The chief executive of an American coal company couldn’t find the words to describe how commodity prices in his industry have increased to sky-high levels.
The value of coal has increased 10-fold, from about $50 US per tonne to $500 over a two-month span, said Ernie Thrasher with Xcoal Energy & Resources, while on stage at the CERAWeek energy conference in Houston last week.
“There’s just not enough to go around,” he said.
“People are scrambling.”
The Russian invasion of Ukraine has had an impact on many commodities, from oil to wheat, but the ripple effect may be the most substantial
