Column: Coal optimism in Australia hides unease about long-term problems

first_imgColumn: Coal optimism in Australia hides unease about long-term problems FacebookTwitterLinkedInEmailPrint分享Reuters:BRISBANE—Coal miners supplying Asia’s rapidly growing economies have plenty to be optimistic about as prices and demand appear robust, but they should be wary of getting caught up in the positive feedback loop that nearly destroyed them before.This week’s inaugural Energy Mines and Money conference in Brisbane, the heartland of the industry in top coal exporter Australia, was a sea of optimism about the outlook for the industry. Prices have been on an upward trend since bottoming in 2016 after five years of losses, and miners are once again making good profits amid strong demand from top importers China and India, new consumers such as Pakistan and the reliable veteran buyers like Japan and South Korea.But at the back of the minds of many Australian miners is the fear that they have seen this movie before, and they don’t want the same ending. In 2012, the industry was cock-a-hoop over forecasts that pointed to massive import demand growth in Asia, led by China and India. Problem was it was pretty much all wrong.A well-respected industry consultant and forecaster boldly claimed in early 2012 that China would be importing 1 billion tonnes of coal by 2030, and India would be up to 400 million tonnes. But these forecasts now look hopelessly optimistic, given China’s coal imports were 270.9 million tonnes in 2017. While imports have risen for two years, they are still well below the record 327.2 million tonnes from 2013. While China’s coal imports may rise slightly this year, it’s unlikely they will reach 300 million tonnes, and that 1 billion tonne forecast looks well out of reach.The [new] optimistic forecasts also fail to account for political pressure to move away from coal, not only in China, but increasingly in India. It’s likely that those countries planning on building coal plants powered by imports will also come under mounting pressure from environmental activists, who have become increasingly sophisticated in targeting how coal plants are financed and insured.In fact, if there was another common theme to this week’s conference in Brisbane, it’s that the coal sector still doesn’t fully grasp that array of forces now being deployed against it. The mantra of coal as ‘cheap and reliable and the only way to electrify the masses of people still without power’ was still repeated, and clearly believed.But scratch a little further and miners will tell you of the incredible difficulties in developing projects, with increased government scrutiny and regulation, the rising threat of public opposition and the dearth of financing, notwithstanding a seemingly large pool of investment funds. The inability of India’s Adani to actually start building its Carmichael mine in Queensland, the world’s largest planned mine aimed at supplying the seaborne market, plays on the industry’s mind, as does the virulent public opposition to the mine’s development.More: COLUMN-Resurgent coal exporters should be wary of blinkered optimism: Russelllast_img read more

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Some Sunman Residents Without Power In Monday Storms

first_imgSUNMAN, Ind. – Some Duke Energy customers in Sunman lost electricity during the storms on Monday night. The company says there are approximately 23 locations currently without power. The households are in the area of N. Spades Road and E. County Road 1300 N. Showers and storms are moving through the region tonight with a low temperature of 48 degrees. The National Weather Service says some storms could be accompanied by winds and some hail. More rain is expected Tuesday in the early morning hours and after daybreak.last_img

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Sausagefest: Fastest frank

first_imgSchmoldt says:Dave really needs to stop getting himself into arguments where he just has no chance of winning. Regardless of racing, when you think of Wisconsin, baseball in Milwaukee and tailgating you think of brats. Instead, he chooses the plainest of the bunch. I don’t care if he thinks he’s going the “American Way,” he’s not going the Wisconsin way.And what’s this I hear about Boston Marathons? Great, you can run long distances, but let’s see how you can do in a sprint around the track at Miller Park. According to the Milwaukee Brewers’ website, the Bratwurst has trained for the Olympics with the German national team. And he “intimidates all his other competitors with his muscular physique.”The Hot Dog “tries his best in what he does, and knows the effort was there even if the win was not.” That’s a load of trash. We all know that “You play to win the games.” The Bratwurst does whatever it takes to win — he refuses to lose. “Bratwurst trains like a machine, having not missed a day of weight lifting in years. He is very competitive, and wants nothing more than to win every race.” And he won on Opening Day this year — he wins on the biggest stages.In fact, the Hot Dog knows that the Bratwurst will go to great lengths to win any race. “Hot Dog once found his shoes in the trash only minutes before a race.”And what it really comes down to is style. The Bratwurst has the ultimate style in training and racing as well as fashion. Just look at those suspenders and the best mustache of the group. Don’t even get me going on the hats, and tell the Hot Dog to wipe that stupid smile off his face.Besides, what does Dave know about picking winners on the track? We all know he hates racing.McGrath says:If you were to cough up the $100 appearance fee for Hot Dog, you would paying for the most expensive weenie this side of Eric Schmoldt, who shows up for the “low, low price” of only three payments of $79.98, plus tax.However, unlike in the case of Mr. Schmoldt you would be getting yourself quite a bargain with Hot Dog, who is without a doubt top dog of the sausage racers.Hot Dog is by far the youngest of the sausages, having only joined the group in 1990, and therefore has the freshest legs, giving him a natural advantage.No sausage is as dedicated a runner as Hot Dog, who has completed three Boston Marathons and has the reputation of being the gym rat of the bunned meat racers.However, the true reason you don’t want to pick against Hot Dog is because you don’t want him or his posse on your bad side. That’s right, Hot Dog has a posse, don’t let the bill forwards hat deceive you.When you start to bring hate to Hot Dog, he’s liable to go back to his roots, where he ran the street and not races, and bring his boyz Corn Dog, Chili Dog, Cheese Dog and his infamous cousin Chicago Style Hot Dog. Snoop Dogg is even rumored to be a part of the gang, but he has never been found guilty.That gang, known on the streets as the “Ketchup Kings” or the KK, won’t just bury you in relish, they’ll bury your family in mustard while they’re at it.However, the dark side of the Hot Dog is easily forgotten, or even brushed aside as he is just so darn charismatic. That smile and those rug burns, plus the fact that he is a dead ringer for Nomar Garciaparra.So pick Hot Dog, not just because he’s the fastest, or the best, or the most charismatic. Pick him because you should be afraid not too.last_img read more

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