Coal is set to regain its spot as the nation’s biggest export earner amid higher prices and surging demand from Asia, sparking fresh calls from the Turnbull government for Labor to end its “war on coal”.
The Department of Industry, Innovation and Science figures show total coal exports are forecast to reach $58.1 billion in 2018-19, overtaking iron ore ($57.7bn) for the first time in almost a decade.
Dying industry…
What do Australia’s big four banks do — ask Greenpeace for investment advice.
Meanwhile… in America…
https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2018-06-18/coal-plants-keep-shutting-despite-trump-s-order-to-rescue-them
*whispers* its dying due to fracking, just let it die
The key to your premise lies in the simple statement in your link “as the world moves away from coal ” . A simple Google tells you 1600 plants in 62 countries are presently planned . This is apparently in spite of the Paris climate accord . Of course you totally ignored a huge part of the reasons these plants are not viable are age as well as regulatory and legal headwinds. These are issues that can make any business or project unviable as we have witnessed with pipelines in Canada . Is natural gas a viable alternative in North America at present . Certainly at today’s historically low Nat gas prices . Will it always be like that ? Highly unlikely. But the greenies don’t like Nat gas either . They could care less if we freeze in the dark . So just keep living in your bubble , a much kinder way of saying where your head and comments fit .
I dont really care what the greenies like or dont like. Where nat has fracking happens, coal is dying. Period.
You are right Allan. Fracking and especially fracking for natural gas (cheaper each year) is killing coal in the USA.
Theres a word for that:
Capitalism
The world is building hundreds if not thousands of new coal plants. We are in the process of tearing ours down.
Then why is production dropping? Why are many of the big coal producers bankrupt?
Because they can’t get their coal to a port and ship it to China as efficiently as the Australians. China will construct roughly 1,100 more coal fired generating stations by 2030.
Western Coal is booming thanks to the Port of Vancouver, the largest Coal exporter on the planet. The US Left Coast has prevented the construction of any new Coal export terminals leaving Vancouver and Tsawwassen to do the jobs Americans aren’t allowed to do. Mayor Moonbeam, bought and paid for by Tides Foundation, can’t do anything to prevent it. Domestic Coal nets more direct revenue to the BC government than the forest industry.
John, the Port of Vancouver exports a lot of coal but Canada pales in comparison to Australia for coal exports. Vancouver exports are under 37 million tonnes annually while Australia exports close to 500 million tonnes, mostly to Japan but also Korea, India and China.
Coal is Australia’s largest export earner ($50 billion per year).
My college professors all endorsed … divestment … from all fossil fuels. And I believe the State of CA public pension programs are all … divested … from fossil fuels. Along with Israel, and a host of other ‘right wing’, ‘eco-destructive’, ‘colonialist’, ‘big-pharma’, ‘racist’, ‘BREXIT’, corporations). In a related story … the CA public pension programs CALPERS and CALSTRS … are BROKE … and getting broker. $$$Trillions underfunded … in large part due to fiscal and investment mismanagement.
The left keeps playing with pension funds in the name of “social justice” but what happens is the pension funds end up drastically underfunded, and pensioners get screwed.
Hey unions, can you say good bye to nice pensions?
Just a couple of years back, Mr. Styer (who initially made a pile of money in petroleum, and a big fan of the O’hole) pulled all of his investments out of US coal in the name of ‘saving the envirmint, and guess what! He invested in Aussie coal!
Wow! Now he has even more money to throw at political change in 2020. One can only hope he is better at investing in coal than in politics.
Got a few buddies in the fracking industry. Fracking went through a severe rationalization following the 2014
drop in the oil price. It has since rebounded in spades.
The problem with fracked wells is that they initially spike in production but rapidly fall off. Fracking is expensive.
Luckily the nat gas reserve is massive.
does this have anything to do with why ms wynnedfarm LOST BIG TIME?
disastrously inept. thats all I can say.
I think the province is still having nightmares about her.
I dont mean the *people* in the province, I mean the province itself.
the land, resources, air, lakes and rivers . . . .
Well said, Kate.
Coal isn’t going anywhere.
Banks do nothing but line the pockets of rich thieves with the money that allowed them to bankroll every Deep State, communist revolution and mass murder in modern history.
The banking “industry” are trying to engineer a financial crisis that will, they hope, destroy Donald Trump. It will only succeed in destroying the bankers, and not a moment too soon.