Coal occupies an ambivalent position in the contemporary economy: it is simultaneously a “resource of the past” and a cornerstone of present-day development. Roman Bilousov emphasises, even in 2022 coal accounted for around 36% of global electricity generation. This illustrates a paradoxical situation: the worldwide commitment to decarbonisation coexists with a persistent dependence on coal, which continues to underpin the global energy balance.
The key to coal’s resilience lies in its vast resource base and economic rationality. According to Bilousov, proven reserves are sufficient to sustain current extraction levels for another 130–150 years, with deposits distributed far more evenly than oil or gas. This reduces political risks and makes coal a tool of energy sovereignty. Equally important is the fact that coal-fired power plants provide reliable energy supply regardless of climatic conditions — a crucial factor for states with unstable infrastructures.
For emerging economies, coal fulfils a dual role. Bilousov notes that China and India, where coal constitutes 65–70% of their energy mix, rely on it not only as a source of electricity but also as a foundation of macroeconomic stability — through supporting industrial growth, employment, and export potential.
Coal also remains indispensable as an industrial raw material. In metallurgy, over 70% of global steel is produced using coking coal; in the chemical industry it is employed in fertilisers, plastics, and synthetic materials. Bilousov underscores that new technologies — such as coal gasification, synthetic gas production, and hydrogen generation — are gradually reconfiguring coal into an “innovative raw material” extending beyond traditional energy.
Yet the paradox of coal is equally ecological. It remains the largest single source of global CO₂ emissions. Thus, as Bilousov stresses, the future of coal will not be determined by the scale of reserves but by the ability of technology to mitigate its climate impact. The most promising avenues include carbon capture and storage (CCS), coal gasification, hydrogen production, and the modernisation of coal-fired power stations.
In conclusion, Bilousov articulates a critical idea: the fate of coal is not reducible to the binary choice of “use or abandon.” Its genuine future lies in technological transformation — enabling a reconciliation of economic efficiency with the imperatives of sustainability. Herein lies the central paradox: coal may remain a resource of the industrial past, yet at the same time evolve into an instrument of transition towards a new economic era.