costs are minimized.
Coal is an important source of energy for many countries, providing a low-cost and reliable source of electricity. However, there are a number of factors that can affect the local availability of coal. One is the size of the reserves. If a country has large reserves of coal, they are more likely to be able to meet local demand. Another factor is the proximity of the mines to power plants. If the mines are far away, it can be expensive to transport the coal to the plants. Finally, a country’s regulation and taxation policies can also affect the local availability of coal. A country imposing high taxes on coal can make it less competitive with other energy sources. As a result, it is important to consider all of these factors when assessing the local availability of coal.
5. Jobs
The coal industry employs millions of people worldwide, both directly and indirectly. In the US alone, the coal industry supported around 160,000 jobs in 2018, according to the National Mining Association.
The coal industry has long been an important part of the American economy. Jobs in the coal industry have helped to provide families with a stable source of income and have played a role in shaping the nation’s industrial landscape. However, in recent years, the coal industry has experienced a decline. This is partly due to the rise of cleaner energy sources, such as solar and wind power. As a result, jobs in the coal industry have become increasingly scarce. Despite these challenges, the coal industry remains an important part of the American economy. The coal sector employed over 50,000 people in 2018 and contributed $5.2 billion to the national economy. The coal industry also plays an important role in global trade. In 2018, the United States exported $19 billion worth of coal. As the world continues to grapple with the issue of climate change, it is clear that the coal industry will continue to play a significant role in the global economy.
Despite its well-documented environmental impacts, coal remains an important energy source for many countries around the world. The reasons for this include its abundance, low cost, versatility, local availability, and the employment opportunities it provides. What do you think? Let us know in the comments below!