| Europe Is Hoping For A Little Coal In Its Stocking This Christmas |
 |
 |
 |
| Tuesday, 06 November 2007 05:36 | |||
|
European countries are paying premiums to import US coal. The price of US coal is at historically low levels, and energy producers are turning to it as a replacement for crude oil. Generating one million BTU with coal costs about USD$2, while generating the same heat with natural gas costs about $7. Fuel oil costs about $12.50. Enel, Italy's largest power company, is spending about $6 billion to convert its oil-fed generators to coal. Stocks for the major coal suppliers have increased by more than one-third in the past three months, and Consol plans to open a new coal mine in 2008 that will produce as much as five million tons of coal for export annually. Consol estimates that its Baltimore port is operating at half-capacity and could easily ship more than 12 million tons of coal annually. Click Read More for a link to the full story From the International Herald Tribune: NEW YORK: Now that the price of coal is at a historic low relative to oil, there is no stopping consumers and producers alike from embracing Al Gore's nightmare. A ton of U.S. coal is so inexpensive, at about $47, that European utilities will pay $50 to ship it across the Atlantic, according to Galbraith's, a 263-year-old London shipbroker.
|
FB Fans
Latest Forum Topics
- Cat 3500 block deck erosion (water grommet area)
ruttsmachine 2.2.2012 8:56 - Under a working tugboat in the Gulf
stewwfinch 29.1.2012 8:07 - Harbor Tug?
Ryan 13.1.2012 20:26 - Re:STCW-BST refresher course
A-ron 18.12.2011 19:48 - Re:STCW-BST refresher course
gltqmt 3.10.2011 12:32