In a report released in late June, the Sierra Club said runaway plant construction costs and rising
global coal prices have made the plants financially risky investments.
The oil price collapse, which follows a drop in
global coal prices, shows that the global fossil fuel sector is presently one of the world's riskiest asset classes.
Not exact matches
With high oil
prices persistently poised to derail the
global economy, with large economies like Germany and Japan swearing off nuclear in the wake of the Fukushima Daiichi disaster, with
coal hampered by looming emissions caps, unexpectedly abundant gas seems poised to fill the energy void.
The resulting plunge in
coal prices has turned into hard times for
global coal miners.
Rapid growth in
global steel demand has also boosted contract
prices for other bulk commodities; coking
coal contract
prices increased, on average, by 25 — 35 per cent in US dollar terms in recent negotiations, while iron ore contract
prices have risen by close to 20 per cent.
For the time being, much of the analysis on the financial losses focuses on the plunge in oil and
coal prices, and the potential that a huge portion of the
global reserves of oil, gas, and
coal will be «stranded» in the ground to curb climate change.
At one point this year,
global prices for metallurgical
coal (used to make steel) tripled, while
prices for thermal
coal (used to generate electricity) doubled.
The stark drop in natural gas
prices from an all - time high of more than $ 15 per 1,000 cubic feet in 2005 to near $ 4 today results from a range of factors including the
global economic downturn, competitive
coal prices, unusually warm winters, the improvement of hydraulic fracturing («fracking») drilling techniques, and the production of natural gas as a byproduct when drillers frack for petroleum.
Newcastle spot
prices, essentially the
global benchmark
price for
coal, have fallen from a peak of more than $ 140 a ton in early 2011 to less than $ 70 a ton.
As a result of the strong
global demand for steel, coking
coal producers negotiated an increase of around 120 per cent in contract
prices, with iron ore contract
prices generally rising by more than 70 per cent (Graph 39).
But stalled indigenous energy production, especially
coal (Figure 3), means that China is dipping deeper into the
global energy market and that should support
prices and offset the deceleration in consumption.
The industry has faltered because of declining
global demand and low natural gas
prices, which have encouraged electric power companies to use gas instead of
coal to generate electricity, said Ray Rasker, executive director of Headwaters Economics, an independent research group focusing on the economic implications of land management decisions in the West.
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.
Now Mongolia — nicknamed «Minegolia» for its vast mineral wealth — suffers as
global prices for
coal and copper plummet.
Luxembourg had ArcelorMittal, which slumped with the
global steel industry as
prices for coking
coal and iron ore rose.
I know some here will decry that I am not talking about the issues because I do not try to obsfuscate with a discussion of the spot market
price of
coal vs long - term contracts, or use of coal in locations other than Kansas, or Al Gore's footprint, but the issue of Global Warming IS politics (non-ratification of Kyoto and negative flag - waving ads about politicians who oppose coal), it IS public relations («Clean Coal», cleanest coal - fired plants, surface mining and mountain - top reoval rather than strip mining, etc.), and it IS about misrepresentation (Peobody framing the debate as coal vs NG when it is really coal vs every other energy source), and it IS about greed (the coal industry doing everything it can to scuttle every other energy alternati
coal vs long - term contracts, or use of
coal in locations other than Kansas, or Al Gore's footprint, but the issue of Global Warming IS politics (non-ratification of Kyoto and negative flag - waving ads about politicians who oppose coal), it IS public relations («Clean Coal», cleanest coal - fired plants, surface mining and mountain - top reoval rather than strip mining, etc.), and it IS about misrepresentation (Peobody framing the debate as coal vs NG when it is really coal vs every other energy source), and it IS about greed (the coal industry doing everything it can to scuttle every other energy alternati
coal in locations other than Kansas, or Al Gore's footprint, but the issue of
Global Warming IS politics (non-ratification of Kyoto and negative flag - waving ads about politicians who oppose
coal), it IS public relations («Clean Coal», cleanest coal - fired plants, surface mining and mountain - top reoval rather than strip mining, etc.), and it IS about misrepresentation (Peobody framing the debate as coal vs NG when it is really coal vs every other energy source), and it IS about greed (the coal industry doing everything it can to scuttle every other energy alternati
coal), it IS public relations («Clean
Coal», cleanest coal - fired plants, surface mining and mountain - top reoval rather than strip mining, etc.), and it IS about misrepresentation (Peobody framing the debate as coal vs NG when it is really coal vs every other energy source), and it IS about greed (the coal industry doing everything it can to scuttle every other energy alternati
Coal», cleanest
coal - fired plants, surface mining and mountain - top reoval rather than strip mining, etc.), and it IS about misrepresentation (Peobody framing the debate as coal vs NG when it is really coal vs every other energy source), and it IS about greed (the coal industry doing everything it can to scuttle every other energy alternati
coal - fired plants, surface mining and mountain - top reoval rather than strip mining, etc.), and it IS about misrepresentation (Peobody framing the debate as
coal vs NG when it is really coal vs every other energy source), and it IS about greed (the coal industry doing everything it can to scuttle every other energy alternati
coal vs NG when it is really
coal vs every other energy source), and it IS about greed (the coal industry doing everything it can to scuttle every other energy alternati
coal vs every other energy source), and it IS about greed (the
coal industry doing everything it can to scuttle every other energy alternati
coal industry doing everything it can to scuttle every other energy alternative).
