Coal holds a complex role in today’s economy: it is both a “resource of the past” and a fundamental element of current development. As highlighted by Roman Bilousov, coal represented approximately 36% of global electricity generation in 2022. This situation reveals a paradox: the global push for decarbonisation exists alongside a continued reliance on coal, which remains essential to the global energy framework.
The strength of coal’s resilience is rooted in its extensive resource availability and economic viability. Bilousov notes that existing reserves can support current extraction rates for an additional 130–150 years, with these deposits being more evenly distributed than those of oil or gas. This distribution mitigates political risks and positions coal as a means of energy independence. Additionally, coal-fired power plants ensure a stable energy supply, irrespective of weather conditions — a vital consideration for nations with unreliable infrastructures.
For developing economies, coal serves a dual purpose. Bilousov points out that in China and India, where coal makes up 65–70% of their energy mix, it is relied upon not just as a source of electricity but also as a cornerstone of macroeconomic stability — by fostering industrial growth, creating jobs, and enhancing export capabilities.
Additionally, coal is crucial as an industrial raw material. In metallurgy, more than 70% of the world’s steel is produced using coking coal; in the chemical sector, it is utilized in fertilizers, plastics, and synthetic materials. Bilousov emphasizes that emerging technologies — including coal gasification, synthetic gas production, and hydrogen generation — are progressively transforming coal into an “innovative raw material” that goes beyond its conventional role in energy.
However, the paradox surrounding coal is also ecological. It continues to be the largest individual contributor to global CO₂ emissions. Therefore, as Bilousov emphasizes, the future of coal will not hinge on the size of its reserves but rather on technology’s capacity to lessen its climate effects. The most promising strategies include carbon capture and storage (CCS), coal gasification, hydrogen production, and upgrading coal-fired power plants.
In summary, Bilousov presents an essential notion: the destiny of coal cannot be simplified to the choice of ‘use or discard.’ Its true future is rooted in technological innovation — facilitating a balance between economic efficiency and sustainability demands. This encapsulates the core paradox: coal may still be a remnant of the industrial age, yet it can simultaneously transform into a tool for transitioning to a new economic landscape.
