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David Archibald says:
Larry Fields says:
November 13, 2011 at 6:42 pm
I first got interested in China’s coal reserves when I plotted up their production profile against the view that their reserves were of the order of 120 billion tonnes. Now that their annual production is 3,000 million tonnes per annum, the new power plants they were building were going to run out of coal before they wore out. Could the Chinese be so idiotic? No, the real number is somewhere north of one trillion tonnes. So they have at least three hundred years left at the current rate. Note this document, page two at the top:http://www.battelle.org/ASSETS/5C05BD3561BD4891888EB7090849541D/china_coal_industry.pdf
Too many people confuse proved reserves with total qualities in the ground.
They are not the same. They can differ by orders of magnitude.