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THE Coal Thread pt 3 (merged)

Discussions of conventional and alternative energy production technologies.

Re: Coal to peak in 2 decades?

Unread postby Synapsid » Thu 24 Apr 2014, 19:59:12

k, T,

It is a beautiful rock. They used to call it peacock coal.

The DOD got stuck with anthracite for some period because a Pennsylvania Congressman from a mining district got that made law via a rider on a budget bill or some such. This was decades ago; I expect that got changed.
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Re: THE Coal Thread pt 3 (merged)

Unread postby Graeme » Thu 29 May 2014, 18:07:59

Alberta, Canada Renewables Seen Cheaper Than Coal in Next Decades

Alberta, which relies on coal to generate about half its power, would see electricity rates rise more slowly in coming decades if use of renewable energy increased, according to a study published today.

Prices for electricity would be 4 percent lower by 2033 with a transition to more wind, solar and hydroelectric power than a persistent reliance on coal and natural gas, according to a report by Calgary-based environmental research firm Pembina Institute and Clean Energy Canada, a Vancouver-based organization that promotes renewable energy. The price per kilowatt-hour in Calgary has averaged less than 10 Canadian cents (9 U.S. cents) in the past decade.

The Canadian province, which holds the world’s third-largest crude reserves, is reviewing renewable energy policies as exports from its oil sands face increasing opposition from environmental groups and lawmakers in the U.S. and Europe. The pressure to curb emissions from Alberta’s bitumen production threatens U.S. approval of TransCanada Corp.’s proposed Keystone XL pipeline linking the oil sands to the Gulf Coast.

Alberta, which boasts Canada’s sunniest weather and only harnesses about 1 percent of its potential wind power, has eliminated most incentives for renewable energy in past decades, making it difficult for investors to compete with fossil-fuel generation, the report said.


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Re: THE Coal Thread pt 3 (merged)

Unread postby Graeme » Tue 10 Jun 2014, 17:48:23

Geology and Markets, not EPA, Waging War on Coal

With the release of the Environmental Protection Agency’s proposed rules limiting carbon pollution from the nation’s electricity sector, you’ve no doubt been hearing a lot of industry outrage about “Obama’s War on Coal.”
Don’t believe it.

Despite the passionate rhetoric from both sides of the climate divide, the proposed rules are very moderate — almost remedial. The rules grade the states on a curve, giving each a tailored emissions target meant to be attainable without undue hardship. For states that have already taken action to curb greenhouse gasses, and have more reductions in the works, they will be easy to meet. California, Oregon, Washington, and Colorado, are all several steps ahead of the proposed federal requirements — former Colorado Governor Bill Ritter told Colorado Public Radio that he expects the state to meet the proposed federal emissions target for 2030 in 2020, a decade ahead of schedule. This isn’t to say that Colorado has particularly clean power — our state has the 10th most carbon intensive electricity in the country, with about 63% of it coming from coal — but we’ve at least started the work of transitioning.

Furthermore, many heavily coal dependent states that have so far chosen to ignore the imperatives of climate change (e.g. Wyoming, West Virginia, Kentucky) must only attain single-digit percentage reductions, and would be permitted to remain largely coal dependent all the way up to 2030. Roger Pielke Jr. and others have pointed out that in isolation, the new rules would be expected to reduce the amount of coal we burn by only about 15%, relative to 2012 by 2020. By 2030, we might see an 18% reduction in coal use compared to 2012. Especially when you compare these numbers to the 25% reduction in coal use that took place between 2005 and 2012, and the far more aggressive climate goals that even Republicans were advocating for just two presidential elections ago, it becomes hard to paint the regulations as extreme. Instead, they look more like a binding codification of plans that already exist on the ground, and a gentle kick in the pants for regulatory laggards to get on board with at least a very basic level of emissions mitigation.

So, in isolation, there’s a limited amount to get either excited or angry about here. And thankfully, the EPA’s rules will not be operating in isolation!
The Real War on Coal

Even without the threat of carbon regulations, the US coal industry is already in dire straits — due primarily to geology and the steady transformation of our energy markets — not politics and carbon regulations. That 25% decline in coal burning we’ve already seen? That came from flat or declining electricity demand, plummeting costs for long-term renewable energy contracts with guaranteed prices, a glut of cheap fracked gas, and steadily increasing coal production costs which have resulted in steadily increasing delivered coal prices (as we reported in October, 2013) These factors have all worked together to squeeze coal’s profit margins, and send the industry into decline. On top of all that, China’s once insatiable and rapidly growing appetite for imported coal appears to have subsided, much to the dismay of producers who were hoping to garner fatter profits from selling US natural resources overseas. Amidst this backdrop, the widespread realization that carbon pricing and regulation is inevitable is just icing on the cake.

