Coal is a nonrenewable resource known as a fossil fuel. It’s the most abundant fossil fuel we have.The four types of coal include peat, lignite, bituminous, and anthracite, with anthracite being most desirable due to its high heat content.
As a fossil fuel burned for heat, coal supplies about a quarter of the world’s primary energy and two-fifths of its electricity.Some iron and steel making and other industrial processes burn coal.
Coal as a traded commodity. Coal futures contracts provide coal producers and the electric power industry an important tool for hedging and risk management.