America Bets $50 Billion on Coal and Gas Power as Electricity Demand Soars

U.S. companies are set to spend some $50 billion on power generation from coal and natural gas this year, the International Energy Agency has said, as quoted by the Financial Times. This would be the first time in decades that U.S. spending on coal and gas generation would be higher than what China is investing in the two fuels, with the difference at $3 billion. The surge in spending will come mostly from much stronger demand for gas turbines amid a data center boom in the United States, the FT noted in its report. According to the IEA, U.S. companies…