Report:
China coal decline continues as economy flatlines Analysis: China's national carbon market: When, where and how?
Not exact matches
Progress in a few areas has been solid: slashing of bureaucratic red tape has led to a surge in new private businesses; full liberalization of interest rates seems likely following the introduction of bank deposit insurance in May; Rmb 2 trillion (US$ 325 billion) of local government debt is being sensibly restructured into long - term bonds; tighter environmental regulation and more stringent resource taxes have contributed to a surprising two - year
decline in
China's consumption of
coal.
Interestingly enough, the
decline in
coal consumption in
China appears to continue.
The
decline in
coal consumption fits an overall pattern seen in
China over the past few years, which suggests that
China is running out of high quality
coal.
China remains a towering presence in
coal markets, but our projections suggest that
coal use peaked in 2013 and is set to
decline by almost 15 % over the period to 2040.
Cele notes that, «the demand from
China for iron - ore continues to grow, but at a
declining pace, further exacerbating pricing pressure,» meaning that Vale's considerable investment in nickel,
coal, fertilisers and copper will only partially mitigate the impact of the increase in iron - ore mining capacity globally on the company.
But his best case scenario — if Rick Perry succeeds in bailing out
coal plants, if Pruitt's regulatory rollbacks pass legal muster, if
China's mounting efforts to ditch
coal fail — is that US
coal's
decline is temporarily arrested.
Locals say that, in addition to trade deals and the rise of
China, part of the reason for job losses is the
declining fortunes of
coal, which is what brought the aluminum industry to Kentucky in the first place.
Coal consumption continues apace hence it would appear that the production decline is not demand led but rather that China may be approaching peak c
Coal consumption continues apace hence it would appear that the production
decline is not demand led but rather that
China may be approaching peak
coalcoal.
The local sharemarket was led down by metals and mining stocks as exports of iron ore and
coal to
China declined.
A
decline in
coal consumption in
China for two consecutive years would be the first since 1982.
The International Energy Agency estimated last year that both the
decline in
China's
coal use and falling electricity demand reduced its carbon dioxide emissions by 1.5 percent in 2014, leading to a 0.2 percent reduction in global emissions.
And the impact of
China's
decline in
coal use may go beyond the border.
Coal production saw the largest year - on - year
declines on record for both
China (down 140Mtoe, 7.7 %) and the US (84Mtoe, 18.8 %).
There was also a record
decline in global
coal production, driven by low prices globally and then mining controls in
China, which saw
coal markets rally.
Meanwhile,
coal production fell by a record 231Mtoe (5.9 %), as massive output
declines continued in the US and
China worked to reduce overcapacity and combat air pollution.
«
China is building
coal - fired power stations but it's also closing many of the older ones down, which is why its overall
coal use is
declining — the more significant point is it's now building the clean energy equivalent of one
coal - fired power station every week, and will do for the next 15 years.»
China's
coal use
declined 3.7 % in 2015, according to official statistics released by the Chinese government today.
An early estimate published in Nature, based upon low Chinese
coal consumption for the first eight months of the year, found that
China's emissions
declined by 3.9 % in 2015, with global emissions correspondingly shrinking by 0.6 %.
In 2014,
China's
coal use
declined by 2.9 %.
China's emissions
declined by 1.5 %, mainly due to less
coal being burned.
While the past few years have seen similar increases in natural gas and oil consumption in
China, 2017 will reverse a few years of flat or
declining coal consumption.
Globally,
coal - fired projects under development saw a steep
decline between 2016 and 2017, led primarily by policies aimed at fighting air pollution in developing countries like
China and India.
In
China, emissions
declined by 1.5 %, as
coal use dropped for the second year in a row.
With an average
coal mine depth of approx 500 meters in
China (450 in 2009 and going deeper at the rate of 8 - 10 meters per year), the economics of extracting
coal in
China is
declining.
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The Institute of Economics and Financial Analysis (IEEFA)'s demand analysis shows how
China's
coal demand could surprise people by peaking in 2016 and then
decline gradually thereafter, driven by efficiency measures, increased renewables, hydro, gas and nuclear and tougher policies to cut air pollution.
«Moreover, with the recent
decline in
coal consumption and robust renewable energy development,
China is positioning itself at the front of climate leadership.
This came after an article in Energy Matters, 2016/03/03, that cited a «Statistical Communique Of The People's Republic of
China» in reporting a 3.7 percent
decline in
coal consumption in 2015 following a
decline of 2.9 percent in 2014.
In addition,
China has met its 2020 emissions reductions goal three years early (noting, though, that while
coal use in
China is
declining, Chinese companies are working to build and finance the construction of
coal - fired power plants elsewhere, like this project in Kenya.)
BHP and Rio have been cutting back plans for
coal expansion because of
declining demand and outlook for
coal, caused mostly by a reassessment of
China's appetite for imports.
Coal, which is in wide use for power generation in China, has always been cheaper than renewables, but the 40 - 60 percent decline in coal prices over the past few years hasn't dented growth in China's renewable energy business, he no
Coal, which is in wide use for power generation in
China, has always been cheaper than renewables, but the 40 - 60 percent
decline in
coal prices over the past few years hasn't dented growth in China's renewable energy business, he no
coal prices over the past few years hasn't dented growth in
China's renewable energy business, he noted.
China is the world's largest consumer of
coal, but
coal use is projected to
decline in
China by 0.6 % / year from 2015 to 2040, and in the combined OECD countries
coal also
declines by 0.6 % / year over that same period.
Then you have signs that Chinese
coal imports had fallen, reports from Greenpeace that
coal consumption was down, and figures showing
China's own
coal production was in
decline too.
From
China's
coal use
declining to massive corporations aiming for 100 % renewables.
Given that many nations are already seeing overall energy consumption and
coal use
decline (over and above any impact of an economic slowdown), this latest announcement is a very welcome confirmation that
China is also benefitting from this rapid transition.
Due to
China's air pollution crisis, mainly caused by massive
coal burning, 10 of
China's 34 provinces have pledged to peak and
decline their
coal consumption by 2017 and have banned the construction of new
coal - fired power plants.