October 18, 2020 Read More →

IEA predicts Australian thermal coal demand peaked

ABC Rural:

Demand for Australian thermal coal has peaked, according to the International Energy Agency (IEA), and renewables will deliver 80 per cent of the world’s energy needs in the next few years. 

In its annual report on the World Energy Outlook the IEA said demand for oil was likely to rebound but that was not the case for thermal coal.

During the COVID-19 pandemic, Australia has been saved by its mineral exports, especially iron ore and coal. 

The pro-renewables Institute For Energy Economics and Financial Analysis has been warning of the change coming for coal.

Tim Buckley said the industry in New South Wales was exposed to these global trends but had been in denial and slow to respond. 

[David Claughton and Mike Pritchard]

More: Coal regions advised to look to renewables for jobs growth as IEA report highlights falling demand

Posted in: IEEFA In the News

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