Coal Companies Record Surging Profits as Gulf Region Instability Drags On
Coal companies are making record profits as instability in the Gulf region continues to disrupt normal energy flows and force countries to seek alternative energy sources. The ongoing U.S.-Iran war has resulted in the closure of the Strait of Hormuz, a channel through which 20-25% of the world’s crude oil and petroleum passes every single day. Countries reliant on fossil fuel imported from the Middle East are scrambling for suitable alternatives, especially now that Iran has said it will keep the Strait closed until the United States accepts its demands. In South Africa, thermal coal producer and exporter Thungela said…