Today's sobering story on how economic turmoil could blunt climate - friendly energy plans, by Elisabeth Rosenthal, implies that a new kind of climate and energy trance may indeed be nigh — not one created just by dropping
prices for
coal and oil but also by the urgency of a
global economic retreat.
However, in response to high
global prices — especially for coking
coal — in the Asian market, export production has been increasing.
Coal companies have lost more than 90 percent of their value since the global coal bubble in 2011, and many companies have declared bankruptcy due to collapsing demand, oversupply on the international market, cheap natural gas prices, and new environmental regulati
Coal companies have lost more than 90 percent of their value since the
global coal bubble in 2011, and many companies have declared bankruptcy due to collapsing demand, oversupply on the international market, cheap natural gas prices, and new environmental regulati
coal bubble in 2011, and many companies have declared bankruptcy due to collapsing demand, oversupply on the international market, cheap natural gas
prices, and new environmental regulations.
Most of this is supplied by the state monopoly
Coal India, which sell it at a 44 percent discount to
global prices.
This downward slope in
price has continued to decline from 2014 to 2017 with more solar projects moving toward the
global average
coal and gas LCOE range.
For example, there was a rapid increase in US
coal prices due to rising
global demand before 2008, then a rapid fall after 2008 when
global demands declined [23].
(11/15/07) «Ban the Bulb: Worldwide Shift from Incandescents to Compact Fluorescents Could Close 270
Coal - Fired Power Plants» (5/9/07) «Massive Diversion of U.S. Grain to Fuel Cars is Raising World Food
Prices» (3/21/07) «Distillery Demand for Grain to Fuel Cars Vastly Understated: World May Be Facing Highest Grain
Prices in History» (1/4/07) «Santa Claus is Chinese OR Why China is Rising and the United States is Declining» (12/14/06) «Exploding U.S. Grain Demand for Automotive Fuel Threatens World Food Security and Political Stability» (11/3/06) «The Earth is Shrinking: Advancing Deserts and Rising Seas Squeezing Civilization» (11/15/06) «U.S. Population Reaches 300 Million, Heading for 400 Million: No Cause for Celebration» (10/4/06) «Supermarkets and Service Stations Now Competing for Grain» (7/13/06) «Let's Raise Gas Taxes and Lower Income Taxes» (5/12/06) «Wind Energy Demand Booming: Cost Dropping Below Conventional Sources Marks Key Milestone in U.S. Shift to Renewable Energy» (3/22/06) «Learning From China: Why the Western Economic Model Will not Work for the World» (3/9/05) «China Replacing the United States and World's Leading Consumer» (2/16/05)» Foreign Policy Damaging U.S. Economy» (10/27/04) «A Short Path to Oil Independence» (10/13/04) «World Food Security Deteriorating: Food Crunch In 2005 Now Likely» (05/05/04) «World Food
Prices Rising: Decades of Environmental Neglect Shrinking Harvests in Key Countries» (04/28/04) «Saudis Have U.S. Over a Barrel: Shifting Terms of Trade Between Grain and Oil» (4/14/04) «Europe Leading World Into Age of Wind Energy» (4/8/04) «China's Shrinking Grain Harvest: How Its Growing Grain Imports Will Affect World Food
Prices» (3/10/04) «U.S. Leading World Away From Cigarettes» (2/18/04) «Troubling New Flows of Environmental Refugees» (1/28/04) «Wakeup Call on the Food Front» (12/16/03) «
Coal: U.S. Promotes While Canada and Europe Move Beyond» (12/3/03) «World Facing Fourth Consecutive Grain Harvest Shortfall» (9/17/03) «Record Temperatures Shrinking World Grain Harvest» (8/27/03) «China Losing War with Advancing Deserts» (8/4/03) «Wind Power Set to Become World's Leading Energy Source» (6/25/03) «World Creating Food Bubble Economy Based on Unsustainable Use of Water» (3/13/03) «
Global Temperature Near Record for 2002: Takes Toll in Deadly Heat Waves, Withered Harvests, & Melting Ice» (12/11/02) «Rising Temperatures & Falling Water Tables Raising Food
