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World Coal Production Just Had Its Biggest Drop on Record
Key Excerpts from Article on Website of Bloomberg
Posted: June 25th, 2017
https://www.bloomberg.com/news/articles/2017-06-13/coal-s-er...
Its the end of an era for coal. Production of the fossil fuel dropped by a record amount in 2016, according to BP Plcs annual review of global energy trends. China, the worlds biggest energy consumer, burned the least coal in six years and use dropped in the U.S to a level last seen in the 1970s, the companys data show. Coal, the most polluting fuel that was once the worlds fastest growing energy source, has been a target of countries and companies alike as the world begins to work toward the goals of the Paris climate agreement. Consumption is falling as the worlds biggest energy companies promote cleaner-burning natural gas, Chinas economy evolves to focus more on services than heavy manufacturing and renewable energy like wind and solar becomes cheaper. U.S. demand for coal fell by 33.4 million tons of oil equivalent last year to 358.4 million, the biggest decline in the world in absolute terms, BP data show. Global consumption dropped 1.7 percent last year compared with an average 1.9 percent yearly increase from 2005 to 2015, according to BP. Consumption of coal fell in every continent except Africa, the BP data show. Germany, Europes biggest user, consumed 4.3 percent less coal. U.K. demand fell 52.5 percent, the biggest percentage decline among the worlds major economies, according to BPs data.
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