UPDATES
March 25, 2011: Morningstar -- bullish on coal. Well, duh.
February 4, 2011: Huge profits for the coal companies.
Top global miners are set to report a doubling in profits for the December half, thanks to booming iron ore and copper sales, sparking calls for fat cash returns to shareholders as the major miners run out of takeover opportunities.
BHP Billiton, Rio Tinto, Anglo American, and Xstrata are due to report their December-half results over the next two weeks.
The big miners are so flush with cash that even their multi-billion dollar expansion projects and smaller acquisitions, such as Rio Tinto's $3.9 billion bid for Mozambique coal miner Riversdale, will not soak it all up.
January 31, 2011: I did not realize this, but according to Jim Cramer, CNBC, coal is the fastest-growing fuel in the world.
ORIGINAL POST
Two graphs that speak volumes about the need for fossil fuels going forward. Somehow, just somehow, I don't think wind and solar energy will be quite enough. China continues to argue that it needs to be exempt from "cap and trade" rules. Just saying.
Click here for source (EIA).
Click here for source (EIA).
No comments:
Post a Comment