Coal prices in the U.S. surged to an all-time high in March as Russia’s war in Ukraine and an economic rebound from the pandemic have sent demand for fossil fuels soaring. Labor shortages, shipping bottlenecks, and a dismal long-term outlook mean that the U.S. coal industry is struggling to take advantage of these prices. The EIA has projected that U.S. coal production will increase a mere 3% in 2022, with high prices not enough to revive the long-term outlook of the coal industry. Similar to oil and gas prices, U.S. coal prices have hit multi-year highs as Russia’s war in Ukraine and an economic rebound from the pandemic have upended international energy markets and driven up demand for fossil fuels. Indeed, U.S. coal prices surged to an all-time high of $439 per metric ton in March before pulling back to $331/ton, still good for a nearly 140% increase in […]