“Coal: Before the Flood.”

FT Lex: “….There are holes in the market. China alone has several. The country’s leaders are eager to shift away from energy-intensive investment, towards consumption.”
“Fixed-asset investment growth has halved to 16 per cent from a 2009 high of 33 per cent.The US is not much better for coal miners, given that shale gas is cheap. According to a recent Carbon Tracker Initiative (CTI) report, a decline in coal-fired power plant generation has resulted in a drop in US coal consumption of 17 per cent between 2008 and 2013. The CTI has identified $448bn scheduled for capital expansion of thermal coal production worldwide (outside China) by 2025 – $112bn of which would be uneconomic if forecasts of flat demand are correct.
Thus the boy is pulling his finger out.
….Neither will governments come to the rescue. Last year China invested more in clean energy than the US or the EU. Last week, China banned some cities from burning coal with high ash and sulphur content. In April, the US Environmental Protection Agency won the right to enforce new air standards. This may lead to 60,000 megawatts of coal-fired production being retired – about a fifth of the US total – by 2020.
Capitulation by coal companies may come first. This week Coal India, one of the world’s most inefficient miners, announced a $1.2bn investment in solar power.”

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Posted in Chronicle, Clean Energy, Climate, Coal Tagged with: , , ,
Appropriate civilization includes environmental balance, sustainable capitalism, empathic societies, racial and religious harmony, poverty alleviation at home and abroad, common security, and use of tech for social good.

New despotism includes environmental sabotage, reckless capitalism, isolationist nationalism, incitement to racial and religious hatred, retreat from aid, war mongering, and the use of tech for social harm.

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