Various global factors are in play in the energy situation as the Russian invasion of Ukraine washes through, OPEC drops oil production to ‘support’ prices, and coal-fired power plants are re-started in Europe, all boosting demand and the price for coal. While there is an inevitable move to renewable energy sources, fossil fuels of local interest are finding markets and investors – Whitehaven Coal shares have risen dramatically, bringing their year-to-date gains to more than 320 per cent, and the Santos share price is now up about 20 per cent since the start of the year.
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