The truth about the US coal industry can be found in their financial statements, publicly available through regulatory filings submitted to the Securities and Exchange Commission (SEC). Their annual 10-K and quarterly 10-Q filings paint a picture of an industry in trouble.


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Re: THE Coal Thread pt 3 (merged)

Unread postby Graeme » Mon 18 Aug 2014, 19:31:33

Breaking: Oregon Rejects Key Permit for Coal Export Terminal

The state of Oregon stood up to dirty coal exports today by denying a key dock-building permit. This denial is a major victory for residents and climate activists who have waged a huge, high-profile campaign against coal exports. Oregon’s decision today shows that our state leadership values clean air, our climate and healthy salmon runs.

Coal export proponent, Ambre Energy asked the Oregon’s Department of State Lands for permission to build a new loading dock to ship Powder River Basin coal down the Columbia River to ocean-going ships bound for Asia. Oregon said no, saying the coal export project “would unreasonably interfere with the paramount policy of this state to preserve the use of its waters for navigation, fishing and public recreation.”


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Did This Smart Business Deal Just End The South's Overdependence On Coal?

Mississippi and Alabama have long prided themselves on being anti-Washington, D.C. and pro-coal. At least, that was the case until earlier this month, when utilities there—led not by local politicians, but by their business leaders—pulled a few plugs on coal-fired electricity.

The news, which should help both the environment and ratepayers, broke on August 4. It involved Mississippi Power, a subsidiary of Atlanta-based Southern Co SO -0.09%., which operates power plants in Georgia, Mississippi, and Alabama. The company, which has been in a legal battle with the well-funded environmental group Sierra Club for five years, struck a deal to massively reduce its use of coal, mostly in favor of natural gas. As part of the deal, the Sierra Club withdrew its multiple-front litigation challenging the permitting of Mississippi Power’s Kemper County power plant. The Kemper plant, which will burn coal, is now clear to become operational next year.

The deal raises some questions about coal’s future in Dixie. It seems to signal that the region’s business executives don’t share the seemingly unshakable attachment that many local politicians have to coal. The business execs have apparently figured out that, besides being good for the environment, lowering CO2 emissions will end up driving electricity rates down, not up.

How, you ask, can a deal that clears the way for a big new coal-burning plant be evidence that the south is no longer clinging to coal? I’ll explain.


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Re: THE Coal Thread pt 3 (merged)

Unread postby Graeme » Fri 22 Aug 2014, 17:16:18

Global spotlight on Europe as villages fight dirty coal

The international fight against dirty energy will reach a crescendo this weekend, as thousands of people join together in an unprecedented stand against coal expansion.

Hidden away in the rural Lausitz region, stretching across the German-Polish border, a huge environmental disasters is unfolding.

On the German side of the border, Swedish energy company Vattenfall plans to further expand existing mining operations in the region, while in Poland, state-owned PGE wants to extract almost two million tonnes of brown coal, or lignite.

But this weekend, residents of the region’s threatened villages and thousands of concerned citizens will come together and link hands in a final stand against dirty coal, forming an 8-kilometer long human chain connecting two villages at the heart of this struggle for survival.

Kerwitz in Germany and Gabice in Poland both face being razed to the ground to make way for two huge new lignite mines.

700-year-old villages will be decimated, beautiful landscapes destroyed and livelihoods and cultures ruined, as some 6000 peoples’ homes are bulldozed to make way for dirty industry, leaving a desolate landscape in its place.

An historic part of Germany – and home to the Sorbs – the Lausitz protest is not only fighting for the future of the region but also for the distinct and historic cultures that call it home.

As thousands join hands in Lausitz, thousands more across the world will join in solidarity, calling on leaders to break free from the shackles of dirty industry and invest in a cleaner and fairer energy future and shining an international spotlight on German Chancellor Angela Merkel.


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Re: THE Coal Thread pt 3 (merged)

Unread postby Synapsid » Fri 22 Aug 2014, 18:00:56

Graeme,

Good news, both these posts. I'm surprised to see the one mentioning the Kemper, Mississippi coal-fired plant printed in Forbes, though; that's about the last place I'd have expected it.

