The world's largest private sector coal company, Peabody Energy (BTU +0.00%), released its 2012 earnings this morning, much to the delight of the markets. What drove the stock up big today? Record revenues, for one. Couple that with tremendous news out of its Australian operations and record coal imports into China and you have a recipe for success in the coal industry. Long-term forecasts that came out late last year and earlier this year continue to expect heavy reliance on coal, especially in developing markets. Motley Fool analyst Taylor Muckerman dives deeper into the miner's earnings shaft in the video below.