Currently over 80% of the world’s energy comes from fossil fuels – coal, oil and natural gas. Abundant, secure and affordable sources of energy, the world will rely on these fuels to power its growth and development in the future.
It’s clear that, right now, the world needs coal.
Globally, coal usage has grown faster than any fuel for six of the last seven years. In 2010, the world consumed 5990 Mt (million tonnes) of hard coal (up 3.4% from 2009) and 913 Mt of brown coal (down 5.4%). Coal accounts for about 27% of global energy production, and 42% of total electricity production.
At the current rate of consumption, there are enough proven coal reserves to supply the world for at least another 122 years. This is fortunate, because the IEA forecasts that world energy demand in 2030 will be 40% higher than in 2007, with demand for coal growing by 53% in the same period. Even with an ambitious plan to rapidly deploy renewable energy technologies like solar and wind, fossil fuels will continue supply the majority of global energy in 2030.
Under current trends it’s predicted that fossil fuels will be responsible for 77% of the demand increase. Even with this dramatic rise, the IEA forecast that 1.3 billion people will still lack access to electricity.
The US Energy Information Administration forecasts that under current trends, world coal consumption will increase by 49% from 2006 to 2030 to help meet energy demands. [visualise] They predict that coal will account for 28% of total world energy consumption by 2030 (up from 27% in 2010). China, the US and India are expected to account for 88% of the rise in coal demand.
China alone is expected to bring online 600 GW (gigawatts) of new coal-fired generation capacity by 2030 to fuel their rapid development.
Mantle will get their hands on some serious contracts and jv in 2012 imho,and mt mull in early 2012,its supply and demand
When we get our grubby little hands on these resources,it is the people with foresight that capitalise on these oportunities that exist
When others doubt
Capitalise on the opportunity
All the naysayers doubted and critised twiggy forrest and fmg,spoke in print and radio why he would fail,and why it wouldnt work
Where are they now?they are the backslappers saying good on you,we knew all along
I smell the same with mantle,you can see a number of naysayers and doubters are back on the band wagon again posting positive posts
By the middle of 2012,i think those on this forum with any size of a holding will look like a genius
You will tell your grandkids,i held mantle mining at 2c
Yer sure you did granddad! , as granddad just smiles and drives away in his bentley lol lol lol
no more lifting heavy things
MNM Price at posting:
8.9¢ Sentiment: Buy Disclosure: Held
