What does a world class, leading athlete need to be the best? Energy.
What does a world class, leading nation need to be the best? Energy.
Coal is being confused as an alternative energy. It is already the energy for today, satisfying over 60% of China's energy needs. And China's need for energy will only continue to grow as the country builds more metropolitan cities to serve its growing middle class.
Consolidation happening around the $65 price level... coal demand continues on a mult-decade move higher. China infrastructure increasing will increase electricity demand, which requires coal to produce. The China infrastructure is also wrought by steel, which also requires coal to produce.
Demand continues to outpace inventory supply.
From the AP................
Peabody said its coal shipments from Australia jumped 15 percent over the previous year, with the companies per-ton revenues on that continent soaring 84 percent. Peabody's average per-ton revenues in the U.S. grew 22 percent on higher pricing in all regions.
Peabody said Monday it has completed a $50 million expansion of an Australian mining complex that exports coal to Asia. The New South Wales operation's expansion included development of a mine expected to produce more than 2.5 million tons per year. The complex's primary mine produced more than 4 million tons last year.
$62.64 (07/23/08)
