Prices increase the global energy crisis and flirt with double-digit inflation. 

According to the data revealed by the Investing During this Thursday, June 09, the variation that coal suffered is greater than that of oil during the last 52 weeks, the mineral already has an increase above 103%. That is, it would have doubled in price in just one year, meanwhile, Brent oil has accumulated 65% and directly impacts the value of diesel and gasoline. According to a survey carried out by the International Monetary Fund, the IMF, it is estimated that the end of the use of coal for power generation could make the world out of the energy crisis and have an economy, by the end of this century, over US$ 70 billion. 

However, many countries are reluctant to make the energy transition, even if coal and oil prices are high. A proof of this is the Colombian government: the extraction of these two raw materials is equivalent to more than 8% of the value of the Gross Domestic Product (GDP). However, the candidate for the Colombian presidency, who received 40% of all voting intentions during the last weekend, Petro, claims to be against exports and defends the use of renewable sources so that they can achieve climate goals by the end of year 2030. 

Economics: What made the value of commodities skyrocket, particularly coal and oil? 

The war that broke out between Russia and Ukraine towards the end of February caused the value of commodities to inflate. Numerous countries that were against Putin's decision decreed that they would cut partnerships with the Russians for going "against the democracy of allowing Ukrainians to be part of military groups like NATO". 

With the value of Brent oil quoted at US$ 123 this week, many countries began to raise the possibility of breaking the blockade that the United States held on Venezuela in the Trump government. Venezuela can be a way to control global market prices by increasing inventories of barrels of oil. According to what the European Union declared this week, Venezuelans will be able to sell barrels to the EU as a way of paying off the foreign debt created during ideological tensions.

Biden had already indirectly announced, during the month of March, that he could remove the US blockade on Venezuelans as a way to buy a part of the oil sold by the country. 

It is already clear that the export of oil from Venezuela could cause prices to fall and world inflation to be controlled. This happens because, the less stocks there are in the market, the greater the value of the product tends to be, in view of its high demand. But if you increase oil inventories, even with high demand, the value can be controlled. 

Renewable energy has been an alternative to the use of coal 

In view of the 103% increase in just one year over coal, the use of renewable energy, such as wind and solar, can be an alternative for countries to maintain energy stability without having to use the mineral. However, investment is still expensive and both commodities, mineral and Brent, are part of the economy of developing countries, such as Brazil.