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Oilprice.com (October 24)

2023/ 10/ 25 by jd in Global News

OPEC recently forecast “that demand for oil is going to continue rising at least until 2045.” In contrast, the just released Energy Outlook from the International Energy Agency forecasts that “demand for oil, natural gas, and coal is set to peak before 2030, which undermines the case for increasing investment in fossil fuels…. While the agency does admit that investment in fossil fuels will remain necessary, it claims the growth era is over.”

 

Bloomberg (September 25)

2023/ 09/ 27 by jd in Global News

“China is the biggest buyer of Australian goods from iron ore to coal and food products and a windfall from recent elevated commodity prices helped Canberra report its first budget surplus in 15 years. If Chinese demand were to weaken, it would lower those prices and slim Australia’s trade surpluses, or even return it to deficits.” The Council of Financial Regulators (CFR) found that “The impact of a deeper economic deterioration in China will be mainly felt in Australia through weaker trade and reduced risk appetite in financial markets.”

 

New York Times (August 13)

2023/ 08/ 15 by jd in Global News

“Across the country, a profound shift is taking place that is nearly invisible to most Americans. The nation that burned coal, oil and gas for more than a century to become the richest economy on the planet, as well as historically the most polluting, is rapidly shifting away from fossil fuels.” The energy transition is further along in other places like Europe, but “the United States is catching up, and globally, change is happening at a pace that is surprising even the experts who track it closely.”

 

Deutsche Welle (March 25)

2022/ 03/ 27 by jd in Global News

Before the war in Ukraine, “Germany received 50% of its coal, 55% of its gas, and 35% of its oil from Moscow.” The country now plans “to almost completely end Russian energy imports by the end of the year.” Achieving the plan means “a considerable amount of progress would be made in a short space of time, as the West is rushing to wean itself off Russian energy amidst the invasion of Ukraine.”

 

South China Morning Post (October 18)

2021/ 10/ 18 by jd in Global News

Coal prices have “more than tripled in a year to near historical highs” and look poised to keep climbing, driven by a coal shortage that could threaten the global economic recovery. “Blackouts could spread from China and India to all the emerging economies still mostly reliant on coal. As supply can’t be ramped up in the near term, the shortages could worsen as energy demand rises with winter’s arrival. That may trigger another emerging-market crisis.”

 

Wall Street Journal (October 7)

2021/ 10/ 08 by jd in Global News

“Natural gas stocks are alarmingly low around the world, and prices in most places have never been higher after surging to new records…. Demand has jumped as economies have bounced back from pandemic shutdowns, and the squeeze has caught traders, shipowners and energy executives off guard.” Nations that “have wound down coal-fired plants and become more dependent on gas” are particularly vulnerable and, in some cases, restarting mothballed power plants despite higher GHG emissions.

 

The Economist (December 5)

2020/ 12/ 07 by jd in Global News

“Europe and America have shown that King Coal can be dethroned.” Next Asia must step up to “topple coal.” Fortunately, this “is overwhelmingly in Asia’s interest to do so. Its people, infrastructure and agriculture are dangerously exposed to the droughts, flooding, storms and rising sea levels caused by climate change….. Coal’s days are numbered. The sooner it is consigned to museums and history books, the better.”

 

Investment Week (March 3)

2020/ 03/ 05 by jd in Global News

“If China fails to get ‘back to work’ and is unable to cushion the impact of the coronavirus by April the ‘global ramifications will be enormous.’” At a recent Investment Week Conference, Karen Ward, chief market strategist for EMEA at J.P. Morgan Asset Management, also urged investors to “keep an eye on figures tracking Chinese coal consumption and labour migration as key indicators of the growing impact on the country’s economy.”

 

Japan Today (January 20)

2020/ 01/ 21 by jd in Global News

“Japan is in the crosshairs as it seeks both to be recognized as a leader in the climate-change debate but also supports the use of what is widely regarded as a dirty fuel.” Japanese corporations, however, are ready to break with coal. They “overwhelmingly feel Japan should shift away from its dependence on coal for power generation… a Reuters poll found, further evidence that the government is out of step with the global fight against climate change.”

 

Bloomberg (October 25)

2019/ 10/ 27 by jd in Global News

“Thanks partly to the plunging costs of renewable energy… coal is in rapid retreat all over the world.” It is “dying faster than anybody expected” and not just in America’s heartland. “The profitability of coal-fired power is plunging” in Germany and “demand is dying even in Southeast Asia, long seen as a sort of industry firewall.”

 

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