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Skier, ex nuclear engineer, green energy advocate moving towards lithium ion battery future
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  • China Choking on Coal 0 comments
    Oct 17, 2010 10:31 PM | about stocks: PUDA, APWR, HEAT
    China has set a new record in Tonnes of Coal dug for 2010 at 3.38 BILLION TONNES.

    the Economic Costs, the human costs, and the environmental costs are going to kill China if China does not change to some green energy.

    China has figured out that this coal model will not scale into the 2015 time frame and the amount of power will surpass the entire world added together by 2020 if the current growth rates continue in power megawatts demanded.

    (OTC:PUDA) coal will be the short term benefit but the long term is (NASDAQ:HEAT) and (OTC:APWR) which will convert dirty coal into greener solutions.

    * China's coal output from Jan-Sept up 17.2 pct

    * Mine accidents fall 13.2 pct in same period (Adds details, background)

    BEIJING Oct 12 (Reuters) - China's coal output rose 17.2 percent from a year earlier to 2.442 billion tonnes in the first three quarters of this year, Zhao Tiechui, head of state coal mine safety administration, was quoted as saying by Xinhua News Agency.

    Zhao also said mine accidents fell 13.2 percent in the same period, while the number of casualties from such incidents remain unchanged.

    The report did not provide a breakdown for coal output data for September.

    Data from the National Bureau of Statistics shows China produced 2.138 billion tonnes in the first three quarters of 2009, accounting for 72.1 percent of the eventual full-year total output of 2.965 billion tonnes. [MTL/CHINA7]

    If 2010 continues at the same rate, full year production will hit 3.38 billion tonnes, according to a Reuters calculation.

    Coal stockpiles at the key Qinhuangdao port have lingered at above 7 million tonnes since late July as strong local output was met with weakened demand.

    High production by miners such as Shenhua (1088.HK: Quote) and Yanzhou Coal (1171.HK: Quote), along with slackened demand have also weighed on domestic prices, which in turn erased any cost benefit for users to import the fuel from abroad.

    Coal with calorific value of 6,000 kcal/kg (NAR) was quoted in the range of 775 yuan to 765 yuan ($116.20-$114.74) a tonne, up as much as 20 yuan from a week earlier, while coal with a heating value of 5,000 kcal/kg was flat at 615-625 yuan, according to the Qinhuangdao Seaborne Coal Market. (Reporting by Jim Bai and Tom Miles; Editing by Jacqueline Wong)



    Disclosure: Author is LONG on APWR
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