Thought that I would tie-in an article on coal here since coal is the mother of global warming.
Higher oil prices means that coal is becoming a more attractive alternative.
A ton of U.S. coal is so cheap at about $47 that European utilities will pay $50 to ship it across the Atlantic, according to Galbraith's Ltd., a 263-year-old London shipbroker. While oil and coal cost the same as recently as 1998, West Texas Intermediate crude is five times more expensive after climbing to a record $96.24 on Nov. 1.
More than 1,000 coal-fed power plants will be built in the next five years, mostly in China and India, according to the U.S. Department of Energy.
However proposed U.S. coal plants are not being completed because of regulatory and environmental opposition.
Coal producers in the U.S. say sales in emerging markets are rising.
U.S. coal exports have increased 37 percent this year and will continue to climb because of record global demand and a weaker dollar, analysts and executives say.
Link:
Bloomberg.com: Exclusive