In this episode we analyze global coal market dynamics, from hitting unprecedented demand in 2022 to potentially peaking in 2023 before projected declines set to start in 2024. We unpack complex factors driving volatility - from rising Asian dominance and supply shocks to high prices and adverse weather. As the coal industry stands at an historic turning point, we examine its precarious pivot between record highs and forecasts of slowing growth, underscoring uncertainties that will shape its global trajectory amid energy transitions.