interesting article about coal

There was an interesting article in yesterday's Australian paper on Coal, "Hopes come apart at the seams"

The article was inside the future of energy page 3.

The highlights are below.

The global demand outlook for coal has never looked rosier thanks to Asia's urbanisation and industrialisation.

According to estimates by the world's biggest private-sector
coal producer US and Australian producer Peabody Energy, annual world coal demand will grow by 1.4 BILLION TONNES from 7.6 billion tonnes last year, to nine billion tonnes in 2017.

The forecast is underpin by expectation of a 20% increase in global steel production, and a 450-gigawatt increase in new coal-fired power generation.

India's coal-fired power stations increased by 9% in the 1st quarter, its domestic coal production has been struggling to keep up with growing demand, all of which supported a 25% increase in coal imports in the 1st quarter.

The net result is forecasters are predicting that COAL WILL OVER TAKE AS THE WORLDS BIGGEST ENERGY SOURCE THIS YEAR.



Good luck to all that hold RES