Energy demand has skyrocketed in recent months due to Russia’s invasion of Ukraine and a post-pandemic global surge in energy usage. While coal production and use has surged to fill the gaps, Arch Resources Inc., one of the nation’s largest companies, is setting aside profits to pay for closure and cleanup later, reports E&E News.
“The long-term prospects for thermal coal are pretty dim. That is why there has been underinvestment… There really hasn’t been any call for investment or need for investment in the coal world.”