Some more good reading about the future of coal.Bloomberg...

Some more good reading about the future of coal.


Bloomberg reported that economic global coal reserves will run out faster than expected because of overly optimistic estimates and accelerating demand and leading to a surge in prices.

Mr Richard Heinberg and Mr David Findley fellows at the Post Carbon Institute in Santa Rosa, California wrote in an article in the magazine that ?The inevitable result of soaring demand and dwindling supply will be rising coal prices globally, even in nations that are currently self-sufficient in the resources. Energy policies relying cheap coal have no future.?

According to Mr Heinberg and Mr Findley China, the world biggest producer and consumer of coal have coal resources of 187 billion tonnes, second to the US.

Mr Heinberg and Mr Findley said ?But the overwhelming global trend, as revealed by national coal surveys over the past few decades is for the size of countries? estimated reserves to shrink as geologists uncover restrictions. Coal consumption is accelerating fast. This renders meaningless reserves lifetime figures calculated on the basis of flat demand.?

Mr Heinberg and Mr Findley said citing scientific studies that the peak of world coal supply may be only years away as the world highest quality and most accessible coal reserves are depleted in light of growing demand.

Good luck to all that hold RES!