I expect that the Sierra Club was willing to go along with the Kemper plant because it will be a full-scale CCS plant, one of only two in the US. I'm no fan of the Sierra Club, of which I was a member for 24 years, but I applaud their willingness to negotiate in this case.

The expansion of the lignite mines in Germany and Poland boggles the mind, if one thinks of controlling CO2 emissions. It's good to see the strong opposition to it (which has been under way for weeks and weeks now.) Burning lignite for power is the sort of thing one would expect only in backward rural districts where inbreeding is a public-health problem.
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Re: THE Coal Thread pt 3 (merged)

Unread postby Synapsid » Fri 22 Aug 2014, 18:15:35

CORRECTION:

In a recent post somewhere I said that the populations of India and Indonesia combined total 1.8 billion souls and that what these coal-using countries do in the future is at least as important as what China does even though China gets all the attention.

I haven't been able to locate that post so I'm supplying the correction here: The statement should be

The combined populations of India and SE Asia including Indonesia total to 1.8 billion people, half a billion more than China's even though China gets all the attention, and the preferred energy source in these countries is coal.

Mea culpa.
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Re: THE Coal Thread pt 3 (merged)

Unread postby Graeme » Sat 23 Aug 2014, 20:58:54

Good post. I've tried to find out more about India's and Indonesia's plans for coal consumption. Here is what I found:

India: Coal boom

India is currently the world's third largest coal consumer, and demand for the fuel is set to grow in coming decades. PwC, a consultancy, projects India's coal demand will grow by about seven per cent each year for the next decade. The IEA expects India to more than double its coal consumption by 2035.

Commercial, technical and legal difficulties - alongside a series of major political scandals - have held up the expansion of India's mining industry. That means that while India produces a lot of coal, it's unlikely to be able to increase production quickly enough to meet rocketing demand - creating an ever-largening gap between production and demand, as this chart shows:


I also know that India has recently changed government so these plans may change. We have to keep on eye on what they do.

Coal Mining in Indonesia to 2020

Indonesia is a leading global producer and exporter of steam coal, with production estimated at 421 million tons (Mt) in 2013 and projected to reach 503.8Mt in 2020, growing at a compound annual growth rate (CAGR) of 2.5%. Substantial production over the forecast period 2014–2020, will be the result of both capacity expansions and the commencement of new projects. The islands of Kalimantan and Sumatra dominate Indonesia's coal production and steam coal accounted for all the coal produced in the country, with the largest coal mines being the Sangatta, Paser and Batuah Village mines in East Kalimantan, and the Alam Duta Kalimantan mine in South Kalimantan.


Again Indonesia has also changed government and it is dependent on India and China to buy it's coal. The policies from Chindia will be crucial.
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Re: THE Coal Thread pt 3 (merged)

Unread postby Synapsid » Sat 23 Aug 2014, 23:26:34

Graeme,

Indonesia is planning a couple of new coal-burning power plants, because they have so much of it (and because China has all but ruled out buying as much Indonesian coal as it has up till now.)

If no one wants Indonesia's coal they'll burn it themselves.
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Re: THE Coal Thread pt 3 (merged)

Unread postby Graeme » Sat 23 Aug 2014, 23:55:23

You guessed right. Indonesia will curb coal exports. In the grand scheme of global coal consumption, a couple of stations in Indonesia won't make much difference. Besides geothermal competition just might wipe them out.

Electricity from geothermal plants would displace coal-based power in Indonesia.
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Re: THE Coal Thread pt 3 (merged)

Unread postby Graeme » Tue 26 Aug 2014, 17:33:00

Greenpeace alleges threats, intimidation over Madhya Pradesh coal project

Villagers in Madhya Pradesh's Mahan forest are being intimidated ahead of a crucial vote that could determine the future of a $3.2 billion coal project proposed by two of the country's largest mining firms, Greenpeace India said on Monday.

Mahan Coal Ltd (MCL) - which is jointly owned by Essar Energy Plc and the Aditya Birla-owned Hindalco Industries Ltd - wants to mine part of the 1,000-square-km (385-square-mile) forests in Madhya Pradesh for coal.

Some villagers, led by environmental group Greenpeace, oppose the project in Singrauli district - saying that it will destroy the timber, leaves and seeds of the centuries-old Sal forest on which they depend for income.

But as the village of Amelia - with a population of 3,500 - readies to give its say on the project in a vote expected in the coming months, Greenpeace says there has been a crackdown on those opposing it.

