Coal the heat and pressure of deep burial causes the loss of water, methane and carbon dioxide and an increase in the proportion of carbon. Thus first lignite (also called "brown coal"), then sub-bituminous coal, bituminous coal, and lastly anthracite (also called "hard coal" or "black coal") may be formed. The wide, shallow seas of the Carboniferous Period provided ideal conditions for coal formation, although coal is known from most geological periods. The exception is the coal gap in the Permian–Triassic extinction event, where coal is rare. Coal is known from Precambrian strata, which predate land plants—this coal is presumed to
Coal of dollars. The economies most damaged by coal (via climate change) may be India and the US as they are the countries with the highest social cost of carbon. Bank loans to finance coal are a risk to the Indian economy. China is the largest producer of coal in the world. It is the world's largest energy consumer, and coal in China supplies 60% of its primary energy. However two fifths of China's coal power stations are estimated to be loss-making. Air pollution from coal storage and handling costs the USA almost 200 dollars for every extra ton stored, due