Asia Burns More Coal as Middle East War Sends LNG Prices to 3-Year Highs

Coal is back with a bang in Asia’s power generation, as countries scramble to contain the LNG supply shortage due to the war in the Middle East. Coal hasn’t really left most Asian economies, which rely on the fuel for much of their power generation. Amid the squeeze of natural gas supply due to the de facto closed Strait of Hormuz and the sky-rocketing LNG prices that few buyers in Asia can afford, nations are scrapping previous restraints to the use of coal-fired power generation. Developed economies like Japan and South Korea are…