Archive for July, 2014

More News and Commentary

Doubts over future of giant Carmichael coal mine

Doubts over future of giant Carmichael coal mine

By Stephanie Smail, AM the full story,  ABC Australia radio – “As debate rages over the environmental effects of Queensland’s huge Carmichael coal project, there’s doubts the mine will ever be operational. Indian coal giant Adani has won environmental approval to start what could be the biggest black coal project in Australian history. But industry […]

July 31, 2014 Read More →
Coal exporters not backing down despite glut; could China enter the market too?

Coal exporters not backing down despite glut; could China enter the market too?

By Rohan Somwanshi, SNL Financial – “Even though global coal production has swelled up, there have been no signs of production slowing down in major coal-exporting countries, stretching the already oversupplied market. Global coal oversupply has been a major contributing element to the current weak coal market conditions. According to data available with SNL Energy, […]

July 30, 2014 Read More →
A model’s naked protest is the least of Adani’s challenges in $15 billion Australian coal project

A model’s naked protest is the least of Adani’s challenges in $15 billion Australian coal project

By Devjyot Ghoshal, Quartz India – “An Australian model’s naked protest is the latest in a series of activist demonstrations against the coal mine India’s Adani group is planning to develop in Australia’s north Galilee Basin. Concerns abound about the environmental impact of the project, which involves an expansion of the Abbot Point terminal, close to […]

July 30, 2014 Read More →
Press release: Carmichael approval spells further decline for Australian coal industry

Press release: Carmichael approval spells further decline for Australian coal industry

SYDNEY – Australia’s biggest coal mine, Adani’s Carmichael Coal and Rail Project in Queensland’s Galilee Basin, was today given Federal approval despite mounting evidence demonstrating the project is economically unviable. Tim Buckley, Director of Energy Finance Studies, Australasia, for the Institute for Energy Economics and Financial Analysis (IEEFA) has spent many years studying the economic […]

July 28, 2014 Read More →
Opinion: Global picture for coal offers reason to pause

Opinion: Global picture for coal offers reason to pause

By Tim Buckley, Newcastle Herald – Last decade’s NSW coal industry boom time – driven by soaring Chinese demand – is rapidly turning to bust. Since 2011 coal export prices have halved and coal industry profits have collapsed. Hopes raised by companies and a parade of NSW governments that selling ever-increasing volumes of coal for […]

July 28, 2014 Read More →
Rio Tinto’s fossil fuel exposure is rapidly diminishing

Rio Tinto’s fossil fuel exposure is rapidly diminishing

By Tim Buckley, Renew Economy – “Rio Tinto has been quoted extensively in the Murdoch press about how committed they are to their energy business, and how they see coal as the bedrock of the world’s energy system for decades to come. Right? Look at what they are actually doing, not the rhetoric they put […]

July 28, 2014 Read More →
Minerals Council talks up future of coal exports, despite prediction of 2016 peak in Chinese demand

Minerals Council talks up future of coal exports, despite prediction of 2016 peak in Chinese demand

By Tim Lamacraft, ABC News Australia –  “The NSW Minerals Council says the growth rate of Australian coal exports to China may be slowing, but the country is still the second largest market for thermal coal. Citing figures from China’s National Energy Administration, the Institute for Energy Economics and Financial Analysis predicts the country’s demand […]

July 28, 2014 Read More →
Aurizon’s multi-billion dollar coal gamble: Financial analyst cites major shareholder risk

Aurizon’s multi-billion dollar coal gamble: Financial analyst cites major shareholder risk

SYDNEY – A financial analyst specialising in global energy markets and the economics of Australia’s export coal industry has criticised the CEO of Australia’s largest rail freight company for what he says will be a “short-sighted gamble” of billions of dollars of investor funds. Aurizon CEO Lance Hockridge yesterday delivered a speech to the Israel […]

July 24, 2014 Read More →
Australia “isolated and economically vulnerable” in wake of carbon tax repeal

Australia “isolated and economically vulnerable” in wake of carbon tax repeal

By The Fifth State  – “Australia is becoming increasingly globally isolated and economically vulnerable, as countries like Korea and China move toward national emissions trading schemes, a new report warns.The Institute for Energy Economics and Financial Analysis investor briefing note details the implications for Australian fossil fuel investment taking into account regulatory, market, technological and […]

July 23, 2014 Read More →
China’s demand for coal decreasing: economic analyst

China’s demand for coal decreasing: economic analyst

By ABC Australia -New South Wales “A rapidly slowing demand for thermal coal in China has prompted predictions its consumption will peak within two years. The Institute for Energy Economics and Financial Analysis says it is bad news for the New South Wales coal industry which has pegged much of its hopes for continuing growth […]

July 23, 2014 Read More →