Coming clean on China's coal rush | Herald Sun
THE myth of China's switch to so-called clean energy has been blown right out of the water by research from HSBC Bank.
China already has easily the world's biggest coal-fired power sector. It's roughly double the size of the US's coal-fired power generation - and about 15 times the size of ours.
Most of the huge growth planned for Chinese electricity generation over the next ten years is also going to come from coal-fired power. This leads to two broad conclusions.
Our thermal coal industry will be able to sell as much coal into world markets as it can dig up. Because in addition to the coming huge increase in demand from China, there is also India following a similar path.
Secondly, if emissions of carbon dioxide do cause global warming, go short long winter woolies.
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1 comment:
Tom, I'm so disappointed that you haven't been keeping up with the latest in climate science. You imply that global warming will eliminate the need for warm winter clothing. Don't you realise that global warming in fact leads to more snow and colder winters, as seen in the last few months? This increased snow mass will then cause Himalayan glaciers to speed up their flow, to the point where they all disappear by 2013 or something.
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