CHARLESTON, W.Va. — One unintended consequence of the sanctions imposed on Russia after its invasion of Ukraine could give West Virginia coal a huge boost.
Gov. Jim Justice said during his pandemic briefing Friday that coal is already in more demand in Europe to help backfill energy needs but “we would gladly give that up in a second if things would stop and the Ukrainian people would be free.”
Justice said thermal (steam) coal used in power plants is needed to export to areas in Europe that will feel the impact of those sanctions against Russia, including those banning coal from that country.
Steam coal prices are usually between $35 to $60 a metric ton, he said, but the cost of a metric ton headed to our ports and then to Europe two days ago hit $450…