The failure of regulated power prices to keep pace with soaring
world coal prices lies at the heart of the China's power crisis (as well as in similar power crisis sweeping neighbouring India and Pakistan.).
In northeastern England, a battle is raging between grass roots campaigners and a company intent on digging a new open cast mine as
world coal prices soar.
Not exact matches
The
coal miner has been hurt as the
world has turned to more environmentally - friendly energy sources such as natural gas — a trend that has accelerated in the last few years as gas
prices have come down substantially due to surging supply from the U.S. fracking boom.
Data from China, the
world's largest
coal consumer, shows some signs of a slowdown ahead, which does not bode well for
coal prices.
CCS really amounts to a combined GHG and natural gas hedge which, in a
world of really expensive gas, allows you to maintain lower electricity
prices than you perhaps otherwise would be able to as you can continue to use relatively cheap and plentiful
coal while capturing and storing the emissions.
The
prices of other sources of energy, such as
coal and gas, also appear to be affected by oil
price movements, though these relationships are quite loose, and depend on the state of
world demand and stock levels.
Sixty - five percent of the
world's
coal production is unprofitable at today's
prices, a new research report by Wood Mackenzie, a commercial intelligence company often cited by investment analysts and the
coal industry itself, concluded.
While environmental advocacy organizations have taken credit for prompting these changes at some of the
world's top banks, the shift coincides with crashing commodity
prices in oil,
coal and natural gas markets worldwide.
With oil and natural gas
prices rising rapidly and nuclear power stuck in political limbo, the
world's appetite for
coal is soaring.
The
world's largest private - sector
coal firm, along with other U.S. giants like Arch Coal Inc., Cloud Peak Energy Inc. and Alpha Natural Resources Inc., are swimming against a powerful current of regulatory and economic change that has shrunk markets and driven down stock prices to unprecedented l
coal firm, along with other U.S. giants like Arch
Coal Inc., Cloud Peak Energy Inc. and Alpha Natural Resources Inc., are swimming against a powerful current of regulatory and economic change that has shrunk markets and driven down stock prices to unprecedented l
Coal Inc., Cloud Peak Energy Inc. and Alpha Natural Resources Inc., are swimming against a powerful current of regulatory and economic change that has shrunk markets and driven down stock
prices to unprecedented lows.
David Adam of The Guardian reported over the weekend on the first international conference on «
coal to liquids,» in Paris, at which a host of officials from around the
world excitedly described a host of new
coal - to - liquids initiatives aimed at securing flows of transportation fuel in a
world facing high oil
prices for a long time to come.
Nehring (2009) estimates that
world economically recoverable
coal amounts to 846 gigatonnes, based on 2005
prices and technology.
The fact that the
world's highest per capita emitter and largest
coal exporter puts a
price on carbon sends a signal internationally.
In the wake of Australia's move to add a
price to carbon dioxide emissions — which is particularly notable considering the country is one of the
world's big exporters of
coal (and related CO2 emissions)-- I sent a query to some Australian analysts of climate and energy policy to see if this holds lessons for the United States.
As of 2013, the
world has ~ 1,000 Billion short tons a mine
price would be no more than $ 5 per short ton, so we are looking at a cost of ~ $ 5 Trillion to sequester the remaining known
coal reserves.
There will be some concern that renewable energy subsidies have now indirectly spawned additional support for
coal and gas, and that both will raise European energy
prices which are already some of the highest in the
world.
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.
As a result, despite periodic energy
price spikes caused by disruptive
world events and about $ 50 billion (in real terms) in energy R&D funding since 1978, the United States has made only steady incremental progress in developing and deploying advanced renewable,
coal, and nuclear technologies that can compete with conventional energy technologies.
Belgium, France, and Japan from Seth Dunn, «King
Coal's Weakening Grip on Power,» World Watch, September / October 1999, pp. 10 — 19; coal subsidy reduction in Germany from Robin Pomeroy, «EU Ministers Clear German Coal Subsidies,» Reuters, 10 June 2002; DOE, EIA, International Energy Annual 2005 (Washington, DC: June — October 2007), Table E. 4; Craig Whitlock, «German Hard - Coal Production to Cease by 2018,» Washington Post, 30 July 2007; China, Indonesia, and Nigeria subsidy cuts from GTZ Transport Policy Advisory Service, International Fuel Prices 2007 (Eschborn, Germany: April 2007), p
Coal's Weakening Grip on Power,»
World Watch, September / October 1999, pp. 10 — 19;
coal subsidy reduction in Germany from Robin Pomeroy, «EU Ministers Clear German Coal Subsidies,» Reuters, 10 June 2002; DOE, EIA, International Energy Annual 2005 (Washington, DC: June — October 2007), Table E. 4; Craig Whitlock, «German Hard - Coal Production to Cease by 2018,» Washington Post, 30 July 2007; China, Indonesia, and Nigeria subsidy cuts from GTZ Transport Policy Advisory Service, International Fuel Prices 2007 (Eschborn, Germany: April 2007), p
coal subsidy reduction in Germany from Robin Pomeroy, «EU Ministers Clear German
Coal Subsidies,» Reuters, 10 June 2002; DOE, EIA, International Energy Annual 2005 (Washington, DC: June — October 2007), Table E. 4; Craig Whitlock, «German Hard - Coal Production to Cease by 2018,» Washington Post, 30 July 2007; China, Indonesia, and Nigeria subsidy cuts from GTZ Transport Policy Advisory Service, International Fuel Prices 2007 (Eschborn, Germany: April 2007), p
Coal Subsidies,» Reuters, 10 June 2002; DOE, EIA, International Energy Annual 2005 (Washington, DC: June — October 2007), Table E. 4; Craig Whitlock, «German Hard -
Coal Production to Cease by 2018,» Washington Post, 30 July 2007; China, Indonesia, and Nigeria subsidy cuts from GTZ Transport Policy Advisory Service, International Fuel Prices 2007 (Eschborn, Germany: April 2007), p
Coal Production to Cease by 2018,» Washington Post, 30 July 2007; China, Indonesia, and Nigeria subsidy cuts from GTZ Transport Policy Advisory Service, International Fuel
Prices 2007 (Eschborn, Germany: April 2007), p. 3.
