From Investing.com: 2024-11-10 03:00:00

Analysts at Wells Fargo highlight the continued reliance on coal in emerging markets like China and India, despite reductions in North America and Europe. Since 2005, coal use has halved in the West but nearly tripled in India. China, India, and Southeast Asia now make up 75% of global coal demand.

Despite environmental concerns, coal remains crucial for economic growth in emerging markets. China’s domestic power consumption is 53% coal-based. While China is investing in green energy, the transition will take time. Wells Fargo predicts fossil fuels will remain essential for many economies.

Wells Fargo anticipates investment opportunities in hydrocarbons as demand persists in emerging markets. The global energy transition towards greener fuels is ongoing, but fossil fuels are expected to remain dominant in many economies. Higher prices for petroleum and coal are likely as demand continues to support investments in these sectors.



Read more at Investing.com: Emerging-market energy transition likely to take time By Investing.com