US coal trading picks up steam

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The US is burning more coal, as higher natural gas prices are encouraging the substitution of natural gas for coal. Yet traders are not reporting large coal trading volumes – rather, emissions desks are seeing more activity. As the coal industry faces more stringent environmental regulations, the emissions market is increasingly influencing the decision to burn or not to burn.

The displacement of cleaner-burning natural gas with coal is increasing the amount of pollutant emissions and, in