Apparently the world is changing... "The world is making policy decisions which mean that coal usage, in my view, will progressively decline. It's a long-term structural change and that should not be dismissed as something that is purely cyclical." (Colin Barnett, West Australian Premier. 29 July 2013) Source: http://reneweconomy.com.au/2013/note-to-australia-thermal-coal-is-over-65519 Here's Goldman Sachs' compact explanation: We believe that thermal coal's current position atop the fuel mix for global power generation will be gradually eroded by the following structural trends: 1) environmental regulations that discourage coal-fired generation, 2) strong competition from gas and renewable energy and 3) improvements in energy efficiency. And here is their stark conclusion: The prospect of weaker demand growth (we believe seaborne demand could peak in 2020) and seaborne prices near marginal production costs suggest that most thermal coal growth projects will struggle to earn a positive return for their owners. [my emphasis] Source: http://grist.org/climate-energy/goldman-sachs-says-coal-export-terminals-are-a-bad-investment/ Other readings for you... http://www.couriermail.com.au/news/...or-gas-and-solar/story-fnihsrf2-1226688242642 Maybe i should keep an eye on jobs in the gas industry...
