A cheap, ubiquitous and flexible fuel, with just one problem
WHAT more could one want? It is cheap and simple to extract, ship and burn. It is abundant: proven reserves amount to 109 years of current consumption, reckons BP, a British energy giant. They are mostly in politically stable places. There is a wide choice of dependable sellers, such as BHP Billiton (Anglo-Australian), Glencore (Anglo-Swiss), Peabody Energy and Arch Coal (both American).
Other fuels are beset by state interference and cartels, but in this industry consumers—in heating, power generation and metallurgy—are firmly in charge, keeping prices low. Just as this wonder-fuel once powered the industrial revolution, it now offers the best chance for poor countries wanting to get rich.
Such arguments are the basis of a new PR campaign launched by Peabody, the world’s largest private coal company (which unlike some rivals is profitable, thanks to its low-cost Australian mines). And coal would indeed be a boon, were it not for one small problem: it is devastatingly dirty. Mining, transport, storage and burning are fraught with mess, as well as danger. Deep mines put workers in intolerably filthy and dangerous conditions. But opencast mining, now the source of much of the world’s coal, rips away topsoil and gobbles water. Transporting coal brings a host of environmental problems.
The increased emissions of carbon dioxide from soaring coal consumption threaten to fry the planet, as the Intergovernmental Panel on Climate Change reminded everyone in a new report this week (see article). The CO2makes the oceans acid; burning coal also produces sulphur dioxide, which makes buildings crumble and lungs sting, and other toxic chemicals. By some counts, coal-fired power stations emit more radioactivity than nuclear ones. They release tiny, lethal particulates. Per unit generated, coal-fired stations cause far more deaths than nuclear ones, and more even than oil-fired ones.
But poverty kills people too, and slow growth can cost politicians their jobs. Two decades of environmental worries are proving only a marginal constraint on the global coal industry. Some are trying to get out: in America Consol Energy is selling five mines in West Virginia to concentrate on shale gas. Big coal-burners such as American Electric Power and Duke Energy are shutting coal-fired plants. Yet despite America’s shale-gas boom, the federal Energy Information Administration reckons that by 2040 the country will still be generating 22% of its electricity from coal (compared with 26% now). The International Energy Agency has even predicted that, barring policy changes, coal may rival oil in importance by 2017. As countries get richer they tend to look for alternatives—China is scrambling to curb its rising consumption. But others, such as India and Africa, are set to take up the slackÂ
The Latest on: Coal
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The Latest on: Coal
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Alexander Govor, the McDonald’s Corp. franchisee who’s now bought the chain’s entire business in Russia, will have to create a new brand to replace the “Golden Arches” that came to symbolize his ...
- China needs Russian coal. Moscow needs new customerson May 20, 2022 at 12:38 am
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- Europe admits it'll have to burn more coal as it tries to wean itself off Russian energyon May 19, 2022 at 10:16 pm
It highlighted the importance of energy savings, the diversification of energy imports and speeding up what it called "Europe's clean energy transition." The EU's desire to wean itself off Russian ...
- Coal’s comeback perseveres through mid-2022: Analysison May 19, 2022 at 7:13 pm
American coal prices in the aftermath of the coronavirus have reached unprecedented highs and world events are notching prices even higher [see “Russia-Ukraine war likely to bolster U.S. coal imports, ...
- India asks regulator to allow utilities to import up to 30% of coal needson May 19, 2022 at 4:30 pm
India has asked its federal power regulator to allow power generators to import up to 30% of the country's coal requirement until March next year, according to a power ministry letter seen by Reuters.
- Everything You Need to Know About Clean Coalon May 19, 2022 at 1:34 pm
How does clean coal work? Here's the process of capturing carbon dioxide and sending it below the Earth's surface, explained.
- TVA contractor can’t ditch $3 bln suit by coal-ash cleanup workers – 6th Circon May 19, 2022 at 9:45 am
The Tennessee Valley Authority’s prime cleanup contractor for a massive 2008 coal-ash spill cannot escape lawsuits by dozens of workers who say the company denied them personal protective equipment ...
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