This year, U.S. coal prices have staged a fierce comeback amid renewed global demand and supply cuts. As parts of Europe and Asia face a growing energy crisis, industry observers project that the fossil fuel’s gains could be extended into 2022, prompting more countries to increase production and shipments. Coal futures on Oct. 5 surged to fresh record highs of $269.50 per metric ton, lifting their year-to-date gains above 200 percent. Across the globe, the black combustible sedimentary rock is soaring: European coal is trading at a 13-year high, Australian Newcastle coal rallied 230 percent, and Chinese thermal coal prices have hit new all-time highs. While demand is intensifying worldwide, coal inventories are presently insufficient to satisfy consumption. The temporary panacea has been to boost output, support foreign shipments, and increase investments in coal power plants. How the World is Responding American utility companies have switched to coal in response …