"The Mahan coal mine is not only placing the climate at risk, but will also destroy the livelihoods of thousands of people who depend on the Mahan forest for survival," said Greenpeace India’s Priya Pillai.

"The ongoing crackdown against forest rights activists will not deter our resolve but only makes us more determined to save the Mahan forest."


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Re: THE Coal Thread pt 3 (merged)

Unread postby Graeme » Wed 27 Aug 2014, 17:23:27

Global Warming: Existing Coal Based Power Plants Commit World to 300 Billion Tons Emissions

fossil fuel based power plants around the world, the world is "committed" into pumping out more than 300 billion tons of carbon dioxide over their expected lifetimes.

A high-carbon future is being locked in by the world's capital investments, warn researchers at Princeton University and the University of California-Irvine.

They point out that the world's accounting system for carbon emissions does not include capital investments in future coal-fired plants and natural-gas power plants. These plants will commit the world to several decades and billions of tons of greenhouse gas emissions, according to UCI.

For the first time, researchers have developed a "commitment accounting" that assigns all the future emissions of a facility to the year it begins working.

With 'committed' emissions growing by 4% every year as more plants are built, and assuming these plants will operate for 40 years, projections show the power plants constructed globally in 2012 alone will produce about 19 billion tons of CO2 during their existence.

This is considerably more than the 14 billion tons of CO2 emissions produced by all the plants operating worldwide in 2012.

The findings appear in the August 26 dated issue of the journal Environmental Research Letters.


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Re: THE Coal Thread pt 3 (merged)

Unread postby Graeme » Thu 28 Aug 2014, 18:55:24

Accounting for the Expanding Carbon Shadow from Coal-Burning Plants

Steven Davis of the University of California, Davis, and Robert Socolow of Princeton (best known for his work dividing the climate challenge into carbon “wedges”) have written “Commitment accounting of CO2 emissions,” a valuable new paper in Environmental Research Letters showing the value of shifting from tracking annual emissions of carbon dioxide from power plants to weighing the full amount of carbon dioxide that such plants, burning coal or gas, could emit during their time in service.

This makes sense because of the long lifetime of these plants once built — typically 40 years or so — and the long lifetime of carbon dioxide once released. (I’d love to see some data visualization experiments on this idea from Adam Nieman, building on his work showing the volume of daily CO2 emissions from cities and the like.)

Here’s Davis’s “video abstract” (the transcript is appended at the end of this post, along with a rich discussion of the paper’s findings and implications):


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Re: THE Coal Thread pt 3 (merged)

Unread postby Graeme » Mon 01 Sep 2014, 16:30:40

World Water Week: 7 Reasons to Claim Water for Life, Not Coal

Safe, affordable and accessible water is one of our planet’s scarcest natural resources. Many people don’t have access to fresh water for sanitation, agriculture or even to drink.

Yet, global water consumption by the power sector is growing; it’s expected to more than double by 2035, with coal projects accounting for 50 percent of increased water use. Vast quantities of water are used in coal mining, coal washing and for cooling coal-fired power plants.

We cannot allow coal interests to grab already scarce water resources and at the same time dramatically increase their carbon pollution. That will only accelerate climate change and make water shortages even more acute.

What can you do?

Someone needs to tell the power sector that it’s time to stop pumping out our water; this precious resource that people depend on for survival. That someone must be you.

Right now the most important event of the year on global water issues, World Water Week, is happening in Stockholm, Sweden. More than 200 organizations from around the world are discussing how best to divide up precious water resources.

Tweet and share these coal-water facts during World Water Week to send the message loud and clear: WATER IS FOR LIFE, NOT FOR COAL!

1. 2 billion people, or almost one-third of the world’s population, live in countries with absolute water scarcity.


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Re: THE Coal Thread pt 3 (merged)

Unread postby Graeme » Thu 04 Sep 2014, 16:23:48

Uncertainty, Rising Costs Cloud Indian Coal Sector After Landmark Supreme Court Rulings

This week the Indian court system handed down three landmark energy rulings. While an ultimate decision still looms, the combined weight of these initial rulings reaffirms one thing -- it's time to diversify away from coal.

Of the three rulings, the most talked about came in response to public outrage over sweetheart deals for private mining companies that provided access to coal mine leases for next to nothing. The discovery of these backroom deals -- now referred to as the "coal gate" scandal -- has rocked the Indian government, and the coal sector, for well over two years. The court's ruling found that 218 of these leases were illegal, in a sweeping verdict that affects all mine leases issued from 1993 through 2010.

