Coal demand is increasing and due to keep on doing so
Sorry to disappoint you, but according to Clean Technica, the reverse is occurring as to them : ” coal demand is climbing rapidly around the world.”
This might not be really hot news as I already wrote there about such a thing, but you will find below more data on this situation.
Here is the full article from Clean Technica :
Despite the myriad recent examples of positive news in the alternative energy world, it’s important to remember that harmful non-renewables aren’t losing any ground. According to the US Department of Energy, 258 gigawatts of new generating capacity are needed to meet an expected 40% increase in consumption by 2030, and coal companies are stepping up to meet this need.
In the US, 17.5 gigawatts of coal-fueled generating capacity are under construction, and 7.3 more gigawatts are on the way.
Coal companies are recording huge profits as a result of the growing desire for their services. Arch Coal, one of the largest coal producers in the United States, has recorded a net income of $194.1 million in the first half of 2008—triple their income from the first half of 2007.
Curbing this trend will be difficult, if not impossible, as emerging markets such as China show no signs of slowing down. Arch Coal suggests that 1.1 billion tons of coal will be needed by 2012, essentially replicating the US coal industry in 5 years.
So what can be done to stop coal’s harmful effects on the atmosphere? One possibility is carbon capture, but mandatory heat-trapping emission caps are not yet in place in the United States—not to mention other large coal-consuming countries. Unless major policy changes are made immediately, we’ll be dealing with massive coal emissions for a long time.
Of course, these are market predictions, so it may not be that bad as the market completely fails to understand concepts like climate change or even energy scarcity. Please don’t see that as some personal criticism of market economies, as I believe they just need improvements.
This phenomenon could reverse, energy efficiency could jump ( as a matter of fact it really should ), renewable energies and nuclear may face even stronger increase of demand, carbon capture and storage may become mainstream sooner that we expected… Time will tell us.
Be sure that I will keep you posted on the news of energy market and the large trends that I am reading about. So for this and for much more, stay tuned !