Demand in China and a host of other factors are pumping coal prices to new levels, according to the Wall Street Journal.
As a result, coal prices could begin to push up the price of electricity, food, imports and other products that directly or indirectly rely on coal-burning power plants. (Coal supplies 40 percent of the world's electricity and roughly 50 percent of the U.S.'s electricity.) Demand is growing so fast that China in fact imported more than it exported in the first half of 2007 last year. Oil has already contributed to rising prices.
Thermal coal … Read more