GUJ/INR is just going to keep going up .... GUJO are a steal ATM.
They are perfectly positioned to benefit from the massive current worldwide demand for coal:
Coal comfort for oil users
The Paris-based IEA says the high price of oil and gas has forced China and India to turn to coal for their rapidly growing power generation sector.
"Coal sees the biggest increase in demand in absolute terms, jumping by 73 per cent between 2005 and 2030," the report says. Demand for coal is tipped to rise from 4.154 billion tonnes of coal in 2005 to 7.173 billion tonnes in 2030 - an average annual rate of increase of 2.2 per cent.
China and India, which already account for 45 per cent of coal used between 2000 and 2006, will account for 80 per cent of future increases.
By 2030, China's net imports will represent 3 per cent of its total demand and 7 per cent of global coal trade. By then, China's coal imports are expected to reach 92 million tonnes a year.
The IEA says China's energy resources, especially coal, are extensive but will not meet all the growth in its energy needs.
In India, the IEA says, coal will remain the most important fuel and its use will almost treble from 2005 to 2030.
"Coal imports will increase almost sevenfold, accounting for 28 per cent of India's total coal needs in 2030 - up from 12 per cent in 2005." India will consume 18 per cent of internationally traded coal by 2030.
India's power generation capacity, most of it coal-fired, is forecast to more than treble in the next 25 years.
The IEA says India's steel sector will certainly continue to rely on imported coal for its quality. As well, the coal mines are long distances from steel mills, which are located close to ports.
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GUJ/INR is just going to keep going up .... GUJO are a steal...
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