Posted on 06/14/2017 3:16:59 AM PDT by buckalfa
Worldwide coal production fell by a record amount in 2016, energy industry analysts reported on Tuesday.
According to an annual report from BP, global coal production fell by 6.2 percent in 2016, the largest decline since BP began reporting the total in 1950. The decline was driven by shrinking coal production in the U.S., down 19 percent, and China, down 7.9 percent.
(Excerpt) Read more at thehill.com ...
Of course all of this is before President Trump and MAGA and his effort to roll back regulation that has decimated coal production n America.
it’s a decade long trend.
“Does this data reflect worldwide government regulation designed to kill coal under the guise of climate change? Is it market forces at play such as cheap natural gas? Maybe it is the world’s weak economy causing demand for electricity to decline? Perhaps a combination of all the above?”
It is mainly cheaper, cleaner sources of power displacing coal. That is a good thing! I understand the political motivation of DJT supporting coal, but coal mining is not a good way of life, and the sooner those doing it can learn a new skill and do something else, the better.
Another factor is that China is backing away from coal as a power source due to its severe pollution problem, as well as the fact that it has overbuilt power generation.
Personally, I hope the various companies working on safe, clean next-generation nuclear power plants have success. If done correctly that should result in reliable electricity costing five cents or less per KWH.
by now, it should be clear you can’t believe anything in the MSM. they all subscribe to Reuters, so why aren’t they carrying this more interesting story?
14 June: Reuters: UPDATE 2-China’s coal output grows fastest in years in May on summer outlook
BEIJING, June 14 China’s coal production rose 12 percent in May from a year ago, its fastest pace of growth in years, as miners ramped up output ahead of an expected summer pick-up in demand, official data showed on Wednesday.
Coal output rose to 297.8 million tonnes in May, the National Bureau of Statistics data showed, slightly above April’s 295 million tonnes. For the year to date, coal production has risen 4.3 percent to 1.4 billion tonnes...
Strong Chinese demand has helped push up international thermal coal prices...
Prompt coal prices for cargoes from Australia’s Newcastle export terminal, which are seen as Asia’s benchmark, have shot up 18 percent since mid-May to $84 per tonne...
China’s domestic thermal coal prices have risen more than 16 percent this year, reaching record highs on Wednesday of 570.6 yuan ($83.94) per tonne. Open interest also hit a record on Tuesday, reflecting bullish sentiment...
As many of China’s major cities in north and southern regions brace for a warmer-than-usual June, coal consumption from the largest coal-fired power plants has picked up to provide power for airconditioners...
https://www.reuters.com/article/china-economy-output-coal-idUSL3N1JB1LM
That’s very interesting, thanks!
All use of energy is dropping globally, its not because of any green policy or the use of alternative sources, its because the Global Economy is in a recession, if not a full blown DEPRESSION! Due to governments around the worlds demanded for ever increasing amounts of tax money.
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