Europe Favouring Coal Over Natural Gas

Bloomberg reported that Europe is not following the natural gas usage trend in the U.S. and Asia, and is instead using less expensive coal imported from the U.S.

As quoted in the market report:

European utilities’ preference for burning coal to generate electricity is pushing up carbon emissions even after the region invested twice as much in renewable energy as the U.S. since 2004. In Europe, gas costs three times as much as in the U.S., cutting competitiveness at industrial users such as Germany’s BASF SE (BAS), the world’s largest chemical maker.

To view the whole Bloomberg report, click here.