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Coal demand stalls internationally
http://thehill.com/policy/energy-environment/263774-coal-demand-stalls-internationallyInternational demand for coal stalled internationally in 2014 for the first time since the 1990s, the International Energy Agency (IEA) said.
The IEA blamed the stall mostly on China, where power demand grew at about half the rate of the country’s gross domestic product, despite the fact that the two are usually linked more closely. China uses about half the world’s coal. Environmental policies are the other big challenge for coal, including the new Paris climate accord.
“The coal industry is facing huge pressures, and the main reason is China — but it is not the only reason,” IEA Executive Director Fatih Birol said in a statement upon release of its medium-term market report for coal.
“The economic transformation in China and environmental policies worldwide — including the recent climate agreement in Paris — will likely continue to constrain global coal demand.”
The IEA blamed the stall mostly on China, where power demand grew at about half the rate of the country’s gross domestic product, despite the fact that the two are usually linked more closely. China uses about half the world’s coal. Environmental policies are the other big challenge for coal, including the new Paris climate accord.
“The coal industry is facing huge pressures, and the main reason is China — but it is not the only reason,” IEA Executive Director Fatih Birol said in a statement upon release of its medium-term market report for coal.
“The economic transformation in China and environmental policies worldwide — including the recent climate agreement in Paris — will likely continue to constrain global coal demand.”
A glimmer of hope?
