STEVE Hall’s prediction that “Coal is Dead” and claims that coal “will become a stranded asset” due to “renewable energy” is just a dream.
Thermal coal fuels 41 per cent of global electricity generation because it is reliable and affordable. Safer than nuclear and less worrisome for those who live below the walls of hydro-electric dams.
Coal is affordable as it is the most abundant fossil fuel on Earth. The total amount of coal in the world is so large (equivalent to about 150,000 quadrillion BTU) that the possession of even a small fraction represents a major economic benefit.
Great Britain has as little as 1 per cent of the world’s coal, and yet it was the world’s leading coal-producing nation for over a century, and could be again, as it still has massive reserves. Australia has less than 2 per cent of the world’s reserves, but it has been one of the leading coal-exporting nations.
Coal benefits all Australians through its contribution to exports, wages, investment and tax revenue. It is Australia’s comparative advantage in coal mining, together with iron ore, that has helped to sustain the longest period of continuous economic growth in the nation’s history.
For the rest of this column: https://www.gympietimes.com.au/news/old-king-coal-is-not-dead-opinion/3251053/