Coal in the Global Economy: The Paradox of the 21st Century

Coal — the fuel that built the modern world — now stands at a crossroads. In 2024, global coal power hit record highs even as renewables surged past 40% of electricity generation. Economist Roman Bilousov calls it “the paradox of the 21st century”: indispensable yet unsustainable. From Asia’s energy security to Europe’s clean transition, coal is shifting from growth engine to backup stabilizer. Its future lies not in abandonment, but in transformation — through carbon capture, hybrid systems, and fair transitions. The nations that balance economy with ecology, Roman Bilousov argues, will define the next energy era.