Prices» (8/21/02) «Water Deficits Growing in Many Countries» (8/6/02) «World Turning to Bicycle for Mobility and Exercise» (7/17/02) «New York: Garbage Capital of the World» (4/17/02) «Earth's Ice Melting Faster Than Projected» (3/12/02) «World's Rangelands Deteriorating Under Mounting Pressure» (2/5/02) «World Wind Generating Capacity Jumps 31 Percent in 2001» (1/8/02) «This Year May be Second Warmest on Record» (12/18/01) «World Grain Harvest Falling Short by 54 Million Tons: Water Shortages Contributing to Shortfall» (11/21/01) «Rising Sea Level Forcing Evacuation of Island Country» (11/15/01) «Worsening Water Shortages Threaten China's Food Security» (10/4/01) «Wind Power: The Missing Link in the Bush Energy Plan» (5/31/01) «Dust Bowl Threatening China's Future» (5/23/01) «Paving the Planet: Cars and Crops Competing for Land» (2/14/01) «Obesity Epidemic Threatens Health in Exercise - Deprived Societies» (12/19/00) «HIV Epidemic Restructuring Africa's Population» (10/31/00) «Fish Farming May Overtake Cattle Ranching As a Food Source» (10/3/00) «OPEC Has World Over a Barrel Again» (9/8/00) «Climate Change Has World Skating on Thin Ice» (8/29/00) «The Rise and Fall of the
Global Climate Coalition» (7/25/00) «HIV Epidemic Undermining sub-Saharan Africa» (7/18/00) «Population Growth and Hydrological Poverty» (6/21/00) «U.S. Farmers Double Cropping Corn And Wind Energy» (6/7/00) «World Kicking the Cigarette Habit» (5/10/00) «Falling Water Tables in China» (5/2/00) Top of page
Steep
price rises for oil and gas could stymie
global demand or prolong the current
coal boom or it could all run out sooner than expected.
And Trump couldn't influence the
global commodities markets to boost
prices for metallurgical
coal or drive up worldwide steel demand.
Coal prices on the
global market have halved in the past five years.
A Feb. 2011 report, «Mining
Coal, Mounting Costs: the Life Cycle Consequences of Coal,» led by associate director of the Center for Health and the Global Environment at Harvard Medical School Dr. Paul Epstein, found that accounting for the full costs of coal would double or triple its pr
Coal, Mounting Costs: the Life Cycle Consequences of
Coal,» led by associate director of the Center for Health and the Global Environment at Harvard Medical School Dr. Paul Epstein, found that accounting for the full costs of coal would double or triple its pr
Coal,» led by associate director of the Center for Health and the
Global Environment at Harvard Medical School Dr. Paul Epstein, found that accounting for the full costs of
coal would double or triple its pr
coal would double or triple its
price.
Current proposals by
global warming advocates will likely cost billions of dollars and require a wholesale transformation of the nation's economy and society. Americans could be paying 30 percent more for natural gas in their homes and even more for electricity.  The cost of
coal could quadruple and crude oil
prices could rise by an additional -LSB-...]
A group of 70
global investors managing more than $ 3 trillion of collective assets have launched the first - ever coordinated effort to spur the world's 45 top oil and gas,
coal and electric power companies to assess the financial risks that changes in demand and
price pose to their business plans.
COAL - fired power plant closures have become the order of the day for Australia's virtue - signalling and
global warming theory - obsessed political class who think that destroying the country's industrial heartland, and imposing crippling energy - poverty on its citizens is a worthwhile
price to pay for «saving the planet».
Müller believes polycarbonates could serve as effective carbon sinks for the millions of tons of emissions spewed by
coal - fired plants; assuming the
price tag for any such technology is within limits - and that the capacity for economies of scale exists - it could, as he states, be a «significant contribution» towards
global efforts to slash carbon emissions.
In the last two years, «There has been an awful lot of mining development, and much of it is based on the potential of these new markets,» said David
Price, director of the
global steam
coal advisory service at IHS - Cera, a
global energy consultancy.