As SA nears 50% renewables, one company plans to “gasify” reserves of closed Leigh Creek coal mine, in hopes of building “baseload” gas plant.
Tag: "coal-seam gas"
Oregon becomes 1st US state to legislate to eliminate coal power use by 2025; while NSW introduces new measures against CSG protesters, which it dubs “eco-fascists.”
AGL cites low oil and gas prices for sudden exit from gas exploration and production, and all its coal seam gas assets. Environmentalists hail major victory, as AGL says it wants to focus on “energy evolution”.
The search for CSG is just the latest round in an ongoing contest for the ground beneath our feet.
As state governments and developers scream for approval to dig up their fossil fuel reserves, and mainstream analysts warn about an impending market crunch, the focus is turning to financiers and fund managers on a simple question: Can they get their timing right?
A new report released by Deutsche Bank says the global coal market faces a combined threat of steadily growing supply and a levelling-off or decline in demand. A threat, it says, that should guide rational decision-making to delay all major expansion. But will governments really act rationally?
It might seem ironic, but environmentalists and farmers fighting the expansion of coal mining and coal seam gas across Australia are the only thing likely to moderate the rude economic awakening we face when the global carbon bubble bursts and the fossil fuel industries start their inevitable, terminal decline.