Updates
June 17, 2011: Cloud Peak Energy successfully acquired nearly 60 million tons of coal which will help the company meet its growing exports to Asian markets.
The "key" words are "help meet." incredible.
Original Post
I don't know how many times I have posted similar stories, or sent e-mails regarding the same to others regarding this issue, but every time someone sends me a story that some state won't allow coal-produced electricity, or will minimize the use of coal, I simply reply that Asia will take all we can produce.
Here's an article to support my thesis.
While the US administration does what it can to destroy the domestic energy industry, and superficially raise energy prices through "cap and trade" talk, EPA regulations, etc., China and India are going to take advantage of the situation.
This is not rocket science.
I have to commend (again) Warren Buffett for having the foresight to buy Burlington Northern to ship coal to Asia. Note something else in this story: after all the hassle of trying to ship more coal out of a Washington State port, this new initiative will ship coal out of a Canadian port. A Washington State port refused to increase port facilities because it did not want to contribute to global warming. Even Canada is looking better and better vis a vis the United States and energy.
I talk about the lost decade (2000 - 2010, see tag) but I fear we are headed for another lost decade.
Please don't bother to post comments regarding this post. I probably won't post them.
ReplyDelete"Even Canada is looking better and better vis a vis the United States and energy."
ReplyDeleteWhen has Canada NOT looked better than the U.S. vis a vis energy policy?
Good point.
ReplyDelete