interesting extracts from the whitehaven chairmens address:...

interesting extracts from the whitehaven chairmens address:

"Whitehaven Coal remains upbeat about the outlook for Australian coal exports and expects to receive a boost from its controversial Maules Creek coal mine.
Chairman Mark Vaile says global demand for coal will continue to rise steadily, with prices to recover significantly over the medium term.
"Australian exports are estimated to rise to 437 million tonnes by full year 2019, up from 336 million tonnes in full year 2013, and prices are forecast to have recovered significantly from present levels over this period,

Coal is Australia’s second largest export commodity, and is the world’s most reliable source of cost-effective
energy – underpinning economic growth and increased standards of living in many countries around the globe.
This is an important point and one that many of the ideologically driven critics of coal choose to ignore.
We in the developed world have relied on coal to produce the products we now take for granted every day.
Cars, mobile phones, homes, power to heat our homes… It is not for us the rich western world to deny people
in developing nations’ access to affordable energy sources which is a key to eliminating poverty.
Over the longer-term, coal will continue to play a critical role in the global energy mix and will likely remain the
dominant source of energy around the world for the foreseeable future

Nearly 3.5 billion people in the world have limited or no access to electricity
Coal is the lowest cost source of electricity for many countries around the world
BP expects world coal demand to increase by 1.5Bt from 2012 to 2035 when coal demand is expected to reach 6.8Btpa
A significant portion of the demand growth (1.1Bt) will come from increased electricity generation in developing countries as those countries lift their population out of poverty
“For many parts of the world, fossil fuels are still vital and will be for the next few decades, because they are the only means to lift people out of the smoke and darkness of energy poverty”
Bjorn Lomborg, political scientist, economist and founder
and president, Copenhagen Consensus Center