Australian government analysis warns that reliance on Indian coal imports poses ‘significant risk’

first_img FacebookTwitterLinkedInEmailPrint分享The Guardian:Thermal coal exporters face “significant risk” that demand from India will decline, a report by the Australian office of the chief economist says. It also warned of long-term uncertainties in the market considered a “great hope” by miners.The report, released on Friday, came as the resources minister, Matt Canavan, prepared to visit India to promote the Australian resources sector. He argued India has an “astonishing” appetite for Australian thermal coal that could support “three to four new Adani-sized coalmines.” But those comments appeared at odds with the conclusions of the government’s economic advisers: that while India and southeast Asia were seen by the resources industry as a “bright light” that could help sustain Australian thermal coalminers as industrialised nations pivot away from fossil fuels, the outlook in India was “finely balanced and uncertain.”“While India is one of the great hopes for thermal coal exporters, alongside southeast Asia, it also presents significant risk,” the first paragraph of the report said. “If India’s thermal coal imports decline, there could be substantial implications for seaborne markets.”The argument being pushed by advocates of the thermal coal sector, that growth in these new markets could support new mines – or a new coal basin – ignores the more dramatic shifts away from coal in developed economies, analysts said.Tim Buckley, the director of energy finance studies at the Institute for Energy Economics and Financial Analysis, said: “The hope was that India and southeast Asia might provide something of a cushion [for the thermal coal industry] on the way down. But this isn’t a gentle slide to oblivion.”Buckley said solar power in India was three times cheaper than the assumptions used in the chief economist’s report, based on outdated IEA predictions. “They’re underestimating the importance of low-cost renewable energy,” he said. “Growth of thermal coal demand in India is financially challenged by the fact renewable energy is 30% cheaper, so what bank in their right mind would finance a new coal-fired power plant?”More: Australian thermal coal exporters warned of falling demand from India Australian government analysis warns that reliance on Indian coal imports poses ‘significant risk’last_img read more

Fourth time a charm for Handschke

first_imgBy Dave Panske SEYMOUR, Wis. (Aug. 24) – The fourth time was a charm Sunday night at Seymour Speedway for Beau Handschke.Handschke has led the last three Karl Chevrolet Northern SportMod features entering the final lap, only to end up second. He stayed in front this time for his first career win in the division.Handschke had opened a big lead before Rod Solem moved into the runner-up spot after a battle with Kevin Bethke and point leader Jeremy Cota. Solem slowly started to close the gap on the leader and with three laps to go was in striking distance. Handsche moved from the outside line to the low groove to close off Solem’s line. Solem tried to make it there but Handschke would not be denied. Solem was second with Cota taking third. Bethke, Colten Van Hierden and Bruce Belland rounded out the top six.Benji LaCrosse held off Mike Wedelstadt to collect his second straight Budweiser IMCA Modified feature flag. Kyle Frederick collected his second Coors Light IMCA Stock Car feature win of the season going away.last_img read more

B&H Mountain Climbers Set Out For Mount Olympus

first_imgA group of mountain climbers from B&H set off for Greece last night for a two-day climb to Mitikas on Mount Olympus to mark the 100 years since the first ascent of the mountain.At the invitation of the Mountaineering Association of Greece, a group of 137 mountain climbers will climb the second highest peak in the Balkans.Mayor Litochorea will greet the mountain climbers upon their return on Friday. The Greek Ambassador to B&H Karolos Gadis, who recently met with the B&H Mountaineering Association, arranged this visit.(Source: radiosarajevo.ba)last_img