Peabody Highlights Coal's Solid 2008

By Michael Kanellos

National and state governments around the world are pumping money into clean technology projects, but, guess what: Coal is still doing well.

Peabody (BTU), the world's largest coal company, highlighted some of the achievements for 2008. The company pulled a record 256 million tons out of the ground and garnered $6.6 billion in revenue. Net income came to $985 million. It was also a record year low for accidents. Not bad for a company that's 125 years old. It ranks fifth in the Fortune 500 for the most profits over the last five years. (Coal still accounts for 49 percent of the electrical power in the U.S. Unless you or your neighbor want to be plunged into darkness, it will be around for a while.)

Growth will continue:

"Coal has been the fastest-growing fuel for each of the past five years, and coal use is expected to grow 61 percent by 2030. In the next quarter century, the world's population is expected to grow 25 percent to more than 8 billion people, and world energy needs are projected to grow 45 percent. The International Energy Agency forecasts that growth in coal demand will exceed natural gas, nuclear, hydro and wind power combined through 2025," the company stated.

Peabody, however, is also working on the major clean coal initiatives in the U.S., Australia and Asia as well as various carbon capture experiments.

I actually met CEO Greg Boyce once. Quite a character. Here's the interview.

Comments

[billp37:]

The coal industry throught ABEC/America's Power Army has mounted a PR campaign.

home.comcast.net/~bpayne37/pnmelectric...

PNM stated "You will receive a response from us within two business days. " regarding our questions regarding output of PNM's Algodones, NM test solar electric facility.

We did not receive promised response.

Perhaps

"fast neutron
Santa Fe, NM
January 12, 2009

From actual experience, wind farms produce 1.2 watts per square meter. Solar Thermal and Photovoltaic methods capture 5 to 6 watts per square meter. There is no economy of size in either technology. Dividing the watts you need by those values gives the land area in square meters needed to produce the juice. The numbers are astronomical

www.topix.net/forum/so... "

may be right?

May 08 09:05 AM

[capitalgc:]

Great article!

May 12 02:17 PM