The court is set to decide whether the companies awarded these mines will be fined or whether they will lose the mines entirely on Sept. 1. Regardless, the signal the court has sent both the coal industry and the Indian government is that it is time to start over and only allocate energy resources -- like coal and coal mines -- in a transparent and fair manner. No matter how you slice it, that means increased costs.

The fallout was immediate. Most notable was the financial community's reaction to concerns over billions of dollars that could be lost in bad loans issued to stranded assets. Indeed, with 8 percent of non-food lending exposed across the banking sector and billions invested in 37-gigawatts of new coal-fired power plants in Odisha alone, the fallout could be all too real.


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Re: THE Coal Thread pt 3 (merged)

Unread postby Graeme » Fri 19 Sep 2014, 17:54:14

World Looks to OECD as High Level Commission Calls for Phasing Out Coal

Recently, the high powered Global Commission on the Climate and Economy released its flagship report on global coal use and the economy: The New Climate Economy.

The report pulls no punches when it comes to coal, including a call for a global coal phaseout involving an immediate end to investments in new unabated coal-fired power plants globally and the retirement of existing unabated coal-fired power plants in high income countries.

Perhaps most importantly, the report calls for governments to shift the "burden of proof" away from assuming that coal is the only solution to the world's growing energy demands and instead takes into consideration the devastating social, environmental and economic costs of coal.

In short, the Commission is demanding public policymakers move beyond coal.

To be clear, this is not simply the policy prescriptions of environmentalists. The Commission is chaired by the former president of Mexico, Felipe Calderón, and is filled with former heads of state and current and former executives from Bank of America, Deutsche Bank, the World Bank, the Asian Development Bank and other major financial institutions.

Many multilateral development banks (MDBs) and a few governments have already taken steps to implement similar policies. President Obama called for an end to overseas financing of new coal-fired power plants in his Climate Action Plan, and since then the U.K., the Nordic countries, and the Netherlands have joined the pledge. Meanwhile, the World Bank, the European Investment Bank and the European Bank for Reconstruction and Development have also committed to end financing for new coal plants.

In addition to calling on high income countries to stop building new, unabated coal-fired power plants immediately and accelerate the retirement of their existing plants, the report also calls on middle income countries to limit new coal-fired power plants and begin retiring their existing fleet by 2025. Ultimately, the Commission is seeking a global phase-out of unabated fossil fuel power generation by 2050.


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Re: THE Coal Thread pt 3 (merged)

Unread postby Graeme » Tue 23 Sep 2014, 17:01:21

an we phase out coal in the UK by 2020 and keep the lights on?

Coal is fairly cheap, it makes up around 36% of our energy mix in the UK, and we’ve got lots of existing plants. But the evidence is increasingly clear. If we want to tackle climate change - the UK’s coal plants need to be phased out, fairly fast.

The UK government advisors on climate change (The Committee on Climate Change) say we need to phase out coal quicksmart - by the early 2020s - to stay within two degrees of global warming, after which the impacts become increasingly severe.

And there have been numerous reports released in the weeks leading to the Ban Ki Moon Summit. One study stresses the dangerous impacts of climate change that could be felt within 30 years if emissions continue as they are; Carbon Tracker suggests the economics of coal are crumbling as demand falls; and a heavyweight report by a global economics commission including Lord Stern which highlights the compatibility of dealing with climate change and economic growth, whilst calling for coal to be rapidly phased out in developed economies.

But the UK and Germany - two of the top three biggest carbon emitters in Europe - have told Carbon Brief they have little intention of an accelerated phase out of coal. Unlike Poland, Europe’s other big emitter, the UK and Germany are committed to cutting emissions, but they argue a more rapid phase out isn’t feasible. Are they right? We have a look at the alternatives:


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Re: THE Coal Thread pt 3 (merged)

Unread postby Graeme » Wed 01 Oct 2014, 16:41:36

SaskPower Unveils First Commercial-Scale, Coal-Fired Power Plant to Capture Carbon

For the first time ever, a large-scale, coal-fired power plant is capturing carbon dioxide to keep it from being released into the atmosphere – a milestone for a technology critical to addressing climate change.

Canadian electric utility SaskPower has switched on unit 3 at its Boundary Dam power plant, about 10 miles from the North Dakota border, and will hold an official grand opening Oct. 2. Following a $1.2 billion retrofit, the 46-year-old, 110-megawatt coal unit is now on course toward capturing 90 percent of its carbon emissions. Other upgrades reduce nitrous oxide emissions and capture 100 percent of the unit’s sulfur dioxide emissions.

