The U.S. Coal Export Boom To Asia

October 8, 2018, 6:48 pm | Admin

There are many, many falsehoods out there about coal. The biggest, of course, is that "coal is dead," an organized effort to scare away potential investors of the world's most vital source of electricity. Indeed, the reality is quite different than what some insist that you believe. In fact, coal is still the main source of power in a leading 18 U.S. states, and still supplies almost 30% of American power. " Does that sound like an energy source that is...."dead?"

Globally, coal is even more alive. "Think the Big Banks Have Abandoned Coal? Think Again." Even a solar magazine admits: "China to add 259 GW of coal capacity, satellite imagery shows." For reference, 259 GW is more than twice the amount of power capacity that mighty Texas has FROM ALL SOURCES.

Now Asia - which accounts for close to 80% of total global coal usage - is increasingly turning to the U.S. to supply coal. We are still the world's third largest coal producer. The U.S. supplies both types, met coal to produce steel and steam coal to produce electricity. "U.S. coal exports increased by 61% in 2017 as exports to Asia more than doubled."

The U.S. has a 360-year supply of coal to bolster our expanding export market. The trade war with the U.S. however, could have China looking to expand domestic supply, and the country's coal production caps have been found to be "technically infeasible."

The fact is that both China (65%) and India (75%) are hugely dependent upon coal-based electricity, which will be needed in even bigger quantities to lift their low Human Development Index closer to those in the West, where universal electricity access has more people living better and longer. Can you really blame them? "The Statistical Connection Between Electricity and Human Development."

https://www.forbes.com/sites/judeclemente/2018/10/07/the-u-s-coal-export-boom-to-china/#498d666c3454

Last modified on October 8, 2018, 6:48 pm | 281