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Javier Blas

Far From Dying, the Coal Industry Is Actually Booming

It’s losing market share in power generation but not the ability to foul up the planet. 

Good as gold but bad for the air.

Good as gold but bad for the air.

Photographer: Dimas Ardian/Bloomberg

In late 2021, diplomats spent hours arguing over whether to "phase-out" or "phase-down" coal in the final communique of the COP26 climate change summit. Under pressure from China and India, the watered-down second choice prevailed. Still, it was good enough for the United Nations to proclaim that the dirtiest fuel was being "consigned to history."

Nothing is further from reality.