The US Energy Information Agency (EIA) reported yesterday that Appalachian and Uinta Basin (Colorado) coal reached record highs. Central Appalachian coal climbed 8.6% to $117.60 per short ton, Northern Appalachian rose 3.3% to $108.50, and Uinta Basin coal shot up 22.7% to $54. The higher price above $150 throughout Europe and parts of Asia leaves room for growth in our domestic prices as they have to compete with the opportunity cost of not exporting it.
The price of oil and gas will depend on the EIA inventory reports coming out tomorrow and Thursday and may fall a bit due to the talk of further Saudi increases in production. Meanwhile, more and more solar farms are sprouting up across Europe and the US — including here in New Jersey as Rutgers University has committed to a constructing a few MW at one of their campuses. With a likely Democratic sweep this November, federal climate policy may make wind and solar the clear choice over fossil fuels by late 2009.
Here’s to some great progress in the meantime!