Greg Sheridan in WE AUST today (extract):
A PRICE TO PAY FOR CLIMATE FANTASY
….
’So now I must face the truth about coal. Surely its use has declined?
But what do you know? According to the IEA: “Global coal consumption reached an all-time high in 2022, and the world is heading towards a new record in 2023.”
Advanced economies such as the US and the EU are using less coal but, says the IEA, “the growth in China and India, as well as Indonesia, Vietnam and The Philippines, will more than offset these decreases on a global level”. And the price of coal, at $US140 a tonne, is very healthy.
That’s a good thing because our top three export earners are coal, iron ore and gas. We couldn’t afford any fancy green measures, or Medicare, or the National Disability Insurance Scheme, or anything else, without the minerals industry.
According to the IEA, fossil fuels make up about 80 per cent of global energy, just a tick under their level 10 years ago….’
NHC Price at posting:
$4.65 Sentiment: Buy Disclosure: Held
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(20min delay)