Since its launch on Jan. 14, the Market Vectors Coal (KOL) exchange traded fund (ETF) has been bouncing around, which is a reminder of the commodity’s volatility and risk.

Oil is getting all the press lately, which has allowed coal to fly under the radar, despite the fact that demand for it is surging, reports John Spence for MarketWatch. China, India and other developing nations feed the demand for coal, while in the United States, half of the electricity is provided by it.

Coal is tied to a number of international factors, says Joseph LaCorte, chairman of the Stowe Index Committee. This includes the high price of oil, expected consumption from China and India and overall global economic development. Coal produces 25% of the world’s energy needs and accounts for 40% of global energy consumption.

While it’s not as attention-getting as oil, it’s a commodity to keep an eye on as the global economy grows, technologies to produce cleaner coal evolve and demand continues.

Tags: Asia, China, Coal, Commodity ETFs, Emerging Markets, Energy, India, KOL, Metals & Mining, Oil