Since electric utilities were required to pay above
world prices for British - produced
coal, electricity
prices became excessively high, and the British
coal industry in essence became dependent on the electricity industry for its survival.
«The collapse in the share
prices of the US
coal sector 2011 - 14 is an illustration of how markets can punish investors in a climate - constrained
world where lower carbon technology is developing rapidly,» said Mark Fulton research advisor to Carbon Tracker and formerly head of research at Deutsche Bank on climate.
The combination of very high power
prices in Japan, new technology and the fact that
world temperatures have not increased in the last decade is giving
coal another chance given its low
price.
So the biggest issue facing both the developed and the developing
worlds is not CAGW, nor
coal versus renewables for electricity, nor energy
prices per se.
Australia is the
world's largest
coal exporter, but new regulations could increase its
prices, said Jimmy Brock, chief operating officer for Consol Energy, which is based in Pittsburgh.
In the simulated
world of Hopenhagen, below - cost energy efficiency can deliver emissions reductions too cheap to meter; solar and wind power are already cheaper than
coal; and «political will» along with new regulations and a modest carbon
price will deliver technological miracles.
Coal, gas and uranium rich Australia shouldn't be paying the highest power
prices in the
world; and it shouldn't be cutting power to businesses and hospitals during hot weather, when demand spikes and -LSB-...]
1) Primary Energy Overview [PDF / XLS] 2) Primary energy production by source [PDF / XLS] 3) Primary energy consumption by source [PDF / XLS] 4) Energy consumption by sector [PDF] 5) Petroleum Data [PDF] 6) Natural Gas Data [PDF] 7)
Coal Data [PDF] 8) Nuclear Energy Data [PDF] 9) Renewable Energy Data [PDF] 10) Electricity generation and Consumption [PDF] 11) Energy
Prices [PDF] 12)
World Crude oil production, consumption and stocks [PDF] 13) Crude oil and natural gas resource development [PDF] 14) Carbon dioxide emissions from energy consumption [PDF]
Phil Radford, executive director of Greenpeace USA, believes that cheap natural gas will collapse the
coal industry, but in a post-
coal world, natural gas
prices will inevitably rise, ushering in the clean energy economy.
Note that Peabody
Coal, the world's largest coal company, saw its share price soar after Trump's elect
Coal, the
world's largest
coal company, saw its share price soar after Trump's elect
coal company, saw its share
price soar after Trump's election.
(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
The catastrophic impacts of climate change will ensure that Vietnam, its neighbors, and the entire
world will pay a heavy
price for continuing to rely on dirty
coal.
Not only is the U.S. gearing up to export both oil and gas, it is also a major
coal exporter, helping to crash
prices there, too, and to bring affordable fossil fuel to the
world.
When US domestic gas climbs to
world prices and the EPA makes life hard for
coal burners their nuclear hiatus may pick up again.
* First, it is supposed to mean the big decline in the
world price of
coal since the project began is not a problem.
External costs (i.e. cost not accounted for in the
price tag, such as environmental, public health and other social costs) of
coal in China totaled RMB 1.7 trillion (about US$ 250 billion) in 2007, equivalent to 7.1 % of China's 2007 GDP, according to a landmark report commissioned by Greenpeace, Energy Foundation and
World Wildlife Fund released yesterday.
Basically, the
price of
coal in the current
world market is too low to cover the costs of production.
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.
European countries outside the EU like Iceland and Norway were among the first in the
world to prove bold initiatives like carbon
pricing and state - level
coal divestment could not only help cut emissions, but drive economic growth.
The largest uncertainty in projecting future
world coal production is determining whether such reserve reductions might occur in other regions, or whether reserves could increase given substantial real
price increases.
It would be well worth paying higher
prices for clean energy, but the fact is that renewable energy is similar in cost to filthy
coal - fired energy (which, by the way, kills millions of people
world - wide each year by its air pollution).