It may be the beginning of the end for coal in this country, but there's plenty of folks who still want it, as in Asia.
Some data points (some numbers rounded):
- U.S. coal exports reached their highest level in two decades due to strong demand in Asia
- coal exports topped 107 million tons of fuel ($16 billion) last year (2011); highest level since 1991; double the export volume from 2006
- "global coal super cycle" according to Peabody Energy
- exports to South Korea: up 80 percent; 10 million tons
- exports to Japan: up 119 percent; 7 million tons (shut down 53 of 54 nuclear reactors)
- exports to India: up 65%; 5 million tons
I don't believe Gillette, Wyoming has to worry about becoming a ghost town even though Obama wants to kill the coal industry.
ReplyDeleteIf our own country is so foolish not use this abundant cheap energy source other countries will.
This all helps in reducing our trade deficit.
I wanted to write more about this story -- all the coal being exported, but I'm trying to do better by sticking with the Bakken. But there was enough there to make the point. I agree: great for trade deficit.
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