Coal (Coal production by coal-producing regions, 2001)

With the dawning of a new century came the beginning of a new era in the coal industry. Instead of the traditional practice of only buying and selling produced coal in the United States, a coal futures market was established. The New York Mercantile Exchange began trading coal futures in July 2001. But, even in this new era, many of the old is-sues that have beset the coal industry still remain, as was evident in2001. Coal production increased to are cord level during 2001, according to preliminary data from the US Energy Information Administration(EIA). Production in 2001 rose by4% to 1.01 Gt (1.12 billion st), compared with 2000 (Table 1). This barely surpassed the previous record level of 1 Gt (1.11 billion st)set in 1998. Coal consumption remained unchanged. The additional production was used to replenish the depleted stockpiles that had resulted after two years of declining coal production and increasing coal consumption.