Mar. 24 at 9:39 PM
$CNR $BTU the real driver behind the massive global pivot to #coal isn't just a temporary shipping bottleneck in Hormuz. It is extensive physical damage to key Gulf gas and LNG infrastructure.
These facilities have sustained damage that will take significant time and capital to rebuild. We are not looking at a transient logistical disruption, so this is a prolonged supply vacuum. Until those export terminals and pipelines are fully rehabilitated, global power grids are mathematically forced into an extended reversion to thermal coal (switch from nat gas) just to keep the lights on.