Numerous commercial-scale carbon capture and storage (CCS) technology projects have been deployed in the industrial sector. In the power sector, demonstration-scale projects have been deployed, but this is the first commercial-scale project.

We will need to construct hundreds of such projects (along with other zero- and lower-emitting technologies) if greenhouse gas emissions are to be reduced to levels that avoid the worst effects of climate change. According to the International Energy Agency, more than 440 terawatt-hours (TWh) of CCS must be generated between 2020 and 2035 to give us a chance of limiting global temperature rise to 2 degrees Celsius (3.6 degrees Fahrenheit) above pre-industrial levels. To get a sense of that scale, SaskPower’s unit 3 can produce up to 1 TWh of electricity per year.


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Re: THE Coal Thread pt 3 (merged)

Unread postby Keith_McClary » Thu 02 Oct 2014, 18:52:13

The Asian owners of Calgary-based Grande Cache Coal have signed a deal to sell a controlling interest in the operation for just $2 to Up Energy Development Group Ltd., a Chinese company.

Marubeni of Japan and Hong Kong-listed Winsway Coking Coal Holdings Ltd. had paid $1 billion for the mine in 2012 when coal prices were booming.

Winsway said it has decided to reduce its dependence on coal and to diversify into services for other bulk commodities.

"Although these efforts have not yet resulted in significant earnings, the company is confident that the proposed new business model will enable it to better utilize its logistics resources and contribute to its earnings in the near future," Winsway said in a statement.

Marubeni also confirmed the deal in a statement Wednesday, but did not offer an explanation for the sale.

Up Energy said Marubeni will receive $1 for its 40 per cent stake, while Winsway will get $1 for 42.74 per cent of Grande Cache and retain a 17.26 per cent interest.

Marubeni, one of the largest Japanese trading houses, will also have the right to buy back a 15.78 per cent interest under certain conditions, while Winsway may buy back up to 16.86 per cent.

Grande Cache is a producer of metallurgical coal and holds coal leases covering more than 22,000 hectares in the Smoky River coalfield in west-central Alberta.

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Re: THE Coal Thread pt 3 (merged)

Unread postby Graeme » Sat 04 Oct 2014, 17:34:10

Cold Days For Coal Could Mean Better Forecast for Our Climate

The future is looking darker for the coal industry.

Publicly-traded giants such as Alpha Natural Resources, Arch and Peabody have seen their stock prices hit historic or near-historic lows. Peabody was recently dropped from the S&P 500 index.

On Tuesday, Arch Coal Inc. traded at $2.32, down 83.7% from the Initial Public Offering (IPO) in 1997. On the same day, Alpha shares sunk to $2.88, down about 85.79% since their 2005 IPO.

One industry analyst summed it up early this week “The reality is that investors hate coal at the moment.” (BB&T Capital Markets Mark Levin Sept. 23 report). Mayur Sontakke In Yahoo Finance’s “Market Realist” segment on Tuesday took a broader view: “The domestic thermal coal demand could slowly become extinct.”


International coal markets have also seen a dramatic shift as government’s around the world—with the notable exception of India—continue to move away from the dirtiest of fuel sources. Most of this shift is due to health concerns raised by the devastating pollution caused by the large scale burning of coal. (Seen any pictures of Beijing of Shanghai recently?)

China recently indicated it will put a national cap on coal consumption. That has some analysts projecting--as BloombergBusinessweek reported Sunday--that the country could hit “peak coal” as early as next year, and that this would weigh down coal demand across the globe.

As SNL reported earlier this week:

"We believe coal demand has more or less peaked in China," wrote analysts for Jefferies LLC. "Based on our analysis, future coal demand growth will be lower than thermal power production growth, lower than power production growth, which will be lower than GDP growth."

Increased market penetration of energy efficiency and renewable energy may also have played a role in the nose dive of Big Coal's stock by eating away at demand, which is more good news for our planet.

In addition, tightened air pollution limits for toxic pollutants such as mercury, along with historic proposed standards to reduce carbon pollution from power plants, are cited for plunging coal stock prices.

Although coal still provides nearly 40 percent of power in the United States, it’s hard to believe that as recently as 2007 there were about 150 new coal fired power plants proposed across the nation. Pretty much all of those are now dead.


theenergycollective
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