Falling Chinese Coal Consumption and Output Undermine Global Market – WSJ
Falling Chinese Coal Consumption and Output Undermine Global Market – WSJ:
Finally, Finally, Finally…
China has finally started to cut back on it’s production and use of dirty coal. China now consumes far more than half of the world’s coal.
It’s a perfect time for them to do so, with all energy prices so low, the Chinese economy growing slow(er) and the costs/consequences of pollution from coal becoming more and more conspicuous.
It is also interesting that this article talks about peak coal. It seems that peak oil and peak coal have been pushed back with the overwhelming supply of cheap(er) oil and gas from new technologies (fracking, horizontal drilling, etc.)
In China’s case it may be peak pollution, where the health costs, environmental costs and quality of life costs are are starting to overpower the perception of coal being a cheap energy source.
Doing non-sustainable stuff, especially for long periods of time, has its costs and unintended consequences.
Sustainable Growth…